IV Bags Market Size Share Growth Opportunities and Forecast 2023-2030

IV Bags Market Poised for 5% CAGR Growth during 2023-2030 Forecast Period

The global IV Bags Market is anticipated to witness substantial growth, projecting a Compound Annual Growth Rate (CAGR) of 5% throughout the forecast period spanning from 2023 to 2030.

IV bags play a pivotal role in delivering various clinical nutritional fluids, including sodium chloride and parenteral nutrition, to address specific diseases such as chronic ailments. Tailored for diverse medical purposes such as medication administration, fluid and electrolyte balance, blood product delivery, and nutrient supplementation, the global IV Bags Market is meticulously analyzed in a recent study by DataM Intelligence. This comprehensive analysis encompasses both quantitative and qualitative data, offering insights into market segmentation, size, growth trends, opportunities, and forecasts until 2030. Major countries covered in the study include the United States, Canada, Brazil, Germany, Italy, Spain, United Kingdom, Russia, European countries, United Arab Emirates, Saudi Arabia, South Africa, Japan, China, India, South Korea, Australia, and others.

The North American region is poised to dominate the global market, with the United States and Canada contributing significantly. The European IV Bags Market is also expected to maintain a global presence throughout the forecast period from 2023 to 2030.

IV Bags Market - Strategic Insights

Metrics:

Market CAGR: 5%

Segments Covered: By Type, By Material, By Size, By Application, By End User, and By Region

Report Insights Covered: Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other Key Insights

Fastest Growing Region: Asia Pacific

Largest Market Share: North America

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Market Dynamics

The growth of the IV bags market is driven by the increasing prevalence of diseases such as cancer and neurological disorders, the rising adoption of IV therapy for disease treatment, the growing geriatric population, and ongoing research and development activities. The escalating adoption of parenteral nutrition therapy is expected to be a significant growth driver. According to the World Health Organization's 2023 data report, non-communicable diseases cause 41 million deaths annually, necessitating emergency parenteral nutrition therapy.

Key market players are strategically launching new products and collaborating with industry peers. For instance, in January 2023, ICU Medical acquired Smiths Medical, enhancing its global reach. Additionally, Fagron Sterile Services expanded its product portfolio with a new platform featuring multiple presentations for Intravenous (IV) Bags in March 2021.

Leaching Chemicals from IV Bags - A Market Growth Challenge

Despite growth prospects, the use of Polyvinyl chloride (PVC) material in IV bags poses challenges. PVC bags, commonly used for IV bags, may not be suitable for all formulations, particularly blood products. The leaching and extraction of di(2-ethylhexyl) phthalate (DEHP) from PVC bags have been reported, potentially hampering market growth.

Segment Analysis

The multi-chamber IV bags segment is anticipated to experience the fastest CAGR during the forecast period (2023-2030). These bags offer enhanced patient safety, reduced handling, and a lower risk of contamination. In April 2023, the Chinese Society for Parenteral and Enteral Nutrition published an article emphasizing the advantages of multi-chamber IV bags for both home and hospital use.

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Geographical Analysis

North America is expected to maintain its dominance in the IV bags market, with a significant market share projected over the forecast period (2023-2030). Factors such as an aging population, advanced healthcare systems, and the presence of key market players contribute to the region's market size. Recent developments, including FDA approval for B. Braun Medical Company's new IV saline solution manufacturing facility in Florida, further support the market growth.

In conclusion, the IV bags market presents a moderately competitive landscape, featuring both local and global players. Key contributors to market growth include Baxter, B. Braun Melsungen AG, Pfizer, Inc., Fresenius Kabi AG, JW Life Science, RENOLIT, PolyCine GmbH, Sealed Air, ANGIPLAST PVT. LTD, Shanghai Solve Care Co Ltd., Kraton Corporation, and Jiangxi Sanxin Medtec Co., Ltd. These industry leaders leverage various growth strategies, including product launches, acquisitions, and collaborations, to drive the global IV bags market forward.

Related Reports:

Non-PVC IV Bags Market: https://www.datamintelligence.com/research-report/non-pvc-iv-bags-market

Ethylene Vinyl Acetate Resins Market: https://www.datamintelligence.com/research-report/ethylene-vinyl-acetate-resins-market

Ethylene-Vinyl Alcohol Copolymer (EVOH) Films Market: https://www.datamintelligence.com/research-report/ethylene-vinyl-alcohol-copolymer-films-market

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