by The global empty IV bags market has been gaining traction over the recent past owing to rising instances of chronic diseases such as cancer that require intravenous therapy for the administration of drugs, fluids or blood products. Empty IV bags are medical devices that are used for administering fluids, medications, and blood products intravenously to patients. They find widespread application in oncology, gastroenterology, anesthesia, and clinical nutrition among others. Empty IV bags provide many advantages over traditional glass bottles such as greater safety due to less risk of breakage, ease of handling and storage, and enhanced portability. With rising preference for single-use disposable medical devices, empty IV bags have emerged as a more convenient option for intravenous drug delivery. The Global empty IV bags market is estimated to be valued at US$ 8.9 BN in 2024 and is expected to exhibit a CAGR of 9.0% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the global empty IV bags market are POLYCINE GmbH, BAUSCH Advanced Technology Group, BD, Baxter, B. Braun Medical Inc., ICU MEDICAL, INC., Wipak, RENOLIT SE, TECHNOFLEX, Sippex IV bags, JW Life science Corp, and Fresenius Kabi AG. These established players are focusing on new product launches and partnerships to strengthen their market position.
Some of the key opportunities in the market include rising demand for custom-made Global Empty IV Bags Marketas per the requirement of different therapies and investments in advanced IV bag manufacturing technology. With advancements in material science, multilayer co-extruded films and flexible packaging formats are gaining popularity for empty IV bags over conventional PVC materials due to superior barrier properties and compatibility with varied drug formulations.
Technological advancements such as anti-reflux ports, tear-off tabs, roll-on hangers for added convenience of usage, and customized sizes are expected to drive the demand for empty IV bags.
Market Drivers
The primary driver propelling the growth of empty IV bags market is the rapidly growing prevalence of chronic and life-threatening diseases coupled with rising elderly population worldwide. Additional factors such as increasing healthcare spending, robust R&D investments by key players, and healthcare modernization in developing economies are augmenting the market expansion. Growing awareness about the merits of IV drug delivery such as precise dosing and control over administration time are also catalyzing the product adoption. Expanding applications in therapeutic areas beyond oncology and advancement in modified large volume parenteral packaging further provide growth opportunities.
Current Challenges in Global Empty IV Bags Market
The empty IV bags market is facing several challenges currently which includes shortage of raw materials, disruptions in supply chain due to Covid pandemic, and high production costs. Raw material prices have been fluctuating drastically in recent times making production planning difficult for manufacturers. The pandemic severely impacted the availability of raw materials and labor force needed for manufacturing empty IV bags. It also led to disruptions in transportation and distribution networks globally. Operating under necessary safety protocols to curb the spread of virus has also added to production costs.
SWOT Analysis
Strength: Wide applications in delivering fluids, nutrients, blood components and medication intravenously. Clear material allows visual inspection of contents.
Weakness: Single use increases medical waste. Plastic material raises environmental concerns. Vulnerable to punctures and leaks.
Opportunity: Growing healthcare spending and increasing prevalence of chronic diseases boosting demand. Technological advancements facilitating development of innovative bag designs.
Threats: Stringent regulatory approvals for new products. Threat of substitutes like pre-filled IV containers. Price pressures from low-cost producers.
North America holds leading share in global empty IV bags market in terms of value.
North America accounted for over 35% share of the global empty IV bags market in 2024, driven by high healthcare spending, presence of leading manufacturers, and growing disease burden. The US dominated the regional market owing to rising hospitalization rates and expanding pharmaceutical industry.
Asia Pacific projected to emerge as fastest growing region during the forecast period from 2024 to 2031.
Asia Pacific empty IV bags market is estimated to expand at a CAGR of over 11% during the forecast period. Factors such as improving access to healthcare, increasing healthcare investments, expanding pharmaceutical industry and technological advancements are fueling the regional market growth. China and India represent highly lucrative opportunities for empty IV bags manufacturers.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
