Global Empty IV Bags Market Size, Share & Industry Trends Analysis Report By Product (PVC and Non-PVC (Single Chamber and Multi Chamber)), By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Empty IV Bags Market
Market Report Description
The Global Empty IV Bags Market size is expected to reach $6.7 billion by 2028, rising at a market growth of 7.8% CAGR during the forecast period.
An intravenous (IV) bag that has been emptied is a sterile container that may be used for the storage and transportation of intravenous fluids or other drugs. It is often constructed of plastic or paper and has a valve that enables fluid or medicine to be infused into the bloodstream of the patient.
Empty intravenous (IV) bags are medical devices that are designed for the transfer and mixing of pharmaceuticals. They are also used for the intravenous administration of solutions via the use of a spike port. In most cases, the gadgets in question do not have a tamper-proof function. The FDA has given its approval to attachments for these devices that are designed to create a tamper-proof closure for intravenous bags.
IV bags are exclusively used in medical environments that need a prescription, such as hospitals and other medical institutions that provide inpatient and outpatient care. PVC-made empty IV bags pose a threat to both human health and the environment as a result of phthalates leaking from medical equipment, as was the conclusion of extensive studies conducted in the area of medicine. In addition, the combustion method for disposing of PVC materials leads to the generation of the harmful gas hydrogen chloride (HCL).
This adds even more to the problem of acid rain. The medical profession has the potential to make substantial headway in protecting the health and safety of the world's patient population if they switch to using empty IV bags that do not contain PVC. These kinds of elements are projected to propel the usage of non-PVC empty IV bags, which will, in turn, contribute to the expansion of the market.
COVID-19 Impact Analysis
The pandemic caused by COVID-19 has presented the healthcare sector on a global scale with a variety of difficult issues. Patients suffering from a wide range of illnesses have less access to proper medical facilities as a result of restrictions placed on medical service provision. On the other hand, the spike in hospital admission rates that has been attributed to COVID-19 has resulted in an increase in the demand for intravenous bags that are used in IV treatment across all hospital settings worldwide. As a result, even after the pandemic has been contained, it is anticipated that the market will see the growth that is both considerable and ongoing.
Market Growth Factors
An increasing number of reported instances of cancer
According to the World Health Organization (WHO), cancer is the second biggest cause of death worldwide. In 2018, an estimated 9.6 million people died from cancer, making it the cause of one out of every six fatalities. It is anticipated that the predominance will increase even more in the years to come. Cancer, in general, leads to a rise in the prevalence of stomach ulcers, interruptions in the normal operation of the gastrointestinal system, and the creation of physical obstructions; all of these factors contribute to an increased requirement for parenteral nourishment.
Prohibition of the use of iv bags made of PVC boosts the rate of growth
The vinyl chloride monomer (VCM) and ethylene dichloride that go into the production of PVC are the two main ingredients (EDC). VCM is a strong carcinogen. Dioxin is produced during the manufacturing of EDC, which is neurotoxic. The employees at the PVC factory and the communities that surround it suffer from elevated incidences of cancer and other ailments as a direct consequence of this. The market for empty IV bags has seen growth as a result of the rising demand for IV bags that are beneficial to the environment.
Market Restraining Factor
The Potential for Adverse Consequences from IV Treatment
Even while vitamin IV therapies have significant risks, the majority of those negatives may be mitigated if they are administered under the supervision of a trained medical expert who adheres to prudent safety policy. Infusions of vitamin IV might provide a few difficulties at times. If certified medical experts are not accessible to deliver the therapy, it must be done so in a hospital setting. It's possible that having excessive amounts of some vitamins in your body might be harmful. For instance, consuming an excessive amount of vitamin A might result in adverse consequences ranging from headaches and dizziness to even death in the most difficult situations.
Based on product, the market for empty IV bags are classified into PVC and non-PVC. The non-PVC segment represented a significant revenue portion of the overall market in 2021. It is anticipated that there will be a rise in demand for materials that do not contain PVC because of the growing need for non-toxic IV containers and the rigorous law that prohibits the use of PVC. These bags help reduce the risks that are associated with traditional PVC empty IV bags, including the difficulties associated with transportation and the interaction between drug packaging material and disposable containers.
|Market size value in 2021||USD 4 Billion|
|Market size forecast in 2028||USD 6.7 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 7.8% from 2022 to 2028|
|Number of Pages||181|
|Number of Tables||340|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Product, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on region, the empty IV bags market is categorized into North America, Europe, Asia Pacific, and LAMEA. North America was the leading region in the market for empty IV bags in 2021, accounting for the highest revenue share. One of the elements that is contributing to the increased acceptance of empty IV bags in the area is the ease of access to healthcare technology. Another aspect contributing to this adoption is the development of strong distribution channels. It is anticipated that factors such as a high illness incidence, supportive reimbursement policies, and an established regulatory framework would all contribute to an increase in the use of empty IV bags in the area.
Free Valuable Insights: Global Empty IV Bags Market size to reach USD 6.7 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Baxter International, Inc., B. Braun Medical Inc., ICU Medical, Inc., Becton, Dickinson and Company, Fresenius SE & Co. KGaA, Wipak Oy (Wihuri Group), Renolit SE, Technoflex, Medippex Group, and Polycine GmbH.
Scope of the Study
Market Segments Covered in the Report:
- Non-PVC Type
- Single Chamber
- Multi Chamber
- Non-PVC Materia Type
- Copolyester ether
- Ethylene-vinyl acetate
- Non-PVC Type
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Baxter International, Inc.
- B. Braun Medical Inc.
- ICU Medical, Inc.
- Becton, Dickinson and Company
- Fresenius SE & Co. KGaA
- Wipak Oy (Wihuri Group)
- Renolit SE
- Medippex Group
- Polycine GmbH
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North America Empty IV Bags Market Report 2022-2028
Europe Empty IV Bags Market Report 2022-2028
Asia Pacific Empty IV Bags Market Report 2022-2028
What would be the size of the Empty IV Bags Market by 2028?
The global Empty IV Bags Market size is expected to reach $6.7 billion by 2028.
What are the key driving factors and challenges in the Empty IV Bags Market?
An increasing number of reported instances of cancer are driving the market in coming years, however, The Potential for Adverse Consequences from IV Treatment restraints the growth of the market.
What are the major top companies in the competitive landscape?
Baxter International, Inc., B. Braun Medical Inc., ICU Medical, Inc., Becton, Dickinson and Company, Fresenius SE & Co. KGaA, Wipak Oy (Wihuri Group), Renolit SE, Technoflex, Medippex Group, and Polycine GmbH.
Which segment is leading the market in 2021?
The PVC segment is leading the Global Empty IV Bags Market by Product in 2021 thereby, achieving a market value of $3.6 billion by 2028.
Which region dominated the Empty IV Bags Market in 2021?
The North America market dominated the Global Empty IV Bags Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2.8 billion by 2028.