Additionally, the creator used Corona Renderer to render the particles.
3D Artist Philip Moreton, a.k.a. moretonvisuals, has recently shared a look at an incredible water droplets simulation created for one of the artist's earlier projects. According to a short breakdown published by the author, the simulation was set up in 3ds Max using tyFlow, a neat plug-in that acts as a replacement for the 3ds Max's Particle Flow system and allows its users to create all kinds of visual effects, and rendered with Corona Renderer. The creator commented that the project still needs some tweaking in the behavior of the droplets, planning to further refine the simulation in the near future.
And here's the project these awesome droplets were set up for: