Increase in incidence of chronic diseases, rise in geriatric population, and surge in number of premature births drive the growth of the global medical fluid bags market. However, health concerns associated with the use of BPA and DEHP medical bags restrain the market to some extent. On the other hand, increase in number of hospitals and growing pharmaceutical sector presents new opportunities in the upcoming years.
The global medical fluid bags market was valued at $ 3,531.80 million in 2020 and is projected to reach $ 6,057.60 million by 2030 registering a CAGR of 5.50% from 2021 to 2030.
The rise in incidences of various chronic conditions, including diabetes, cancer, cardiovascular diseases, kidney and liver infections, is among the key drivers propelling the growth of the medical fluid bags market globally.
Onkar Sumant
Impact of COVID-19 on Medical Fluid Bags Market-
- The outbreak of the COVID-19 pandemic had a large economic impact, inflicting significant loss across many countries, which in turn, resulted in financial adversities in the healthcare sector.
- Furthermore, factors such as supply chain disruptions and raw material shipment delays, have affected the antipsychotic drugs industry growth.
- On the other hand, rise in the demand for intravenous bags used in IV therapy supplemented the market growth even more.
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The report offers detailed segmentation of the global medical fluid bags market based on product type, material, end user, and region.
Based on product type, the intravenous bags segment held the highest market share in 2020, holding nearly half of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the dialysis segment is estimated to register the highest CAGR of 6.3% from 2021 to 2030.
Based on end user, the hospital segment held the largest market share in 2020, holding nearly half of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the blood banks segment is projected to register the highest CAGR of 5.4% from 2021 to 2030.
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Based on region, the global antipsychotic drugs market across North America contributed to the highest share in terms of revenue in 2020, holding more than one-third of the total market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 6.3% during the forecast period.
Leading players of the global medical fluid bags market analyzed in the research include Amsino International Inc., B. Braun Medical, Baxter International, ConvaTec, Fresenius Kabi, Hospira Inc., Pall Corporation, Smiths Medical, Terumo, Thermo Fisher Scientific Inc. and Westfield Medical Ltd.
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