IV Bags Market Size and Share: A Steady Climb Driven by Global Health Trends
In the wake of the rising global prevalence of chronic diseases, the demand for Intravenous (IV) therapy is on the upswing. IV therapy, which effectively replenishes electrolyte levels in the human body, has become increasingly popular as a treatment method for conditions such as diarrhea and chronic fever. According to the World Health Organization (WHO), diarrhea has remained one of the leading causes of death worldwide, particularly among children, with approximately 1.7 billion childhood diarrhea cases recorded globally. This surge in demand for IV therapy has, in turn, provided a significant boost to the sales of IV bags, as competitors recognize the effectiveness and cost-efficiency of this method compared to traditional infusion pumps.
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Cancer-Related Ailments Fuel Demand for Parenteral Nutrition, Offering Opportunities for IV Bags Market
The incidence of cancer has been on the rise in recent years, leading to an increased need for parenteral nutrition. Cancer is a major contributor to conditions such as stomach ulcers and disruptions in the gastrointestinal tract, which can be effectively treated by injecting fluids through veins. This presents a substantial opportunity for IV bag manufacturers to meet the growing demand for parenteral nutrition.
Furthermore, the demand for IV bags is expected to surge in the field of oncology, driven by targeted drug delivery procedures and chemotherapy. The International Agency for Research on Cancer (IARC) predicts that the number of cancer cases will grow from 17 million to 27.5 million between 2018 and 2040, resulting in an estimated 16.3 million deaths during this period. This global burden underscores the importance of parenteral nutrition and offers a significant growth opportunity for IV bag manufacturers.
A Shift Towards Sustainability in IV Bag Manufacturing
Leading companies in the IV bags manufacturing industry are increasingly focusing on sustainability to mitigate the environmental impact of IV bag materials. Concerns have grown over the recyclability and disposability of IV bags, prompting manufacturers to revamp their production processes. The Food and Drug Administration (FDA) has recommended the use of non-DEHP and non-PVC IV bags to reduce the carbon footprint. Manufacturers are now utilizing low carbon footprint materials in their IV bags, such as Baxter’s Aviva line, which offers DEHP/PVC-free IV bags. Similarly, B. Braun Medical Inc. launched PVC-free IV bags in the US market in September 2021, featuring moisture barrier properties and environmental friendliness, along with thermal stability.
Affordability and Availability: Key Factors Driving IV Bags’ Success
IV bags, priced at approximately US$1 each, offer a highly cost-effective alternative to infusion pumps, which can cost over US$2000. Apart from affordability, IV bags are readily available, making them the preferred choice for parenteral nutrition. Additionally, IV bags are used for the storage, transportation, and dispensing of fluids, contributing to their global market growth.
While IV bags offer numerous advantages, certain challenges must be addressed, including the risk of needle infection and vein collapsing due to inadequate monitoring, which can result in nutrient imbalances. However, these challenges can be effectively managed with appropriate measures.
North America Poised for Lucrative Growth in the IV Bags Market
The IV bags market is expected to experience significant growth opportunities in developed countries in North America. This is attributed to the high prevalence of chronic diseases such as cancer and diarrhea in the region. Sales of IV bags in the United States are projected to surge, given the significant presence of Norovirus, a leading cause of diarrhea across all demographics. According to the Centers for Disease Control and Prevention (CDC), Norovirus has caused over 20 million cases of gastroenteritis, resulting in approximately 70,000 hospitalizations and over 600 deaths in the US. With an expanding patient pool and improved healthcare infrastructure, the United States presents substantial growth potential for IV bag manufacturers.
An Opportunistic Market
The modest but steady increase in demand for IV bags, coupled with higher investments in healthcare infrastructure, has led to the expansion of medical facilities, which is expected to influence the sales of IV bags positively. The IV bags market is poised for growth, and manufacturers can anticipate a range of opportunities in the near future.
Key Players in the global IV Bags market include Baxter International, ICU Medical Inc., Technoflex, Sippex, POLYCINE GmbH, Wipak Group, and B. Braun.
Global Industry Analysis (2018 – 2021) – Growth Trends and Market Forecast (2022 – 2029) https://www.fairfieldmarketresearch.com/report/iv-bags-market
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