The global IV bag market is anticipated to reach a value of US$1.89 billion in 2022 and grow at a CAGR of 10.9% during the following ten years. The increasing necessity for preventative measures to address issues like erroneous dose delivery and the rising demand for cutting-edge IV containers are two major factors driving the demand for IV bags forward. Analysts predict that the IV bag industry will be valued US$5.31 billion by 2032.
The majority of the time, IV bag manufacturing facilities are situated close to important markets, such Europe and North America. To remain near their customers or to comply with regional laws, the majority of the medical business still produces in these areas.
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Some businesses that moved their manufacturing to developing nations have found that the benefits of lower labour costs and access to quickly growing IV bag markets have been countered by quality issues and logistical issues, or have gradually diminished over time. But, a number of industry titans are rethinking their plans in light of recent events.
Global IV Bag Market: Market Drivers
IV bag costs around US$ 1, while alternative products such as infusion pumps costs around US$ 2300. Easy availability and affordability of IV bags have made it a widely preferred parenteral packaging solution. Significant number of countries across the globe have limited capacity in terms of procuring infusion pumps for intravenous therapy, due to which the demand for IV bags is strengthening globally.
The need for blood storage is another important factor driving the demand for IV bags market, as blood stored in the IV bags can be important for saving the life of a patient during critical time. The extensive use of IV bags for delivering the medications to a patient directly to the veins is another factor influencing the demand for the IV bags market.
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Global IV Bag Market: Key Players
Some key players of IV bag market are Mountainside Medical Equipment, Kraton Performance Polymers Inc., Renolit, Angiplast Pvt. Ltd, Medline Industries, Inc., Baxter, Sippex IV bag, Wipak Group Management, B. Braun Medical Inc., ICU Medical, Inc., Guangdong lejin medicine Co.,Ltd, Fresenius Kabi Group.
Global IV Bag Market: Market Segmentation
IV bag market can be segmented by the type of material used and by the end use and by capacity.
Based on the type of material used, IV bag market can be segmented into:
- PVC
- Ethylene vinyl acetate
- Polypropylene
- Copolyester ether
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Based on the type of end use, IV bag market can be segmented into:
- To correct electrolyte imbalances
- To deliver medications
- Blood transfusions
- Blood Storage
Based on the size, IV bag market can be segmented into:
- 0 – 250 ml
- 250 – 500 ml
- 500 – 1000 ml
Regionally global IV bag market is segmented into
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia-Pacific excluding Japan (APEJ)
- Middle East & Africa (MEA)
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