The fluid management devices market was valued at $4,563.00 million in 2021 and is estimated to reach $13,292.76 million by 2031, exhibiting a CAGR of 11.3% from 2022 to 2031.
The fluid management devices are used to improve visibility during surgical procedures or endoscopic surgeries by providing precise fluid pressure to internal cavities. This system is used for various types of surgeries, including hysteroscopy, laparoscopy, and others. It consists of a collection system, a pump, a controller, and a monitor. The collection system is used to collect fluids during the procedure and the pump is used to move the fluid from the collection system to the controller. The controller is used to regulate the flow of fluid and the monitor is used to monitor the fluid levels. The system is designed to help reduce the risk of infection and to improve the accuracy of surgical procedures. Fluid management devices is used in different types of minimally invasive surgeries such as arthroscopy, laparoscopy, hysteroscopy, and others.
The growth of the fluid management devices market is driven by technological advancement for development of different fluid management devices and rise in prevalence of chronic diseases as gastroesophageal reflux disease, enlarged prostate bladder tumor, bladder cancer, colorectal cancer, endometrial cancer, and others. Rise in the prevalence of chronic diseases cause increase in the number of surgical procedures for diagnosis and treatment purpose. Thus, this factor is anticipated to drive the demand for fluid management devices in surgical procedures and boosts the market growth. In addition, rise in prevalence endometrial cancer cause, surge the demand for hysteroscopic surgeries. Thus, this factor is anticipated to fuel the usage of fluid management devices and anticipated to drive the growth of the market. For instance, according to the American Cancer Society, it was reported that in 2023, estimated cases for uterine cancer are 66,200. In addition, in 2020, according to the World Cancer Research Fund International (WCRF), it was reported that around 417,367 female population was diagnosed with endometrial cancer across the globe. This factor is anticipated to drive the number of hysteroscopy and fuels the demand for fluid management devices. Therefore, rise in number of endometrial cancers is attributed to boost the growth of market.
In addition, increase in the product launch and product approval for different fluid management devices is anticipated to drive the growth of market. Moreover, growing prevalence of musculoskeletal disorders, such as osteoarthritis and rheumatoid arthritis cause rise in the number of arthroscopic surgical procedures. In addition, increasing geriatric population is also contributing to the rise in number of arthroscopic procedures, as older adults are more prone to musculoskeletal disorders. Also, technological advancements in arthroscopy devices and increasing awareness about their advantages cause an increase in surgical interventions. Thus, this factor is anticipated to increase the demand for fluid management devices and boost the growth of the market.
Moreover, rise in expenditure by government to develop healthcare infrastructure fuels the market growth. For instance, as per the Office for National Statistics, in 2021, it was reported that total healthcare expenditure in the UK was $300,07 billion, which is an increase in nominal terms of 7.4% on spending in 2020. Moreover, according to Centers for Medicare and Medical Services Government (CMS), it was reported that, national healthcare expenditure (NHE) grew by 2.7% to $4.3 trillion in 2021, or $12,914 per person, and accounted for 18.3% of Gross Domestic Product (GDP). Hence, rise in healthcare expenditure across the globe is expected to fuel the demand for fluid management devices in hospitals, clinics diagnostic centers and others, thereby boosting the market growth.
On the other hand, the major restraint for the fluid management devices market is the potential risks associated with the procedures, such as infection, bleeding, and tissue damage. Additionally, the cost of treatment and lack of trained professionals are hindering the growth of the market.
The fluid management devices market is segmented into product, application, end user and region. Based on product, the market is divided into fluid management devices and fluid management accessories. Based on application, the market is bifurcated into urology, hysteroscopy, laparoscopy, arthroscopy, and others. Based on end user, the market segmented hospitals, clinics, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global fluid management devices market include Conmed corporation, Olympus Corporation, Baxter international Inc., Fresenius Medical Care, Stryker Corporation, Medtronic Plc., Karl Storz se and Co. KG., Cardinal Health, Bonvisi, and Hologic Inc.
The fluid management devices are used to improve visibility during surgical procedures or endoscopic surgeries by providing precise fluid pressure to internal cavities. This system is used for various types of surgeries, including hysteroscopy, laparoscopy, and others. It consists of a collection system, a pump, a controller, and a monitor. The collection system is used to collect fluids during the procedure and the pump is used to move the fluid from the collection system to the controller. The controller is used to regulate the flow of fluid and the monitor is used to monitor the fluid levels. The system is designed to help reduce the risk of infection and to improve the accuracy of surgical procedures. Fluid management devices is used in different types of minimally invasive surgeries such as arthroscopy, laparoscopy, hysteroscopy, and others.
