NEW YORK , July 18, 2022 /PRNewswire/ -- As per Zion Market Research study, The global fluid management system market size was valued at over $4 billion as of 2021 and is expected to generate a revenue of $26 billion as of 2028. The global market is anticipated to grow at a CAGR of 12.87% during the forecast period.
Fluid Management System Market: Overview
Fluid management is defined as a nursing activity conducted to promote fluid balance while preventing any complications as a result of undesirable fluid levels along with any other related abnormalities. It is one of the most critical aspects when it comes to patient care in a medical facility. Fluid management is a complex process resulting due to the different fluid balance needs of every patient, where no two patients will have the same requirement making it practically impossible to apply a universal or standardized formula for fluid management amongst patients, although one single thumb-rule is to accurately replace the fluid being lost. The fluid requirement may differ depending on the medical condition of the patient who is admitted. For example, a patient who has been in a car accident will require intensive fluid management than a person who is suffering from dehydration.
The main difference to note is that fluid replacement is different from fluid management. Fluid management refers to addressing the basic needs of the patient keeping in mind the physiological aspects which also include fluid loss related to sensible and insensible ways. Fluid replacement is one step further than physiological needs and encompasses conditions like diarrhea, vomiting, or cutaneous burns.
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Key Industry Insights & Finding of the Fluid Management System Market Reports:
As per the analysis shared by our research analyst, the Fluid Management System Market is expected to grow annually at a CAGR of around 12.87 % (2022-2028).
Through the primary research, it was established that the Fluid Management System Market was valued approximately USD 4 Billion in 2021 and is projected to reach to roughly USD 26 Billion by 2028.
As per reports submitted by the United States Renal Data System, over 8 lakhs of the American population suffered from ESRD where more than 69% required dialysis and the rest needed kidney transplantation.
Asia-Pacific is also showing excellent signs of growth because of the rising investments in the healthcare sector in regions like Japan , China , India , and Singapore .
The Asia-Pacific regions are witnessing high medical tourism owing to the presence of cost-effective treatment facilities. Higher demand for minimally invasive operations is expected to aid regional growth, especially in Japan .
Endoscopic surgeries include cutting-edge technology which is constantly advancing owing to increased demand amongst patients and subsequent increase in research activities related to these procedures.
Zion Market Research published the latest report titled as "Global Fluid Management Systems Market By Product Type (Fluid Management Systems (Integrated Fluid Management Systems & Standalone Fluid Management Systems) and Fluid Management Disposables & Accessories (Connectors & Fittings, Catheters, Bloodlines, Pressure Monitoring Lines, Tubing Sets, Pressure Transducers, Suction Canisters, Valves, & Cannulas)), By End-User (Ambulatory Surgical Centers and Hospitals), By Application (Gastroenterology, Urology, Gynecology or Obstetrics, Bronchoscopy, Laparoscopy, Cardiology, Neurology, Arthroscopy, Otoscopy, Anesthesiology, and Dentistry), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028." into their research database.
Fluid Management System Market: Growth Drivers
High demand for endosurgical procedures to propel the global market growth.
Endosurgical procedures refer to surgical operations that include only small incisions, followed by the insertion of a flexible endoscope, and further steps of the operational procedure. Endoscopic surgeries include cutting-edge technology which is constantly advancing owing to increased demand amongst patients and subsequent increase in research activities related to these procedures. The global fluid management systems market is expected to gain momentum owing to the rising adoption of minimally invasive procedures.
Given the various benefits offered by single-use medical devices, there is a surge in demand for replaceable products which may also aid the global market growth during the projection period. Some of the exceptional qualities of single-use devices are lesser risk of infection, contamination-free treatment, almost zero necessity for sterilization, cost-reduction, and increased patient safety thus making them popular amongst healthcare facilities.
Fluid Management System Market: Restraints
High cost pertaining the fluid management devices to restrict the global market growth.
Devices used for fluid management are high in cost and their maintenance is also extremely expensive. While large-scale healthcare facilities may be able to afford these advanced technologies, it becomes relatively difficult for mid-size or small-scale treatment units to adopt advanced devices in their medical care thus restricting the global market growth since the end-consumer database reduces drastically as a large section of the society is unable to visit high costing treatment facilities. In such cases, the small-scale treatment units have to opt for monetary support from external agencies which can pose added difficulties thus creating a barrier to the higher acceptance of advanced fluid management devices.
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Fluid Management System Market: Opportunities
Increasing investment in fluid management systems to provide lucrative growth opportunities.
Since fluid management is one of the most basic medical care that every hospital facility should be equipped with, there is extensive research on making fluid management available to all patients in every region including the regions that currently lack the necessary healthcare infrastructure which is anticipated to provide excellent growth opportunities for global fluid management systems market expansion. This can be achieved by either providing improved and cost-effective fluid management devices and accessories, or by improving the healthcare architecture in general.
Fluid Management System Market: Challenges
Lack of skilled professionals in emerging economies to pose challenges to global market growth.
Emerging economies have been lagging in developing an easily accessible healthcare infrastructure owing to reasons like political unrest and slow economic growth to name a few. They also lack a sufficient number of healthcare professionals that can deal with the growing demand in the medical sector. Since the emerging economies hold exponential growth potential but require immense efforts by key players and government agencies for the global market to gain benefits, the lack of skilled professionals and healthcare infrastructure is expected to create challenging situations during the forecast period.
Global Fluid Management System Market: Segmentation
The global fluid management systems market is segmented by product type, end-user, application, and region.
Based on product type, the global market segments are fluid management systems and fluid management disposables & accessories. Fluid management systems are further segmented into integrated fluid management systems & standalone fluid management systems. Fluid management disposables & accessories are further segmented into connectors & fittings, catheters, bloodlines, pressure monitoring lines, tubing sets, pressure transducers, suction canisters, valves, and cannulas. The global market is expected to be dominated by standalone fluid management systems since they are specialized equipment, provide accurate results, and show excellent reliability.
By end-user, the global market segments are ambulatory surgical centers and hospitals. The global market is expected to be dominated by the hospital segment during the forecast period since they are equipped with multiple forms of fluid management systems.
By application, the global market is segmented into gastroenterology, urology, gynecology or obstetrics, bronchology, laparoscopy, cardiology, neurology, arthroscopy, otoscopy, anesthesiology, and dentistry. Neurology, cardiology, and dentistry led the global market in 2021 owing to increased demand for diagnostic equipment required for internal diagnosis.
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List of Key Players of Fluid Management System Market:
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By Product Type, By Application, and By End Use
Value (USD Billion), and Volume (Units)
Revenue in USD million/billion and CAGR from 2022 to 2028
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Stryker Inc., Baxter International Inc., Fresenius Medical Care, DePuy Synthes, Cardinal Health Inc., Medtronics PLC, and Olympus Corporation.
Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
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In 2020, the USA witnessed the opening of 100 new transitional medical care units that are equipped with advanced devices. The step was undertaken by Fresenius Medical Care with the intention to provide treatment-related information to patients diagnosed with kidney failure so that they can make subsequent well-informed decisions about their medical care plans.
In December 2020 , Carpediem System was launched by Medtronic, in the USA . Carpediem System is used in neonatal and pediatric dialysis. It is one of a kind system and will provide renal replacement therapy for patients who weigh between 2.5 to 10 kilograms. The mortality rate amongst neonates who suffer from renal failure is as high as 60% and the company intends to reduce this number with the new technology.
North America to dominate the global market during the forecast period.
The global fluid management systems market is expected to be led by North America during the forecast period owing to the increasing number of chronic diseases. The USA has witnessed a high number of End-Stage Renal diseases (ESRD) in the last couple of years. The disease leads to permanent failure of kidney functions. In 2020, as per reports submitted by the United States Renal Data System, over 8 lakhs of the American population suffered from ESRD where more than 69% required dialysis and the rest needed kidney transplantation.
Asia-Pacific is also showing excellent signs of growth because of the rising investments in the healthcare sector in regions like Japan , China , India , and Singapore . The regions are witnessing high medical tourism owing to the presence of cost-effective treatment facilities. Higher demand for minimally invasive operations is expected to aid regional growth, especially in Japan .
Global Fluid Management System Market is segmented as follows:
Fluid Management System Market: By Product Type Outlook (2022-2028)
Fluid Management Disposables & Accessories
Fluid Management System Market: By End User Outlook (2022-2028)
Fluid Management System Market: By Application Outlook (2022-2028)
Fluid Management System Market: By Region Outlook (2022-2028)
Rest of Middle East & Africa
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Surgical Drainage Devices Market - Global Industry Analysis: The global Surgical Drainage Devices Market accrued earnings worth approximately 1.12 (USD Billion) in 2020 and is predicted to gain revenue of about 3.20 (USD Billion) by 2028, is set to record a CAGR of nearly 5.7% over the period from 2021 to 2028.
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