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The Global Non-PVC IV Bags Market to Advance at CAGR of 7.32% by 2028

12-06-2022 05:26 AM CET | Health & Medicine

Press release from: Triton Market Research

Non-PVC IV Bags Market

Non-PVC IV Bags Market

Triton Market Research presents the Global Non-PVC IV Bags Market segmented by Material (Polypropylene, Copolyester ether, Ethylene-vinyl acetate, Other Materials), Type (Liquid Mixture, Frozen Mixture), Product (Multi-Chamber, Single Chamber), and Geography (Middle East and Africa, Asia-Pacific, Europe, Latin America, North America). The report further discusses the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter's Five Forces Model, Market Attractiveness Matrix, Vendor Scorecard, Key Strategic Developments, Drivers, Challenges, Opportunities, Company Profile, Research Methodology, Global Market Size, Forecasts & Analysis (2022-2028).
According to Triton's research report, the global market for non-PVC IV bags market is expected to witness growth at a CAGR of 7.32% over the forecasted period.

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Non-PVC IV containers are lighter and less breakable compared to glass. The rising demand for preventive measures against errors and increasing demand for innovative IV products are driving the demand for non-PVC IV bags.
In recent years, the instances wherein PVC IV bags have proven to be hazardous have increased.

Moreover, the disposal of PVC products through the incineration process leads to toxic HCL, contributing to acid rains. This has encouraged companies like Baxter to manufacture IV bags produced from non-PVC materials. Hence, the adoption of PVC-free IV bags will ensure health safety, ultimately contributing to the growth of the non-PVC IV bags market. However, stringent guidelines imposed by regulatory bodies and the high cost of non-PVC IV bags hamper the overall development of the studied market.

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The Asia-Pacific is expected to attain the fastest growth rate in the non-PVC IV bags market globally. The rise in patient awareness, increasing healthcare expenditure, and the surging need for technologically advanced healthcare services are driving the market's growth in the region.

Additionally, the technological solutions offering cost-saving benefits are gaining traction across China, India, Japan, South Korea, and others. Hence, these factors increase the demand for PVC-free IV bags, which ultimately widens the scope and development of the non-PVC IV bags market.

The major firms in the non-PVC IV bags market are Angiplast Pvt Ltd, Medipharmaplan, Renolit, Shanghai Xin Gen Eco Technologies, Pfizer Inc, Kraton Corporation, Huaren Pharmaceutical, Polycine GmbH, B Braun Melsungen AG, ICU Medical, Baxter International Inc, Fresenius Kabi, Sealed Air, Otsuka, and JW Life Science.

The high brand recognition of existing players challenges the growth of new players in the market. However, the ability to manufacture high-quality PVC-free IV bags at a cheap cost in emerging countries has lowered the entry barriers. This indicates the threat of new entrants to be moderate to low over the forecasted period. Furthermore, the surging demand for nontoxic PVC-free IV bags is intensifying the competition among prominent players. Moreover, the band on PVC IV bags in various nations has compelled companies to shift manufacturing to non-PVC IV bags. Hence, these factors infer the competition level to be high over the upcoming years.

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