by The global Non-PVC IV Bags Market is estimated to be valued at US$ 2164.96 Mn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Non-PVC IV bags are sterile containers or flexible pouches used for administration and collection of pharmaceutical and nutritional fluids intravenously. These bags offer several advantages over traditional PVC IV bags such as enhanced biocompatibility, potential for reduced pyrogenic reaction, and lower interactions with drugs. Non-PVC IV bags eliminate plasticizers like DEHP (diethylhexyl phthalate) that are commonly used in PVC products and are known endocrine disruptors. They provide a safer alternative for patients, especially newborns and children who require frequent infusions. Non-PVC IV bags help avoid toxic exposures to plasticizers that can leach from conventional PVC containers into drugs and blood components. The growing need for DEHP-free and environment-friendly IV solutions is propelling the demand for non-PVC IV bags globally.
Market key trends:
One of the key trends in the non-PVC IV bags market is the increasing adoption of eco-friendly materials for manufacturing. Manufacturers are focusing on developing non-PVC IV bags from sustainable, recyclable, and biodegradable polymers like polyolefins and copolymers of ethylene and vinyl acetate. For instance, polyolefin IV bags offer reduced environmental footprint and can be easily disposed of after use without toxic emissions. Another trend is the technological advancements in manufacturing processes. Companies are investing in advanced blow-fill-seal technologies to mass-produce non-PVC IV bags with high precision, strength, and sterility. Various regulatory approvals for novel non-PVC materials are also fostering innovation. Further, the rising M&A activities and strategic collaborations between material developers and medical product OEMs are expanding the market reach.
Porter’s Analysis
Threat of new entrants: The high investment required for manufacturing capacity and licensing acts as a barrier for new players.
Bargaining power of buyers: The presence of many established players makes buyers have more bargaining power demanding lower prices.
Bargaining power of suppliers: Raw material suppliers have less bargaining power due to availability of substitute suppliers.
Threat of new substitutes: Alternatives like PVC IV bags offer a low-cost solution, however non-PVC IV bags are gaining preference due to environmental concerns.
Competitive rivalry: The global market is highly competitive and fragmented due to the presence of many domestic and international players.
Key Takeaways
The global Non-PVC IV Bags Market Share Size is expected to witness high growth, exhibiting CAGR of 9.5% over the forecast period due to increasing patient population across the globe and rising prevalence of chronic diseases.
Regional analysis: North America is currently the largest market for non-PVC IV bags owing to growing healthcare spending and infrastructure. Asia Pacific region is anticipated to witness fastest growth on account of rising medical tourism and presence of prominent generic manufacturers in the region.
Key players operating in the non-PVC IV bags market are Renolit SE, Kraton Corporation, Shanghai Solve Care Co., Ltd., Shanghai Xin Gen Eco-Technologies Co., Ltd., PolyCine GmbH, Jiangxi Sanxin Medtec Co., Ltd., Sealed Air, Baxter, B. Braun Melsungen AG, Sichuan Kelun Pharmaceutical Co., Ltd., Fresenius Kabi AG, Otsuka Holdings Co., Ltd., Sartorius AG, Technoflex, and Huaren Pharmaceutical Co., Ltd.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
