by The Non-PVC IV Bags market is experiencing significant demand with rising awareness about health hazards associated with PVC materials. Non-PVC IV bags are being widely adopted as they are free from DEHP (diethylhexyl phthalate) plasticizer which is commonly used in PVC materials. These bags are safer for long-term use and blood storage as they prevent leaching and formation of toxic by-products. The global Non-PVC IV Bags Market is estimated to be valued at US$ 505.62 million in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing demand for eco-friendly solutions is propelling the Non-PVC IV Bags market substantially. Non-PVC materials prevent the leaching of toxic phthalates into fluids and reduce environmental pollution. Many healthcare facilities and regulatory agencies are encouraging the use of non-PVC products to ensure patient and environmental safety. Additionally, manufacturers are actively developing advanced non-PVC materials that provide equivalent or better properties than PVC at lower production costs. Increased R&D investments and new product launches with novel materials are expected to boost the non-PVC IV bags market during the forecast period.
SWOT Analysis
Strength: Non-PVC IV bags are free from plasticizers like DEHP and latex, making them safer for patients and healthcare workers. They provide better biocompatibility.
Weakness: Non-PVC IV bags have higher production costs compared to PVC bags. Established infrastructure for PVC bags increases initial investments required for non-PVC bags.
Opportunity: Growing demand for non-toxic medical products and rising health standards drive the growth of non-PVC IV bags market. Increasing healthcare expenditure in developing nations also promotes market growth.
Threats: Developing alternative technologies for IV fluid storage and administration can replace non-PVC IV bags. Fluctuating raw material prices and stringent regulations pose challenges.
Key Takeaways
The Global Non-PVC IV Bags Market Demand is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis shows that North America currently dominates the market and is expected to continue its dominance. Asia Pacific is projected to be the fastest growing region owing to increasing healthcare spending, rising medical tourism and growing incidences of chronic diseases in the region.
Key players operating in the non-PVC IV bags market are Baxter, Sippex, B. Braun, Wipak, JW Life Science, Amcor and Fresenius Kabi. These players are focused on new product launches, enhancing production capabilities and regional expansion to strengthen their market position. For instance, Baxter launched Climagev-C, a new non-PVC IV bag range containing di-2-ethylhexyl phthalate (DEHP)-free polymer for added safety.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
