The global fluid management systems market was valued at USD 8.9 billion in 2021 and it is anticipated to grow further up to USD 30.6 billion by 2031, at a CAGR of 13.1% during the forecast period.
Maintaining appropriate fluid levels in the body involves either administering intravenous fluids or doing procedures like dialysis. Important components of the fluid management system include perioperative fluid management, postoperative fluid management, endoscopic fluid management, management of fluid levels in critically ill patients, fluid management in chronic kidney diseases, and IV treatments for dehydration brought on by diarrhea and vomiting.
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Market Trends and Drivers
Minimally invasive procedures have a number of benefits over open procedures, including less postoperative problems, quicker hospital stays, and lower chances of surgical site infections. Numerous minimally invasive procedures are considered outpatient procedures, meaning the patient is not required to spend the night in a hospital. By choosing minimally invasive procedures over open surgery for routine procedures on the appendix, colon, and lungs, hospitals in the US could collectively avoid thousands of post-surgical complications and save between USD 280 and 340 million each year.
In numerous nations around the world, health insurance providers are progressively covering minimally invasive surgeries. Many patients and doctors choose minimally invasive operations over other surgical treatments due to their benefits. As of 2017, more than 7.5 million surgical and minimally invasive cosmetic treatments were carried out in the US; this number is expected to increase by 2% a year (Source: American Association of Pharmaceutical Scientists). The need for fluid management systems and accessories is also anticipated to increase as the number of minimally invasive cancer treatments increases.
Market Restraints and Challenges
Due to the substantial usage of specialist equipment and extended surgery time, minimally invasive operations are more expensive than open surgeries. For the majority of hospitals in underdeveloped nations, the investment expenses for endoscopic equipment are very high. The average cost of an HD colonoscopy equipment is between USD 100,000 and USD 120,000, which is a remarkably significant investment for healthcare practitioners in developing countries like India, Brazil, and Mexico that have less money to spend on high-end technology. The operating cost of any endoscopy system purchased by the healthcare provider will also be increased by the need for employees to be trained in the use and maintenance of endoscopic systems and equipment.
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Major Players in the Global Fluid Management Systems Market
The key players studied in the global fluid management systems market are Fresenius Medical Care AG & Co. KGaA (Germany), Baxter International Inc. (US), Cardinal Health, Inc. (US), B. Braun Melsungen AG (Germany), Stryker Corporation (US), Olympus Corporation (Japan), Medline Industries, Inc. (US), KARL STORZ GmbH & Co. KG (Germany), Ecolab Inc. (US), Smiths Medical (UK), Zimmer Biomet Holdings Inc. (US), Medtronic plc (Ireland), FUJIFILM Holdings Corporation (Japan), CONMED Corporation (US), Hologic, Inc. (US), Arthrex, Inc. (US), Thermedx, LLC. (US), COMEG Medical Technologies (Germany), and EndoMed Systems GmbH (Germany).
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Reasons to buy Fluid Management Systems Market Report:
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