Fluid management systems are medical devices which help in suctioning & transferring fluids, blood, and other liquids from or within a patient's body during surgical & post-operative care. These systems offer advanced features like automated fluid regulation, temperature control, digital connectivity to adjust fluid levels in real time. This helps surgeons perform complex surgeries efficiently and improves patient recovery. The global Fluid Management System Market is estimated to be valued at US$ 12.41 Billion in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Development of smart fluid management systems
The key trend gaining momentum in the fluid management system market size is the development of smart devices with features like integrated sensors, touch screens and wireless connectivity. These smart systems automate many routine tasks, precisely measure fluid intake-output, and enable remote monitoring. For example, B. Braun introduced 'Infusomat' pumps with sensors to track depleted fluid bags and automatically switch to a new bag. Development of such smart fluid management systems with self-regulation capabilities is expected to drive the market growth over the forecast period.
Segment Analysis
The global fluid management system market is dominated by disposable components segment. Use of disposables helps in reducing risks of contamination and infections during surgical procedures. These disposables are single-use components like tubings, cassettes, valves etc. required to regulate the flow of fluids into and out of the patient's body during surgeries. Their disposable nature ensures sterility and safety.
Key Takeaways
The global fluid management system market is expected to witness high growth over the forecast period. The market size for 2023 is US$ 12.41 Bn and is expected to grow at a CAGR of 10.% till 2030.
Regional analysis
North America currently dominates the global fluid management system market owing to growing number of surgical procedures and technological advancements in the region. However, Asia Pacific is expected to witness the highest growth rate due to improving healthcare infrastructure and increasing medical tourism in the region.
Key players
Key players operating in the fluid management system market are Cardinal Health, Inc., Stryker Corporation, Karl Storz GmbH & Co. Kg, Zimmer Biomet Holdings, Inc., Baxter International Inc., Becton, Dickinson and Company, Angiodynamics, Inc., Hologic, Inc., Ecolab Inc., Olympus Corporation, Medtronic PLC, Fresenius Medical Care AG & Co. KGaA, B. Braun Melsungen AG, Johnson & Johnson, and Smiths Group PLC. These players are focusing on new product launches and strategic collaborations to strengthen their market position.
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