14-Jul-2022 | Zion Market Research
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.
The fluid management system is an upcoming method of managing body fluid consisting of management of medical fluid needs of a patient as well as fluid medical waste coming out of operating rooms. These systems are now replacing the old methodologies because of their increased efficiency. Fluid management systems have the capability to replace chemical solidifiers that are an exposure risk along with single-use disposable plastic suction canisters, thus aiding reduction in costs related to waste disposal. Fluid management systems have proven to reduce the overall expenses by over $50,000 annually while also reducing the risks associated with occupational hazards resulting due to exposure to infectious and harmful fluid-related components.
The advanced fluid management systems offer additional benefits like air filtration, accurate fluid measurement, enclosed processing, vacuum control, and smoke evacuation making these systems desirable in the healthcare sector. The initial cost of the FMS may be high but over the years, they have proven to provide excellent benefits like return on investment in the initial 2 to 3 years, efficient operating-room cleaning & improved disposal process, and reduction in medical plastics.
Covid-19 had a moderate impact on the global market since the initial disruption was due to a tedious supply chain caused by transportation restrictions across the globe. But the demand for the products remained high owing to an increased need for patient care, especially in regions that were adversely affected by Covid-19 like the USA, China, India, and Africa, to name a few.
The rise in the number of medical cases that require fluid management is expected to aid the global fluid management market growth during the projection period. In operational procedures that deal with the transfer of blood, blood plasma, or other such fluid components, it becomes imperative to use advanced fluid management systems that can also perform other functions like fluid monitoring, filtration, irrigation, or fluid warming. The newly launched fluid management systems are extremely advanced and capable of multi-functioning with the desired accuracy which may also assist in global market expansion. There is a significant rise in the number of manufacturers producing dialyzers to meet the growing global demand with excellent features. The U.S FDA-approved dialysis machine manufactured by NxStage Medical Inc. known as System One. is popular for conducting hemodialysis at home and within a few hours. Such innovations are expected to propel the global market forward.
The high cost pertaining to the fluid management devices may restrict the global market growth. However, the increasing investment in fluid management systems is expected to provide lucrative growth opportunities. Nonetheless, the lack of skilled professionals in emerging economies is anticipated to create challenges in global market growth.
The global fluid management systems market is segmented by end-user product type, application, and region.
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.
Based on product type, the global market segments are fluid management systems and fluid management disposables & accessories. Fluid management systems are segmented into integrated fluid management systems & standalone fluid management systems. Fluid management disposables & accessories are 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 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.
North America is anticipated to lead the global fluid management systems market during the forecast period owing to excellent ambulatory services in the regions like the USA and Canada. Ambulatory services in North America are highly equipped and since they are the first medical caregivers in case of emergencies, they are installed with highly advanced fluid management systems in terms of disposables and accessories. The regional growth can also be attributed to the advanced healthcare infrastructure.
Asia-Pacific is projected to register high CAGR during the forecast period majorly due to the rising population and a subsequent number of medical cases. The healthcare sector in regions like China, India, Singapore, and Malaysia is growing tremendously which will aid the regional growth in the coming years along with the rising number of strategic entries of international players in Asia-Pacific.
The global fluid management system market is dominated by players like Stryker Inc., Baxter International Inc., Fresenius Medical Care, DePuy Synthes, Cardinal Health Inc., Medtronics PLC, and Olympus Corporation.
Browse the full “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.” Report at https://www.zionmarketresearch.com/report/fluid-management-systems-market
The global fluid management systems market is segmented as follows:
By Product Type:
By End User
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