The growth of the fluid management devices market is driven by technological advancement for development of different fluid management devices and rise in prevalence of chronic diseases as gastroesophageal reflux disease, enlarged prostate bladder tumor, bladder cancer, colorectal cancer, endometrial cancer, and others. Rise in the prevalence of chronic diseases cause increase in the number of surgical procedures for diagnosis and treatment purpose. Thus, this factor is anticipated to drive the demand for fluid management devices in surgical procedures and boosts the market growth. In addition, rise in prevalence endometrial cancer cause, surge the demand for hysteroscopic surgeries. Thus, this factor is anticipated to fuel the usage of fluid management devices and anticipated to drive the growth of the market. For instance, according to the American Cancer Society, it was reported that in 2023, estimated cases for uterine cancer are 66,200. In addition, in 2020, according to the World Cancer Research Fund International (WCRF), it was reported that around 417,367 female population was diagnosed with endometrial cancer across the globe. This factor is anticipated to drive the number of hysteroscopy and fuels the demand for fluid management devices. Therefore, rise in number of endometrial cancers is attributed to boost the growth of market.
In addition, increase in the product launch and product approval for different fluid management devices is anticipated to drive the growth of market. Moreover, growing prevalence of musculoskeletal disorders, such as osteoarthritis and rheumatoid arthritis cause rise in the number of arthroscopic surgical procedures. In addition, increasing geriatric population is also contributing to the rise in number of arthroscopic procedures, as older adults are more prone to musculoskeletal disorders. Also, technological advancements in arthroscopy devices and increasing awareness about their advantages cause an increase in surgical interventions. Thus, this factor is anticipated to increase the demand for fluid management devices and boost the growth of the market.
Moreover, rise in expenditure by government to develop healthcare infrastructure fuels the market growth. For instance, as per the Office for National Statistics, in 2021, it was reported that total healthcare expenditure in the UK was $300,07 billion, which is an increase in nominal terms of 7.4% on spending in 2020. Moreover, according to Centers for Medicare and Medical Services Government (CMS), it was reported that, national healthcare expenditure (NHE) grew by 2.7% to $4.3 trillion in 2021, or $12,914 per person, and accounted for 18.3% of Gross Domestic Product (GDP). Hence, rise in healthcare expenditure across the globe is expected to fuel the demand for fluid management devices in hospitals, clinics diagnostic centers and others, thereby boosting the market growth.
On the other hand, the major restraint for the fluid management devices market is the potential risks associated with the procedures, such as infection, bleeding, and tissue damage. Additionally, the cost of treatment and lack of trained professionals are hindering the growth of the market.
The fluid management devices market is segmented into product, application, end user and region. Based on product, the market is divided into fluid management devices and fluid management accessories. Based on application, the market is bifurcated into urology, hysteroscopy, laparoscopy, arthroscopy, and others. Based on end user, the market segmented hospitals, clinics, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global fluid management devices market include Conmed corporation, Olympus Corporation, Baxter international Inc., Fresenius Medical Care, Stryker Corporation, Medtronic Plc., Karl Storz se and Co. KG., Cardinal Health, Bonvisi, and Hologic Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the fluid management devices market analysis from 2021 to 2031 to identify the prevailing fluid management devices market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the fluid management devices market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global fluid management devices market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
- Fluid management systems
- Fluid management accessories
By Application
- Urology
- Hysteroscopy
- Laparoscopy
- Arthroscopy
- Other
By End User
- Hospitals
- Clinics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- CONMED Corporation
- Medtronic plc
- Hologic Inc.
- Baxter International Inc.
- Bonvisi AB
- Stryker Corporation
- Cardinal Health Inc.
- Olympus Corporation
- FRESENIUS SE & Co. KGaA (Fresenius Kabi)
- KARL STORZ SE & Co. KG
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: FLUID MANAGEMENT DEVICES MARKET, BY PRODUCT TYPE
CHAPTER 5: FLUID MANAGEMENT DEVICES MARKET, BY APPLICATION
CHAPTER 6: FLUID MANAGEMENT DEVICES MARKET, BY END USER
CHAPTER 7: FLUID MANAGEMENT DEVICES MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Fluid Management Devices Market," the fluid management devices market was valued at $4,563.0 million in 2021, and is projected to reach $13,292.76 million by 2031, growing at a CAGR of 11.3% from 2022 to 2031.The fluid management devices are medical instruments used for managing fluid levels during endoscopic procedures. They are typically handheld devices inserted into the body through a small incision or endoscope. There are two product types of fluid management devices which includes fluid management devices and fluid management accessories. The application of fluid management devices is in urology, hysteroscopy, laparoscopy, arthroscopy, and others. The end user of fluid management devices are hospitals, clinics, and others.
