Empty IV Bags Market Size, Share & Trends Analysis Report By Product (PVC, Non-PVC), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), And Segment Forecasts, 2023 - 2030

Empty IV Bags Market Growth & Trends

The global empty IV bags market size is anticipated to reach USD 8.76 billion by 2030, expanding at a CAGR of 8.60% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is expected to witness growth due to the increasing government initiatives, rising Natality rate, and rising geriatric population.

The growing risk of malnutrition is another major driver for the market’s growth. According to WHO, millions of people are suffering from different forms of malnutrition across the world. According to the study by the Global Coalition on Aging (GCOA) 2020, on average, 31.0% of patients admitted to hospitals are undernourished, and the prevalence is higher among seniors, affecting up to 52.7% of older people hospitalized with COVID-19. Thus, an aging population is significantly increasing the prevalence of various health issues, including nutritional problems and chronic non-communicable diseases. This is anticipated to support the industry growth in the coming years.

Key players are undertaking various strategic initiatives to develop technologically advanced products. Key players are adopting strategies such as mergers & acquisitions, purchasing agreements, and partnerships to launch new product lines with advanced technology. For instance, in January 2022, the acquisition of Smiths Medical's syringe and vascular access, ambulatory infusion devices, and vital care products to the ICU Medical portfolio establishes a prominent infusion therapy company with a stronger global presence. ICU Medical completed the acquisition of Smiths Medical from Smiths Group plc.

Furthermore, in June 2022, Gufic Biosciences worked in partnership with a French company to produce its novel technology locally in India. Gufic Biosciences first introduced two-chamber IV bags composed of polypropylene (DEHP-free) with peelable aluminum foil that could store unstable medications that required reconstitution right before giving them to a patient which is expected to drive the growth of the empty IV bags industry in near future.

Empty IV Bags Market Report Highlights

• Based on product, the PVC segment held the largest share of around 50.21% in 2022. Since PVC is comparatively cheap to manufacture and is easy to work with, which contributes to the segment growth
• The non-PVC empty IV bags segment is expected to grow at the highest CAGR of 9.78% during to forecast period, owing to technological advancements, environmentally friendly properties, and the rising number of surgeries. Non-PVC empty IV bags is further sub-segmented into single, and multi-chamber empty IV bags
• The Asia Pacific region is expected to significantly lead the market from 2023 to 2030, owing to various factors such as growing population, rising disposable income & healthcare expenditure, as well as the presence of large untapped opportunities in emerging economies such as China, and India. Moreover, investments being made by companies to expand their regional presence and develop healthcare infrastructure are further contributing to the market growth

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