The report “Fluid Management Systems Market by Product (Standalone (Dialyzers, Insufflators, Suction) Integrated Systems, Disposables, Accessories), Application (Urology, Nephrology, Laparoscopy) End User (Hospitals, Dialysis Centers) – Global Forecast to 2025 “, is projected to reach USD 16.1 billion by 2025 from USD 8.5 billion in 2020, at a CAGR of 13.6% during the forecast period. Growth in this market is driven by the increasing number of minimally invasive surgeries, increasing ESRD patient base, technological advancements in fluid management systems, and an increase in government funds and grants worldwide for endosurgical procedures, rising number of hospitals, and investments in endoscopy and laparoscopy facilities are driving the fluid management systems and accessories market. The untapped potential in emerging markets and the rising use of single-use disposable devices and accessories are also expected to offer growth opportunities for players operating in the fluid management systems and accessories market.
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Drivers: Rising number of minimally invasive surgeries
Compared to open surgeries, minimally invasive surgeries are associated with a wide range of advantages—fewer postoperative complications, shorter recovery periods (shorter hospital stay), and lower risks of surgical site infections. Many minimally invasive surgeries are considered outpatient surgeries in which the patient does not need to stay overnight in a medical facility. According to a blog published in Surgical Solutions, hospitals in the US could collectively prevent thousands of post-surgical complications and save around USD 280–340 million every year by opting for minimally invasive surgeries instead of open surgery for routine operations of the appendix, colon, and lungs.
Minimally invasive surgeries are also increasingly being covered by health insurance providers in various countries across the globe. Due to their advantages, many patients and physicians opt for minimally invasive surgeries over other surgical procedures. More than 7.5 million surgical and minimally invasive cosmetic procedures were performed in the US as of 2017; this is projected to rise by 2% per year (Source: American Association of Pharmaceutical Scientists).
The growing number of minimally invasive cancer treatment procedures can also be expected to contribute to the demand for fluid management systems and accessories.
Restraints: High cost of endosurgical procedures
The cost of minimally invasive surgeries is higher than that of open surgeries due to the extensive use of specialized equipment and increased surgical time. The investment costs for endoscopic equipment are extremely high for most hospitals in developing countries. An HD colonoscopy system’s average price ranges between USD 100,000 and USD 120,000—an exceptionally high investment for healthcare providers in developing nations such as India, Brazil, and Mexico, who have lower financial resources to invest in sophisticated technologies. Also, personnel must be trained to handle and maintain endoscopy systems and equipment, adding to the operational cost for any endoscopy system acquired by the healthcare provider.
Owing to the high capital, training, and maintenance costs, endoscopy procedures are generally expensive. For instance, the average cost of a colonoscopy procedure ranges from USD 2,000–3,000 in many developing countries. Also, in most Asian countries, there is limited or no reimbursement for endoscopy procedures. The higher costs of endoscopic procedures typically prompt physicians and patients to opt for alternative, lower-priced methods, thereby limiting the adoption of endoscopic procedures across the world and affecting the growth of dependent industries such as fluid management systems and accessories.
Opportunities: Untapped potential in emerging markets
Emerging countries (such as China, India, South Korea, Brazil, and Mexico) offer significant growth opportunities to players operating in the global fluid management systems and accessories market. This can be attributed to the increasing public and private initiatives undertaken by market stakeholders across these countries, low regulatory barriers for trade, continuous improvements in healthcare infrastructure, growing patient population, rising healthcare expenditure, strengthening distribution networks of market leaders in these regions, and the rising medical tourism in these countries. The availability of high-quality surgical treatments at lower costs than developed markets has attracted many medical tourists.
Key Market Players
The prominent players in fluid management systems market are Fresenius Medical Care AG & Co. KGaA (Germany), Baxter International Inc. (US), Cardinal Health, Inc. (US), Stryker Corporation (US), Olympus Corporation (Japan), B. Braun Melsungen AG (Germany), Medline Industries, Inc. (US), KARL STORZ GmbH & Co. KG (Germany), Ecolab Inc. (US), Smiths Medical (UK), Zimmer Biomet Holdings Inc. (US), Medtronic plc (Ireland), FUJIFILM Holdings Corporation (Japan), CONMED Corporation (US), Hologic, Inc. (US), Arthrex, Inc. (US), Thermedx, LLC. (US), COMEG Medical Technologies (Germany), and EndoMed Systems GmbH (Germany).
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The accessories and disposables segment is expected to grow at the highest CAGR during the forecast period
By product, the fluid management systems and accessories market is segmented into systems and accessories and disposables. The accessories and disposables s segment is expected to register the highest CAGR during the forecast period. The high growth of this segment can be attributed to the repeated purchase of accessories and disposables and an increasing number of minimally invasive surgeries.
The standalone fluid management systems segment is expected to account for the largest share of the fluid management systems and accessories market
By type, the fluid management systems market is segmented into standalone fluid management systems and integrated fluid management systems. The standalone fluid management systems segment accounted for the largest share of the fluid management systems market in 2019. Standalone fluid management systems are less expensive than integrated systems. This is a major factor contributing to the high adoption of these products in hospitals, especially in developing countries.
The laparoscopy application segment is expected to grow at the highest CAGR during the forecast period
Based on application, the fluid management systems and accessories market is categorized into urology and nephrology, gastroenterology, gynecology/obstetrics, laparoscopy, bronchoscopy, cardiology, arthroscopy, otoscopy, dentistry, neurology, and other applications. The laparoscopy application segment is expected to register the highest CAGR during the forecast period. Growth in this application segment is mainly due to the growing shift towards minimally invasive procedures, which, in turn, boosts the number of laparoscopic surgeries performed worldwide.
The hospitals end-user segment is expected to account for the largest share of the fluid management systems and accessories market
The fluid management systems and accessories market, by end-user, is segmented into hospitals, dialysis centers, ambulatory surgical centers, and other end users. The hospital segment accounted for the largest market share in 2019. Hospitals are the largest end-users of fluid management systems and accessories, as a large number of surgical procedures are performed in these facilities. Moreover, the increasing preference for minimally invasive surgeries (MIS) has also driven the use of laparoscopic and endoscopic surgeries in hospitals.
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Asia Pacific is expected to account for the highest CAGR for players operating in the fluid management systems and accessories market
The Asia Pacific fluid management systems and accessories market is expected to grow at the highest CAGR from 2020 to 2025. Factors such as the favorable environment for the growth of the fluid management systems and accessories market in Japan, Japan’s Revitalization Strategy, penetration of key players into China’s fluid management systems and accessories market, increasing infrastructure to support minimally invasive procedures in India, and growth of medical tourism and number of hospitals in Asian countries have contributed to the rapid growth of the fluid management systems and accessories market in the Asia Pacific.
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