The global Non-PVC IV Bags Market size is expected to reach USD 3.09 billion by 2028, registering a CAGR of 9.8% over the forecast period, according to a new report by Grand View Research, Inc. RENOLIT, Baxter, Angiplast Pvt. Ltd., Shanghai Xin Gen Eco-Technologies Co., Ltd., Jiangxi Sanxin Medtec Co., Ltd. are some of the key players in this industry. The demand for non-PVC substitutes is expected to grow in response to increasing global demand for nontoxic medical packaging and stringent legislation banning the use of PVC (polyvinyl chloride). Significant research and development for new alternatives are also expected to drive the global market over the forecast period.
Non-PVC IV bags are majorly used for parenteral
nutrition and chemotherapy. With the advent of different varieties of
substitutes, such as EVA and polypropylene, PVC packaging is likely to be
replaced by non-PVC substitutions, such as polypropylene and EVA. These
materials can be utilized for various purposes, such as cold or frozen storage
and custom mixtures. Thus, the wide applicability of non-PVC IV bags is
expected to propel the market growth over the forecast period.
In addition, stringent regulatory policies related to
PVC IV bags have led to an increase in the use of non-PVC materials in the
medical and non-medical industries. The global movement toward non-PVC
materials provides tremendous growth prospects, drawing producers and investors
to the sector. Non-PVC IV bags are becoming more common in parenteral nutrition
services. Since the composition varies from patient to patient, they have a
high demand for multi-chambered containers. With the introduction of tailored
clinical solutions, the need for customized IV bag suppliers is expected to
grow.
Related Press Release@ Non-PVC IV Bags Market Report
Non-PVC IV Bags Market Report
Highlights
- The single-chamber product segment dominated the global market
accounting for a revenue share of over 63% in 2020 due to the extensive
use of IV drips and other mixtures
- Ethylene Vinyl Acetate (EVA) was the largest material segment in
2020 and is likely to continue its dominance over the forecast period
- Higher protection and utility of EVA in frozen mixtures, like blood
banks, are expected to have a significant impact on the segment growth
- The liquid mixture segment held the largest revenue share in 2020
owing to its increased usage
- North America was the dominant regional market in 2020. However,
Asia Pacific is estimated to showcase the fastest CAGR from 2021 to 2028
- The emergence of a large number of local companies and growing
Foreign Direct Investments (FDIs) in the Asia Pacific are driving the
regional market
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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