Thursday, 13 October 2022 04:33 AM
Company Update
WILMINGTON, DE / ACCESSWIRE / October 13, 2022 / Transparency Market Research Inc. - IV bags are a key product segment in the field of parenteral packaging and are assisting in supplying plastic materials, needed for intravenous therapy at healthcare infrastructure units such as hospitals and clinics. Key factors behind the increasing demand for IV bags in parenteral packaging are ease of product availability and cost-effective nature.
Prominent IV bags market players are making huge investments in research and development undertakings such as establishing R&D centers that function to manufacture improved IV bags that would requirements of patients suffering from different diseases.
IV bags have also displayed high efficiency in the accurate delivery of medication to blood veins through the transfusion process. With healthcare facilities becoming accessible in remote locations, IV bags could witness increased demand during the assessment period, which could help grow the market.
New IV bags launch is helping leading players in generating large amounts of revenue and assisting the players in gaining an edge over competitors. Fagron Sterile Services launched a new PV-free, eco-friendly IV bag in 2021, which has proven effective in drug delivery.
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Key Findings of IV Bags Market Study
- Rising Prevalence of Chronic Diseases Triggering Growth in Overall IV Bags Market: The last few years have witnessed surge in population sections suffering from different chronic diseases such as cancer, diabetes, hepatic failure, and renal failure. Prevalence of these disorders in elderly population has made it difficult for patients to consume medication for recovery, which has risen the demand to offer parenteral drugs intravenously. Growing demand for parenteral drugs is augmenting the growth in overall IV bags market
- Increasing Product Demand from E-commerce Websites Boosting Growth in IV Bags Market: The outbreak of COVID-19 pandemic led to governments imposing lockdowns and restrictions to reduce the spread of the virus, leading to closure of physical stores. The shutting down of offline distribution channels may have impacted market growth but demand for IV bags witnessed surge during the pandemic phase via online distribution channels such as e-commerce websites. Key factors for high IV bags demand on e-commerce websites include product availability at reduced prices and doorstep product delivery. Rising IV bags demand on online distribution channels such as e-commerce websites is stimulating growth in global IV bags market
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IV Bags Market: Key Drivers
- Growing IV bags demand in healthcare industry is one of the key driving factors of global IV bags market
- Rising infusion pumps production for use in intravenous therapy procedures is fueling IV bags demand and triggering the growth in IV bags market
- Increasing demand for non-PVC and non-DEHP IV bags to decrease carbon footprint is stimulating the growth in overall IV bags market
IV Bags Market: Key Players
Presence of several well-established market players has led to intense competition in global IV bags market. Intensity in global market could increase during the assessment period if new players enter the global IV bags market.
Signing collaborative agreements with smaller players is a growth strategy that is assisting prominent IV bags market players in expanding their presence in global market and improving their revenue.
Some of the leading players in global IV bags market include POLYCINE GmbH, ICU Medical, Inc., Baxter Co., Pfizer, West Pharmaceutical Services, Alfa Laboratories, Jiangsu Eyoung Medical Devices, Wipak, and Technoflex.
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The global IV bags market is segmented as follows:
Material TypeMaterial Type
Polypropylene
Polyvinyl Chloride
Polyethylene
Others (Copolyester Ether & EVA)
Capacity
0-250 ml
250-500 ml
500-1000ml
Above 1000 ml
Chamber Type
Single Chamber
Multi Chamber
Application
Parenteral Nutrition
Intravenous Therapies
Region
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa (MEA)
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