by The Non-PVC IV Bags Market is estimated to be valued at US$ 2164.96 Mn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Non-PVC IV bags are medical packaging solutions used for administering infusion therapies such as total parenteral nutrition, electrolyte balance, medicines and fluid therapies. These bags are manufactured using materials such as ethyl vinyl acetate, polyolefin and polypropylene which are safer, environment-friendly and provide a better alternative to PVC-based IV bags. They are used widely across hospitals, clinics and long-term care facilities.
Market Dynamics:
One of the major drivers for the non-PVC IV bags market is the rising awareness about health hazards of PVC based products. PVC contains phthalates which can leach into solutions stored and administered in IV bags. This leaching of phthalates has raised safety concerns regarding prolonged exposure especially for neonates and long term care patients. In addition, growing focus on environmental sustainability is also fueling the demand for non-PVC alternatives as PVC production and disposal is linked to emission of hazardous pollutants. Moreover, stringent regulations imposed on use of phthalates in medical products across regions such as Europe and North America is further propelling the demand for non-PVC IV bags over the forecast period.
Segment Analysis
The non-PVC IV bags market can be segmented into chambers and valves. The chambers segment dominates the market due to high usage of chambers in IV bags for administering fluids like normal saline solution. Chambers provide an expandable space inside IV bags to hold and infuse fluids intravenously into patients.
PEST Analysis
Political: Regulations regarding use of non-toxic materials in medical products are encouraging manufacturers to adopt non-PVC materials for IV bags.
Economic: Growing healthcare spending is increasing demand for IV therapy equipment like non-PVC IV bags from hospitals and clinics.
Social: Rising prevalence of chronic diseases requiring IV supplementation is driving uptake of non-PVC alternatives to PVC bags.
Technological: Advances in developing non-PVC materials like polyolefins providing barrier properties comparable to PVC while being non-toxic.
Key Takeaways
The global Non-PVC IV Bags Market Share Size is expected to witness high growth, exhibiting CAGR of 9.5% over the forecast period, due to increasing prevalence of chronic diseases. The market size for 2023 is estimated to be US$ 2164.96 Mn. North America dominates the market currently due to advanced healthcare infrastructure and rising healthcare spending in the region. Key players operating in the non-PVC IV bags market are Renolit SE, Kraton Corporation, Shanghai Solve Care Co., Ltd., Shanghai Xin Gen Eco-Technologies Co., Ltd., PolyCine GmbH, Jiangxi Sanxin Medtec Co., Ltd., Sealed Air, Baxter, B. Braun Melsungen AG, Sichuan Kelun Pharmaceutical Co., Ltd., Fresenius Kabi AG, Otsuka Holdings Co., Ltd., Sartorius AG, Technoflex, and Huaren Pharmaceutical Co., Ltd. The major players are focusing on new product launches and expansion strategies to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
