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In May 2019, B. Braun Melsungen AG announced $1 billion investment in new and enhanced IV therapy manufacturing facilities in the U.S healthcare system. Intravenous (IV) fluid bags are used for delivering medications intravenously for various chronic disorders such as cancer, diabetes, kidney diseases, etc. Intending to avoid hospital-acquired infections, cross-contamination and to reduce costs associated with the healthcare, end-users are increasingly adopting disposable IV fluid bags. They are also gaining popularity in blood bank centers to meet emergency blood infusion requirements and also to treat various blood-borne diseases. Also, IV fluid bags manufacturers are making PVC-free bags made of non-latex components to deliver IV fluids safely and accurately. These fluid bags can also be used for storing cold, frozen, and customized mixtures. Therefore, increasing number of innovations and growing preference of IV fluid bags over traditional IV bags are some of the factors that are anticipated to boost the market growth in the upcoming years.
Key Market Driver -
Rising prevalence of chronic disorders, increasing geriatric population
Key Market Restraint -
Health risks associated with IV fluid bags
Rising prevalence of chronic disorders (diabetes, cancer), growing geriatric population, widespread availability, and affordability of IV fluid bags are some of the factors that are driving the market growth. According to the World Health Organisation, approximately 18.1 million new cancer cases were reported globally in 2018.
However, side effects associated with the use of IV fluid bags such as irritation or swelling where the fluid was given, intense competition and pricing pressure among the key market players are some of the factors expected to hamper the growth of IV Fluid Bags market.
By fluid type, the market can be segmented into normal saline, dextrose, ringer’s lactate, vitamins, and others. By application, the market can be segmented clinical and wellness. Wellness is further segmented into immunity, hangover treatment, athletic performance improvement, and others. By end users, the market is segmented into hospitals, hydration centers / clinics, and home care settings.
Geographically, the IV fluid bags market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The major companies in the global IV fluid bags market report includes B. Braun Melsungen AG, Baxter, ICU Medical Inc., Sippex IV bag, Fosmo Med, Fresenius Kabi AG, Polifarma, and other prominent players.
The global IV Fluid Bags market is expected to be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to lead the global IV Fluid Bags market due to an increasing prevalence of chronic disorders (diabetes, cancer) in the U.S. According to the American Diabetes Association, in 2015, 30.3 million Americans or 9.4% of the population had diabetes. Also, the availability of improved healthcare facilities and research and development in IV fluid bags are responsible factors for dominance.
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The market in Europe is likely to have substantial market growth throughout the forecast period owing to the rising geriatric population, and growing innovations in IV fluid bags by the key market players. Asia Pacific and Latin America are expected to register a fast market growth during the forecast period due to the increasing number of chronic disorders, and increased government initiatives for increasing awareness regarding occurrences of chronic disorders.
By Fluid Type
By End User
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