The IV Bags market is expected to grow at a CAGR of 5.6% over forecast period 2021 and 2030. The increasing adoption of injection-based therapies in various treatment modalities has been fuelling the demand for IV bags.
According to study, among applications, injection-based therapies are likely to create incremental opportunity of more than 1.5 Bn between 2020 and 2030. IV bags sales will surge further, spurred by the demand from parenteral nutrition players and intravenous therapy providers.
Among various types of bags available, single chamber IV bags more preferred. To identify hidden opportunities, VRR segments the market in terms of material type, capacity, chamber type, and application across five key regions. According to the report, polypropylene material for IV bags is expected to hold the dominant share in the market since these bags are available at a low cost and they offer better puncture resistance and durability.
COVID-19 Impact on IV Bags Market
While other markets are struggling to cope up amid disruptions caused by the COVID-19 outbreak, conditions have been favoring IV bags sales. However, challenges caused due to limited raw material availability and worker’s isolation have led to slow down of manufacturing activities.
While sales via physical stores may have suffered, contrary to this, the market has been gaining from surging ecommerce sales. Thanks to the rising digital engagement as consumers aim at limiting contact, businesses too are adopting practices that complement with social distancing rules.
Additionally, after the spread of the virus, consumers have become more cautious about hygiene. Manufacturers are therefore focusing on using packaging materials that will offer protection against contaminants during transit. These factors are expected to favor growth of the market for IV bags.
Material Innovations Hold Key to Success
Ardebil’s Arta Serum Company partnered with Barekat Foundation to manufacture a new generation of IV fluid bags, which can better prevent absorption or discharge of serum through the walls of the bags. Traditional bags were known to absorb almost 30% of the medication in the solution. It incurs huge loss in case of cancer medication, which is both costly and rare. Producers claim that the new generation IV bags can overcome all deficiencies of existing plastic packs. Therefore, innovation, in terms of materials used, are expected to offer lucrative opportunities for growth of the market.
Convenience at the Core of Innovation
Some of the leading manufacturers across the world are focusing on product innovation, with their key objective being ensuring improved convenience. Fresenius Kabi’s new non-PVC intravenous fluid and drug combination delivery system exemplifies the same. Known as FreeFlex, these delivery systems are designed to improve consumer experience and offer extended pH interval and drug compatibility.
More importantly, these bags are environment-friendly and have easy-to-peel overwrap. They are available in sizes ranging from 50 ml, up to 1000 ml and more importantly they are free from any synthetic additive, glue, and PVC. Along with these attributes, these new generation bags are tamper-proof and offer better protection against airborne contamination.
The market is expected to witness similar innovations especially since several other manufacturers are aiming at improving features of their IV bags to gain competitive advantage in the market.
Incompatibility of IV Bags with Certain Biological Compounds
Risk of potential incompatibility between the solutions with the container poses threat to the market players. Often, solutions contained inside an IV bag can react to materials used for making the bag, causing imbalance or disruption in the pH value of the solution. Such incompatibilities can cause either physical or chemical reaction, with the latter being more harmful, as it increases the chances of producing toxic by-products.
For instance, as per an independent study, diazepam injection into plastic IV bags resulted in the loss of potency of the solution by more than 24%. Therefore, it was recommended that glass containers should be used to administer diazepam. Once established, such results are anticipated to hamper the growth of the global IV bags market.
Rising Incidence of Chronic Ailments Creating Growth Opportunities
One of the key factors enabling growth in the market remains the need for effectively administering parenteral drugs to patients who find it difficult to take medicines orally. For these patients, drugs need to be administered intravenously. Parenteral drugs are often prescribed for the treatment of chronic intestinal diseases, renal failure, diabetes, hepatic failure, and cancer.
VRR therefore sees the rising incidence of chronic ailments as one of the chief drivers of the market. According to the World Health Organization (WHO), the prevalence of non-communicable diseases will ascent by 57% between 2015 and 2020. Against this backdrop, experts are predicting soaring demand for IV bags in the coming years.
According to the WHO, chronic ailments such as type-2 diabetes mellitus and chronic obstructive pulmonary disorder (COPD) are primary focus of pharmaceutical companies, since they have been looking for ways of curbing the incidence, which has been spreading rapidly.
Adoption of Parenteral Nutrition Therapy Shaping Growth
According to the WHO, nearly 11% of diseases affecting people around the world results from the lack of healthy sustenance. Parenteral nutrition (PN) has been designed to help such patients receive sufficient dietary help they require. The rising incidence of diseases such as gastro-intestinal disorders, malignancy, ischemic gut malady, Crohn’s disease, and diabetic intricacies is spurring interest in parenteral nutrition.
PN means intravenous administration of nutrients, which may incorporate protein, starch, mineral, electrolyte, fat, vitamins, and other components required by a patient, who due to a certain health complication is unable to ingest food in substantial quantity.
Administering intravenous nutrition in the prescribed way can help battle various health complexities and is a crucial part of a patient’s recuperation. As the incidence of chronic ailments is likely to rise in the near future due to nourishment scarcity and changing ecological situation, the demand for parenteral sustenance is likely to remain constant.
Sustainability Emerges as Key Strategic Move
Some of the leading manufacturers of IV bags have been shifting their focus towards sustainability to curb hazardous impact on the environment. Lately, concerns pertaining to disposability and recyclability of IV bags have been surging, which have compelled some of the leading producers to rethink their production strategies.
To reduce carbon footprint, international organizations such as the Food & Drug Administration, have issued notices recommending the use of non-PVC and non-DEHP IV bags. Following such regulations Baxter International has introduced its Aviva line, which specifically offers PVC/DEHP-free IV bags.
Non-PVC and non-DEHP materials also help in improving moisture barrier properties and thermal stability, which are considered highly crucial for IV medication. Citing some of the impressive improvements in functionalities, leading companies are willingly transitioning to more sustainable methods of production. This also is expected to help them in creating brand value among customers.
The presence of established companies as well as several smaller and local players has rendered the global IV bags market highly fragmented. VRR finds that larger percentage of the overall market share is currently held by local and domestic companies. To study the nature of competition prevailing in the market, TMR has profiled companies such as B. Braun Melsungen AG, Baxter International Inc., Pfizer Inc, Wipak Group, Technoflex S.A, Fresenius SE & Co KGaA, Sippex, Polycine GmbH, Kraton Corporation, The Metrix Company, Medicopack A/S, Macopharma SA, Haemotronic S.p.A., Renolit Solmed, Otsuka Pharmaceutical India Private Limited, Alfa Laboratories, Qosina Corporation, ICU Medical, Inc., JW Life Science and Angiplast Pvt. Ltd.
It has further classified the company in different tiers to study their competitive strengths. For instance, companies such as B. Braun Melsungen AG, Baxter International Inc., Kraton Corporation and Fresenius SE & Co KGaA are identified as Tier 1 players. These companies primarily focus on the expansion of their production capacity. In order to strengthen their footprint, they also are likely to acquire local players. Likewise, some of the companies included in Tier 2 are RENOLIT Group, Terumo Corporation, and ICU Medical, Inc.
Global IV Bags Market Segmentation
IV Bags Market by Material Type
IV Bags Market by Capacity
IV Bags Market by Chamber Type
IV Bags Market by Application
IV Bags Market by Region
The IV bags market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of IV bags market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global IV bags market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the IV bags market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted IV bags market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the IV bags capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of IV bags by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global IV bags market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major IV bags market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of IV bags market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the IV bags industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
IV bags market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to IV bags market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of IV bags market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new IV bags market. These factors have benefited the growth of the global market for IV bags. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for IV bags. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of IV bags are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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