According to the latest report by Transparency Market Research, the global fluid management market is expected to cross a valuation of more than US$64 bn by the end of 2025. For the given course of the forecast period of 2017 to 2025, the fluid management market is expected to exhibit a CAGR of more than 5.3%.
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In terms of geographical segmentation, the global fluid management market is divided into five major regional segments, viz. Europe, Asia Pacific, Middle East and Africa, Latin America, and North America. Currently, the market is dominated by the North America region in terms of value. The region is also expected to continue its dominance over the given period of forecast.
The growth of the North America market for fluid management is primarily attributed to the high prevalence of chronic kidney disorders in the region. In addition to this, the growing adoption of dialysis treatment procedures, increase in the number new product launches, and the growing per capita income of the populace in the region are also some of the other crucial factors that are helping to drive the overall growth of the fluid management market in North America region.
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High Prevalence of Chronic Disorders is Fueling North America Market Growth
In a recent study report published by the National Institute of Diabetes and Kidney Diseases, in the year 2016, over 661,000 Americans were suffering from some or the other form of chronic kidney disorder. Out of these patients, around 468,000 individuals chose to undergo the dialysis treatment procedure. Whereas, around 193,000 patients underwent the kidney transplant surgery. With such high patient numbers and growing occurrence of the diseases, naturally, the North America market is expected to continue dominating the global market in terms of value.
Europe on the other hand is another prominent region for the overall growth of the global fluid management market. The growth of the regional segment is primarily driven by the growing presence of several leading medical devices & equipment and pharmaceutical companies. Moreover, the growing prevalence of the lifestyle related diseases such as high blood pressure, end-stage renal diseases, diabetes, obesity, and cancer among others are also proving to be crucial driving factor for the growth of the regional market.
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Rising Investments for R&D Activities to Push Growth of Asia Pacific Region
The regional segment of Asia Pacific is expected to be the most promising market landscape for the growth of the global fluid management market. The Asia Pacific region is expected to show the most promising growth during the given projection period. This growth of the regional segment can be primarily attributed to the rapidly developing healthcare sector in the emerging economies such as India and China. The government in these countries are working towards developing a top-notch healthcare infrastructure and thus are open for foreign investments. This has presented a huge business opportunity for the leading players in the global fluid management market to establish their bases in the region. Moreover, the growing investments for speeding up the research and development activities in the region are also helping to further boost the development of the fluid management market in the Asia Pacific region.
Some of the leading players in the global fluid management market include names such as Baxter, Nikkiso Co. Ltd., Cardinal Health Inc., Stryker Corporation, Medtronic, Smith & Nephew, NIPRO Medical Corporation, Coloplast Group, and B. Barun Holding GmbH among others.
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This release was published on openPR.