Empty IV Bags Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Empty IV Bags Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Report Digest
Global Empty IV Bags Market: Overview
To enhance the environmental-friendliness, governments are banning the application of phthalate IV bags as much as possible. However, the bans are aimed to reduce the impact of the phthalate IV bags and cautiously take the well-being of the patients under consideration. These bans, for instance, the one posed by Denmark Health Commission on application of (2-ethylhexyl) phthalate (DEHP), Dibutyl Phthalate (DBP), have stimulated IV bags manufacturers to produce eco-friendly bags. As a result, the demand for non-PVC IV bags has risen atan accelerated pace. This surging demand for bio-degradable IV bags is the major reason for growth of the global empty IV bags market.
A report from TMR Research encapsulates similar factors that are responsible for growth of global empty IV bags market in the forecast period of 2018 to 2028. The report offers an in-depth analysis of the market covering essential facets such as notable developments, key players, and challenges in the market.
Global Empty IV Bags Market: Notable Developments and Competitive Landscape
Being highly competitive, the global Empty IV bags market is dominated by few prominent players. This results in moderately consolidated landscape and is luring new players. However, getting established themselves in market is not as simple as it appears for the new comers.Companies like B.Braun Melsungen AG, Baxter international Inc., Hospira Inc., West Pharmaceutical Services Inc., have significant dominance over the market based on their technical expertise and wide range of resourceswhich makes it is tough for the new players to compete with them.
The sustainability of the new players is expected to be backed by strategies such as partnerships and collaborations. With the help of these strategies, the new comers can acquire necessary resources better production and greater sales. Moreover, with the help of these strategies the players can also leverage the technology of partnered organization which can further boost their position in global empty IV bags market.
On the other hand, veterans of the market are strengthening their position by acquiring small and medium scale businesses. This strategy allow the players to expand their production capacity, technological expertise, and product portfolio in multiple domain of the market. This further allows the players to boost their profit quotient and achieve a noteworthy position in the market.
- In 2019, Scripps Health Announced to acquire ICU Medical, Inc. The acquisition allowed the company to take-over the IV consumables and solutions of ICU Medical which allowed the company to expand its portfolio of IV bags and other associated solutions. As a result of this acquisition, the Scripps health is expected to account for a staggering 36% share of global empty IV bags market in the forecast period of 2018 to 2028.
Global Empty IV Bags Market: Key Drivers
Ban of PVC IV Bags Boosts Growth
Since majority of countries have banned the use of the PVC IV bags to reduce their adverse effect on environment, the demand for eco-friendly IV bags has raised significantly in past few years. The demand for these IV bags are majorly from the specialty hospitals which deals with surgery of gall bladder, kidney stones, and intestine infections. This hiked demand for eco-friendly IV bags has surged the growth of global empty IV bags market in the forecast of 2018 to 2028.
Favorable Reimbursement Policies
Government agencies like Centers for Medicare & Medicaid Services (CMS) offer flexible reimbursement policies that covers surgeries involving IV bags in the procedures. Moreover, agencies of other countries have reimbursement plans in their clause for the surgeries that requires IV bags. These policies are fueling the sales of IV bags across the globe which as result is increasing the growth of global empty IV bags market.
Rising Prevalence of Cancer
Cancer treatment deprives human body from nutrition. . Moreover, it also impacts the human body by creating physical obstructions, dysfunction of GI tracks, and ulcers generation. All of these restrict the body to extract nutrition naturally from the food. As a result, they have to be injected externally. Since cancer has grown in prevalence over past few years, the demand for IV bags has also spiked exponentially. This is yet another reason that is expected to boost growth of global empty IV bags market in the forecast period
Global Empty IV Bags Market: Regional Analysis
North America is expected to witness a maximum growth in empty IV bags market during the projected period. The adoption of empty IV bags in region is highs as a result of growing acceptance of innovative technologies, high disease prevalence, improved government investments to enhance the healthcare infrastructure, and flexible reimbursement policies. Moreover, growing geriatric population in the region is another factor that is promoting its dominance in empty IV bags market.
The global empty IV bags market is segmented on the basis of:
Product Type
- PVC Empty IV Bags
- Non-PVC Empty IV Bags
- Polypropylene (PP)
- Copolyester Ether (COPE)
- Ethylene-vinyl acetate (EVA)
- Others
The study presents a granular assessment and quantitative evaluation of:
- Key growth factors and prominent trends
- Size and share of key segments in overall market
- Key challenges and winning imperatives
- Factors shaping competitive landscape
- Insights into how contours of market will change in coming years
- Technological advances
- New avenues and imminent investment pockets
- Regulatory landscape shaping current and future strategies of companies
The region-wise assessment includes market dynamics in:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
- Which key factors will shape the competitive landscape?
- Which trends will stimulate research and development activities in different geographies?
- Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
- Which disruptions in market growth are likely to come with the new business models?
- Which are some of the recent overhauls in policies that may change the course of the market significantly?
- Which are the geographies that will form sizable sources of new streams to new and established players alike?
- How are top players likely to realign their strategy to counter the forces of competition?
- Which key strategies emerging players are likely to focus on to consolidate their position?
- Which changes in end-user preferences might affect the status quo held by the leading players?
- Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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