My friend had this, it wasn't found out until the last few weeks of pregnancy so when her girl was born, she looked like a frog, with scrawny little legs and a bottom...she's perfectly fine now
Her second was the same, and this time they discovered it around 37 or so weeks and she was induced. Again, her son is perfectly fine now.
If your worse case scenario is an induction at 38 weeks.....well, that's a great worse case scenario isn't it, considering? Plus, you wouldn't have to go straight onto that drip, you could have a s&s, then gel, then waters broken and finally if they didn't get things going, the drip?
Good luck.