15-Oct-2018 | Zion Market Research
Zion Market Research has published a new report titled “Medical Fluid Bags Market by Product (Blood Bags, Intravenous Bags, Drain Bags, Enema Bags, Biohazard Disposable Bags, Breast Milk Bags, Reagent Bags, and Dialysis Bags), by Material (PVC Compounds, Polyolefins, Thermoplastic Elastomers, and Thermoplastic Polyurethanes), by End-Use (Hospital & Clinics, Blood Banks, Homecare Settings, and Diagnostic Centers): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 - 2024”. According to the report, global medical fluid bags market was valued at approximately USD 2.44 billion in 2017 and is expected to reach around USD 3.71 billion by 2024, growing at a CAGR of 6.72% between 2018 and 2024.
The inpatient hospital care has shown remarkable growth over the past decade. Inpatient care is the care of patients whose condition requires admission to a hospital. During the hospital stay often there is a need for fluid replacement therapy. This therapy is carried out to provide proper body fluid collection and maintain the nutrition status of the patient. In this type of therapy, medical fluid bags play a vital role; the bags are becoming an essential part of inpatient care. These are used to collect body fluids and maintain the body’s nutrition status through oral or enteral routes. Apart from use in hospital care, these bags are also used in dialysis, biohazard disposal, blood transfusion, and blood storage facilities. Owing to the large-scale use of medical fluid bags in different medical sectors the global medical fluid bags market has shown a positive industrial growth in recent years.
Browse the full "Medical Fluid Bags Market by Product (Blood Bags, Intravenous Bags, Drain Bags, Enema Bags, Biohazard Disposable Bags, Breast Milk Bags, Reagent Bags, and Dialysis Bags), by Material (PVC Compounds, Polyolefins, Thermoplastic Elastomers, and Thermoplastic Polyurethanes), by End-Use (Hospital & Clinics, Blood Banks, Homecare Settings, and Diagnostic Centers): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 - 2024" report at https://www.zionmarketresearch.com/report/medical-fluid-bags-market
Rising prevalence of chronic diseases such as heart, kidney, liver disorders, cancer, and diabetes worldwide is one of the key factors for medical fluid bags market growth. Soaring incidences of gastrointestinal diseases among elderly population such as bowel obstruction, gastroschisis and the stipulated demand for medical fluid bags for patient care and disease management are some other factors driving the growth of medical fluid bags market. Chronic diseases require long-term hospitalization, which, in turn, facilitates administration of medicine, drugs, and nutrition by infusion, and intravenous therapy. The growing patient pool around the world undergoing surgical procedures for the treatment of various chronic diseases will boost the medical fluid bags market growth during the forthcoming years.
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. Fluid bags manufactured from these materials emit cancer causing toxic materials that are harmful to humans as well as environment. Moreover, the release of Di(2-ethylhexyl)phthalate during medical procedures such as hemodialysis and administration of IV fluids might hinder the industry growth to some extent. 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 the product type, the global medical fluid bags market is segmented into drain bags, blood bags, breast milk bags, dialysis bags, intravenous bags, enema bags, reagent bags, and biohazard disposable bags. Among these, drain bags segment dominated the medical fluid bags market in 2017 and is expected to lead the market owing to its wide applications in various medical treatments and surgical procedures. The demand for blood bags in blood banks, hospitals, diagnostic labs is expected to poise the growth of blood bags segment in the coming years. Breast milk bags was the fastest growing segment due to the increasing birth rate and rising number of working women.
On the basis of material type, the market is divided into PVC, thermoplastic polyurethanes, elastomers, and polyolefins. Among these, the thermoplastic elastomers segment was the major revenue grossing segment in 2017. The end-user segment includes hospital & clinics, blood banks, homecare settings, and diagnostic centers. Blood banks segment was the leading segment in end-users and held the dominant share in terms of revenue in 2017. According to the WHO (World Health Organization), 112.5 million blood donations are collected globally. Escalating demand for blood bags in blood transfusion, chemotherapies, and growing number of blood banks in developed as well as developing countries is expected to drive the blood bank segment in the future.
Based on the geography, the global medical fluid bags market is divided into five regions North America, Europe, Asia Pacific, Latin America, and Middle East Africa. North America dominated the global medical fluid bags market in 2017. The United States was the leading market in North America. Europe was the second largest market in terms of revenue generation followed by the Asia Pacific. Asia Pacific turned out to be the fastest growing market with highest CAGR. The Middle East and Africa and Latin America are expected to experience a moderate 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, MacoPharma, Pall Corporation, Westfield Medical,Amsino,Coloplast, Renolit, C.R.Bard, Thermo Fisher,Sippex, Smiths Medical, Technoflex, ConvaTec, among others.
This report segments the global medical fluid bags market as follows:
Global Medical Fluid Bags Market: Product Segment Analysis
Global Medical Fluid Bags Market: Materials Segment Analysis
Global Medical Fluid Bags Market: End-user Segment Analysis
Global Medical Fluid Bags Market: Regional Segment Analysis
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