Sterile IV Containers Market Overview (2023 to 2033)
The global sterile IV containers market is projected to be valued at US$ 3.1 billion in 2023 and is anticipated to expand at a CAGR of 8.6%. Owing to the advances in packaging the market is likely to surpass US$ 7.1 billion by 2033. Some of the factors supporting the sterile IV containers market growth are:
Rapidly growing healthcare industry
Growing demand from the end-use industry
Growing prevalence of chronic disorders
North America dominates the market share of the global sterile IV containers market
The sterile IV containers are flexible in nature and majorly used in hospitals, clinics, and ambulatory care centers to store and protect IV (intravenous) solutions.
Due to the increased risk of contamination, many medical facilities are adopting sterile IV containers over nonsterile ones. Also, medical compliances regarding healthcare products are likely to boost the demand for sterile IV containers during the forecast period.
The other factors supporting market growth include the surging presence of local manufacturers in the global market, the manufacturing of sterile IV containers with sustainable material, and healthcare infrastructure development in emerging countries. Besides, technological advances in service quality and an increased number of hospitals worldwide are some of the other additional factors that drive the global sterile IV container market.
North America held the largest share of the sterile IV containers market due to rising actions taken by authorities, growing expenditure on research and rising cases of cancer and diarrhea. Also, the technological advances in healthcare and the presence of multiple market players drive market growth in the region.
Asia Pacific is anticipated to witness the fastest growth over the forecast period, owing to increasing healthcare expenditure, rising patient awareness, and a growing need for technologically advanced & cost-efficient healthcare solutions. Moreover, the rising elderly population and subsequently growing burden of chronic diseases are expected to boost the demand for sterile IV containers in the Asia Pacific in the coming years.
FMI research indicates sterile IV containers show great potential for not only durability but improving outcomes for buyers in different areas as sterile IV containers offers benefits like
Robust
More resistant
Durable
Lightweight
Flexible
Non Toxic, and Pyrogen Free
The manufacturers in the sterile IV containers market are boosting the production of latex and additive free contains that are safe for drug infusions. Improved research and development activities for the manufacturing of sterile IV containers are adding to the recycling and sustainable packaging of the IV containers owing to the better product properties such as durability, and sustainability design such as various shapes and sizes of the IV containers.
For instance, The European leader in medical devices Technoflex has developed Inerta® polypropylene sterile IV bags for sensitive molecules by combining the company’s latest R&D innovations. These bags are specially made for aseptic filling and the ‘butterfly’ design reduces the number of folds that form during filling and facilitates product flow.
The key market player in the sterile IV containers market include Mountainside Medical equipment, Renolit, Kraton performance polymers, Angiplast Pvt ltd, and B Braun Medical Inc. among others. The manufacturer is maintaining a robust supply chain since these containers are used in healthcare settings. They are ensuring business continuity by maintaining an optimal inventory of raw materials.
For instance, in November 2022 - Medline announced a multi-year prime vendor partnership, with Nebraska-based Bryan Health. The collaboration will help to identify new strategies for enhancing patient outcomes and streamlining supply chain operations for the healthcare system. Medline will also exclusively provide an extensive portfolio of essential medical supplies and solutions to Bryan’s acute care medical centers in Lincoln, Grand Island, Crete, and Central City.
Data Points
Key Statistics
Expected Market Value in 2023
US$ 3.1 billion
Projected Market Value in 2033
US$ 7.1 billion
Growth Rate (2023 to 2033)
CAGR of 8.6%
Growing pharmaceutical industry is likely to drive the growth for sterile IV containers market. Sterile IV containers are used to facilitate medical facilities and management. Increasing chronic diseases such as cardiovascular diseases, stroke, cancer and respiratory diseases are likely to augment the demand for sterile IV containers market.
The demand for sterile IV containers is due to the risk of cross-contamination and infections. Sterile IV containers are significant in drug administration to maintain the safety and quality of the drug. Furthermore, studies published by the New England Journal of Medicine suggest that using IV containers instead of saline reduces the risk of death or kidney damage which is expected to fuel the market growth for sterile IV containers.
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Sterile IV Containers Market: Dynamics
Sterile IV containers are widely used commonly in the healthcare industry. Since they prevent dehydration, maintain blood pressure and give nutrition to patients when they cannot eat. The design of sterile IV containers prevents it from collapsing reducing the risk of air embolism. Sterile IV containers guarantee the integrity of the containers.
Increasing expenditure on healthcare and rising disposable income is anticipated to fuel the market demand for sterile IV containers. Safe and hygienic medication has increased demand for packaging solutions, which are efficient and reliable. Features such as availability of IV containers in various sizes, shapes and configurations are likely to augment the market demand for sterile IV containers.
Technological developments and advancements in the manufacturing of sterile IV containers and sustainable raw materials are likely to boost the market demand for sterile IV containers.
Various healthcare facilities are preferring sterile IV containers due to demand for minimizing the exposure risk of the containers which can hamper the quality of IV containers resulting in a threat to human life. Furthermore, regulatory compliances regarding healthcare products are expected to grow market demand for sterile IV containers in the years to come.
Sterile IV Containers Market: Regional Outlook
North America region is expected to dominate the global sterile IV containers market owing to the high demand for healthcare facilities. Preference for hygienic and quality products is likely to drive the market demand for sterile IV containers in the region. Technological developments and R & D in the region to integrate technology with medical science is anticipated to augment the market demand for sterile IV containers.
Furthermore, the Asia Pacific owing to the growing demand for healthcare services along with an increase in expenditure on healthcare is likely to fuel the demand for sterile IV containers in the region.
