Medical Fluid Bags Market Revenue to Cross USD 4.9 Bn by 2027: Global Market Insights Inc.

According to the latest report “Medical Fluid Bags Market by Product (Blood Bags, Intravenous Bags, Drain Bags, Enema Bags, Biohazard Disposable Bags, Breast Milk Bags, Reagent Bags, Dialysis Bags), Material (PVC Compounds, Polyolefins, Thermoplastic Elastomers, Thermoplastic Polyurethanes), End-Use (Hospitals, Blood Banks, Clinics, Homecare Settings, Diagnostic Centers), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of medical fluid bags will cross $4.9 billion by 2027.
Increasing number of premature births is one of the prime factors driving the medical fluid bags market growth. Preterm birth and related complications are the leading cause of death among newborns, especially in developing countries of the APAC region. China has one of the highest numbers of premature births across the globe every year. Babies that survive premature births may face chronic conditions that require long-term follow-up. These adverse events, along with the rise in chronic diseases in premature babies, are anticipated to impel the adoption rate of medical fluid bags for precise fluid, electrolyte, and nutrition management.
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The intravenous bags segment in the medical fluid bags market is expected to expand at a 6.5% growth rate through 2027, led by the increasing prevalence of ailments, including gastrointestinal diseases, neurological diseases, and cancer, among others that requires efficient drug administration methods. As per the article published in 2018, it is estimated that in the U.S., around 11% of the population suffer from at least one chronic digestive disorder, with a prevalence rate of 35% for individuals aged 65 years and above. According to the Global Burden of Disorders Study conducted in 195 countries, around 250.7 million disability-adjusted life years (DALYs) are caused due to neurological disorders worldwide. Hence, as per the statistics, the increasing patient pool across the globe will fuel the demand for intravenous bags for the precise transportation of nutrients and other essential compounds for patients.
The medical fluid bags market for thermoplastic elastomers segment is poised to attain a CAGR of 6.4% by 2027 on account of the vital properties possessed by medical fluid bags composed of thermoplastic elastomers. Thermoplastic elastomers (TPE) feature a high degree of purity, better recycling capabilities and superior flexibility. Thermoplastic elastomers are a cost-effective replacement for allergy-causing latex, as well as PVC materials. Continuous developments in TPE technologies have helped in meeting the environmental and health regulatory standards and is further helping to tame the cost containment and competitive pressure.
The clinics segment in the medical fluid bags market is projected to grow at a 6.5% CAGR through 2027, owing to the growing demand for urgent care and the rise in number of clinics. According to the Urgent Care Association’s (UCA) 2019 report, the number of clinics in the U.S. reached 9,616 in November 2019, highlighting a 9.6% surge from the previous year. Urgent care clinics addresses approximately 89 million patient visits in the country annually. The growing patient demand for quick access to healthcare services, better convenience and cost-effectiveness is spurring the growth in number of urgent care clinics. The UCA survey also reported that 92% of the patients were consulted by a healthcare professional in less than 30 minutes of admission. As a result, the growing number of urgent care clinics is slated to promote the acceptance of medical fluid bags, as these bags are essential and are widely used in daily clinical practices and surgical operatives, thereby impelling the market progression.
Brazil’s medical fluid bags market size will reach over USD 193 million by 2027 due to the rising prevalence of chronic diseases such as cancer, kidney-related diseases and growing surgical volumes in the country. According to the Brazilian National Health Survey, around 45.1% of the population aged 18 years and above were diagnosed with minimum one chronic condition. The incidence of these conditions increased with advancing age. The prevalence of chronic kidney diseases was reported to be 15.4% in the country. Medical fluid bags are widely used in management of chronic conditions such as kidney diseases and the growing prevalence of these conditions will augment their adoption rate over the forecast period. Additionally, growth in the surgical volume in Brazil is further set to promote the industry growth.
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Some of the major players operating in the medical fluid bags market include B. Braun Medical, Baxter International, Becton, Dickenson and Company, Coloplast, ConvaTec, Fresenius Kabi, Kraton, Maco Pharma, Pall Corporation, Renolit, Smiths Medical, Technoflex, Terumo Corporation and Thermo Fisher Scientific, among others. These companies focus on adopting several strategies including acquisitions, new product launches, research activities to strengthen their product portfolio and commercial presence.
Table of Contents (ToC) of the report:
Chapter 3   Medical Fluid Bags Market Insights
3.1    Industry segmentation
3.2    Industry landscape, 2016 – 2027 (USD Million)
3.3    Industry impact factors
3.3.1    Growth drivers
3.3.2    Industry pitfalls & challenges
3.4    Growth potential analysis
3.4.1    By product
3.4.2    By material
3.4.3    By end-use
3.5    COVID-19 impact analysis
3.6    Regulatory landscape
3.7    Porter’s analysis
3.8    Competitive landscape, 2020
3.9    PESTEL analysis
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Source: Global Market Insights Inc.