Present and Future of Fluid Management Devices Market
Fluid Management Systems (FMS) refers to the various devices used by surgeons to maintain the body fluids in patients before, during and after surgery. Surgeons employ the FMS to investigate any pre-existing conditions, diseases, injuries, and all vital signs to assess complications. During surgery, these devices aid surgeons in improving the visualization and distention of cavity and are helpful in reviving the patient who has undergone surgery through fluid resuscitation. The fluid management system includes dialyzers, liquid waste management devices and their accessories and disposable add-ons such as catheters, tubing sets, pressure monitors, canisters, etc which play a critical role during surgeries and recovery of patients after surgery.
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.
The fluid management system market is consolidated and dominated by 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 with forward and backward integration i.e. these companies not only manufacture hemodialysis units they also run dialysis clinics where there is a large patient pool who are waiting for donor kidney. These companies control substantial market share. Other companies, manufacturing products such as dialyzers, suction/irrigation devices, insufflators, catheters, tubing sets, bloodlines, fluid waste management devices, fluid warmers occupy remaining market.
Currently, the fluid management devices market is dominated by standalone devices such as insufflator, irrigation systems, fluid was management devices, fluid warmers and smoke evacuation systems. The popularity and adoption of minimally invasive surgery (MIS) has made them as an indispensable part of operation room. However, the emerging trend is the increasing adoption of integrated devices combines two or more functionality of standalone devices decreasing the cost to own, operate these systems and space required for their installation.
Another trend is the availability of fluid management devices that discharge the surgical fluids directly in to drain which address the problem of storing and disposing of hazardous waste material increasing the safety of personals coming in contact as part of their routine. The changing regulatory scenario and requirement to comply with employee safety and environmental safety such as operational safety and health administration (OSHA) and environmental protection agency (EMA) in U.S. and similar requirements in various other geographies is driving the adoption of these systems.
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.)