PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1628901
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1628901
Empty IV Bags Market size was valued at USD 4,994.5 Million in 2023, expanding at a CAGR of 8.90% from 2024 to 2032.
Empty intravenous (IV) bags are medical containers that are empty of contents but made to store different intravenous fluids, including saline solution or drugs. In order to handle varying fluid quantities, they are usually manufactured of flexible plastic and come in a variety of sizes. These bags are essential for directly delivering therapies into the bloodstream in medical settings. They are attached to IV lines and used for intravenous therapy, transfusions, or hydration after being filled with the necessary solution or drug. The growing global cancer prevalence, more government initiatives, and rising rates of malnutrition are the main drivers expected to propel the empty IV bag market's growth throughout the forecast period. Additionally, the industry is anticipated to see potential prospects as a result of growing environmental consciousness regarding non-PVC IV bags.
Empty IV Bags Market- Market Dynamics
Rising Number of Surgical Procedures
It is anticipated that the market for empty IV bags will continue to expand due to the increasing number of surgical procedures. Medical interventions or treatments that use invasive techniques to repair or correct injuries, abnormalities, or health issues within the body are known as surgical procedures. The number of surgical procedures is rising as a result of greater access to healthcare, ageing populations, the incidence of chronic diseases, patient demand and expectations, and medical technological developments. The provision of vital fluids, drugs, blood products, and anaesthetic support during surgical procedures depends heavily on empty intravenous (IV) bags. For instance, a report released in January 2023 by the International Society of Aesthetic Plastic Surgery (ISAPS), a professional non-governmental organization based in the United States, stated that the total number of medical procedures performed in 2021 increased by 19.3%, with surgical procedures increasing by 18.5% and non-surgical procedures growing by 19.9% over 2020. Thus, the market for empty IV bags is expanding due to the increase in surgical procedures.
Empty IV Bags Market- Key Insights
As per the analysis shared by our research analyst, the global Empty IV Bags Market is estimated to grow annually at a CAGR of around 8.90% over the forecast period (2024-2032)
Based on product segmentation, the PVC category was predicted to show maximum market share in the year 2023
Based on type segmentation, the single chamber type was the leading segment in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Empty IV Bags Market is segmented on the basis of Product, Type, and Region.
Based on product, the Empty IV Bags Market is divided into PVC and Non-PVC (Polypropylene, Ethylene-vinyl acetate, Copolyester ether, Others). The PVC category led the market growth in 2023. When making flexible parenteral packaging films, PVC is one of the main polymers employed. It is a popular material due to its many advantageous technical properties, ease of usage, and low production costs. Furthermore, rehydration solutions such as sodium chloride, antibiotics, lactated Ringer's solution, sterile water, glucose, parenteral nutrition, and analgesics are frequently packaged in PVC empty IV bags for use in veterinary clinics and hospitals, among other settings. Prominent industry players such as Techno Flex and RENOLIT SE also provide PVC empty IV bags.
On the basis of type, the market is categorized into Single Chamber Type and Multi Chamber Type. The single-chambered bag category held the biggest market share in 2023. Throughout the forecast period, a number of variables, such as strong consumption and a shortage of alternatives, are expected to support category growth. The need for multi-chambered bags is probably going to rise as long as different components have their storage. As a result, the category is expected to grow at the fastest rate over the projected period.
Empty IV Bags Market- Geographical Insights
Geographically, the Empty IV Bags Market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
North America was the market leader for empty IV bags worldwide in 2023. The region's high incidence of ailments like cancer, vomiting, and diarrhoea, together with the existence of significant corporations and a well-established healthcare system, are some of the main causes of the market's enormous share. Additionally, the market will grow as a result of favourable government initiatives and an increase in research collaborations. Because of its sophisticated healthcare market, big patient base, and favourable healthcare laws, the United States holds the highest share in this region. Acute vomiting and diarrhoea in people of all ages in the United States are primarily caused by norovirus, as per the Centers for Disease Control and Prevention.
Over the next several years, the Asia Pacific empty IV bag market is expected to expand rapidly. as a result of expanding patient awareness, rising healthcare expenses, and an increasing need for creative yet reasonably priced healthcare solutions. Additionally, the demand for empty IV bags is expected to rise in the coming years due to the burden of chronic diseases and the Asia Pacific region's ageing population. According to a United Nations Agency for Sexual and Reproductive Health (UNFPA) estimate, one in four of the 1.3 billion people who will inhabit the Asia-Pacific region by 2050 will be over 60. Another poll found that diabetes, cardiovascular diseases, and cancer are the most common illnesses in this region. Moreover, due to the large patient population and the growing demand for technologically advanced and reasonably priced healthcare solutions, the market is expected to rise significantly.
Some of the leading companies in the empty IV bags industry include Pfizer Inc., Grifols S.A., Fresenius Medical Care AG KGaA, Becton Dickinson and Company, Amcor LLC, Medisca Inc., and others. In order to begin mass manufacturing, manufacturers of empty IV bags are moving more swiftly to secure licenses for their goods. The market players are also employing a range of strategies to strengthen the position in the market, such as collaborations, product releases, new launches, and innovations like the creation of goods for empty IV bags. Furthermore, major companies in the market for empty intravenous (IV) bags are concentrating on creating cutting-edge intravenous bag platforms in order to increase patient safety. Advanced systems called intravenous bag platforms are made to guarantee the effective & safe administration of intravenous fluids and drugs. For instance, the US pharmaceutical business Fagron Sterile Services introduced an Intravenous (IV) Bag Platform in March 2021 to meet the growing need for necessary compounded sterile drugs during and after the COVID-19 pandemic. Hospitals and ambulatory surgery centres can now access a variety of drug presentations, including fentaNYL, HYDROmorphone, and midazolam. The IV bags are free of latex, come with extended beyond-use dating, and are individually overwrapped for product protection.
June 2022: Gufic Biosciences collaborated with a French business to manufacture its innovative technology in India. In order to store unstable medications that needed to be reconstituted just before being administered to a patient, Gufic Biosciences first introduced two-chamber IV bags made of polypropylene (DEHP-free) with peelable aluminium foil. This is anticipated to propel the growth of the empty IV bag market in the near future.
January 2022: Smiths Medical was purchased by ICU Medical from Smiths Group plc. By adding Smiths Medical's vascular access, ambulatory infusion devices, syringes, and vital care products to its portfolio, ICU Medical has become a premier infusion therapy company with a wider global presence.