The global IV bags market, which was valued at US$1.89 billion in 2022, is projected to experience a compound annual growth rate (CAGR) of 10.9% over the next decade. The growth in this market is primarily fueled by the increasing need for preventative measures to address issues such as incorrect dose delivery and the rising demand for advanced IV containers. Analysts predict that by 2032, the IV bags market will reach a value of US$5.31 billion.
Manufacturing facilities for IV bags are typically located in major markets like Europe and North America, either to be closer to customers or to comply with local regulations. While some companies have moved production to developing countries to capitalize on lower labor costs and access expanding markets, they have faced challenges related to quality concerns and logistical issues over time. However, industry leaders are now reassessing their strategies in response to emerging trends.
IV bag manufacturers are adopting a methodical, data-driven approach to optimize their manufacturing and distribution networks. Successful transitions in network optimization can lead to significant cost savings and reduced delivery times, but the aim extends beyond financial benefits. It allows companies to strategically evaluate their operational models and gain a competitive advantage. Companies that fail to keep up with these transformations run the risk of falling behind.
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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 position their brands to align with disruptive trends. They will also embrace a new operating model focused on consumer proximity and intelligent productivity improvements, along with an approach that prioritizes relevant consumer marketing and selling across various channels. These changes present opportunities for both established companies and startups to expand their customer bases and revenue streams.
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
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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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