Global Non-PVC IV Bags Market: Overview
Non-PVC IV bags are acknowledged for their since safe nature and the convenience they offer during handling and transportation. These bags have a strong demand in oncology treatment. Several agents used under these therapies are prone to interaction with compounds present in traditional PVC IV containers and tend to convert into hazardous agents. Hence, the risk of drug contamination is playing an important role in the growth of the global non-PVC IV bags market. Favorable government initiatives are also impacting the market positively. On the basis of type, the market can be divided into single chamber and multi chamber. Based on content, the market can be segmented into liquid mixture and frozen mixture.
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Global Non-PVC IV Bags Market: Key Trends
PVC materials are widely used for packaging. However, they are non-decomposable and thus, their disposal has a negative impact on the environment. The rising environmental concerns are, therefore, paving way for the development of eco-friendly substitutes to PVC, which in turn is stoking the growth of the global non-PVC IV bags market. Moreover, the soaring demand for safer and effective medical packaging is augmenting the global market. The improving healthcare facilities in emerging countries and strict norms pertaining to the usage and disposal of PVC are also providing a fillip to the market. Despite the environment-friendly nature of non-PVC IV bags, their high cost is limiting their widespread adoption.
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Global Non-PVC IV Bags Market: Market Potential
The demand for single-chambered bags will remain high throughout the forecast period. The increasing number of point-of-care facilities and home care setups is accentuating the demand for single-chamber bags, which will work in favor of the overall market. On the other hand, manufacturers are now increasingly focusing towards the development of multi-chambered bags and pouring large sums into research activities in the field. The growing utilities of this type of non-PVC IV bags in numerous applications, including parental nutrition services, chemotherapy, and drug reconstruction are likely to render the market highly lucrative.
Moreover, players are paying high attention to the development of customized non-PVC IV bags that can better adapt and scale to suit the requirements of end users. The surging number of local players in India and China market are leading to the availability of non-PVC IV bags at competitive pricing, which in turn is likely to trigger their sales.
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Global Non-PVC IV Bags Market: Geographical Segmentation
From a geographical standpoint, the report segments the global non-PVC IV bags market into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. North America and Europe will account for a substantial cumulative share throughout the review period. The increasing stringency of regulatory bodies towards patient safety along with the rising adoption of novel medical devices is driving the growth of the regions. Moreover, stringent norms for disposal of PVC materials are propelling the demand for non-PVC IV bags in these regions.
Asia Pacific, on the other hand, will exhibit a noteworthy CAGR during the same period. The growth of the market can be attributed to the presence of several fast-developing economies, including India and China. The improving healthcare infrastructure and booming medical tourism industry in these economies are fuelling the growth of the overall region. Besides this, the rising environmental concerns and growing foreign direct investments are playing a vital role in the growth of APAC.
Global Non-PVC IV Bags Market: Key Players
Some of the key participants in the global non-PVC IV bags market are Shanghai Xin Gen Eco-Technologies Co. Ltd, PolyCine GmbH, RENOLIT, Jiangxi Sanxin Medtec Co. Ltd., Kraton Corporation, Cryovac Inc. (Sealed Air), Shanghai Solve Care Co. Ltd., and ANGIPLAST PVT. LTD.