Fluid Management Market expected to grow at a CAGR of 9.2% by 2032, due to the rising ESRD patient population | insightSLICE
The global Fluid Management market is predicted to be worth US$ 14.1 billion in 2021, with a CAGR of 9.2% from 2023 to 2032.
During medical interventions, fluid management devices regulate the flow of blood, saline, and other liquids into and out of the body. Fluid management eliminates difficulties caused by abnormal or undesirable fluid volume and aids in maintaining fluid balance.
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Global Fluid Management Market Key Segments:
- Infusion Therapy Systems
- Infusion Devices
- IV Access Devices
- IV Solutions & Products
- Renal Systems
- In-center Hemodialysis Products
- Home Hemodialysis Products (HHD)
- Peritoneal Dialysis
- Acute Dialysis Products
- Others (Anesthesiology, Bronchology, Dentistry, Otology and Gynecology)
- Dialysis Centers
- Home Care Settings
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- South America
- Rest of South America
Fluid management systems are used to keep body hydration levels constant in patients. Disruptions in these levels can cause a variety of issues and constitute a significant danger to the person’s life. Due to the reduced risk of tissue damage, fast healing, and reduced hospital, these techniques have an advantage over others.
Fluid warming systems, fluid waste management, dialyzers, insufflators, and other products are available in the fluid management systems market. Minimally invasive devices are beneficial because they are less expensive, safer, less painful, and reduce severe complications.
The global fluid management market is expected to develop dramatically as a result of new technology advancements, increasing government financing, and an expansion in the number of minimally invasive surgeries.
Rising government spending on chronic diseases and a high acceptance rate of innovative surgical treatments are further factors driving the growth of this market. Rising disposable income in emerging markets is also predicted to boost the global demand for this product.
The key players of the Global Fluid Management Market are:
Hologic Inc, Stryker Inc, Medtronics PLC, Baxter International Inc, Cardinal Health Inc, Fresenius Medical Care, Olympus Corporation, DePuy Synthes (a J&J. Company), and others are strong competitors in the worldwide fluid management market.
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Driving factors for the growth of Global Fluid Management Market
Strong revenue was also generated by fluid management system applications in cardiology, neurology, and dentistry, and demand in all these sectors is expected to rise significantly during the forecast period. Endoscopy for internal visual diagnosis of individuals is in high demand due to the ease and precision with which these approaches can establish medical opinions.
The rising prevalence of chronic cardiac disorders, as well as ongoing R&D for revolutionary portable endoscopic devices, are expected to drive demand for fluid management systems in this sector.
Endoscopic cameras are also expected to develop at the quickest rate due to the expanded healthcare system, growing demands for noninvasive procedures, and expanding research activity. The endoscopy segment will in turn generate a significant requirement for fluid management devices, and thus enable market growth.
Increase in prevalence of chronic conditions
The growing elderly population with chronic diseases, as well as technological advances in nonsurgical treatments, have increased the global fluid management market.
Over the projected period, the growing prevalence of chronic diseases linked to the neurological, gastrointestinal tract, musculoskeletal, and nephrology problems is likely to boost consumption in the fluid management systems market. Several international studies have indicated that minimally invasive technologies save millions of dollars and save hundreds of post-surgical problems.
The rising global risk of chronic diseases has raised the number of patients in their latter stages, causing a rise in hospitalization. End-Stage Renal Disease (ESRD) is a disorder that affects patients’ kidneys.
One of the key signs of this stage is severely damaged kidneys and absolute loss of functionality. This demands ongoing long-term kidney transplantation or dialysis. This condition is among the primary driver of global fluid management system sales.
Regional performance of Fluid Management Market
Because of rapid technological development, high medical reimbursement facilities, and growing request for minimal assistance from hospitals in the region, the North American region dominates the fluid management systems market.
Asia-Pacific is predicted to develop at a substantial rate from 2021 to 2028, owing to strong demand for minimally invasive operations, an increase in healthcare infrastructure, and increased research activity on endoscopic cameras, primarily in Japan.
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COVID-19 impact on Fluid Management market
The global pandemic COVID-19 has provided various chances for biotechnology and pharmaceutical businesses to raise their research and development funds to provide fluid management assistance to critically ill patients.
The requirement for crystalloids for the acute resuscitation of individuals is growing in tandem with the number of clinical trials underway. The situation has improved since the pandemic, and all companies are returning to normal. As a result, the market for fluid management systems will grow in the future years.
Challenges of Global Fluid Management Market
The global surgeon scarcity, a lack of awareness among consumers about diseases such as end-stage kidney disease, and the high prices of endo-surgical treatments are projected to stymie the expansion of the fluid management systems market.
Medical fluid manufacturing is a difficult and expensive process that necessitates capital improvements, clinical trial experience, product testing, analytical criteria, and technical capabilities.
Regulatory authorities may request extra clinical and preclinical information to show that the manufacturing technique had no impact on the product’s effectiveness or safety. These factors will result in a hindrance to market growth if not tackled properly.
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