Dublin, April 02, 2024 (GLOBE NEWSWIRE) -- The "Global IV Bags Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.
Market Expansion and Innovation
The global IV bags market has demonstrated a notable trajectory of growth, with projections indicating an ascent from USD 2.13 billion in 2023 to USD 6.68 billion by 2034, at a compound annual growth rate (CAGR) of 10.95% during the forecast period of 2024-2034. The mounting prevalence of chronic diseases, escalating numbers of surgical procedures and accidents, alongside an aging population cohort, have significantly spurred the accessibility and utilization of IV bags within the healthcare sector. An upsurge in healthcare facilities in remote areas is intensifying the need for efficient blood storage methods, while advancements in parenteral nutrition therapies are propelling market diversification.
The Driving Forces
The global IV bags market is experiencing a dynamic shift contingent on the rising incidence of chronic illnesses and burgeoning demand for IV therapy, a critical means to address electrolyte imbalance in several medical conditions. Market competitors are adopting cost-effective, efficient fluid injection methodologies as alternatives to traditional infusion pumps, fueling the IV bags market surge. For example, the launch of B. Braun's Exquisica IV bag in April 2022 marked the introduction of user-friendly and patient-comfort-led bag designs, replete with features aimed at minimizing leakages.
Segmentation Trends
In material type segmentation, polypropylene commanded the largest revenue share in 2023, underpinned by its cost-efficiency and durability, which are conducive to addressing the escalating chronic disease burden. Polyethylene is forecasted to exhibit the fastest growth, owing to innovations that continue to arise from strategic collaborations and partnerships among key market players. In terms of capacity, the 0-250 ml segment dominated market revenue in 2023, responding to the increased requirements from infectious disease management and blood bank centers. The chamber type segmentation revealed that single-chamber IV bags led the market in revenue, attributed to the transition from glass containers to plastic bags - a move propelled by the practicality of plastic in handling and disposal.
End-User and Regional Insights
Hospitals emerged as the leading segment in end-user categorization for the IV bags market in 2023, leveraging their substantial patient inflow and broad spectrum of medical services offered. Hospitals' procurement capabilities enable them to source IV bags in bulk, optimizing cost efficiencies. Conversely, the home healthcare segment is anticipated to grow expeditiously due to the incremental demands for home-based care services amidst a rising chronic disease prevalence. Geographically, North America held the majority revenue share, while the Asia Pacific region is forecasted to chart the fastest growth, propelled by an amalgam of heightened chronic disease incidence, home healthcare demand surge, and the continual influx of product introductions.
In conclusion, the global IV bags market is encountering an era of growth and transformation, replete with advancements and regional developments that point towards a prolific future in the coming decade.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value (USD) in 2023 | $2.13 Billion |
| Forecasted Market Value (USD) by 2034 | $6.68 Billion |
| Compound Annual Growth Rate | 10.9% |
| Regions Covered | Global |
Companies Featured
- B. Braun Medical Inc.
- Technoflex
- ICU Medical Inc.
- Fresenius Kabi
- Polycine GmbH
- Baxter international Inc.
- Haemotronic
- Kraton Corporation
- Sippex IV bags
- MedicoPack
- Otsuka Holdings (Otsuka Pharmaceutical India Private Limited)
For more information about this report visit https://www.researchandmarkets.com/r/gcmks7
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