Fluid Management Devices market research presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. Report also contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. Thus, the data presented is comprehensive, reliable, and the result of extensive research. Industry experts project Fluid Management Devices market to grow at a CAGR of 6.23% during the period 2017-2021.
A fluid management device is primarily used to balance body fluid to prevent complications associated with the improper flow of fluids, undesired fluid levels, fluids with different temperature, and improper disposal of fluids. It is designed to manage the patient’s fluid levels internally and externally through a safe, effective, and accurate process. The fluid level varies due to dialysis, surgical fluid, body fluid management, contrast media, and waste fluid management used in diagnostic and interventional procedures. The system is equipped with different equipment and consumables or is a standalone device such as dialysis machines and pumps, which are used to manage body fluids.
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Fluid Management Devices Market Trend, Challenge and Driver: –
Fluid Management Devices Market trend: – One trend in market is increasing shift toward integrated fluid management systems. Though, there are certain advantages of standalone fluid management systems in terms of operability and mobility, these devices are unable to perform multiple processes during surgeries compared with integrated fluid management devices. These integrated systems have better productivity with multiple surgical processes that are featured to perform direct drainage, an easy package of fluid canisters, automatic collection of discharge fluid, and disposal of fluids
Fluid Management Devices Market Challenge: – one challenges in market is high cost coupled with limited budget factors. Healthcare systems and hospitals are under constant pressure to deliver quality care at low cost. However, this has become difficult due to the growing adoption of advanced MI procedures that involve the use of sophisticated devices. Hospitals and healthcare institutions need to consider various procurement processes and budget allocation considerations before purchasing surgical devices in performing general surgeries for treating chronic disorders. Globally, the governments of many countries are increasingly working toward lowering healthcare expenses that have led medical facilities to operate on a limited budget. Medical facilities need to consider budget allocation and evaluate surgical procedures before making any purchase decision. These facilities consider fluid management devices as capital items. Maintenance of this equipment also adds up to the overall financial expenses of medical facilities. Also, the sales of this equipment are dependent on replacement purchases, especially in the developed countries.
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Fluid Management Devices Market Driver: – One driver in market is increasing number of chronic diseases leading to hospitalization. A sedentary lifestyle negatively affects the homeostasis of the body, making people susceptible to many disorders such as CVDs, diabetes, chronic obstructive pulmonary disease (COPD), end-stage renal disease (ESRD), urology disorders, and other chronic illnesses. Treatment of all these diseases has become critical, leading to increasing usage of fluid management devices during surgeries. According to the CDC, about 75 million American adults, which is about 29% of the overall population, have high blood pressure and there were more than 360,000 deaths recorded in 2013. It also shows that 51% deaths were caused because of stroke and the rest due to cardiac disorders. Diabetes causes greater complications with CVD. These chronic diseases require diagnosis and treatment to monitor the severity of the patient’s medical condition daily and maintain medical health records.
Research methodology is based on extensive primary and secondary research. Primary research includes in-depth interviews with industry experts, vendors, resellers and customers. Secondary research includes Platform, industry publications, company reports, news articles, analyst reports, trade associations and the data published by Government agencies. Key vendors operating in Fluid Management Devices market space are CONMED, Fresenius Medical Care, Olympus, Smiths Medical, Stryker and many more.
Geographic Segmentation: – Americas, APAC, EMEA
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With a purpose of enlightening new entrants about the possibilities in this market, this report investigates new project feasibility. A thorough SWOT analysis & investment analysis is provided in the report which forecasts imminent opportunities for the Fluid Management Devices market players. Moreover, the Fluid Management Devices industry development trends and marketing channels are analysed.