The global empty IV bags market size is expected to reach USD 8.76 billion by 2030, registering a CAGR of 8.7% during the forecast period, according to a new report by Grand View Research, Inc. The market is expected to witness growth due to the increasing government initiatives, rising Natality rate, and rising geriatric population.
The growing risk of malnutrition is another major driver for the market’s growth. According to WHO, millions of people are suffering from different forms of malnutrition across the world. According to the study by the Global Coalition on Aging (GCOA) 2020, on average, 31.0% of patients admitted to hospitals are undernourished, and the prevalence is higher among seniors, affecting up to 52.7% of older people hospitalized with COVID-19. Thus, an aging population is significantly increasing the prevalence of various health issues, including nutritional problems and chronic non-communicable diseases. This is anticipated to support the industry growth in the coming years.
Key players are undertaking various strategic initiatives to develop technologically advanced products. Key players are adopting strategies such as mergers & acquisitions, purchasing agreements, and partnerships to launch new product lines with advanced technology. For instance, in January 2022, the acquisition of Smiths Medical's syringe and vascular access, ambulatory infusion devices, and vital care products to the ICU Medical portfolio establishes a prominent infusion therapy company with a stronger global presence. ICU Medical completed the acquisition of Smiths Medical from Smiths Group plc.
Furthermore, in June 2022, Gufic Biosciences worked in partnership with a French company to produce its novel technology locally in India. Gufic Biosciences first introduced two-chamber IV bags composed of polypropylene (DEHP-free) with peelable aluminum foil that could store unstable medications that required reconstitution right before giving them to a patient which is expected to drive the growth of the empty IV bags industry in near future.
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Empty IV Bags Market Report Highlights
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Based on product, the PVC is a popular material as it has a number of useful technical properties. Since PVC is comparatively cheap to manufacture and is easy to work with, which contributes to the segment growth
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The non-PVC empty IV bags segment is expected to grow at the highest CAGR during to forecast period, owing to technological advancements, environmentally friendly properties, and the rising number of surgeries. Non-PVC empty IV bags is further sub-segmented into single, and multi-chamber empty IV bags
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The Asia Pacific region is expected to grow at a fastest CAGR from 2024 to 2030, owing to various factors such as growing population, rising disposable income & healthcare expenditure, as well as the presence of large untapped opportunities in emerging economies such as China, and India. Moreover, investments being made by companies to expand their regional presence and develop healthcare infrastructure are further contributing to the market growth.
Empty IV Bags Market Segmentation
Grand View Research has segmented the global empty IV bags market report based on product, and region:
Empty IV Bags Product Outlook (Revenue, USD Million, 2018 – 2030)
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PVC
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Non-PVC
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By Type
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Single Chamber
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Multi Chamber
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By Material
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Polypropylene
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Copolyester Ether
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Ethylene-Vinyl Acetate
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Others
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Empty IV Bags Regional Outlook (Revenue, USD Million, 2018 – 2030)
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North America
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U.S.
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Canada
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Mexico
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Europe
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UK
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Germany
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France
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Italy
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Spain
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Denmark
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Sweden
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Norway
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Asia Pacific
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Japan
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China
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India
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South Korea
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Australia
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Thailand
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Latin America
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Brazil
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Argentina
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Middle East & Africa
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South Africa
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Saudi Arabia
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UAE
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Kuwait
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List of Key Players in the Empty IV Bags Market
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Baxter
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B. Braun Medical Inc.
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ICU MEDICAL, INC.
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Wipak
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RENOLIT SE
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TECHNOFLEX
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Sippex IV bags
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JW Life science Corp
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Fresenius Kabi AG
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POLYCINE GmbH
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BAUSCH Advanced Technology Group
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BD
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
