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Global Fluid Management Systems Market to Reach US$18.5 Billion by the Year 2026

Conventional processes of eliminating all fluid medical wastes from operating rooms are gradually being replaced by cutting edge fluid management systems (FMS) that perpetually collect and subsequently discharge the contents into a sanitary sewer directly. Fluid management systems in healthcare fundamentally include two areas, one being patient fluid management and the other fluid waste management. FMS have been able to replace single-use plastic suction canisters which are disposable as also chemical solidifiers, which by themselves are a high exposure risk, while also significantly reducing the costs of waste disposal. FMS help hospitals save US$ 51,000 annually on an average, while also minimizing risks of exposure to potentially hazardous and infectious materials during the collection, shifting, and final disposal of all fluid medical waste. Even though the cost upfront of these systems is considerably higher when compared with disposable, single-use, plastic suction container costs, the long-term benefits are a positive return-on-investment within a period of 1 and 3 years; lesser exposure to occupational risks during the collection, shifting and disposal processes; more efficient cleaning of operating rooms as also disposal procedures; and lesser amounts of medical plastics that are disposable in medical waste which is regulated.

Compounding the already heavy healthcare burden is the spread and frequent outbreak of Infectious diseases such as immunodeficiency syndrome (HIV/AIDS), Hepatitis A, malaria and tuberculosis, sexually transmitted diseases (STDs), dengue, Zika virus, Swine Flu, viral hemorrhagic fevers, meningitis, seasonal influenza and other pandemic and epidemic diseases. These infectious diseases are also on the rise, especially in developing countries that lack proper sanitation, inadequate civic amenities for the poorer communities, poor public health systems, insufficient epidemic preparedness and response, and lack of planned coordination and programs to handle public health emergencies. Nosocomial infections or hospitals acquired infections are also high in developing countries, given the lack of safety standards implemented or followed for both patient safety and care giver safety. All of these factors result in the preventable spread of infectious diseases that cost the healthcare systems billions of dollars in medical care and related services. Under this scenario, there will be increase in hospital admissions, surgeries and myriad treatment procedures which will demand the use of a wide range of patient fluid management systems and devices. Fluid management devices are poised to inevitably benefit from critical relevance of intravenous fluid regulation to various complications associated with IV therapy and ensure patient safety.

Amid the COVID-19 crisis, the global market for Fluid Management Systems estimated at US$11.1 Billion in the year 2022, is projected to reach a revised size of US$18.5 Billion by 2026, growing at a CAGR of 13.2% over the analysis period. Systems, one of the segments analyzed in the report, is projected to grow at a 12.4% CAGR to reach US$13.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Disposables & Accessories segment is readjusted to a revised 14.8% CAGR for the next 7-year period. This segment currently accounts for a 32.5% share of the global Fluid Management Systems market.

The U.S. Market is Estimated at $3.6 Billion in 2022, While China is Forecast to Reach $2.4 Billion by 2026

The Fluid Management Systems market in the U.S. is estimated at US$3.6 Billion in the year 2022. The country currently accounts for a 32.8% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$2.4 Billion in the year 2026 trailing a CAGR of 18.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.6% and 12.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.5% CAGR while Rest of European market (as defined in the study) will reach US$784.9 Million by the end of the analysis period.