Report Ocean presents a new report on medical fluid bag market size, share, growth, industry trends, and forecast 2027, covering various industry elements and growth trends helpful for predicting the market’s future.
In 2020, the medical fluid bag market value was more than $2,531.80 million in 2020. The global medical fluid market is forecast to grow at a compound annual growth rate (CAGR) of more than 4.2% during the forecast period from 2021-2027.
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Fluid replacement therapy, blood transfusions, and oral or enteral nutrition all require the use of medical fluid bags to ensure proper body fluid collection, electrolyte imbalances, and patient nutrition. In various biomedical procedures, these bags consist of polymers and include pockets for storing body fluids.
In addition to an inner pouch, these fluid bags have an outer coating of flexible plastic. The bags and outer layer put inside these bags work together to protect the fluids until the expiration date listed on the bags. These bags are used in healthcare settings with a multipurpose approach to ensure that blood samples are kept in sterilized conditions, preventing the spread of infectious diseases and minimizing the loss of blood samples or medicines. The bags also help administer fluid replacement therapy so that adequate body fluids are collected, blood transfusions occur, electrolyte difference corrections occur, and healthy nutritional intake occurs via oral or enteral means.
Factors Affecting the Market
Globally, the rise in chronic conditions such as diabetes, cancer, cardiovascular diseases, kidney infections, and liver infections is driving the growth of the medical fluid bags market.
Hospitals and healthcare sectors throughout the world have seen a tremendous increase in demand for medical fluid bags. In the coming years, this will create considerable growth opportunities.
Concerns regarding improper disposal of PVC-based medical fluid bags that may have a detrimental impact on the environment and health problems associated with their use may inhibit the market growth.
Covid-19 Impact
In its initial phase, the COVID-19 pandemic affected the medical fluid bags market. Coronavirus outbreaks have had a significant economic impact across many countries, causing significant losses and causing an increase in disease burden. There have been severe financial repercussions resulting from the outbreak in several sectors, with the healthcare industry at the forefront. Raw material shipment delays and supply chain disruptions have contributed to the slow growth of the industry.
WHO released interim guidelines that suggest intravenous fluid treatment for COVID-19 patients who are infected and critically ill.
In addition to fluid therapy, the Joint Anesthetic and Intensive Care & International Fluid Academy recommends giving critical patients electrolyte and fluid therapy. Medical fluid bags market revenue will increase with adherence to such guidelines for intravenous bags used in IV therapy.
European Society for Clinical Nutrition, Metabolic Disorders (ESPEN) recommends enteral and parenteral nutrition for meeting the daily nutritional needs of COVID-19 patients.
The cancellation of elective surgeries and allocation of a significant share of healthcare resources for COVID-19 has resulted in a decline in overall admissions, thereby hampering industry demand.
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Regional Overview
The U.S. dominates the North American market for medical fluid bags due to rising hospital visits and more surgeries across the nation.
According to the Healthcare Cost and Utilization Project statistics, to date, more than 17.2 million hospital visits have been recorded in both ambulatory surgical centers and hospitals across the country.
The National Center for Health Statistics reports that approximately 48 million inpatient surgeries occur in the United States every year.
Since medical fluid bags are essential for surgical operations and are used to drain bodily fluids, supply liquid medication, nutrition, electrolytes, and blood during surgery, they will benefit from the growing number of surgical procedures.
Key Players
The leading prominent companies profiled in the global medical fluid bag market are:
Thermo Fisher Scientific Inc.
B. Braun Medical Inc.
Baxter International Inc.
Amsino International Inc.
ConvaTec Group plc
Hospira Inc.
Westfield Medical Ltd
Pall Corporation
Smiths Medical, Inc.
Terumo Corporation
Fresenius Kabi
Other Prominent Players
Aim of the Report
The global medical fluid bag market segmentation focuses on Product Type, End-User, Material, and Region.
Segmentation based on Product Type
Blood Bags
Intravenous Bags
Drain Bags
Dialysis Bags
Others
Segmentation based on End-User
Hospitals
Blood Banks
Others
Segmentation based on Material
PVC Compounds
Polyolefins
Others
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
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