Wilmington, Delaware, United States, Feb. 05, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The fluid management market was valued at US$ 9.2 billion in 2022. A CAGR of 10.6% is expected from 2023 to 2031, resulting in a market value of US$ 22.1 billion by 2031. Continuing technological advances will probably lead to more complex and integrated fluid management systems. Artificial intelligence (AI) combined with machine learning improves fluid balance management, enhances predictive analytics, and permits tailoring treatment regimens to each patient's needs.
As medical devices become smaller and more portable, fluid management systems will become more portable. Healthcare professionals in emergency and ambulatory care settings can conveniently manage fluid levels with compact and portable devices, which facilitate point-of-care fluid management. Eco-friendly materials and design ideas may be included in future fluid management solutions, as sustainability becomes a more important concern throughout industries, including healthcare.
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Fluid management technology adoption and development may be affected by developments in waste reduction, energy conservation, and the environment.
Remote monitoring and telehealth technologies are becoming increasingly popular in health care. Remote monitoring of fluid levels, receiving real-time data, and making timely interventions might become more widespread, improving patient care and reducing the need for in-person meetings.
Medical procedures are increasingly emphasized as preventative measures and fluid management plays a key role in preventing complications. By incorporating preventive measures into fluid management systems in the future, organ failure, infections, and other complications may be minimized, leading to better patient outcomes.
Key Findings of the Market Report
- Based on product type, infusion therapy is likely to drive fluid management market growth
- In terms of end-users, hospitals will likely drive fluid management market demand.
- The development of infectious and lifestyle diseases is driving the fluid management market.
- In 2022, the urology application segment held the largest share.
- In 2022, North America held the majority of the market share in the fluid management market.
Global Fluid Management Market: Growth Drivers
- Surgical operations and chronic illnesses have both increased globally. The prevalence of ailments like kidney failure, cardiovascular disorders, and cancer is increasing the need for numerous medical interventions, including surgeries and diagnostic procedures.
- Many medical procedures require fluid control to ensure patient stability, hydration, and drug administration. As the population of patients expands and technology advances in medicine advance, the fluid management market is expected to grow rapidly.
- The use of cutting-edge surgical techniques and a focus on minimally invasive operations. Precise control of bodily fluids is necessary for minimally invasive surgeries like laparoscopy and endoscopy to maximize visibility and ensure patient safety.
- Medical practitioners use fluid management systems during these treatments to accurately regulate and monitor fluid levels, which improves patient outcomes, speeds up recovery, and lowers problems. The constant movement in healthcare towards less intrusive methods is a major driver of the need for creative fluid management solutions.
- The fluid management market is expanding due to growing patient safety awareness and emphasis, as well as the requirement for effective healthcare delivery. Healthcare professionals and organizations are becoming increasingly aware of the importance of maintaining an ideal fluid balance to prevent infections and organ failure. In order to improve patient outcomes and increase efficiency, healthcare systems are expected to increase their investment in advanced fluid management solutions.
Global Fluid Management Market: Regional Landscape
- North America is expected to dominate the fluid management market. North America's aging population is contributing to an increase in the prevalence of chronic illnesses and surgical procedures.
- The need for fluid management systems increases as people age, especially as they require more medical treatments like surgery and diagnostic tests. As diabetes, heart disease, and renal disorders rise, accurate fluid balance is crucial for patient treatment.
- Innovations and technical improvements in healthcare are driving the fluid management market in North America at a rapid rate. Research institutes and medical device manufacturers in the region are constantly developing cutting-edge solutions for fluid management.
- Medical procedures can be monitored, controlled, and managed accurately using these systems, which are in line with the region's commitment to quality healthcare.
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Global Fluid Management Market: Key Players
Fluid management market players enable large corporations to invest heavily in research and development, expand their products, and acquire rival companies. Technology-based products are developed by vendors to expand their product portfolios.
- Baxter
- BD
- Smith+Nephew
- B. Braun SE
- Fresenius SE & Co. KGaA
- Cardinal Health Inc.
- Stryker
- Boston Scientific Corporation
- Karl Storz SE & Co. KG
Key Developments
- In December 2023, Braun Medical, LLC, a provider of pain management and infusion therapy solutions, announced the launch of the CARESITE Micro Luer Access Device. It reduces the chance of infection and protects patients and healthcare providers from dangerous chemicals during intravenous (IV) access.
Global Fluid Management Market: Segmentation
By Product Type
- Infusion Therapy Systems
- Infusion Devices
- IV Access
- IV Solutions & Products
- Renal Systems
- In-center Hemodialysis Products
- Home Hemodialysis (HHD) Products
- Peritoneal Dialysis Products
- Acute Dialysis Products
- Endoscopy Fluid Management Products
By Application
- Urology
- Cardiology
- Orthopedic/Osteology
- Neurology
- Oncology
- Gastroenterology
- Others (Anesthesiology, Bronchology, Otology, Gynecology, Dentistry, etc.)
By End User
- Hospitals
- Clinics
- Dialysis Centers
- Home Care Settings
- Others
By Region
- North America
- South America
- Asia Pacific
- Europe
- Middle East & Africa
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