Technological advancement in the healthcare sector, the occurrence rate of chronic condition, and the rising geriatric population have resulted in boosting the Fluid Management Equipment market.
Fluid Management Equipment Market Size – USD 10.60 Billion in 2018, Industry Growth – CAGR of 5.8%, Market Trends – The rising demand of diagnosis of Fluid Management Equipment in oncology
The Global Fluid Management Equipment market is forecast to reach USD 17.66 Billion by 2027, according to a new report by Reports and Data. In patient care, fluid management plays a pivotal role, particularly in inpatient medical setting. In fluid management, it is essential to understand that every patient have different fluid needs that are needed to be considered by care providers. One particular aspect to be considered in fluid management is, in every case of fluid loss, it is importance to replace the lost fluids as accurately as possible. The fluids to be managed is dependent and varies on the medical condition of patients and differs by composition and volume. As an instance, when a patient is admitted to hospital with severe burns, the care user will require higher level of fluids as compared to a patient who is relatively healthy & allows to avoid oral consumption and waiting for a procedure. Similarly a patient admitted with diarrhea would require fluid composition varying from a patient admitted with hypovolemic shock. Usually for healthy individuals it is advised to consume fluids orally i.e. the natural route of food intake. However, care users with severe conditions may not be able to tolerate oral intake. Thus, fluid management is an integral aspect of care services for any patient admitted to hospital, which can be addressed with fluid management equipment like infusion therapy products. Alternative routes of administration like intravenous access can provide fluids directly to the vascular system.
In regards to region, Europe can be seen to occupy a considerable share of the market. The market share occupied by the region is attributed to continuously growing geriatric population, increasing incidence rate of chronic conditions and expanding healthcare sector.
Key participants include Stryker, Smiths Medical, Olympus, Fresenius Medical Care, CONMED, Braun Melsungen AG, Baxter International Inc., Ecolab Inc., Ecolab Inc., Smiths Group PLC and Serres.
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Further key findings from the report suggest:
- The Fluid Management Equipment market held a market share of USD 10.60 Billion in the year 2018 that is forecasted to grow at a rate of 5.8% during the forecast period.
- In context to Product Type, the Infusion therapy products segment is generated the highest revenue of USD 5.51 Billion in 2018, with a CAGR of 5.8% during the forecast period. Rising occurrence rate of chronic condition and applicability of these equipment in treating serious conditions in which, patients does not respond to oral antibiotics contributes to the revenue generated by this segment.
- In context to Application, the Urology segment held the largest market share of more than 20.0% in 2018, with a CAGR of 5.9% during the forecast period. The market share occupied by the Urology segment is attributed to elevated use of dialysis products in urology for blood purification wherein fluid management plays an integral role, contributing to the market share held by this segment.
- In regards to End-user, the Hospital segment held the largest market share of more than 40.0% in 2018, with a CAGR of 5.9% during the forecast period. The market share held by the segment is attributed to increasing occurrence rate of chronic conditions and increasing demand for indoor patient care for these conditions in hospital, which results in its elevated use of these equipment in this segment.
- In regards to the region, Asia Pacific is projected to witness the fastest growth rate of 6.3% during the forecast, which is expected to hold more than 0% of the market by 2027. The elevating emphasis on R&D activities and technological developments in the healthcare sector are supporting the expansion of the market in this region.
For the purpose of this report, Reports and Data have segmented the global Fluid Management Equipment market, according to Product Type, Application, End-user, and Region:
Product Type Outlook (Revenue, USD Billion; 2016-2027)
- Infusion therapy products
- Endoscopic fluid management products
- Renal fluid management product
Application Outlook (Revenue, USD Billion; 2016-2027)
End-user Outlook (Revenue, USD Billion; 2016-2027)
- Diagnostic centers
- Home care settings
Regional Outlook (Revenue, USD Billion; 2016-2027)
- North America
- Asia Pacific
- Latin America
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technology
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2027
Chapter 3. Indicative Metrics
Chapter 4. Fluid Management Equipment Market Segmentation & Impact Analysis
4.1. Fluid Management Equipment Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
126.96.36.199. The rising geriatric population
188.8.131.52. The increasing occurrence rate of chronic conditions
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