Global Medical Fluid Bags Market to see growth of 7% from 2017 to 2024

Global medical fluid bags market is likely to manifest a lucrative roadmap over the forthcoming seven years, pertaining to the rising prevalence of chronic diseases and subsequent surgery rates. The elderly population across the globe is highly susceptible to chronic ailments, which subsequently results in side-effects such as difficulty in swallowing food and loss of appetite. This has sharply raised the demand of medical fluid bags in the healthcare sector. There is also a substantial rise in the number of people who are diagnosed with urinary and bowel incontinence, which has eventually led the medical fluid bags market growth graph to scale up a few notches. Furthermore, rising consciousness toward the harmful effects of PVC is one of the promising drivers that has impelled the growth of PVC free medical fluid bags, ensuring patient safety. As per a report by Global Market Insights, worldwide Medical fluid bags market is projected to grow at an annual rate of 7% over 2017-2024. The industry, which was pegged at USD 2.5 billion in 2016, is set to garner a revenue exceeding USD 4 billion by 2024.

The U.S. has emerged as a leading region for the growth of medical fluid bags industry, having held the largest share of global revenue in 2016. Rising prevalence of obesity and chronic diseases in the region has prompted medical fluid bags market growth. In addition, the country enjoys the privilege of a well-defined healthcare infrastructure and favorable reimbursement policies, which has remarkably uplifted the regional medical fluid bags market share.

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Rising awareness regarding medical care and the ill-effects of a sedentary lifestyle are certain to augment the products’ demand, thereby propelling the growth of medical fluid bags industry. For instance, pertaining to the rising occurrence of kidney failure and bladder issues coupled with the subsequent increase in the number of surgical procedures, one of the many medical fluid products gaining prominence among patients is the drain bag. This is vividly evident from the statistics - in 2016, drain bags accounted for the largest share of medical fluid bags market revenue, and is expected to grow at an annual rate of 7% over 2017-2024. That said, it has been observed that intravenous bags are also gaining traction, as there has been an increase in the number of elderly people receiving intravenous nutrition subject to their digestive problems and inability to swallow food.

Apart from the aforementioned ones, medical fluid bags industry encompasses myriad other products including enema bags, breast milk bags, biohazard disposable bags, blood bags, reagent bags, and dialysis bags. Among these, breast milk bags market is rapidly expanding with the rising number of working women and the increasing birth rate. Growing public awareness toward blood donation, medical emergency transfusions, and escalating number of surgeries have impelled the blood bags market demand. Regional governments are taking several initiatives to promote blood donations and establish blood banks. A significant rise in the number of scientific blood banks and blood donation centers has also positively influenced medical fluid bags industry share.

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Considering the material segment, the popular raw material used for blood transfusion kits and blood bags is thermoplastic polyurethanes (TPU). TPU medical fluid bags have greater resistance to chemicals and also have high tensile strength. Moreover, higher blood biocompatibility of these thermoplastic elastomers further supports the use of TPU material in blood bags. Rising tendency toward using sustainable, bio-based, and low-weight alternatives for raw materials has strongly impelled the growth of thermoplastic elastomers market. In addition, polyolefins led the overall medical fluid bags market share in 2016 and is predicted to record considerable growth over the coming years. The unreactive nature and high thermal stability of the material deems it suitable to be used for manufacturing medical bags.

Hospital is the major end-use segment, which seized the largest medical fluid bags industry share in 2016. Subject to increasing medical casualties, incontinence disorders, and surgeries, this segment is expected to record a CAGR of 7% over 2017-2024 and dominate the overall revenue share in the years ahead.

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China is expected to be the most opportunistic region for the expansion of medical fluid bags industry, as the country is experiencing a robust growth in healthcare infrastructure followed by the enforcement of favorable reimbursement policies. Rising geriatric population and the prevalence of incontinence disorders in the region has led the regional medical fluid bags industry to achieve new heights.

Prominent industry competitors include B. Braun Melsungen, Eagle Flexible Packaging, Inc., Thermo Fisher Scientific, Kraton Corporation, Fresenius Kabi, Baxter International, C. R. Bard, and Macopharma. These medical fluid bags industry participants have turned to adopting tactics such as strategic alliances, acquisitions, and joint ventures to strengthen their business presence and enhance their product portfolios.

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