IV Bags Market
IV Bags Market (Material Type – Polypropylene, Polyvinyl Chloride, Polyethylene, Copolyester Ether, and EVA; Capacity – 0-250 ml, 250-500ml, 500-1000 ml, and Above 1000 ml; Chamber Type – Single Chamber and Multi Chamber; Application – Parenteral Nutrition and Intravenous Therapies) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2032
Press Release :
The global market for IV bags has graduated as a key segment within the field of parental packaging and is defined by the supply of plastic materials required in intravenous therapy with key applications in hospital care.
Drop in electrolyte levels is not common among patients suffering from fever and diarrhea. This also causes moderate to severe cases of dehydration, which is more common in children. IV bags are often recommended to administer intravenous therapy for the treatment of such patients.
IV bags have also shown effectiveness in precisely delivery medication directly to veins via blood transfusion. The soaring usability of IV bags in the healthcare sector is indicative of a promising future ahead for the market. On these lines, Transparency Market Research (TMR) has predicted the market for IV bags to surge at a CAGR of 5.8% between 2020 and 2032.
The easy availability and affordable pricing of IV bags has transformed them into a widely used and preferred solution for parenteral packaging. The cost of an IV bag is around US$ 1, which is significantly aiding the surging sales witnessed in the market.
Several countries around the world exhibit only limited capacity for producing infusion pumps required for intravenous therapy. This factor is chiefly responsible for creating scope for expansion of the market. The need for efficient methods of blood storage has made IV bags indispensable for the medical and hospital sector.
In the coming years, the market will witness extensive use of IV bags, especially caused due to the rising penetration of healthcare facilities in remote areas. Considering the intrinsic attributes of IV bags in storing, transporting, sterilizing, and handling requirements, the future will bring greater opportunities for growth of the market.
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Rising Incidence of Chronic Ailments Creating Growth Opportunities
One of the key factors enabling growth in the market remains the need for effectively administering parenteral drugs to patients who find it difficult to take medicines orally. For these patients, drugs need to be administered intravenously. Parenteral drugs are often prescribed for the treatment of chronic intestinal diseases, renal failure, diabetes, hepatic failure, and cancer.
TMR therefore sees the rising incidence of chronic ailments as one of the chief drivers of the market. According to the World Health Organization (WHO), the prevalence of non-communicable diseases will ascent by 57% between 2015 and 2020. Against this backdrop, experts are predicting soaring demand for IV bags in the coming years.
According to the WHO, chronic ailments such as type-2 diabetes mellitus and chronic obstructive pulmonary disorder (COPD) are primary focus of pharmaceutical companies, since they have been looking for ways of curbing the incidence, which has been spreading rapidly.
Adoption of Parenteral Nutrition Therapy Shaping Growth
According to the WHO, nearly 11% of diseases affecting people around the world results from the lack of healthy sustenance. Parenteral nutrition (PN) has been designed to help such patients receive sufficient dietary help they require. The rising incidence of diseases such as gastro-intestinal disorders, malignancy, ischemic gut malady, Crohn’s disease, and diabetic intricacies is spurring interest in parenteral nutrition.
PN means intravenous administration of nutrients, which may incorporate protein, starch, mineral, electrolyte, fat, vitamins, and other components required by a patient, who due to a certain health complication is unable to ingest food in substantial quantity.
Administering intravenous nutrition in the prescribed way can help battle various health complexities and is a crucial part of a patient’s recuperation. As the incidence of chronic ailments is likely to rise in the near future due to nourishment scarcity and changing ecological situation, the demand for parenteral sustenance is likely to remain constant.
Sustainability Emerges as Key Strategic Move
Some of the leading manufacturers of IV bags have been shifting their focus towards sustainability to curb hazardous impact on the environment. Lately, concerns pertaining to disposability and recyclability of IV bags have been surging, which have compelled some of the leading producers to rethink their production strategies.
To reduce carbon footprint, international organizations such as the Food & Drug Administration, have issued notices recommending the use of non-PVC and non-DEHP IV bags. Following such regulations Baxter International has introduced its Aviva line, which specifically offers PVC/DEHP-free IV bags.
Non-PVC and non-DEHP materials also help in improving moisture barrier properties and thermal stability, which are considered highly crucial for IV medication. Citing some of the impressive improvements in functionalities, leading companies are willingly transitioning to more sustainable methods of production. This also is expected to help them in creating brand value among customers.
