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Endoscopy Fluid Management Market Size is poised to depict an exponential growth over the forecast period of 2022-2028 with the increasing demand for efficient medical instruments to perform various types of surgeries. The rising pervasiveness of various chronic disorders requiring treatments involving endoscopic surgeries is propelling the market growth to a greater extent.
Endoscopy fluid management systems play a key role in offering better visibility during endoscopic procedures creating huge demand for these instruments. The mounting demand for these systems coupled with the ongoing product innovations by various prominent endoscopy fluid management market players is projected to expedite the industry growth in the forthcoming years.
Based on product type, laparoscopy fluid management systems segment is expected to record appreciable growth over 2022-2028. This can be attributed to the increasing preference for laparoscopy as it involves minimal invasion and is considered generally safe due to few complications. The increasing number of colorectal surgeries will instigate the demand for laparoscopy which, in turn, will drive the product demand. According to the Monmouth Medical Center, every year, over 600,000 surgeries are performed in the U.S. for treating numerous colon diseases.
In terms of end-user, hospital segment is anticipated to capture a substantial share by the end of 2028 with increasing patient admissions for various surgical procedures in these healthcare settings due to the availability of sophisticated facilities. Various governing bodies are now focusing on ramping up the capacity for surgical procedures. For instance, in 2021, the Canadian government announced its plans to increase its procedural capacity amid declining hospitalizations during the COVID-19 crisis. The government aims for the surgical and procedural output of 110-115% with an investment of USD 324 million.
Regionally, North America is expected to emerge as a significant growth avenue for endoscopy fluid management market over the analysis timeframe of 2022-2028 with the increasing healthcare expenditure in the region. According to the U.S. Centers for Medicare & Medicaid Services (CMS) statistics, the national healthcare spending of the country increased to 9.7% accounting for the total expenditure to USD 4.1 trillion. Besides, the ongoing technological advancements and availability of highly skilled medical professionals in the region will strengthen the regional market statistics further.
The major players operating in endoscopy fluid management market include Karl Storz GmbH & Co KG, Olympus Corporation, Smith & Nephew, Stryker Corporation, Richard Wolf GmbH, Cantel Medical Corporation (Steris), B. Braun Medical Inc., DePuy Synthes (Johnson & Johnson), Hologic Inc., and Medtronic Plc.
These companies are essentially focusing on the development of innovative products in order to strengthen their market foothold. To illustrate, in 2021, Hologic, Inc. launched its new CE-approved Fluent® fluid management system in Europe that has been designed to facilitate more effective and simpler fluid management for healthcare professionals.
The market outlook has been significantly impacted by the outbreak of the COVID-19 pandemic as various surgical procedures were delayed due to the high risk of infection in healthcare settings. However, with the government bodies focusing on increasing the capacity for surgeries and implementation of the safety measures in hospitals, the product demand is expected to increase steadily in the coming years. This will create lucrative growth prospects for the overall market in the future.
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Market, by Modality
Market, by End-use
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