Fluid Management And Visualization Systems Market Growth & Trends
The global fluid management and visualization systems market size is expected to reach USD 12.5 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.1% from 2020 to 2027.
The fluid management and visualization systems significantly enhance procedural effectiveness. Postoperative and perioperative fluid management has a significant impact on patient outcomes and plays a pivotal role in enhanced recovery pathways (ERPs). Moreover, fluid management and visualization leads to a decrease in complications and a decrease in length of stay (LOS). Thus, preoperative and postoperative fluid management and visualization is as critical as intraoperative management as it offers multiple associated benefits to the patients.
Increase in the minimally invasive and ambulatory procedures involving large volumes of liquids adds stress and inefficiency in the OR. This, in turn, facilitates the adoption of fluid management and visualization systems in the medical settings. According to the study by researchers at the University of Michigan, January 2020, the use of robotic surgery for all general surgery procedures increased from 1.8% in 2012 to 15.1% in 2018.
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Fluid Management & Visualization Systems Market Report
Fluid Management & Visualization Systems Market Report Highlights
- North America accounted for the largest revenue share in 2019 owing to well-established healthcare infrastructure, significant investment by market players for novel product development, and increasing prevalence of gynecology, urology, and cardiac conditions
- By product, the accessories segment dominated the market in 2019 as these products need to be disposed after single use, thus preventing infections and assuring patient safety
- In terms of application, the urology segment dominated the market in 2019 due to increasing cases of kidney stones and prostate and bladder problems
- Based on end use, the hospitals segment accounted for the largest market share in 2019 as they conduct larger number of surgical procedures with the availability of novel automated fluid management and visualization systems
- Market players are adopting several strategies such as significant investment in research and development, product innovation via acquisitions and collaborations, and geographical expansion in developing countries to gain a significant share in the global market.
