Fluid management systems are centralized or point-of-use devices utilized in hospitals, clinics, and other healthcare settings to collect, measure, treat, and dispose of waste fluids produced during medical procedures. They are used to handle fluids including blood, urine, dialysate, amniotic fluid, peritoneal fluid, and saline solution. Fluid management systems help maintain sterility and avoid cross-contamination by efficiently removing, disinfecting, and disposing of all intra-operative waste.
They ensure a safe working environment for patients and medical staff. With the growing prevalence of chronic and lifestyle diseases, healthcare infrastructure is expanding extensively worldwide. This is anticipated to fuel the demand for fluid management systems in the coming years.
The global Fluid Management System Market is estimated to be valued at US$ 12.41 Bn in 2024 and is expected to exhibit a CAGR of 6.6% over the forecast period 2024 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers for the growth of the fluid management system market is the rising demand for effective medical waste disposal. With increasing healthcare activities, medical waste generation is constantly rising. If not handled and disposed of properly, it can potentially spread infection and pollution. Fluid management systems help isolate, collect, and remove all waste substances in a seamless manner, minimizing the risks of contamination. They ensure adherence to stringent biosafety and environmental norms regarding medical waste treatment and recycling. Moreover, automated fluid waste management leads to improved sterility and safety for patients and staff alike. This factor is expected to significantly drive the demand for fluid management systems over the forecast period.
Another driver for this market is the opportunity mentioned in the heading – growing demand for minimally invasive surgeries. With advancement in medical technology, minimally invasive procedures are gaining popularity as they cause less pain, shorter hospital stay, and quicker recovery time for patients. Fluid management plays a critical role in minimally invasive surgeries by efficiently removing fluids from narrow operative cavities using sophisticated fluid traps and collectors. Their adoption is increasing with the rise of MI surgeries being performed globally. This widespread shift towards minimally invasive techniques will further propel the fluid management system market in the coming years.
Segment Analysis
The global fluid management system market is dominated by the dental fluid management system segment, which held around 65% of the total market share in 2022. Dental fluid management systems help suction liquids such as saliva, water, blood and other fluids from the oral cavity during dental procedures. They prevent these liquids from entering the breathing passage of patients or contaminating dental instruments and equipment. This avoids cross-contamination between patients and promotes infection control practices in dental clinics and hospitals. Moreover, with the growing number of dental procedures and awareness about oral hygiene, the demand for dental fluid management systems is increasing rapidly.
PEST Analysis
Political: Governments in many countries are investing heavily in improving healthcare infrastructure and dental services. They are implementing various policies and programs to increase access to affordable and quality dental care. This is positively impacting the growth of the fluid management system market.
Economic: Rising disposable incomes and growing middle class population in emerging economies is increasing the affordability of dental treatments. This is driving the demand for advanced dental equipment including fluid management systems.
Social: With increasing awareness about oral healthcare and hygiene, people are now more inclined towards regular dental checkups and treatments. This is leading to higher volume of dental procedures worldwide and subsequent growth in need for fluid management systems.
Technological: Key players are investing in research and development to introduce innovative new products with advanced features like improved suction capacity, portability, ease of use and durability. Integrated fluid management systems with features like touch screens and digital controls are gaining popularity.
Key Takeaways
Global Fluid Management System Market Demand is expected to witness high growth at a CAGR of 6.6% during the forecast period of 2023 to 2030. The market size is projected to reach US$ 12.41 Bn by 2024 from US$ 9.13 Bn in 2022.
Regional analysis: North America dominated the global market and accounted for around 35% share in 2022. This was due to presence of major market players and advanced healthcare infrastructure. However, Asia Pacific is expected to grow at the fastest pace during the forecast period owing to rising medical tourism, increasing healthcare spending and expanding medical device industry in the region.
Key players: Key players operating in the fluid management system market are Dentsply Sirona, Ivoclar Vivadent, Modern Dental, 3M, Glidewell, Danaher, Zirkonzahn, Amann Girrbach, Coltene, Pritidenta. These companies have strong geographical presence and hold a major portion of the market share through their innovative product offerings and advanced technologies.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it