Key Findings of the Global Intravenous Fluid Bags Market | Technavio

Technavio has published a new market research report on the global Intravenous fluid bags market from 2018-2022. (Graphic: Business Wire)

LONDON--()--The latest market research report by Technavio on the global intravenous fluid bags market predicts a CAGR of close to 6% during the period 2018-2022.

The report segments the global intravenous fluid bags market by end-user, including hospitals and home healthcare, and by geography, including the Americas, EMEA, and APAC. It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global intravenous fluid bags market, according to Technavio researchers:

  • Growing demand for intravenous therapy due to increased prevalence of chronic diseases: a major market driver
  • Continuous product innovation: emerging market trend
  • The Americas dominated the global intravenous fluid bags market with 42% share in 2017
  • In 2017, hospitals held the highest market share of nearly 41%

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Growing demand for intravenous therapy due to increased prevalence of chronic diseases: a major market driver

Chronic diseases such as cancer, diabetes, and CVDs are becoming more prevalent due to factors such as an increase in urbanization, sedentary lifestyle, and unbalanced diet. In 2014, in the US, 1,596,486 people were diagnosed with cancer, of which, 591,686 people died. Cancer patients face complications such as malnutrition, acute weight loss, and anorexia. Such conditions affect the fluid balance and cause instability that leads to the higher mortality rate in patients.

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Continuous product innovation: emerging market trend

There has been a constant improvement on the features of intravenous fluid bags by manufacturers. PVC products are one such innovation. PVC and its toxic breakdown product, and DEHP have an adverse effect on patient's health. This resulted in an increase in the usage of disposable or single-use intravenous bags.

According to a senior analyst at Technavio for research on health and wellness, “The growing awareness of the related health hazard caused by the usage of PVC products has led to an increase in demand from hospitals to promote the usage of disposable or single-use intravenous bags. Some of the benefits of using disposable bags are a reduction in risk of cross-contamination, safety, sterility, and convenience of usage. Increase in usage of disposable bags has also increased the demand for the use of plastic materials as they are cost-effective compared with any other material.”

Global market opportunities

In terms of regional dominance, the Americas led the global intravenous fluid bags market, followed by EMEA and APAC in 2017. In the Americas, countries such as the US, Canada, and Brazil dominate the market. The high demand for intravenous fluid bags can be attributed to the significant investments in healthcare research in North America, as well as incidence of infectious diseases such as influenzas.

In EMEA, Europe contributed the highest revenue to the market due to the growing prevalence of diabetes mellitus, increasing number of surgeries, and rising healthcare expenditure in countries such as Germany, the UK, and France. In APAC, large geriatric population and rising healthcare expenditure will increase the demand for intravenous fluid bags.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The latest market research report by Technavio on the global intravenous fluid bags market predicts a CAGR of close to 6% during the period 2018-2022.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com