IV bags are widely used for parenteral care in hospitals, clinics, and ambulatory centers. They facilitate administration of anesthesia and nutrients to patients. Considering the sensitivity and risk, IV bag manufacturers need to maintain a high level of quality in their offerings. The global IV bags market continues to be influenced by a combination of macro- and micro-economic factors. Demand for IV bags varies across regions, with populous countries of China and India among the most lucrative markets.
The increase in geriatric population is a major macro-economic factor driving the growth of the global IV bags market. In the U.S., increasing population of baby boomers is creating demand for healthcare services, boosting IV bags sales as well.
Another key macro factor driving sales of IV bags globally is rising per capita income in emerging economies. Many countries in Asia Pacific and Latin America have witnessed the rise of a robust middle class which is spending big on health and well-being. For many decades, marginalized sections of society have lacked access to healthcare, and the inclusion of this demographic in a country’s healthcare system has led to an increase in demand for healthcare services.
In addition to these macro factors, another key factor promoting the use of IV bags among end-users is its low cost vis-à-vis infusion pumps. Widespread availability, combined with affordability has made IV bags a feasible option for parenteral care in hospitals and clinics. This is especially true of developing countries where procuring expensive infusion pumps is a challenge for governments.
Demand for IV bags is also driven by their use in storing blood. The IV bags are easier to store and transport, making them ideal for the purpose of healthcare.
Although the outlook on the global IV bags market is positive, concerns about risk of infection and complications in veins has led to their limited adoption in various healthcare settings. Further, lack of effective treatment can lead to nutrient imbalance. Alternatives of IV bags, such as plastic and glass bottles are also gaining traction, restraining the growth of the global IV bags market.
Segmentation of Global IV Bags Market
The global IV bags market is segmented on the basis of material, end-use, size, and region.
On the basis of material, the global IV bags market is segmented into ethylene vinyl acetate, PVC, copolyester ether, and polypropylene.
By end-use, the global IV bags market can be segmented into ‘to correct electrolyte imbalance’, ‘to deliver medications’, ‘blood transfusions’, and ‘blood storage’. By size, the market has been segmented into North America, Japan, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), and Asia Pacific excluding Japan (APEJ).
North America remains a leading market for IV bags market owing to the robust healthcare infrastructure in the region. Further, APEJ is an attractive market for manufacturers owing to the myriad opportunities in the region.
Leading players in the global IV bags market are Guangdong lejin medicine Co.,Ltd, Medline Industries, Inc., Renolit, Angiplast Pvt. Ltd, Polymers Inc., Kraton Performance Wipak Group Management, Baxter, Mountainside Medical Equipment, B. Braun Medical Inc., ICU Medical, Inc., Fresenius Kabi Group.
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