Farmington, May 09, 2023 (GLOBE NEWSWIRE) -- The Global Empty IV Bag Market size was valued at USD 4.25 billion in 2022 and is projected to reach USD 8.59 billion by 2030, growing at a CAGR of 9.20% from 2023 to 2030.. Increasing adoption of electronic health records (EHR) and growing demand for precision medicine are the primary drivers of this growth. In addition, growing awareness of the advantages of using empty IV bags for drug delivery is anticipated to drive market expansion.
Due to the environmental tolerance of non-PVC IV bags, increased government activities, the rising prevalence of malnutrition, and the rising incidence of cancer worldwide. According to the World Health Organization, diarrhoeal disease is the second leading cause of death in infants under five. Over 1.7 billion cases of pediatric gastroenteritis are reported annually worldwide. In contrast, the possibility of chemical leakage from plastic IV packs is a significant market constraint.
Request Sample Copy of Report “The Global Empty IV Bag Market Size, Share & Trends Estimation Report By Type Outlook (PVC Empty IV Bags, Non-PVC Empty IV Bags), By Application Outlook (Hospital, Clinic), By Chamber Type Outlook (Single Chamber, Multi-chamber), Region and Forecasts, 2023 - 2030”, published by Contrive Datum Insights.
Segmentation Overview:
Type Outlook
PVC Empty IV Bags
Empty PVC IV bags are used to collect and store blood and other liquids in hospitals. Polyvinyl Chloride, or PVC, is a variety of plastic frequently employed in the production of medical equipment and supplies. These purses are secure, durable, flexible, and lightweight.
Non-PVC Empty IV Bags
IV bags made of materials other than PVC are used to transport and contain fluids such as saline and other liquids. Among other materials, they are composed of polypropylene, polyethylene, and HDPE. The selection of material is heavily influenced by how well the backpacks must function.
Application Outlook
Hospital
In 2019, the hospital segment was the most lucrative market segment. This is due to the increasing prevalence of infectious diseases such as COVID-19 around the globe.
Clinic
Clinics are expected to grow quicker than hospitals because more people are becoming educated about preventive care and because diagnostic testing services are in greater demand. The other application segment is projected to develop at the fastest rate in the global IV bag market.
Chamber Type Outlook
Single Chamber
Single Chamber IV Bags generated the most revenue, grew at a CAGR of 9.2% between 2022 and 2030, and are now projected to grow at a CAGR of 9.2% during the forecast period. Due to their widespread use in IV infusions and other applications, the single-chambered segment is expected to lead the global non-PVC IV bag market. A single-chambered component is simple to manipulate, relocate, and dispose of.
Multi-chamber
Technoflex created multi-chamber bags from a polypropylene film that effectively blocks air. This property protects amino acids from oxidation, the primary cause of their decomposition.
Regional Analysis:
During the forecast period, it is anticipated that the Asia-Pacific market for empty IV bags will expand the quickest. This is due to the fact that healthcare expenditure is increasing, patients are becoming more health conscious, and there is a greater demand for technologically advanced and cost-effective healthcare solutions. Additionally, people will need more specialized medical packs because the population is rapidly aging, there are more people with chronic diseases, and the cost of healthcare is rising. According to the 2014 Southeast Asia Regional Plan of Action and Goals (WHO) Burden of Noncommunicable Diseases (NCDs), noncommunicable diseases are responsible for approximately 7.9 million fatalities in the region. According to locals, cardiovascular disease, diabetes, and cancer are also prevalent.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 9.2% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 8.59 Billion |
| By Type |
|
| By Application |
|
| By Chamber Type |
|
| By Companies |
|
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Drivers: Increased instances of malignancy are the cause.
The increasing prevalence of malignancy is a significant factor in this. Cancer increases the likelihood that a patient will require parenteral nutrition. This is due to the fact that cancer can exacerbate gastric ulcers, gastrointestinal difficulties, and physical blockages. In addition, cancer treatment weakens and destroys the body by depriving it of minerals.
Increase in PVC IV bag ban
In recent years, there has been a significant increase in demand for environmentally friendly IV packs. This is because most nations have banned the use of PVC IV containers due to their negative environmental impact. These IV packs are most prevalent in hospitals that perform gallbladder surgery, treat kidney stones, and treat intestinal infections.
Policy regarding refunds
CMS and other government agencies have numerous rules regarding the payment of IV bag treatments. There are also provisions in place in some nations to pay for IV bag treatments.
Restraints/Challenges: The market for empty IV bags is hindered by the high costs of research and development in product production and the lack of infrastructure facilities. Plastic IV bags, one of the most fundamental and essential instruments in modern medicine, are being attacked in a manner that could be hazardous to health.
Opportunities: Favorable return regulations in a number of nations are likely to contribute to economic expansion. CMS pays for many procedures and treatments in the United States that require an IV bag. In a similar manner, it is anticipated that IV bag sales will increase as government agencies in various nations cover portions of the treatment procedure.
Key Segments Covered:
Top Market Players:
- Sippex IV Bag (U.S)
- Technoflex (Japan)
- Wipak Group (Germany)
- Baxter (U.S)
- B. Braun (Germany)
- ICU Medical, Inc. (U.S)
- POLYCINE GmbH (Germany)
- RENOLIT SE (Germany)
- Pfizer Inc. (U.S)
- West Pharmaceutical Services Inc. (U.S)
- Jinan Youlyy Industrial Co., Ltd. (China)
- Jiangsu Eyoung Medical Devices Co. Ltd. (China) and others
By Type
- PVC Empty IV Bags
- Non-PVC Empty IV Bags
By Application
- Hospital
- Clinic
By Chamber Type
- Single Chamber
- Multi-chamber
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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