Fluid Management Systems Market

Market Overview

The global fluid management systems market size is expected to grow at a CAGR of 12.8% between 2022–2030.

Fluid management systems are utilized to maintain the same levels of body fluids. The disturbance in these levels can create various complications and pose a significant risk to the person's life. These processes have the upper hand over others because of the low risk of tissue damage, quick recovery, and shorter hospital stays. The fluid management systems market offers various products: fluid warming systems, dialyzers, fluid waste management, evacuation, insufflators, etc. It is segmented by product, application, end-users, and regions.

Market Dynamics

Market Drivers

Rising Demand for Minimally Invasive Procedures to Boost the Market

Minimally invasive products are advantageous because they are cost-effective, safe, less painful, and diminish surgical complications. On March 25, 2016, John Hopkins investigators published a study highlighting the cost difference between traditional open surgery and minimally invasive surgery. The research states that hospitals could minimize post-surgical complications effectively and save between USD 280 million to USD 340 million in a year by using minimally invasive2019 products. The reduced cost is a critical factor that drives the market.

The utilization of the fluid management systems is rising in the procedures like fluid irrigation, pressure monitoring, fluid waste collection, and fluid warming in various nonsurgical procedures. This is escalating the demand for minimally invasive products in the market. The health insurance providers that cover the cost for minimally invasive surgeries are also increasing worldwide. Over 7.5 million cosmetic surgeries using minimally invasive products were performed in the U.S. in 2017.

All these factors, including the rising numbers of minimally invasive cancer treatment processes, are predicted to promote the growth of the global fluid management systems market during the forecast period.

An Increase in the Cost of Endo-Surgical Procedures to Obstruct its Demand

Due to the intensive use of specialist equipment and the increased surgical time, the cost of minimally invasive procedures is greater than open surgeries. The investment expenses for endoscopic equipment are higher in most developing-country institutions. The typical cost of HD colonoscopy equipment varies between USD 100,000 to USD 120,000, which is a highly significant investment for healthcare providers in developing countries such as India, Brazil, and Mexico. They have limited financial resources to invest in complex technology.

Besides, personnel must also be trained to manage and maintain endoscopic systems and equipment, which adds to the operating cost of any endoscopy system purchased by the healthcare facility. Endo-surgical procedures are often expensive due to the significant capital requirement, training, and maintenance expenditures.

For example, in many developing nations, the typical cost of a colonoscopy operation varies from USD 2,000–3,000. Further, in most Asian countries, payment for endoscopic procedures is restricted or non-existent. The rising prices of endoscopic operations often drive physicians and patients to choose other low-cost alternatives, limiting the global acceptance of endoscopic procedures and influencing the growth of dependent sectors such as fluid management systems and accessories.

Growing Demand for Fluid Management Systems from Emerging Economies

China, India, South Korea, Brazil, and Mexico are emerging markets for fluid management systems, and they present considerable growth potential for worldwide fluid management systems and accessories market participants. This can be attributed to the increasing public and private initiatives undertaken by market stakeholders across these countries, low trade regulatory barriers, continuous improvements in healthcare infrastructure, a growing patient population, rising healthcare expenditure, the strengthening distribution networks of market leaders in these regions, and the rise of medical tourism in these countries.

Many medical tourists have been drawn to providing high-quality surgical services at cheaper rates than in established markets. Further, APAC accounts for most of the world's population; of 7.79 billion people (as of the end of 2020), 4.66 billion reside in APAC. China and India account for 30.9% and 29.6% of the APAC population, respectively. In addition, these nations have many patients for renal, pulmonary, gastroenterological, and gynecological illnesses.

Moreover, rising disposable incomes and healthcare costs in developing economies throughout APAC and Latin America have made it simpler for people to obtain modern therapies. These rising markets are underserved by large companies, indicating enormous untapped market potential. With appropriate investment plans, successful entry into these growing markets can ensure rapid growth for any global fluid management system provider.

Regional Analysis

Significant Growth in America and Europe

North America was the largest market for fluid management systems in 2021, followed by Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Fluid management systems and accessories are a lucrative and well-established sector in North America.

The main drivers driving the growth of the fluid management systems and accessories market in North America are:

• Technical improvements.
• The availability of a favorable reimbursement environment.
• Increased prevalence of illnesses such as ESRD cancer.
• Greater acceptance of innovative technologies.

Another important reason contributing to this market segment's significant share is the presence of many global companies in this area.

Europe is the second-largest market for fluid management systems and is expected to grow at a CAGR of 12.86% by 2030. This can be attributed to the increasing frequency of gastrointestinal and urological diseases and a large number of patients undergoing cardiovascular procedures.

Segmental Analysis

The fluid management systems market is divided into fluid management systems and disposables and consumables. In 2021, the fluid management systems segment held the most significant market share. The lower cost of fluid management systems than accessories and consumables explains the segment's dominance.

The fluid management systems and accessories market is divided into urology and nephrology, gastroenterology, gynecology/obstetrics, laparoscopy, cardiology, arthroscopy, neurology, and others, depending on the applications. The urology and nephrology sector is predicted to increase at the fastest CAGR during the forecast timeline. The continuous move toward minimally invasive treatments, which increases the number of operations performed globally, is driving growth in this application area.

Hospitals, dialysis centers, ambulatory surgery centers, and other end-users are the main segments of the worldwide fluid management systems and accessories market. In 2021, the hospitals' segment had the biggest market share, and it is expected to grow at the fastest rate over the forecast period. The significant number of surgical operations conducted in these institutions accounts for this end-user category's substantial share and robust growth rate.

Impact of covid-19

The COVID-19 pandemic has caused a global healthcare crisis, leading to changes in healthcare delivery in the majority of areas. COVID-19 is more likely to infect surgeons and patients who visit hospitals for various procedures. Most countries throughout the world proclaimed a state of emergency and imposed lockdowns. Most non-essential treatments and in-hospital therapies, such as elective surgeries, were postponed in the first half of 2020 to limit the spread of the virus and reduce the strain on healthcare infrastructure.

Almost all hospital resources were devoted to providing masks and personal protective equipment (PPE), restricting staff movements, and stopping elective operations. According to Indiana University academic researchers, doctor visits declined by roughly 40% in the first six weeks of the epidemic in the United States, beginning in early March to mid-April.

In the first half of 2020, the number of surgeries declined by 70–80%. As per a report published in the Indian Journal of Surgery in June 2020, outpatient consultations and non-emergency operations decreased from more than 20 cases per day and 40 procedures each month in the first half of 2020 to nearly zero instances. 

This has had a significant influence on healthcare income, as elective procedures account for 20% of overall healthcare revenue in the United States. Although demand for healthcare increased once restrictions were relaxed or lessened, the number of elective surgeries performed after the lockdown is yet to catch up with the pre-COVID-19 situation. This may harm the surgical equipment industry, including fluid management systems and accessories.

Recent Developments

• February 2019 – Fresenius Medical Care acquired NxStage Medical, Inc., a U.S.-based home dialysis reader. 
• June 2020 – Fresenius Medical Care, based in Germany, opened more than 100 new transitional care units (TCU) centers in the U.S.
• January 2021 – Hologic Inc. launched its new, CE-marked fluent fluid management system in Europe.