Medical Fluid Bags Market
Medical fluid bags are specialized bags which are widely used in critical patient care. Thousands of individuals living with serious diseases rely on collection bags and fluid pouches as a part of their everyday lives. These bags help patients who have gone through a surgery or suffering from some serious disorders. The bags are very useful in the management of various conditions such as blood transfusion, intravenous drug therapy, body fluid collection, etc.
The medical fluid bags market is expected to witness a robust growth in the near future. The market is mainly driven by the growing geriatric population and increasing prevalence of chronic diseases. Prevalence of chronic diseases such as heart diseases, diabetes, and cancer account for the high mortality rate across the globe. These chronic diseases lead to long-term hospital stays and require vital care during a hospital stay. Growing need for parenteral nutrition among the patients owing to the difficulty in swallowing is boosting the growth of the market. However, widespread use of polyvinyl chloride with Di(2-ethylhexyl)phthalate for manufacturing of medical fluid bags may hamper the market growth over the forecast period. Growing technological advancements in the production and design of polymer bags and pouches for a diverse range of medical applications are expected to offer lucrative business opportunities in the future.
On the basis of product type, the global medical fluid bags market is divided into drain bags, blood bags, breast milk bags, dialysis bags, intravenous bags, enema bags, reagent bags, and biohazard disposable bags. Among this drain, bags segment accounted for the major revenue share in 2017 followed by blood bags. Increasing demand for blood bags in blood banks and hospitals are expected to poise the growth of blood bags segment in the coming years. Breast milk bags were the fastest growing segment due to the increasing birth rate and rising number of working women.
The end-user segment includes hospital & clinics, blood banks, homecare settings, and diagnostic centers. The blood banks segment accounted for the maximum share of the total global medical fluid bags market and is expected to grow with the highest CAGR during the forecast period. The homecare settings and hospital & clinics segments were the fastest growing segments in 2017.
Based on the geography, the global medical fluid bags market is divided into five regions North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to remain as the dominant region in terms of revenue generation followed by Europe. The Asia Pacific was the fastest growing market with the highest year on year growth rate. The Middle East and Africa and Latin America are expected to experience slow growth in the medical fluid bags market in the years to come.
Some of the key players in medical fluid bags market include B. Braun, Terumo, Baxter, Fresenius Kabi, Hospira, Kawasumi Laboratories, Kraton, Maco Pharma, Pall Corporation, Westfield Medical,Amsino,Coloplast, Renolit, C.R.Bard, Thermo Fisher,Sippex, Smiths Medical, Technoflex, and ConvaTec, among others.