Pune, India, Oct. 13, 2021 (GLOBE NEWSWIRE) — The global IV Fluid Bags Market size is set to gain traction due to increased prevalence of disease and rising geriatric population around the world, observes Fortune Business Insights™ in its report, titled “IV Fluid Bags Market-2021-2028”.
The IV is given to patients suffering from chronic diseases such as cancer, diabetes or a person going through any surgical procedure. Thus due to increased demand investors are investing in IV therapy. For instance, in May 2019, Braun Melsungen AG invested USD 1 billion for advanced IV therapy in the U.S. health infrastructure. These aforementioned factors are thus expected to drive the market during the forecast period.
List of Key Players in IV Fluid Bags Market:
- Braun Melsungen AG
- ICU Medical Inc.
- Sippex IV bag
- Fosmo Med
- Fresenius Kabi AG
The outbreak of the COVID-19 pandemic increased demand for IV therapies, as serious patients were given medications through IVs. In addition, increased plasma donation also increased its demand. However, the market suffered a moderate disruption, as non-emergency surgeries were at a halt. The market is expected to flourish in the upcoming years.
By fluid type, the market is segmented into normal saline, dextrose, ringer’s lactate, vitamins, and others. Based on application, it is segmented into clinical and wellness. By end-user, it is divided into hospital, hydration clinics, home care settings, and others. Lastly, in terms of geography, the market is categorized into North America, Europe, Asia Pacific, Latin America and the Middle East & Africa.
To get to know more about the short-term and long-term impact of COVID-19 on this market,
The report aims to analyze the industry by considering contributions, prospects, and growth trends. It presents detailed profiles of every key player operating in the market to analyze their core competencies in each segment. Apart from that, it ensures to help our clients better understand the competitive developments, such as mergers & acquisitions, new product launches, joint ventures, and collaborations.
Drivers & Restraints
Increasing Prevalence of Chronic Diseases to Drive the Market
The rising prevalence of diseases is anticipated to drive the IV Fluid Bags Market growth. For instance, according to a report by the American Diabetes Association in the year 2015, around 30.3 million people in the U.S were suffering from diabetes. Additionally, the technological advancements and innovation done in the IV are also contributing to the market, as now PVC-free bags are used. The new IV bags are made of non-latex materials, and these are safe and are more accurate as compared to the PVC ones.
On the other hand, the risk of several other infectious diseases associated with IV is the major market constraint.
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North America to Dominate Backed by Rising Number of Population
North America is expected to hold the highest IV Fluid Bags Market share due to the large population in the region suffering from chronic diseases, such as cancer, diabetes, and kidney disease. For instance, as per the CDC report, nearly 4.9 million adults in the U.S are diagnosed with kidney stones.
Europe is also expected to dominate the market due to favorable reimbursement policies launched by the government and the presence of prime healthcare infrastructure in the region.
Key Players to Focus on New Launches to Intensify Competition
The market is consolidated by the presence of major companies that are striving to maintain their position by focusing on new launches. For instance, in July 2019, Baxter launched Myxredlin. It is U.S FDA approved and first and only ready to use insulin IV infusion. Moreover, other key players are adopting proactive strategies such as mergers, and facility expansion to favor the market’s growth in the forthcoming years.
- June 2019:Eurolife Healthcare based in India launched high quality Intravenous IV products – Discport and Lifeport. These are smart intravenous infusion made with the best of the latest technology. These reduces the chances of any infections apart from ease of use.
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