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COVID-19 Impact on IV Bags Market
While other markets are struggling to cope up amid disruptions caused by the COVID-19 outbreak, conditions have been favoring IV bags sales. However, challenges caused due to limited raw material availability and worker’s isolation have led to slow down of manufacturing activities.
While sales via physical stores may have suffered, contrary to this, the market has been gaining from surging ecommerce sales. Thanks to the rising digital engagement as consumers aim at limiting contact, businesses too are adopting practices that complement with social distancing rules.
Additionally, after the spread of the virus, consumers have become more cautious about hygiene. Manufacturers are therefore focusing on using packaging materials that will offer protection against contaminants during transit. These factors are expected to favor growth of the market for IV bags.
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IV Bags Market: Competitive Landscape
According to TMR, the IV bags market has a fragmented vendor landscape. The presence of numerous local players, besides established companies, has rendered the market highly competitive. Some of the leading companies operating in the market are
- B. Braun Melsungen AG
- Baxter International Inc.
- Pfizer Inc, Wipak Group
- Technoflex S.A
- Fresenius SE & Co KGaA
- Sippex, Polycine GmbH
- Kraton Corporation
- The Metrix Company
- Medicopack A/S
- Macopharma SA
- Haemotronic S.p.A.
- Renolit Solmed
- Otsuka Pharmaceutical India Private Limited
- Alfa Laboratories
- Qosina Corporation
- ICU Medical, Inc.
- JW Life Science and Angiplast Pvt. Ltd.
IV Bags Market – Scope of the Report
Transparency Market Research (TMR) started a new study on the global IV bags market, providing forecast for the period of 2020-2032. In the study, growth opportunity for the IV bags market is witnessed. The report provides valuable insights, which enable readers to make winning business decisions for future growth of their businesses. The report highlights significant factors that are constantly determining the growth of the IV bags market, untapped opportunities for manufacturers, trends and developments, and other insights across various key segments. Macroeconomic factors that are directly or indirectly affecting market growth are also incorporated in the report.
Key Questions Answered in TMR’s IV Bags Market Report
- What will be the impact of COVID 2019 on IV bags market?
- Which end users will be the most lucrative for IV bags?
- What will be market size for IV bags by the end of 2028?
- Which is the most preferred capacity for IV bags in the global market?
- Which region will remain most lucrative for market growth?
- Which are the top five countries of IV bags market?
- Which material holds maximum market share in the global IV bags market?
- Who are major key players in the IV bags market?
Key indicators associated with the IV bags market have been calculated thoroughly in the report. The study enumerates vital market dynamics such as key drivers, challenges, and trends, along with opportunities in the global IV bags market. A comprehensive study on the value chain, which includes component suppliers, manufacturers, distributors, and end users have been incorporated in the global market report. Other key aspects laid down in the market include pricing strategy of leading market players and comparative analysis of IV bags. Furthermore, forecast factors and forecast scenarios of the IV bags market have been covered in the report to understand future prospects of the market.
A comprehensive evaluation and forecast on the IV bags market are provided on the basis of capacity, material, end users and region.
Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments have been provided in the report. The IV bags market has been analyzed at both regional and country levels.
The report delivers an exhaustive assessment on the structure of the IV bags market, in tandem with the dashboard view of all leading company profiles in the report. Every company’s share analysis on market players have also been presented in the report, apart from the footprint matrix of profiled market players. The report depicts the presence of IV bags manufacturers by leveraging an intensity map. It also highlights key end users for IV bags.
The report includes company overview of key players. Some of the key companies profiled in the IV bags market report include B. Braun Melsungen AG, Baxter International Inc., Pfizer Inc, Wipak Group, Technoflex S.A, Fresenius SE & Co KGaA, Sippex, Polycine GmbH, Kraton Corporation, The Metrix Company, Medicopack A/S, Macopharma SA, Haemotronic S.p.A., Renolit Solmed, Otsuka Pharmaceutical India Private Limited, Alfa Laboratories, Qosina Corporation, ICU Medical, Inc., JW Life Science and Angiplast Pvt. Ltd.
A realistic methodology, along with a holistic approach makes the base for sharp insights, which are provided in the IV bags market for the study evaluation period. The TMR report comprises of detailed information on growth prospects, along with riveting insights into the forecast assessment of the market.
Extensive primary and secondary researches have been employed to garner keen insights into the forecast study of the IV bags market. The report has undergone a cross-validation by in-house professionals to make the IV bags market report one-of-its-kind, with the highest c
IV Bags Market – Segmentation
The global IV bags market has been divided on the basis of material type, capacity, chamber type, application and region. Each of these segments are analyzed to provide readers with holistic view of the market.