The IV bags market, which had a value of US$1.89 billion in 2022, is projected to grow at a compound annual growth rate (CAGR) of 10.9% over the next decade. The increasing demand for advanced IV containers and the need for preventative measures against issues like incorrect dose delivery are driving this growth. Analysts predict that by 2032, the market will reach a value of US$5.31 billion.
Traditionally, IV bag manufacturing facilities are located in major markets such as Europe and North America, either to be closer to customers or comply with local regulations. Some companies have shifted production to developing countries to take advantage of lower labor costs and tap into expanding markets. However, they have faced challenges related to quality concerns and logistical issues over time. As a result, industry leaders are now reevaluating their strategies in response to emerging trends.
IV bag manufacturers are adopting a data-driven approach to optimize their manufacturing and distribution networks. Successful network optimization can lead to cost savings and reduced delivery times, but the goal extends beyond financial benefits. It allows companies to strategically assess their operational models and gain a competitive advantage. Failing to keep up with these transformations poses a risk of falling behind.
The IV bag sector is recovering from the disruptions caused by the COVID-19 pandemic. To succeed in the 2020s, IV bag companies are expected to make strategic decisions that strengthen their portfolios and align their brands with disruptive trends. They will embrace a new operating model focused on consumer proximity and intelligent productivity improvements. Additionally, they will prioritize relevant consumer marketing and selling across multiple channels. These changes create opportunities for both established companies and startups to expand their customer bases and revenue streams.
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Key Takeaways:
- The global IV bags market is expected to grow at a CAGR of 10.9% over the next decade, reaching a value of US$5.31 billion by 2032.
- IV bag manufacturers are reevaluating their strategies and optimizing their supply chains to balance cost savings, quality, and accessibility to target customers.
- Successful network transitions can result in up to 15% cost savings and reduced delivery times.
- Companies that adapt to emerging trends and disruptive forces will gain a competitive advantage and expand their customer bases and revenue streams.
Global IV Bag Market: Key Players
Some key players of IV bag market are Mountainside Medical Equipment, Kraton Performance Polymers Inc., Renolit, Angiplast Pvt. Ltd, Medline Industries, Inc., Baxter, Sippex IV bag, Wipak Group Management, B. Braun Medical Inc., ICU Medical, Inc., Guangdong lejin medicine Co.,Ltd, Fresenius Kabi Group.
IV Bag Market Overview
Integrity and high performance quality are necessary features for products supplied in the parenteral packaging market. The global IV bags market has emerged as a key market segment in the parenteral packaging market and is marked by supply of plastic materials used for intravenous therapy with principal application in hospital care.
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Patients suffering with diarrhea and fever are prone to experience low electrolyte levels, which causes moderate or severe case of dehydration, especially in children. IV bags are used in intravenous therapy for curing or rehydrating the patient. IV bags are also useful for delivering medications and for blood transfusion directly to veins.
IV bag market can be segmented by the type of material used and by the end use and by capacity.
Based on the type of material used, IV bag market can be segmented into:
- PVC
- Ethylene vinyl acetate
- Polypropylene
- Copolyester ether
Based on the type of end use, IV bag market can be segmented into:
- To correct electrolyte imbalances
- To deliver medications
- Blood transfusions
- Blood Storage
Based on the size, IV bag market can be segmented into:
- 0 – 250 ml
- 250 – 500 ml
- 500 – 1000 ml
Regionally global IV bag market is segmented into
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia-Pacific excluding Japan (APEJ)
- Middle East & Africa (MEA)
- Japan
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