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Global Non-PVC IV Bags Market, by Type (Single-chambered and Multi-chambered), by Material (Polypropylene (PP) IV Bag, Polyethylene IV Bag, Copolyester Ether IV Bag, Ethylene-vinyl Acetate (EVA) IV Bag, and Others), by Application (Chemotherapy, Targeted Drug Delivery, Glucose Injection, Sodium Chloride Injection, Electrolyte Injection, Nutrient Injection, and Others), by End User (Hospitals, Clinics, Emergency Service Centers, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 1,805.6 Mn in 2021, and is expected to exhibit a CAGR of 9.5% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.

Increasing prevalence of chronic diseases such as cancer and kidney-related medical conditions is expected to drive the segment growth over the forecast period. For instance, according to a report published by the Centers for Disease Control and Prevention, more than one in seven (15%) of the adults or 37 million people in the U.S. are estimated to have chronic kidney disease as of 2021.

Global Non-PVC IV Bags Market– Impact of Coronavirus (COVID-19) Pandemic

The pre-COVID situation of non-PVC IV bags market was favorable for key players, and companies operating in the market were focused on gaining a significant share in the market. The COVID-19 lockdown resulted in the closure of industrial establishments, except for the manufacturing of essential commodities, and there was a disruption in supply chain of the products. Thus, the COVID-19 pandemic affected the economy by directly affecting production and demand, by creating disruptions in distribution channels and also, by its financial impact on firms and financial markets.

COVID-19 can affect the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Supply chain and manufacturing activities in India, China, and the U.S. were disrupted due to the global lockdown, while several countries, such as Saudi Arabia, UAE, Egypt, and others, are facing problems with regards to the transportation of non-PVC IV bags from one place to another.

Browse 46 Market Data Tables and 42 Figures spread through 206 Pages and in-depth TOC on “Non-PVC IV Bags Market”-  Global Forecast to 2028, Global Non-PVC IV Bags Market, by Type (Single-chambered and Multi-chambered), by Material (Polypropylene (PP) IV Bag, Polyethylene IV Bag, Copolyester Ether IV Bag, Ethylene-vinyl Acetate (EVA) IV Bag, and Others), by Application (Chemotherapy, Targeted Drug Delivery, Glucose Injection, Sodium Chloride Injection, Electrolyte Injection, Nutrient Injection, and Others), by End User (Hospitals, Clinics, Emergency Service Centers, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights prevalent in the Global Non-PVC IV Bags Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/non-pvc-iv-bags-market-4840

Moreover, increasing inorganic strategies adopted by the key players such as partnerships are also expected to aid in growth of the global non-PVC IV bags market over the forecast period. For instance, in October 2021, Kraton Corporation, a leading global manufacturer of bio based chemicals and specialty polymers, announced that it had entered into a definitive merger agreement with DL Chemical Co., Ltd., a comprehensive petrochemical company producing and supplying polyethylene and plastic products. Moreover, as per this agreement, DL Chemical Co., Ltd., will acquire 100% of an all-cash transaction of Kraton thereby resulting in an enterprise value of approximately US$ 2.5 billion. Under this merger agreement, Kraton stockholders will receive about US$ 46.50 in cash for each share of Kraton common stock they possess.

Key Takeaways of the Global Non-PVC IV Bags Market:

  • The global non-PVC IV bags market is expected to exhibit a CAGR of 9.5% during the forecast period due to increasing research and development expenditure by players, organizations, countries, and others, which is expected to drive the market growth. For instance, according to the Congressional Research Service Report, April 2020, the total global R&D expenditure increased by three folds, which was from US$ 676 billion to US$ 2.0 trillion in the years 2000 and 2018, respectively.
  • Among application, chemotherapy segment is estimated to account for the largest market share in the global non-PVC IV bags market in 2021. Chemotherapy is a type of cancer treatment in which one or more anti-cancer drugs are administered as a part of standardized chemotherapy regimen. Intravenous (IV) chemotherapy is a type of cancer treatment in which chemotherapy medicine is injected directly into a patient's vein, where it enters the bloodstream immediately. The increasing prevalence of cancer will result in increasing demand of non-PVC IV bags, which is expected to drive the segment growth over the forecast period.
  • On the basis of region, North America is estimated to account for the largest market share in global non-PVC IV bags market in 2021, owing to the presence of leading market players such as Fagron Sterile Services, Fresenius Kabi, and others in the region, which develops non-PVC IV bags. For instance, in March 2021, Fagron Sterile Services, a U.S.-based pharmaceutical company, developed a new platform of intravenous (IV) containers for the packaging of COVID-19 drugs such as fentaNYL, HYDROmorphone, and Midazolam.
  • Major players operating in the global non-PVC IV bags market include 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.
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