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| Non-PVC IV Bags Market |
The 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 infusion products used for delivery of fluids, blood, drugs
and nutrients into a patient's body through intravenous administration. These
bags are made from materials such as ethylene vinyl acetate and cyclic olefin
polymer instead of conventional PVC material. They offer advantages such as
increased biocompatibility, lower toxicity and enhanced heat resistance. The
growing preference for safer medical infusion products is driving wider
adoption of non-PVC IV bags in hospitals and healthcare facilities.
Market Dynamics:
Increasing concerns regarding toxicity of PVC and stringent regulations on
phthalate plasticizers are a key factor propelling the demand for non-PVC IV
bags. PVC is known to leach phthalate plasticizers when in contact with fluids
which can potentially harm patients, especially newborns and infants. Many
countries have imposed restrictions on use of DEHP plasticized PVC in medical
devices. Furthermore, non-PVC materials offer advantages like better
functionality at high and low temperatures. This increases storage time and
facilitates supply chain flexibility. The growing prevalence of chronic
diseases also necessitates long-term fluid therapy use which stimulates the
need for stable and durable non-PVC IV materials. Significant research
investments by manufacturers to develop advanced non-PVC compositions is
another factor expected to drive the market growth over the forecast period.
SWOT Analysis
Strength:
Non-PVC IV bags are more environment friendly as compared to PVC bags as they
do not release toxic dioxins during manufacturing and disposal.
These bags are biodegradable and do not release hazardous substances on
incineration.
Non-PVC IV bags help in increasing brand image positioning a company as an
environmentally responsible organization.
Weakness:
Non-PVC IV bags are more expensive to produce as compared to conventional PVC
bags.
Developing suitable alternative polymers for non-PVC IV bag manufacturing is an
extensive R&D intensive process.
Opportunity:
Growing environment protection regulations regarding use and disposal of
medical plastics provide huge opportunities for non-PVC IV bag manufacturers.
Increasing consumer demand for eco-friendly medical products also presents
major market opportunities.
Threats:
Established market dominance of conventional PVC IV bags poses major challenge
for non-PVC bag companies.
Fluctuating prices of alternative raw materials used in non-PVC bags could
increase production costs.
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 environmental regulations banning use of PVC
in medical products. North America dominated the global market in 2023 with
over 35% revenue share owing to strict implementation of environmental
protection laws in the region.
Regional analysis
Asia Pacific region is expected to be the fastest growing market for non-PVC IV
bags exhibiting a CAGR of around 11% during the forecast period. This high
growth can be attributed to factors such as rising healthcare spending, growing
medical industry and increasing environmental regulations in countries like
China, India and Japan. China represented over 25% of Asia Pacific market share
in 2023 due to large population and rising adoption of eco-friendly medical
products.
Key players analysis
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. These players are focusing on developing innovative
non-PVC materials and enhancing their production capacities to cater to growing
product demand.
Read More,
https://www.trendingwebwire.com/non-pvc-iv-bags-market-trends-size-and-share-analysis/
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