Impact Assessment of COVID-19 Outbreak on Fluid Management Systems Market
Fluid Management Systems Market: Introduction
Fluid management entails maintenance of normal fluid levels in the body either though administration of intravenous fluids or procedures such as dialysis. Perioperative fluid management, postoperative fluid management, and endoscopic fluid management, management of fluid levels in critically ill patients, fluid management in chronic kidney diseases, and IV therapies for dehydration caused by diarrhea and vomiting are important aspects of the fluid management system.
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Key Drivers and Restraints of Global Fluid Management Systems Market
Rise in number of dialysis centers across the world
- The number of dialysis centers is increasing globally. This is projected to drive the fluid management market during the forecast period.
- According to the Centers for Medicare and Medicaid Services, there were 5,698 dialysis centers in the U.S. in 2010, as against 4,789 dialysis centers in 2005. Furthermore, governments of emerging countries are establishing new dialysis centers and improving current dialysis centers.
- In 2013, Abu Dhabi Health Services Company and Abu Dhabi General Services Company announced a plan to establish a state-of-the-art dialysis center in Abu Dhabi, the UAE. The dialysis center would consist of 66 kidney dialysis units. Hence, increase in the number of dialysis centers coupled with related initiatives taken by respective governments is anticipated to offer significant opportunities for players in the market.
- Initiatives have been taken by leading players in the global fluid management systems market to reach maximum ESRD patients across all the regions by increasing dialysis centers. B. Braun Melsungen AG alone has more than 300 centers in Europe, Africa, and Asia Pacific.
- On World Kidney Day, on March 9, 2017, Fresenius Medical Care launched a brand new Asia Pacific-wide corporate social responsibility initiative through a series of public awareness events reaching 6600 children, parents and carers — as well as media, key renal health partners, and government
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Stringent Regulatory Approval Procedures
- Stringent regulatory requirements and the lengthy process of FDA approvals have discouraged OEMs of medical devices in the U.S., who are now eying other regions, such as Asia and Latin America, to launch newer products in the market
- The major barrier currently faced by orthopedic devices manufacturers is the high investments made for R&D and clinical trials. Slow approval processes are driving costs and minimal return on investment for stakeholders.
- Extensive number of device recalls has made a dramatic impact not only on sales, but also customer confidence
- For instance, in September 2012, there was an urgent voluntary product recall named FMS intermediary tube used with fluid management systems that connects the inflow tubing to the arthroscopic sheath during arthroscopic procedures. Such recalls hamper the market.
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Fluid Management Systems Market: Segmentation
- In terms of product, the fluid management systems market can be divided into infusion therapy products, renal products, and endoscopic fluid management systems
- The infusion therapy products segment includes infusion devices, IV access, and IV solutions & products.
- The renal products system comprises in-center hemodialysis products, home hemodialysis (HHD) products, peritoneal dialysis products, and acute dialysis products
- Endoscopic fluid management systems include suction and irrigation devices, and accessories, irrigation solutions, insufflators; and integrated fluid management systems
- In terms of application, the fluid management systems market can be split into urology, cardiology, orthopedic, neurology, oncology, gastroenterology, and others (anesthesiology, bronchology, dentistry, otology, and gynecology)
- Based on end-user, the global fluid management systems market can be segregated into hospitals, clinics, dialysis centers, home care settings, and others
Asia Pacific Fluid Management Systems Market to Expand at a Rapid Pace
- In terms of region, the global fluid management systems market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America and Europe are prominent regions of the fluid management market, led by the highest per capita disposable income of the people, increase in incidence and prevalence of chronic diseases, and growth in geriatric population
- Asia Pacific and Latin America are emerging regions of the fluid management market owing to the strong economic growth over the last decade, changing lifestyles of the populations leading to high incidence of lifestyle diseases, and increasing number of surgical procedures performed in these regions
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Leading Players Operating in Global Fluid Management Systems Market
The global fluid management systems market was highly fragmented in 2019. Key players operating in the global fluid management systems market are:
- Baxter
- Becton, Dickinson and Company
- Braun Melsungen AG
- Boston Scientific Corporation
- Cardinal Health
- Fresenius SE & Co. KGaA
- KARL STORZ
- Smith & Nephew
- Stryker
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