23-Jun-2022 | Zion Market Research
The global medical fluid bags market was worth around USD 3.25 billion in 2021 with a compound annual growth rate (CAGR) of approximately 6.4 percent over the forecast period.
Medical fluid bags play an extremely critical role in the healthcare sector and it is imperative that the contents of the bags remain contamination-free by maintaining the highest safety standards during the entire cycle of production, transportation, and storage of these bags. Medical fluid bags are specially designed for the proper storage of various body fluids like colloids, crystalloids, and blood products.
The global medical fluid bags marked a significant growth because of the outbreak of Covid-19 due to increased medical cases and simultaneous requirement of medical fluid bags. However, due to supply chain disruption and an initial shortage of products during the initial phase of Covid-19, the global market witnessed some setbacks. However, with the eventual easing of transportation regulations and increased production of medical fluid bags, the global market is expected to grow significantly during the forecast period.
The world is witnessing a rise in the number of medical admissions. There is a considerable rise in chronic diseases, accident cases due to human error or natural disaster, and kidney-related problems requiring regular dialysis. The growth in number of patients requiring blood transfusion has also grown immensely in the last few years. All of these reasons are expected to propel global market growth. In order to avoid hospital-acquired infections, as well as to reduce the overall cost of healthcare, there has been a rising prevalence of adopting disposable IV bags amongst end-users. The same trend has been observed in blood banks given the operational and cost-effectiveness of disposable IV bags, which are used in blood transfusion to prevent various blood-borne infections. This shift in preference is projected to aid the global medical fluid bags market expansion in the future. Key market players are now working extensively on innovating newer and better medical fluid bags to meet the growing demands, for example, manufacturing of PVC-free bags which are made up of non-latex components and can be used for frozen, customized, or cold medical components. There is also a surge in the number of blood-donation activities across the globe aided by raising awareness of blood donation benefits along with government and private sector initiatives. Given the immense attention the global market is getting, it is projected to mark significant growth revenue during the forecast period.
Some of the health hazards associated with components used in the manufacturing of medical fluid bags may impede the global market growth. However, increasing the use of eco-friendly materials for the manufacturing of medical fluid bags will provide better growth opportunities for global market expansion. But there may be some challenges arising due to stringent regulatory approvals for the manufacturing of medical fluid bags.
The global medical fluid bags market is categorized into product type, material, end-user, and region. Based on product type, the market is categorized into intravenous bags, blood bags, dialysis bags, and others. The material segment of the market is bifurcated into polyolefins, PVC compounds, and others. The end-user segment is further divided into ambulatory surgical centers, hospitals, blood banks, diagnostic laboratories, and others.
Asia-Pacific is expected to dominate the global medical fluid bags market owing to the increasing population and the number of medical cases in the region. Growing awareness about the benefits of blood donation along with increased government initiatives towards educating the population about chronic diseases is expected to aid the regional market growth. Asia Pacific is also becoming a preferred region to set up manufacturing units given the availability of raw materials, skilled & cost-effective human resources, and government programs to attract foreign manufacturers.
North America and Europe are expected to contribute significantly to the global market because of high disposable income, advanced healthcare facilities, a rise in the number of diabetic & anemic patients, and the presence of influential market players in these regions.
Major players operating in the global medical fluid bags market include Baxter International, B. Braun Medical, C.R. Bard (Becton, Dickinson, and Company), Terumo Corporation, Coloplast, Fresenius Kabi, Pall Corporation, ConvaTec, Renolit, Maco Pharma, Smiths Medical, Technoflex, and Thermo Fisher Scientific
Browse the full “Medical Fluid Bags Market By Product Type (Blood Bags, Intravenous Bags, Dialysis Bags, And Others), By Material (PVC Compounds, Polyolefins, And Others), And By End-User (Hospitals, Diagnostic Laboratories, Blood Banks, Ambulatory Surgical Centers, And Others), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/medical-fluid-bags-market
Global medical fluid bags market is segmented as follows:
By Product Type
By End User
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