Key factors driving the growth of the fluid management devices market include increase in the number of minimally invasive surgeries, rise in the prevalence of chronic diseases such as cardiovascular diseases, orthopedic diseases and others and technological advancement for development fluid management devices. In addition, technological advancement in the healthcare sector and rise in the number of product launch and product approvals for fluid management devices is anticipated to drive the growth of market. Additionally, it is projected that a rise in the number of specialist clinics or dialysis facilities will fuel the demand for fluid management devices. As a result, this component is credited with fueling market expansion. For instance, according to Fresenius Medical Care, the world's leading provider of products and services for individuals with renal diseases, in June 2020, it was reported that North America aims to open more than 100 new Transitional Care Units (TCUs) in 2020. These units will help people recently diagnosed with kidney failure to learn about the treatment options available to them.
In addition, increase in the product launch and product approvals for technological advanced fluid management devices is anticipated to drive the growth of market. For instance, technologically advanced fluid management devices are used for optimum visibility during endoscopic procedures which gives improved safety and better clinical outcomes. The innovative pressure control system reduces bleeding during and after surgery. Total blood loss is reduced by over 40%. In addition, in January 2021, the Hologic, Inc., an innovative medical technology company, announced the launch of fluent fluid management devices, in Europe. This product is designed to offer more effective fluid management for physicians in hysteroscopic procedures. Moreover, Rise in the key players that manufactures fluid management devices and fluid management accessories and disposables is anticipated to drive the growth of market. For instance, Conmed Corporation, a medical equipment manufacturing company provides Eco-Flow Day-Use Tubing for fluid management devices. In addition, Cardinal Health provides some disposable accessories for fluid management devices such as Medi-Vac and Medi-Solid Plus Solidifiers, Medi-Vac Plastic Connectors, Medi-Vac Suction Canisters.
The fluid management devices market is segmented into product, application, end user and region. Based on product, the market is divided into fluid management devices and fluid management accessories. Based on application, the market is bifurcated into urology, hysteroscopy, laparoscopy, arthroscopy, and others. Based on end user, the market segmented hospitals, clinics, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
The key players profiled in the study include Conmed corporation, Olympus Corporation, Baxter international Inc., Fresenius Medical Care, Stryker Corporation, Medtronic Plc., Karl Storz se and Co. KG., Cardinal Health, Bonvisi, and Hologic Inc. The players in the market have been actively engaged in the adoption various strategies such as product launch, product approval and acquisition to remain competitive and gain advantage over the competitors in the market. For instance, in June 2021, a leading provider of infection prevention and other procedural products and services announced the acquisition of Cantel medical, a global supplier and manufacturer of infection prevention and control products for endoscopy, dental, dialysis and life sciences customers.
Key Market Insights
- By product type, fluid management systems segment was the highest revenue contributor to the market and is estimated to reach $7,120.66 million by 2031, with a CAGR of 11.5%.
- By application, the laparoscopy segment dominated the global market. However, the hysteroscopy segment is expected to be the fastest-growing segment with a CAGR of 11.9% during the forecast period.
- By end user, the hospitals segment dominated the global market. However, the same segment is expected to be the fastest-growing segment with a CAGR of 11.5% during the forecast period.
- Based on region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR of 12.1% during the forecast period
Companies Mentioned
- CONMED Corporation
- Medtronic plc
- Hologic Inc.
- Baxter International Inc.
- Bonvisi AB
- Stryker Corporation
- Cardinal Health Inc.
- Olympus Corporation
- FRESENIUS SE & Co. KGaA (Fresenius Kabi)
- KARL STORZ SE & Co. KG
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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About the Fluid Management Device Market
The Fluid Management Device market within the context of Surgical Devices is a rapidly growing sector. These devices are used to manage the flow of fluids during surgical procedures, such as irrigation, suction, and aspiration. They are designed to provide a safe and efficient way to manage the flow of fluids during surgery, and are used in a variety of medical procedures. Fluid Management Devices are typically made of plastic or metal, and come in a variety of shapes and sizes. They are designed Read more
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