Empty IV bags are sterile containers used for the administration of intravenous fluids, electrolytes, and medications to patients. Made from medical-grade PVC or copolymers, IV bags have chambers to hold the IV fluids and spike connectors for adding medications. The global empty IV bags market is driven primarily by the rising prevalence of chronic diseases resulting in higher hospitalization rates and increasing demand for IV fluid therapy procedures.
The Global Empty IV Bags Market is estimated to be valued at US$ 8.9 BN in 2024 and is expected to exhibit a CAGR of 9.0% over the forecast period 2024 to 2031. Key players operating in the global empty IV bags market are POLYCINE GmbH, BAUSCH Advanced Technology Group, BD, Baxter, B. Braun Medical Inc., ICU MEDICAL, INC., Wipak, RENOLIT SE, TECHNOFLEX, Sippex IV bags, JW Life science Corp, and Fresenius Kabi AG.
Key Takeaways
Key players: POLYCINE GmbH is a leading supplier of IV fluid bags while Baxter and B. Braun hold the major market share. BD is expanding its product portfolio through acquisitions.
Growing demand: Rising cases of chronic diseases like cancer, diabetes requiring longer hospital stays and IV therapy are driving market growth. The COVID-19 pandemic also increased demand for Global Empty IV Bags Market.
Global expansion: Major players are investing in developing economies to tap higher growth opportunities. Companies are also focusing on single-use empty IV bags with anti-microbial technology for international markets.
Market Key Trends
Single-use empty IV bags are the major trend in the industry. They help prevent infections and are more cost-effective for hospitals compared to multi-use bags. Companies are developing advanced IV bags made from novel materials offering anti-microbial properties, UV protection, and compatibility with a wide range of drugs and fluids. Manufacturers are also focusing on customizable IV bags tailored to the needs of specific therapies and treatments.
Porter’s Analysis
Threat of new entrants: Low barrier for new manufacturers due to availability of raw materials. Bargaining power of buyers: Large number of buyers in healthcare sector puts pressure on manufacturers for competitive pricing.Bargaining power of suppliers: High switching costs for suppliers since raw materials require strict quality standards.Threat of new substitutes: Limited threat with no major substitute products for IV bags being used in hospitals. Competitive rivalry: Strong as major players compete on product quality, reliability and pricing.
The global empty IV bags market in terms of value is highly concentrated in North America. This is attributed to rising prevalence of chronic diseases, technological advancements in intravenous therapies and growing healthcare expenditure in the US and Canada. Another major region where market holds high concentration is Western Europe due to expanding medical facilities, growing elder population and public healthcare coverage across major countries like Germany, UK, France and Italy.
The fastest growing region for global empty IV bags market is Asia Pacific excluding Japan. This is owing to increasing investments by key players, rising medical tourism, growing incidence of lifestyle diseases and expanding base of private hospitals and clinics in China, India and other developing nations. Transition of healthcare infrastructure from unorganized to organized sector along with rising disposable incomes also supports market growth in Asia Pacific region over forecast period.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it