Fluid Therapy Market - Forecast (2020 - 2025)
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Fluid therapy is involves infusing crystalloid solutions into patients who are hypovolemic, or in cases of dehydration to replace ongoing fluid losses and meet the fluid requirements of patients who cannot take fluids orally. The Fluid Therapy market has been segmented on the basis of therapy type, routes of fluid administration, types of fluids, by application, and by geographic regions.
Different types of fluids such as colloidal solutions, crystalloid solutions, and blood products are used during fluid therapy. Administration of these fluids is done by using different routes such as oral, subcutaneous, intravenous, intraosseous, and so on. The fluid therapy market generated revenue of $7,297m in 2017 and is estimated to exceed $10,559m by 2023, growing at an estimated CAGR of 6.4%.
The global Fluid Therapy market has been witnessing a brisk growth in the recent years owing to increased incidences of chronic diseases related to nephrology, gastrointestinal tract, heart failures, cancer and diabetes. Fluid therapy is used to treat disorders such as sepsis, colic, hypovolemia and shock. Innovative products and services can help physicians and doctors protect both humans and animals from such diseases. The human segment accounted for 78% of the total market share in 2017.
Colloids and crystalloids are the types of fluids uses in fluid therapy to maintain or restore the vascular volume and tissue perfusion in humans and animals. In humans, at times, blood and blood products are also intravenously administered to restore circulation to vital organs following loss of intravascular volume due to bleeding, plasma loss, and so on. North America dominated the Fluid Therapy Market with 33% of the overall market revenue in 2017. The Asia-Pacific region forecast to be the fastest growing market for fluid therapy. The region's market is estimated to grow at a CAGR of 7.4% during the forecast period 2018-2023.
Increased awareness among people about fitness and health issues and their urge to take preventive steps to avoid chronic diseases are the major factors driving the market for fluid therapy. The rise in demand for maintenance therapy using colloids and crystalloids is also boosting the market for fluid therapy. Due to rapid urbanization, and sedentary lifestyle of people, there has been an exponential rise in chronic diseases such as cancer, diabetes, CVDs, arthritis, COPD, and diabetes. Thus, the demand for intravenous fluid therapy is increasing rapidly.
Plastic contaminants have been found in blood products stored for long periods in bags. Frequent use of such solvable plastics in high doses can harm patients and research laboratory animals. Plastic bags can leach toxic chemicals into patients' veins. So, this is a major constraint for the fluid therapy market.
Strigent regulations regarding the approvals of medical devices use in fluid therapy and high costs associated with the treatment are hindering the growth of fluid therapy market
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the fluid therapy market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of fluid therapy and fluids, and their specific applications.
The Fluid Therapy market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
Some of the key players mentioned in this market research report include: Baxter International, Inc. (the U.S.), B. Braun Melsungen AG (Germany) Fresenius Kabi AG (Germany), Dechra Veterinary Products, LLC (the U.S.), D.J. Laboratories Pvt. Ltd (India), Animalcare Ltd. (the U.K.), and ICU Medical (the U.S.).
Patient's fast recovery owing to fluid therapy is providing opportunities to the market players to manufacture innovative products, which drives the market growth.
The global market for fluid therapy is well established and its growth can be accredited to the growing health awareness and an increase in chronic diseases in the past few years.
North America dominated the fluid therapy market with a share of 33% of the total market value in 2017. The market in North America was valued at $2,386 m in 2017 and is estimated to reach $3,516m by 2023.
Innovative fluid therapy products are more helpful to nurses in case of treatment, thus providing manufacturers an opportunity to attract end users and enhance their market share
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