The global fluid management market is anticipated to grow at a healthy 5.3% CAGR from 2020 to 2025. According to a report by Fact.MR, fluid management practices in healthcare facilities are in high demand to treat coronavirus patients in critical condition. Fluid management market players are actively managing transport, storage, and supplies, in addition to financially investing into healthcare infrastructure to support market activity during the crisis period.
“Development of new fluid management systems, supported by favorable government initiatives towards healthcare, and the expansion of global infrastructure in the healthcare sector are key factors that aid improvements in fluid management. Further, the growing per capita income of developing economies will aid in the global expansion of fluid management systems for the foreseeable future,” says the FACT.MR study.
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Fluid Management Market- Key Takeaways
- Renal fluid management systems are rapidly gaining traction owing to higher incidences of kidney ailments and popularity of dialysis procedures.
- Hospitals will remain the primary end user of the fluid management market owing to increasing hospital admission rates over chronic renal infections.
- North America is a major fluid management market owing to better access to reimbursement and new technologies.
Fluid Management Market- Driving Factors
- Rising incidences of chronic ailments including orthopedic disorders, otoneurologic disease, and GI tract disorders will support adoption of fluid management systems.
- Higher patient bias towards non-invasive or minimally invasive surgical procedures are contributing to market growth.
- Transition towards disposable instruments in fluid management procedures generates lucrative opportunities.
Fluid Management Market- Major Restraints
- High cost of purchasing fluid management devices is a key factor holding back market growth.
- Lack of awareness among patients about fluid management procedures is restraining adoption rates.
COVID-19 Impact on Fluid Management Market
The fluid management market is expected to gain additional impetus during the coronavirus pandemic, owing to its requirement in cases of critically ill patients who might be impacted by pulmonary edema, needing hemodynamic support. Market players are expected to focus on maintaining inventories and optimizing distribution networks to keep up with the unprecedented rise in cases of covid-19 hospitalizations.
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Fluid managements market players are focusing on product launches and innovation for higher efficacy. For instance, Watson-Marlow Fluid Technology Group has launched its Certa Plus fluid management sinusoidal pumps. Karl Storz GmbH, Baxter, Boston Scientific Corp., C.R. Bard Inc., Stryker, Smith & Nephew, Cardinal Health Inc., B. Braun Holding GmbH, and Fresenius SE & Co. are some of the top fluid management market players.
About the Report
This study offers readers a comprehensive market forecast of the fluid managements market. Global, regional and country-level analysis of the top industry trends impacting the fluid managements market is covered in this FACT.MR study. The report offers insights on the fluid managements market on the basis of product (infusion therapy systems, and renal systems), application (urology, cardiology, orthopedic, neurology, oncology, gastroenterology, and others) and end users (hospitals, clinics, dialysis centers, home care settings, and others), across five regions (North America, Latin America, Europe, Asia Pacific, and MEA).