Fluid Management Systems Global Market is estimated to be worth $12,803.8 million by 2023
Fluid Management Systems (FMS) refers to the various devices used by surgeons to maintain the body fluids in patients before, during and after surgery. These devices are classified into preoperative, Intraoperative and postoperative Fluid Management Systems. Surgeons employ the preoperative FMS to investigate any pre-existing conditions, diseases, injuries, and all vital signs to assess complications. During surgery, Intraoperative fluid management devices aid surgeons in improving the visualization and distention of cavity; postoperative fluid management devices are helpful in reviving the patient who has undergone surgery through fluid resuscitation. Additionally, hemodynamic monitors are used to monitor and avoid complications such as hypovolemia, for instance, Deltex medial (EDM & EDM+) and Cheetah medical (Starlings SV and NICOM). Imbalance or low level of sodium results in hyponatermia, to avoid this, saline is administered and due to fluid overload hypervolemia occurs for this suction devices are employed where excess fluid is pumped out. To avoid hypothermia fluid warmers are employed and all these are connected using various types of tubing sets are used.
According to IQ4I analysis, the fluid management systems global market is expected to grow at mid single digit CAGR to reach $12,803.8 million by 2023. Rise in aging population and lifestyle diseases, increase in minimally invasive surgery procedural volume, technological advancements are some of the factors driving the fluid management systems global market. Rise in use of single use or disposable devices, untapped market of fast growing emerging markets is providing opportunities for fluid management systems market. However, non-availability of skilled professional such as surgeons, nurses and laboratory technicians and high cost of endosurgical procedures, stringent device approval rules, availability of alternatives are hindering the market growth.
The fluid management systems global market is segmented into products, applications, end-users, and geography. The fluid management systems product market is segmented into fluid management systems and disposables and accessories. Based on applications, market is segmented into urology, gynecology, arthroscopy, gastroenterology, cardiology, pulmonology, otolaryngology, neurology and others. The urology segment accounted for the largest share and gastroenterology segment is expected to grow at a strong CAGR. Among the various end users, hospital segment generated the largest revenue in 2016 due to increase in volume of minimally invasive surgeries.
The developed regions of North America commanded the largest market share in 2016 due to increasing volume of aged patients requiring various surgeries. However, Asia-pacific region is expected to grow at the highest CAGR due to increased healthcare awareness and improved economic growth.
Technological advancements in FMS include development of new materials for dialyzers, a new polymer based hollow fibre membrane is being developed made of polyethylene glycol-polyethylene terephthalate block copolymer membrane which can selectively filter harmful proteins and retain useful proteins and leucocytes. One more advantage of the fibre is that this reduces the need for heparin to prevent blood clotting and superior biocompatibility.
The fluid management systems market is dominated by the company manufacturing dialyzers such as Fresenius, Baxter, Nipro and B.Braun as the hemodialysis business segment is more organized and the operators are end to end service providers. These companies control major part of the market share. Other companies, manufacturing products such as suction/irrigation devices, insufflators, catheters, tubing sets, bloodlines, fluid waste management devices, fluid warmers occupy remaining market. Companies manufacturing these devices include Arthrex, C.R. Bard, Cardinal health, Coloplast, Smiths Group, Smith & Nephew, Stryker and Zimmer Biomet.
Major players in the fluid management systems global market are Arthrex, Inc (U.S.), Fresenius SE & Co. KGAA (Germany), Baxter International (U.S.), Coloplast (Denmark) Nipro Corporation (Japan), Smith & Nephew (U.K.), C.R.Bard (U.S.), Cardinal Health (U.S.), B. Braun Melsungen AG (Germany), Smiths Group (U.K.), Zimmer Biomet (U.S.), Ecolab, Inc (U.S.), Stryker Corporation (U.S.)