Global Fluid Management Market Poised to Expand Moderately, Notes Fact.MR
The rise in incidences of End Stage Renal Disease (ESRD) has pushed up demand for dialysis products, thus augmenting the global fluid management market.
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)
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.
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• 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.
• 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.
• 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.
• 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.
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