Global Non-PVC IV Bags Market Key Insights 2024-2033
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
Overview of Market Growth
The non-PVC IV bags market has shown robust growth recently and is poised for continued expansion.
- Market Value: From $1.63 billion in 2023 to $1.79 billion in 2024.
- CAGR: 9.7%.
- Future Projections: Expected to reach $2.60 billion by 2028 with a CAGR of 9.8%.
This growth is driven by a shift towards non-toxic materials for medical packaging, increasing chemotherapy treatments, and a rising prevalence of chronic diseases.
Factors Driving Historical Growth
Several key factors have contributed to the significant growth of the non-PVC IV bags market:
- Demand for Non-Toxic Materials: Non-PVC materials are preferred to avoid the risks associated with harmful chemical leaching from traditional PVC.
- Rise in Chronic Illnesses: Increasing cases of chronic kidney diseases and higher chemotherapy rates drive demand.
- Aging Population: The growing geriatric population increases the need for medical treatments and thus non-PVC IV bags.
View More On The Non-PVC IV Bags Market Report 2024 – https://www.thebusinessresearchcompany.com/report/non-pvc-iv-bags-global-market-report
Future Growth Drivers
Looking ahead, the market is expected to continue its upward trajectory due to:
- Cancer Incidence: Rising cancer rates increase the need for IV bags in treatment.
- Healthcare Expansion: More hospitals and ambulatory centers are being established, boosting demand.
- Patient Traffic: Higher patient volumes in healthcare settings necessitate non-PVC IV bags for safer treatment.
- Government Initiatives: Increasing focus on healthcare quality and safety drives market demand.
Major Market Trends
Several trends are shaping the future of the non-PVC IV bags market:
- Infrastructure Development: Ongoing expansion in healthcare facilities and services.
- Innovative Materials: Development of advanced materials and designs for IV bags.
- Technological Advances: Improved service quality and sophisticated IV bag designs.
- Single-Chamber Bags: Growing preference for single-chambered non-PVC IV bags due to their efficiency.
Increasing Patient Traffic and Its Impact
The growing number of patients seeking medical care is a significant factor driving the market:
- Demand Surge: Increased admissions and diagnostic tests place pressure on emergency departments.
- Healthcare Statistics: High patient volumes, such as the 1.63 million patients initiating treatment in January 2024, underscore the need for reliable IV solutions.
Innovative Polyolefin Film IV Containers
Innovation is a key driver in the market, with polyolefin film IV containers leading the way:
- Product Example: Fresenius Kabi’s Freeflex IV bags, launched in April 2021, feature a unique multilayer polyolefin film, enhancing leak resistance and handling.
- Benefits: These containers offer improved safety and ease of use compared to traditional options.
Recent Developments: Acquisition of Fresenius Kabi’s Production Site
In November 2023, Prange Group and Adragos Pharma acquired Fresenius Kabi’s sterile pharmaceutical production site:
- Expansion Goals: The acquisition aims to broaden production capabilities in Europe, North America, and Japan.
- Long-Term Supply Agreement: Fresenius Kabi will continue supplying products from the acquired site, supporting ongoing market growth.
Market Segmentation
The non-PVC IV bags market is segmented as follows:
- By Product: Single Chamber, Multi Chamber
- By Material: Ethylene Vinyl Acetate, Polypropylene, Copolyester Ether, Other Materials
- By Content: Frozen Mixture, Liquid Mixture
- By Application: Chemotherapy, Targeted Drug Delivery, Glucose Injection, Sodium Chloride Solution, Electrolyte Injection, Nutrient Injection, Other Applications
- By End User: Hospitals, Clinics, Emergency Service Centers, Ambulatory Surgical Centers, Other End Users
Regional Insights
- North America: Dominated the market in 2023.
- Asia-Pacific: Expected to be the fastest-growing region in the forecast period.
Conclusion
The non-PVC IV bags market is on a strong growth trajectory, driven by increasing patient needs, innovative product developments, and expanding healthcare infrastructure. As the demand for safer and more efficient medical solutions rises, the market for non-PVC IV bags is set to continue its impressive growth in the coming years.
Request A Sample Of The Global Non-PVC IV Bags Market Report 2024:
https://www.thebusinessresearchcompany.com/sample_request?id=15621&type=smp