IV Bags Market
In its recent study, Transparency Market Research (TMR) offersinsights into the global IVbags market. According to the study, the market is forecast to rise at 5.8%between 2020 and 2032. The increasing adoption of injection-based therapies invarious treatment modalities has been fuelling the demand for IV bags.According to TMR, among applications, injection-based therapies are likely tocreate incremental opportunity of more than 1.5 Bn between 2020 and 2032. IVbags sales will surge further, spurred by the demand from parenteral nutritionplayers and intravenous therapy providers.
Among various types of bags available, single chamber IV bags morepreferred. To identify hidden opportunities, TMR segments the market in termsof material type, capacity, chamber type, and application across five keyregions. According to the report, polypropylene material for IV bags isexpected to hold the dominant share in the market since these bags areavailable at a low cost and they offer better puncture resistance anddurability.
Material Innovations Hold Key to Success
Ardebil’s Arta Serum Company partnered with Barekat Foundation tomanufacture a new generation of IV fluid bags, which can better preventabsorption or discharge of serum through the walls of the bags. Traditionalbags were known to absorb almost 30% of the medication in the solution. Itincurs huge loss in case of cancer medication, which is both costly and rare.Producers claim that the new generation IV bags can overcome all deficienciesof existing plastic packs. Therefore, innovation, in terms of materials used,are expected to offer lucrative opportunities for growth of the market.
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Convenienceat the Core of Innovation
Some of the leadingmanufacturers across the world are focusing on product innovation, with theirkey objective being ensuring improved convenience. Fresenius Kabi’s new non-PVCintravenous fluid and drug combination delivery system exemplifies the same.Known as FreeFlex, these delivery systems are designed to improve consumerexperience and offer extended pH interval and drug compatibility.
More importantly, these bagsare environment-friendly and have easy-to-peel overwrap. They are available insizes ranging from 50 ml, up to 1000 ml andmore importantly they are free from any synthetic additive, glue, and PVC.Along with these attributes, these new generation bags are tamper-proof andoffer better protection against airborne contamination.
The market is expected towitness similar innovations especially since several other manufacturers areaiming at improving features of their IV bags to gain competitive advantage inthe market.
Incompatibilityof IV Bags with Certain Biological Compounds
Risk of potentialincompatibility between the solutions with the container poses threat to themarket players. Often, solutions contained inside an IV bag can react to materialsused for making the bag, causing imbalance or disruption in the pH value of thesolution. Such incompatibilities can cause either physical or chemicalreaction, with the latter being more harmful, as it increases the chances ofproducing toxic by-products.
For instance, as per anindependent study, diazepam injection into plastic IV bags resulted in the lossof potency of the solution by more than 24%. Therefore, it wasrecommended that glass containers should be used to administer diazepam. Once established,such results are anticipated to hamper the growth of the global IV bags market.
IVBags: Competitive Landscape
The presence of establishedcompanies as well as several smaller and local players has rendered the globalIV bags market highly fragmented. TMR finds that larger percentage of theoverall market share is currently held by local and domestic companies. Tostudy the nature of competition prevailing in the market, TMR has profiledcompanies such as B. Braun Melsungen AG, Baxter International Inc.,Pfizer Inc, Wipak Group, Technoflex S.A, Fresenius SE & Co KGaA, Sippex,Polycine GmbH, Kraton Corporation, The Metrix Company, Medicopack A/S,Macopharma SA, Haemotronic S.p.A., Renolit Solmed, Otsuka PharmaceuticalIndia Private Limited, Alfa Laboratories, Qosina Corporation, ICU Medical,Inc., JW Life Science and Angiplast Pvt. Ltd.
It has further classifiedthe company in different tiers to study their competitive strengths. Forinstance, companies such as B. Braun Melsungen AG, Baxter International Inc.,Kraton Corporation and Fresenius SE & Co KGaA are identified as Tier 1 players.These companies primarily focus on the expansion of their production capacity.In order to strengthen their footprint, they also are likely to acquire localplayers. Likewise, some of the companies included in Tier 2 areRENOLIT Group, Terumo Corporation, and ICU Medical, Inc.
GlobalIV Bags Market Segmentation
IVBags Market by Material Type
· Polypropylene
· Polyvinyl Chloride
· Polyethylene
· Others (Copolyester Ether& EVA)
IVBags Market by Capacity
· 0-250 ml
· 250-500 ml
· 500-1000ml
· Above 1000 ml
IVBags Market by Chamber Type
· Single Chamber
· Multi Chamber
IVBags Market by Application
· Parenteral Nutrition
· Intravenous Therapies
IVBags Market by Region
· North America
· Latin America
· Europe
· South Asia
· East Asia
· Oceania
· Middle East & Africa(MEA)
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