The IV bags market, valued at US$1.89 billion in 2022, is poised to witness a robust compound annual growth rate (CAGR) of 10.9% over the next decade. The increasing demand for advanced IV containers and the emphasis on preventative measures against issues like incorrect dose delivery are key factors propelling this growth. Analysts predict that by 2032, the market will soar to a value of US$5.31 billion.
Traditionally, IV bag manufacturing facilities have been concentrated in major markets like Europe and North America, driven by proximity to customers and compliance with local regulations. However, some companies have shifted production to developing countries to capitalize on lower labor costs and tap into expanding markets. Nonetheless, challenges related to quality concerns and logistical issues have emerged over time. As a response, industry leaders are now reevaluating their strategies in light of emerging trends.
IV bag manufacturers are embracing a data-driven approach to optimize their manufacturing and distribution networks. Successful network optimization not only leads to cost savings and reduced delivery times but also enables strategic evaluation of operational models for 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 thrive 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 adopt a new operating model focused on consumer proximity and intelligent productivity improvements. Additionally, relevant consumer marketing and omnichannel selling will take precedence. These changes create opportunities for both established companies and startups to expand their customer bases and revenue streams.
Request Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-3580
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.
Request Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-3580
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
Ask an Analyst @ https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-3580
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
LinkedIn| Twitter| Blogs
