Medical Fluid Bags Market Industry Analysis with Top Players: Amcor, Amsino International Inc., Baxter International Inc., B. Braun Medical, Coloplast, ConvaTec, Terumo Medical Corporation, Eagle Flexible Packaging, Fresenius Kabi, Smiths Medical, Kawasum
The number of surgical procedures is increasing across the globe owing to the growing number of healthcare centers in developed as well as emerging economies and advancements in healthcare facilities. Moreover, favourable reimbursement policies in regions such as North America and Europe will encourage patients to undergo expensive treatments. Growing patient base undergoing surgical procedures for treatment of various diseases will serve to be a high impact rendering factor that will drive the medical fluid bags market growth during the forthcoming years.
Wide use of Poly Vinyl Chloride (PVC) with DEHP plasticizer for manufacturing medical fluid bags is forecasted to hamper the market growth over the forecast period. These materials, on incineration, emit carcinogenic and toxic material that adversely affect humans as well as environment. Moreover, leaching out of DEHP plasticizer during medical procedures such as haemodialysis and administration of IV fluids will restrain industry growth to some extent.
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Drain bags segment of medical fluid bags market dominated the industry in 2017 with a revenue share of USD 867.5 million and will continue to dominate during forecast period owing to its wide applications in various surgical procedures. Rising prevalence of kidney related diseases such as diabetes, hypertension and renal failure among the geriatric population base leading to increasing number of surgical procedures will further accelerate the industry growth over the forecast period.
Breast milk bags segment is projected to grow at fastest rate of around 7.1% CAGR during the forecast period. Breast milk bags are widely used in developed as well as developing economies due to growing number of working women that makes it difficult to feed their babies at regular intervals. Increased usage of pre-sterilized breast milk bags with dependable closure to avoid leakages will stimulate segment growth over the coming years.
Thermoplastic elastomer segment will grow at a robust CAGR of 6.8% over the forecast timeframe owing to its benefits over traditional PVC bags. Thermoplastic elastomers offer greater elongation, tear resistance and light weight than PVC bags. Additionally, capability of recycling renders thermoplastic elastomers, as potential replacement for widely used PVC bags that negatively hamper humans as well as environment thereby accelerating the segment growth of medical fluid bags market.
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Polyolefins are widely used for manufacturing medical fluid bags and accounted for the largest market share with a revenue of USD 925.2 million in 2017. This is attributable to its high thermal stability, low leaching and extracting levels and excellent organoleptic properties. Polyolefins are highly unreactive in nature and eliminate the need of chemical analyzer due to its high stability. Aforementioned factors will drive the segment growth during the forthcoming years.
Blood banks segment accounted for USD 310.2 million in 2017 and is expected to grow during the forecast period. Growing number of blood banks in developed as well as developing countries coupled with various government initiatives for increasing awareness for blood donation is expected to increase the usage of medical fluid bags. Increasing demand for cellular therapies, customized vaccines and blood transfusion will fuel the demand for blood bags over the forecast period. Moreover, need for reliable blood storage during mobile donor sessions, transportation of blood samples to laboratory for testing and processing will further drive the medical fluid bags market growth.
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Homecare settings segment is projected to witness highest growth rate of 6.8% over the forecast period. This is attributable to the increasing ageing population suffering from chronic diseases as well as favourable reimbursement policies that influence patients to undergo expensive treatments. Developments in healthcare facilities and increasing affordability of people owing to rising disposable incomes will boost the segment growth of medical fluid bags market over the coming years.
Medical Fluid Bags Market by Product
o Blood Bags
o Intravenous Bags
o Drain Bags
o Surgical Bags
o Urinary Bags
o Enema Bags
o Biohazard Disposable Bags
o Breast Milk Bags
o Reagent Bags
o Dialysis Bags
Medical Fluid Bags Market by Material
o PVC Compounds
o Thermoplastic Elastomers
o Thermoplastic Polyurethanes
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