Companies in the Fluid Management Market are facing issues in keeping their production facilities fully functional due to shortage of staff and resources amidst the COVID-19 (Coronavirus) outbreak. Get a hands-on over key drivers and threats to the Fluid Management Market to make your company future-ready post the pandemic. Avails out reports for exciting prices to learn new opportunities that companies can capitalize on during and after the Coronavirus crisis.
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Fluid management is an integral component of patient care. It entails regulation and maintenance of overall fluid levels within the body. Each patient’s individual fluid needs differ, making the process extremely delicate. Fluid Management has shown increased application among patients suffering from end-stage renal disease (ESRD), an adverse condition arising out of diabetes.
Since kidney function drops to only 10-15% in this stage, it becomes very important to manage the fluid build-up inside the blood. On the back of this trend, the global fluid management market is anticipated to register a moderate growth of 5.3% during the forecast period (2020-2025)
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Key Takeaways of Global Fluid Management Market Study:
- Infusion therapy is set to dominate the global fluid management market, capturing more than half of the total market share. Demand for intravenous fluid administration to dehydrated patients unresponsive to oral therapy is poised to steer the market forward.
- The renal products segment is anticipated to catch up, expanding at a CAGR of 5.5%. Increasing number of kidney patients has augmented the need for dialysis procedures and devices such as renal disposables and ancillaries, saline solutions & concentrates and dialysis accessories. This is foreseen to bolster the segment’s growth.
- By end-user, hospitals are anticipated to capture maximum market share, amounting for almost two-fifth. Rising cases of chronic kidney infections are pushing people to seek treatment, thus augmenting growth. The segment is projected to expand 1.3x throughout the forecast period.
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- North America shall remain the kingpin in the global fluid management market, attributed to rising prevalence of lifestyle diseases, launch of next-generation infusion devices and a burgeoning demand for smart pumps. The infusion therapy segment shall account for more than half of the North American fluid management market.
- However, Asia-Pacific shows promising growth prospects. Prevalence of typhoid, malaria and cholera which requires continuous fluid administration, as well as rising cases of ESRD are projected to leverage the Asia-Pacific market. The region is anticipated to expand 1.5x, at a CAGR of 7.0% throughout the forecast period.
- Fluid management is poised to find increased application during the COVID-19 pandemic. Provision of hemodynamic support and reduction in the incidence of pulmonary edema are two important applications of fluid management amongst COVID-19 patients.
- Important market players are extensively engaged in providing top-of-the-line solutions to medical practitioners for coping with the pandemic. To this end, Baxter Healthcare is concentrating on ensuring a steady supply of its products. The company proactively manages inventory levels, stock levels in warehouses and transportation options.
- Baxter is also providing financial support to multiple groups addressing patient needs. It does so through its Baxter International Foundation. Dialysis supplies are also being augmented in order to cater to renal disorder patients.
- Stryker Corporation, another market player, has released its Emergency Relief Bed, a limited-release medical bed to support critical needs during the pandemic. The bed features a 30-degree head of bed angle to accommodate patients in respiratory distress. It also features low height and an attached IV pole.
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Infusion Products to Act as Key Growth Levers for Market Players
The global fluid management market comprises of a number of key companies. Prominent manufacturers with established market presence in global fluid management market are Baxter, C.R. Bard, Inc., BD, Smith & Nephew, B. Braun Holding GmbH & Co. KG, Fresenius SE & Co. KGaA, Cardinal Health Inc., Stryker, Boston Scientific Corporation and Karl Storz GmbH.
The companies are concentrating on developing next-generation infusion systems. With respect to this, Baxter Healthcare is a pioneer in the global fluid management market.
Baxter Healthcare manufactures the Spectrum IQ Infusion System. This is an intelligently designed device to simplify EMR integration. It includes facilities like on-screen barcode technology with scan prompts, auto-programming workflows and feature sets to help drive consistent compliance and intuitive workflows to confirm IV infusion tasks.
Likewise, Braun Holding GmbH & Co. manufactures EXCEL IV Containers and Partial Additive Bags (PAB). The EXCEL IV containers are biologically inert and are suitable for storing important medications. These are devoid of PVC, which otherwise would react with the medicine to release di (2-ethylhexyl) phthalate (DEHP) present in the PVC coating.
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