Valued at US$1.89 billion in 2022, the global IV bags market is expected to develop at a CAGR of 10.9% over the next ten years. One of the key forces propelling the demand for IV bags forward is the growing need for preventative measures to address problems like incorrect dose delivery and the increased need for cutting-edge IV containers. By 2032, analysts anticipate the IV bags market is expected to be worth US$ 5.31 Billion.
IV Bags Market Size Value (2022)
US$ 1.89 Billion
IV Bags Market Size Value (2032)
US$ 5.31 Billion
IV Bags Market Growth Rate (2022-2032)
Production facilities for IV bags are typically located near major markets, such as Europe and North America. Most of the medical industry still produces in these regions, either to be close to their clientele or to satisfy local regulations.
Some corporations that have transferred production to developing countries have discovered that the advantages of cheaper labor costs and accessibility to rapidly expanding IV bag markets have been offset by quality concerns and logistics problems or have faded over time. However, several industry leaders are reconsidering their strategies in light of emerging trends.
IV bag market leaders are starting to organize their supply chains around the places where they can cut costs without sacrificing quality or accessibility to their target customers. Manufacturing hubs have arisen in countries like Costa Rica and Malaysia due to their ability to meet quality and talent criteria, and the governments of these countries have responded by offering a variety of incentives to attract multinational corporations.
Given the time, effort, and resources needed to implement the necessary changes, manufacturing and distribution network optimization can seem like a difficult task. Despite this, IV bag manufacturers are boosting their odds of success by taking a methodical, data-driven strategy.
When done correctly, a network transition may be a goldmine for IV bag businesses. The market analysis shows that in three years, they can save up to 15% in costs and cut down on delivery times. However, the goal of network transformation is more than merely saving money.
It also affords businesses the chance to strategically evaluate their operational model and forge a competitive advantage in the years to come. Several pioneers in the field are already well down this road; those who don't keep up run the risk of being left in the dust.
The IV bag sector is emerging from a period of turmoil exacerbated by the COVID-19 problem. IV bag companies that thrive in the 2020s are likely to make "where to play" decisions that fortify their portfolios and position their categories and brands on the winning side of disruptive trends.
Furthermore, companies are anticipated to embrace a new operating model that places emphasis on consumer closeness and intelligent productivity improvements to fuel commercial investments, as well as a new "how to win" approach that emphasizes relevant consumer marketing and selling across expanding channels.
As a result of these changes, established companies and start-ups alike are likely to be able to expand their customer bases and revenue streams.
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Integrity and high performance quality are necessary features for products supplied in the parenteral packaging market. The global IV bags market has emerged as a key market segment in the parenteral packaging market and is marked by supply of plastic materials used for intravenous therapy with principal application in hospital care.
Patients suffering with diarrhea and fever are prone to experience low electrolyte levels, which causes moderate or severe case of dehydration, especially in children. IV bags are used in intravenous therapy for curing or rehydrating the patient. IV bags are also useful for delivering medications and for blood transfusion directly to veins.
IV bag costs around US$ 1, while alternative products such as infusion pumps costs around US$ 2300. Easy availability and affordability of IV bags have made it a widely preferred parenteral packaging solution. Significant number of countries across the globe have limited capacity in terms of procuring infusion pumps for intravenous therapy, due to which the demand for IV bags is strengthening globally.
The need for blood storage is another important factor driving the demand for IV bags market, as blood stored in the IV bags can be important for saving the life of a patient during critical time. The extensive use of IV bags for delivering the medications to a patient directly to the veins is another factor influencing the demand for the IV bags market.
The increasing penetration of the medical facilities in underdeveloped areas of many countries is expected to provide opportunities to IV bag market over the forecast period. In the backdrop of the ability of the IV bags to meet storage, transportation, sterilization, and handling requirements the demand for IV bags market is expected to move vertically upwards.
The risk of infection and collapsing of veins due to the needle being attached for a longer period is a concern of many authorities which may hamper the IV bags market. The improper monitoring of the intravenous therapy can also cause the nutrient imbalance in the patient body.
The presence of substitute of IV bags such as plastic bottles, glass bottles, and infusion pumps to control the flow of the solution into the veins can resist the growth of the IV bags market. IV bags are commonly manufactured of the standard size of 1 liter, and children cannot be exposed to such large size of a solution of electrolyte.
So in developing countries where patient to staff ratio is extremely small IV bags market may not have future growth, especially if there is some technological development which is as cheap as IV bags. However, the replacement of PVC material with eco-friendly materials could provide product development opportunities into the IV bags market.
North America is expected to lead the IV bags market over the forecast period due to its wide scope in the healthcare sector, particularly due to the high rate of obesity in the region. IV bags market is anticipated to register rapid growth in APEJ region over the forecast period owing to the increasing penetration of medical facilities in the rural areas, densely populated areas, increased awareness and demand for healthy life.
The growth for IV bags market in Eastern and Western Europe in expected to be remain moderate over the forecast period.
Some key players of IV bag market are Mountainside Medical Equipment, Kraton Performance Polymers Inc., Renolit, Angiplast Pvt. Ltd, Medline Industries, Inc., Baxter, Sippex IV bag, Wipak Group Management, B. Braun Medical Inc., ICU Medical, Inc., Guangdong lejin medicine Co.,Ltd, Fresenius Kabi Group.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
IV bag market can be segmented by the type of material used and by the end use and by capacity.
Based on the type of material used, IV bag market can be segmented into:
Based on the type of end use, IV bag market can be segmented into:
Based on the size, IV bag market can be segmented into:
Regionally global IV bag market is segmented into