Empty IV Bags Market Worth $ 5.10 Billion By 2028 | CAGR: 8.10%

The global Empty IV Bags market size is expected to be worth around US$ 5.10 billion by 2028, according to a new report by Vision Research Reports.

The global Empty IV Bags market size was valued at US$ 3.08 billion in 2020 and is anticipated to grow at a CAGR of 8.10% during forecast period 2021 to 2028.

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Growth Factors

Rising incidence of cancer, favorable government initiatives related to non-PVC IV bags, and growing risk of malnutrition across the globe are the key driving factors for the market.

Government agencies of various countries are taking several steps to reduce usage of phthalate IV bags wherever possible without compromising on patient safety. For instance, Denmark introduced a national ban on Di-(2-ethylhexyl) phthalate (DEHP), Dibutyl Phthalate (DBP), Dibp Plasticizer (DIBP), and Butyl Benzyl Phthalate (BBP) under its national phthalate strategy, which was initially set for December 2013 and was later postponed to 2015. The Danish Health and Medicines Authority (DHMA) announced certain set of guidelines pertaining to usage of particular types of phthalates in medical devices. The aim of these initiatives was to ensure continued reduction in the use of classified phthalates in medical devices. Similarly, in May 2006, the Federal Institute for Drugs and Medical Devices, Germany, issued a recommendation for hospitals to minimize or avoid use of DEHP-containing medical devices for specific population groups, such as premature babies, infants, children, adolescents, pregnant women, and nursing mothers. The recommendation necessitates manufacturers to produce alternative products that are PVC-free and nontoxic.

Report Highlights

On the basis of product, the market is categorized into PVC and Non-PVC IV bags. The Non-PVC IV bags segment dominated the market in 2020n the basis of materials, the non-PVC market has been segmented into polypropylene (PP), Copolyester Ether (COPE), Ethylene-vinyl acetate (EVA), and others. The COPE segment is anticipated to witness fastest growth over the forecast period.

COPE for empty IV bags is used in combination with other materials such as polypropylene or other polyolefin resins. It improves strength of the product and imparts more clarity. For instance, Ecdel, trademark product of the Eastman Chemical Company offers transparency, chemical resistance, and toughness. COPE can also be processed on standard injection molding, film extrusion equipment, extrusion blow molding, and profile extrusion. These elastomers are also electron beam, radiation, autoclave sterilization, and ethylene oxide stable.

Based on type, the empty IV bags market is categorized into single and multi-chambered empty IV bags. The single chambered empty IV bags held the largest share in 2018. Single chamber bags are majorly used for common IV solutions, such as drip bags, irrigation fluids, and sterile water. Since these solutions are used at a large scale in hospitals as well as in homecare settings, the segment is expected to dominate the market over the forecast period. However, there are problems associated with plastic, such as leaching and susceptibility to puncture, that may contaminate the contents.

The multi-chambered bags are expected to witness fastest growth over the forecast period. Their usage is anticipated to increase over the forecast period due to advancements in parenteral nutrition systems. The growing demand for customized bags has led to an increase in the number of new entrants in the market. A large number of local manufacturers in Asia Pacific region have begun offering multi-chambered IV bags that can be customized according to size, material, and a number of chambers required. Manufacturers of these bags are mostly local players. However, major players such as Baxter International, Inc. are developing products that include fixed mixtures in multi-chambered bags. Growing demand and easy availability of products at competitive prices are among the factors expected to fuel segment growth during the forecast period.

North American region held the largest share in 2020 and is expected to maintain its dominance over the forecast period. The adoption of non-PVC bags in the region is high owing to rising acceptance of innovative healthcare technologies, high disease prevalence, better reimbursement policies, and increasing investments for improving healthcare infrastructure. Rising geriatric population, increasing consumption of unhealthy food, and low awareness are expected to aid growth the regional market.

Key Players

• Sippex IV Bag
• Technoflex
• Wipak Group
• Baxter
• B. Braun
• ICU Medical, Inc.

Market Segmentation

• Product Outlook
  • PVC Empty IV Bags
  • Non-PVC Empty IV Bags
    • Polypropylene (PP)
    • Copolyester Ether (COPE)
    • Ethylene-vinyl acetate (EVA)
    • Others
• Type Outlook
  • Single Chamber
  • Multi-chamber
• Regional Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Italy
    • Netherlands
    • Spain
    • Sweden
  • Asia Pacific
    • China
    • Japan
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • South Africa

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The Empty 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 Empty IV Bags market for the base year 2020 and the forecast between 2021 and 2028. 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 Empty IV Bags market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Empty 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 Empty 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 Empty 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 Empty 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 Empty IV Bags market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. 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 Empty IV Bags market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Empty 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 Empty 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.

The Empty 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 Empty 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 Empty 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 Empty IV Bags market. These factors have benefited the growth of the global market for Empty 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 Empty 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 Empty IV Bags are as follows:

• Historic Year: 2017-2020
• Base Year: 2020
• Forecast Year 2021 to 2028

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

Research Methodology:

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

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.

Primary Sources

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:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.