Empty IV Bags Market Growth Opportunities, Emerging Trends by 2028 | B.Braun Melsungen AG
To enhance the environmental-friendliness, governments are banning the application of phthalate IV bags as much as possible. However, the bans are aimed to reduce the impact of the phthalate IV bags and cautiously take the well-being of the patients under consideration. These bans, for instance, the one posed by Denmark Health Commission on application of (2-ethylhexyl) phthalate (DEHP), Dibutyl Phthalate (DBP), have stimulated IV bags manufacturers to produce eco-friendly bags. As a result, the demand for non-PVC IV bags has risen atan accelerated pace. This surging demand for bio-degradable IV bags is the major reason for growth of the global empty IV bags market.
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A report from TMR Research encapsulates similar factors that are responsible for growth of global empty IV bags market in the forecast period of 2018 to 2028. The report offers an in-depth analysis of the market covering essential facets such as notable developments, key players, and challenges in the market.
Global Empty IV Bags Market: Notable Developments and Competitive Landscape
Being highly competitive, the global Empty IV bags market is dominated by few prominent players. This results in moderately consolidated landscape and is luring new players. However, getting established themselves in market is not as simple as it appears for the new comers.Companies like B.Braun Melsungen AG, Baxter international Inc., Hospira Inc., West Pharmaceutical Services Inc., have significant dominance over the market based on their technical expertise and wide range of resourceswhich makes it is tough for the new players to compete with them.
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The sustainability of the new players is expected to be backed by strategies such as partnerships and collaborations. With the help of these strategies, the new comers can acquire necessary resources better production and greater sales. Moreover, with the help of these strategies the players can also leverage the technology of partnered organization which can further boost their position in global empty IV bags market.
On the other hand, veterans of the market are strengthening their position by acquiring small and medium scale businesses. This strategy allow the players to expand their production capacity, technological expertise, and product portfolio in multiple domain of the market. This further allows the players to boost their profit quotient and achieve a noteworthy position in the market.
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In 2019, Scripps Health Announced to acquire ICU Medical, Inc. The acquisition allowed the company to take-over the IV consumables and solutions of ICU Medical which allowed the company to expand its portfolio of IV bags and other associated solutions. As a result of this acquisition, the Scripps health is expected to account for a staggering 36% share of global empty IV bags market in the forecast period of 2018 to 2028.
Global Empty IV Bags Market: Key Drivers
Ban of PVC IV Bags Boosts Growth
Since majority of countries have banned the use of the PVC IV bags to reduce their adverse effect on environment, the demand for eco-friendly IV bags has raised significantly in past few years. The demand for these IV bags are majorly from the specialty hospitals which deals with surgery of gall bladder, kidney stones, and intestine infections. This hiked demand for eco-friendly IV bags has surged the growth of global empty IV bags market in the forecast of 2018 to 2028.
Favorable Reimbursement Policies
Government agencies like Centers for Medicare & Medicaid Services (CMS) offer flexible reimbursement policies that covers surgeries involving IV bags in the procedures. Moreover, agencies of other countries have reimbursement plans in their clause for the surgeries that requires IV bags. These policies are fueling the sales of IV bags across the globe which as result is increasing the growth of global empty IV bags market.
Rising Prevalence of Cancer
Cancer treatment deprives human body from nutrition. . Moreover, it also impacts the human body by creating physical obstructions, dysfunction of GI tracks, and ulcers generation. All of these restrict the body to extract nutrition naturally from the food. As a result, they have to be injected externally. Since cancer has grown in prevalence over past few years, the demand for IV bags has also spiked exponentially. This is yet another reason that is expected to boost growth of global empty IV bags market in the forecast period
Global Empty IV Bags Market: Regional Analysis
North America is expected to witness a maximum growth in empty IV bags market during the projected period. The adoption of empty IV bags in region is highs as a result of growing acceptance of innovative technologies, high disease prevalence, improved government investments to enhance the healthcare infrastructure, and flexible reimbursement policies. Moreover, growing geriatric population in the region is another factor that is promoting its dominance in empty IV bags market.
The global empty IV bags market is segmented on the basis of:
PVC Empty IV Bags
Non-PVC Empty IV Bags
Copolyester Ether (COPE)
Ethylene-vinyl acetate (EVA)
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