The fluid management systems and accessories market is projected to reach USD 16.1 billion by 2025 from USD 8.5 billion in 2020, at a CAGR of 13.6% during the forecast period. Factors such as the increasing number of minimally invasive surgeries, technological advancements in fluid management systems, and an increase in government funds and grants worldwide for endosurgical procedures are driving the fluid management systems and accessories market. The untapped potential in emerging markets and the rising use of single-use disposable devices and accessories are also expected to offer growth opportunities for players operating in the fluid management systems and accessories market. However, the high cost of endosurgical procedures and the lack of consumer awareness regarding diseases such as end-stage kidney disease is expected to restrain market growth to a certain extent.
The fluid management systems and accessories market is consolidated at the top with a large number of leading market players based in developed countries. The prominent players operating in this market include Fresenius Medical Care AG & Co. KGaA (Germany), Baxter International Inc. (US), Cardinal Health, Inc. (US), B. Braun Melsungen AG (Germany), Stryker Corporation (US), Olympus Corporation (Japan), Medline Industries, Inc. (US), KARL STORZ GmbH & Co. KG (Germany), Ecolab Inc. (US), Smiths Medical (UK), Zimmer Biomet Holdings Inc. (US), Medtronic plc (Ireland), FUJIFILM Holdings Corporation (Japan), CONMED Corporation (US), Hologic, Inc. (US), Arthrex, Inc. (US), Thermedx, LLC. (US), COMEG Medical Technologies (Germany), and EndoMed Systems GmbH (Germany). However, in the last few years, a number of smaller players have emerged from niche markets, and are competing with global players based on price and technological innovation. Due to the intense competition in the market, major market players are increasingly focusing on expanding their geographic presence into the high-growth emerging markets and strengthening their technological competitiveness in the market by acquiring smaller players with the desired technological capabilities or geographic presence.
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Fresenius Medical Care AG & Co. KGaA (Germany) is one of the leading players in the fluid management systems and accessories market. The company is a global leader in dialysis products and has maintained its leading position in the market through a strong distribution network across North America, EMEA, the Asia Pacific, and Latin America. The company offers an exhaustive product portfolio in the hemodialysis as well as the peritoneal dialysis market, including dialyzers, bloodlines, hemofilters, tubing sets, and catheters. Fresenius focuses on strategic acquisitions to maintain its market position and increase its customer base. For instance, in February 2019, the company acquired NxStage Medical, Inc. (a US-based home dialysis leader) to expand its presence in the dialysis market, as well as the fluid management systems and accessories market.
Baxter International Inc. (US) was the second-largest player in the fluid management systems and accessories market in 2019. The company has a wide geographical presence that spans North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. It has strong manufacturing capabilities, a strong sales force, and extensive customer support capabilities. The company recorded higher sales growth in China and Australia for renal care products. In order to sustain its leading position in the market, the company pursues organic as well as inorganic growth strategies. In May 2017, Baxter International introduced the AK 98 HD system. Similarly, in June 2019, the company introduced the Sharesource 2.0 Telehealth Platform.
Fluid Management Systems Market by Product (Standalone (Dialyzers, Insufflators, Suction) Integrated Systems, Disposables, Accessories), Application (Urology, Nephrology, Laparoscopy) End User (Hospitals, Dialysis Centers) - Global Forecast to 2025
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