The global empty IV bags segment is expected to exhibit a steady growth owing to the increasing demand for non-toxic IV bags.
Increasing shift towards eco-friendly IV bags is driving the growth in the empty IV bags market
The global empty IV bags segment is expected to exhibit a steady growth owing to the increasing demand for non-toxic IV bags. As per a study by Fact.MR, the empty IV bags market is estimated to surpass a valuation of more than US$ 2.99 bn through 2031.
The demand for empty IV bags is rising as they are often used to administer treatment required for the maintaining blood pressure and prevention of dehydration. They are also additionally used to deliver nutrients and medicines to patients that cannot be orally administered.
Rising awareness about the harmful environment effects is bolstering the demand for non-PVC IV bags. Some of the nations also have implemented stringent regulations to curb the use of harmful materials, which will bode well for the market.
For instance, Denmark has introduced a national ban on Butyl Benzyl Phthalate (BPP), Dibp Plasticizer (DIBP), Dibutyl Phthalate (DBP), and Di-(2-ethylhexyl) phthalate (DEHP) under its national phthalate strategy.
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The Danish Health and Medicines Authority (DHMA) announced a set of guidelines with regards to usage of phthalates in medical devices. This initiative was aimed to reduce usage of classified phthalates in medical devices.
Similarly, the Federal Institute for Drugs and Medical Devices of Germany recommended hospitals to reduce or elude the use of medical devices containing DEHP for nursing mother, pregnant women, adolescents, children, infants, and babies. This government necessitated recommendation have compelled manufacturers to provide alternative non-toxic and PVC free products.
According to WHO, every year around 8.2 million people die of cancer. Cancer cases are expected to rise by 70% in the next couple of decades. Parenteral nutrition is often referred to patients suffering from chronic ailments such as cancer. This will fuel the demand for IV bags within the healthcare sector.
Rising cases of chronic ailments such as cancer and other conditions will result in increasing use of IV bags to administer treatment and required nutrition. This will in turn have a positive impact on the market.
“Key players are strengthening their position in the market by adopting strategies such as partnerships, product launch, and agreements. Strategic collaborations undertaken primarily focus on sharing expertise to give tailwinds to product launches,” says the Fact.MR analyst.
Key Takeaways
- The empty IV bags market in Europe is majorly driven by increasing use of disposable IV fluid bags in the hospitals and healthcare clinics. The market in this region will significantly rise owing to increasing demand for non-PVC IV bags and their preference over traditional products.
- The U.S. holds the largest share in the market as this country has stringent regulations and guidelines for improved patient safety. The U.S. also registers high prevalence of stomach cancer which has resulted in higher adoption of empty IV bags.
- The demand for ethylene-vinyl acetate and polypropylene will rise as they minimize the threat of therapeutic agents interacting with plasticizers and being converted into harmful agents.
Key Drivers
- Developed countries have developed healthcare infrastructure, supporting novel drug delivery system and technological innovations, which will boost the demand for empty IV bags in global market.
- Numerous government bodies are implementing guidelines to reduce usage of phthalate IV bags therefore, non-PVC IV bags will gain momentum due to their environment friendly qualities.
- Rising number of malnutrition cases across the globe is fuelling the need for administration of vital nutrients via empty IV bags.
- Increasing cases of stomach cancer and disruption of GI tract functioning are boosting the demand for empty IV bags market.
Key Restrains
- COVID-19 pandemic has resulted in disruption of supply chain. The market has witnessed major setbacks due to global lockdown and government regulation to follow social distancing.
Competitive Landscape
The key players operating in the global empty IV bags market are B. Braun Melsungen AG, Sippex IV bag, WiPAK Group, POLYCINE GmbH, ICU Medical, RENOLIT SE, Hospira, West Pharmaceutical Services Inc., Changzhou Holinx Industries Co. Ltd., Technoflex, Jinan Youlyy Industrial Co. Ltd., and Baxter International Inc. Major players are adopting numerous strategies such as investing in research and development activities, mergers and acquisition, and others to stay ahead in the competition.
- B Braun Melsungen AG is among the top players in the market. It retain its market presence by launching and expanding its product portfolio.
- ICU Medical, Inc. in February 2017, acquired Hospira Infusion Systems (HIS) business from Pfizer, Inc. This acquisition helped the company improve its infusion therapy segment.
- In April 2019, Scripps Health and ICU Medical, Inc. signed an agreement to purchase latter’s IV solutions and consumables and its Plum 360 infusion system with ICU Medical MedNet IV medication safety software. This initiative aided in enhancing the company’s market shares.
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More Insights on the Empty IV Bags Market
Fact.MR offers unbiased analysis of the empty IV bags market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (single chamber and multi chamber), material type (ethylene vinyl acetate, polypropylene, copolyester ether, and others), content (frozen mixture and liquid mixture), application area (hospitals, clinics, ambulatory surgical centers, and others), and region (North America, Latin America, Europe, South Asia, East Asia, and The Middle East and Africa).
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Source: Fact.MR