According to Precision Business Insights (PBI), the latest report, fluid therapy market is expected to be valued at USD 9,559 million in 2022, which is expected to grow at a CAGR of 6.8% from 2022-2028. The primary factors that drive the market are technological developments in fluid therapy, a growing number of patients with end-stage renal disease, a rise in the number of minor invasive surgeries, funds from public and private sectors for surgical procedures, and increasing investments in laparoscopy and endoscopy facilities.
Urology and Nephrology Segment to Dominate the Fluid Therapy Market:
Based on application, urology and nephrology hold the highest market share as the number of dialysis is increasing rapidly across the world. Dialysis can cover two-fifth of the global fluid therapy market. Due to an unhealthy lifestyle and lack of exercise, chronic diseases such as cancer, blood pressure, and diabetes have increased rapidly which largely affects the kidneys and so the demand for this segment is also increasing. Moreover, long-term medications can also damage the kidneys which can further accelerate the market growth.
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Asia Pacific Fluid Therapy Market
Asia Pacific region is expected to grow significantly in the global fluid therapy market over the forecast period. The Asia Pacific region is expanding as a result of an increase in research and development activities in academic institutes and laboratories, technological advancements, and rising collaborations between various investors. Apart from this, the growing prevalence of chronic diseases due to unhealthy diets has also accelerated the market growth. North America leads the global market due to entrenched research infrastructure, increasing funding from public and private sectors, and rising collaborations among global key players have contributed to increasing the sales of fluid therapy in this region. Apart from this, the major factor that drives the market in this region is the high prevalence of chronic diseases such as cancer and the increasing geriatric population. According to NIH, 1,806,509 people were diagnosed with cancer in the United States and 606,520 cases of death were reported.
Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players
The global Fluid Therapy market further tell that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisition, merger, and strategic alliances to improve their market position and strengthen the market revenue share.
- In January 2022, a subsidiary of Smith Group was acquired by ICU Medical to combine ambulatory infusion syringes, devices, and other products of Smith Group with the existing infusion therapy system of ICU Medical.
- In August 2022, a new AAV platform will be launched by Millipore Sigma which is a new IV fluid manufacturing facility in central Florida
The fluid therapy market is segmented based on fluid type, application, fluid administration, end user, and region
Based on the fluid type:
- Blood Products
Based on the application:
- Urology and Nephrology
- Gynecology / Obstetrics
Based on the fluid administration:
Based on the end users:
- Dialysis Centers
- Ambulatory Surgical Centers
Based on the region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Key players’ fluid therapy market reports are Fresenius Kabi AG, Otsuka Pharmaceutical Co., Ltd., Pfizer, Inc., B. Braun Melsungen AG, Baxter, Vifor Pharma Management Ltd., Amanta Healthcare, JW Life Science, Grifols, S.A, and ICU Medical Inc.
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