Market Trends of IV Bags Industry
Polypropylene Segment is Expected to Dominate the IV Bags Market
Polypropylene is a cost-effective medical-grade plastic material used where steam-sterilized medical devices are necessary. The advantages offered by polypropylene, such as resistance to steam sterilization and durability due to which it can be reused for several cycles, as well as its recyclability over other materials, make it an attractive medical-grade plastic for manufacturing IV bags.
The polypropylene IV bags segment is expected to witness significant growth over the forecast period owing to the increasing demand for polypropylene bags and the rising burden of chronic diseases. In addition, the advantages offered by polypropylene IV bags, such as being relatively inexpensive and possessing high flexural strength because of their semi-crystalline nature, moisture resistance, and good fatigue resistance, over other IV bags make it a more preferred choice for administering and storing IV fluids. Hence, it is expected to augment the segment growth.
Furthermore, the increasing focus of the companies to develop high-quality IV bags is anticipated to fuel the segment growth over the forecast period. For instance, in June 2022, Gufic Biosciences launched high-quality dual chamber polypropylene (DEHP free) bags with peelable aluminum foil. It allows the storage of unstable drugs, which need reconstitution just before administration to the patient. Also, in January 2022, ICU Medical acquired Smiths Medical from Smiths Group plc. The acquisition of Smiths Medical syringe and ambulatory infusion devices, vascular access, and vital care products to the ICU Medical portfolio created a leading infusion therapy company with a more robust global reach.
Therefore, the studied market is expected to grow over the forecast period due to factors such as the polypropylene bags' advantages and product launches.
North America is Expected to Hold Significant Market Share Over the Forecast Period
North America is expected to hold a significant market share in the IV bags market due to the increasing prevalence of chronic diseases, growing geriatric population, and rising healthcare spending. In addition, stringent regulations and policies towards patient care and safety and rising product launches in the region are also expected to boost the market growth over the forecast period.
The increasing burden of cancer among the population is the key factor driving the market growth. Cancer treatment deprives the human body of nutrition and affects the body by causing ulcers, gastrointestinal dysfunction, and physical blockages, necessitating the administration of parenteral nutrition to patients. For instance, according to 2023 statistics published by the American Cancer Society, about 19,58,310 new cancer cases are expected to be diagnosed in the United States in 2023, compared to 1,918,030 cases in 2022. Thus, the expected increase in cancer patients raises the demand for IV bags to administer sterile parenteral fluids to patients, propelling the market growth.
Additionally, organ transplantation procedures increase the need for infusing intravenous fluids during and after transplant surgery for the maintenance of intravascular volume and adequate perfusion of the kidney transplant. For instance, according to the 2023 data published by IroDat, about 5,862 kidney transplant procedures were recorded in the United States in 2022. Also, as per the above source, about 2,713 kidney transplant procedures were performed in Mexico in 2022, compared to 1,974 kidney transplants in 2021. Thus, the increasing number of transplant procedures in the region is expected to fuel the demand for IV bags for administering fluids, propelling the market growth.
Furthermore, the increasing product approvals and launches in the region are also expected to increase the availability of IV bags in the market, hence contributing to market growth. For instance, in February 2022, B. Braun Medical received the US FDA approval to begin operations at its new IV saline solution manufacturing facility in Daytona Beach, Florida. The facility spent USD 1 billion on its US manufacturing and supply chain to address shortages of IV fluids and is anticipated to produce 0.9% sodium chloride for injection.
Therefore, factors such as the rising burden of cancer, increasing kidney transplant procedures, and product approvals are expected to propel the growth of the IV bags market over the forecast period.
