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Medical Fluid Bags Market To Record Significant Revenue Growth During The Forecast Period 2020–2024

Author : Ronak Bora | Published Date : 2020-11-21 

Medical fluid bags market has been witnessing a paradigm shift of sorts in terms of innovation and technological advancements in the recent times. Driven by a steady increase in R&D initiatives coupled with the introduction of high-grade products, medical fluid bags industry size is forecast to register a commendable CAGR of 6.5% over 2018-2024.

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The launch of Cryo-Cell International's blood freezer bag is an exemplary instance that marks the progressive shift being witnessed in medical fluid bags market. The latest blood freezer bag, approved by the U.S. Food and Drug Administration, enables multiple uses of the baby’s cord blood stem cells. It reportedly works in tandem with proprietary procedure enhancements by Cryo-Cell that have improved stem cell viability by around 10%. This transformative product goes on to demonstrate the significant results of the R&D programs being undertaken by major firms operating in medical fluid bags industry. 

Increasing tendency of healthcare institutions to utilize light-weight, eco-friendly, and sustainable alternatives over PVC compound has been one of the pivotal factors that have compelled medical fluid bags market players to readily incorporate thermoplastic elastomers in their manufacturing units. While PVC compound continues to hold a significant position in creating several products across diverse business verticals, reducing or eliminating the use of PVC in the medical devices and equipment has emerged as a major challenge for many hospitals and healthcare institutions across the globe.

In this regard, it is quite prudent to mention that several progressive features of thermoplastic elastomers such as ease of recycling, superior low-temperature flexibility, higher tear resistance, greater elongation, and broader processing window has immensely popularized this material across medical fluid bags market space. Considering its scores of benefits over traditional bags made from PVC compound, numerous companies catering the healthcare industry have directed their resources toward manufacturing PVC-free medical equipment including fluid storage, delivery, and drainage bags.

Speaking of the regional growth outlook of medical fluid bags industry, the U.S. has been the forerunner in terms of apportioning the largest revenue share of this business space in the year 2016. A substantial increase of chronic illnesses such as cancer, Crohn’s disease, gastroschisis, diabetes, bowel obstruction, and disorders related to kidney and liver has considerably augmented the product demand in this region. Moreover, with the presence of a well-established healthcare infrastructure coupled with a number of favorable reimbursement policies, the U.S. medical fluid bags industry is slated to proliferate at an exceptional pace over the next few years, cite analysts.

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Partial Chapter of the Table of Content

Chapter 5.  Medical Fluid Bags Market, By Material

5.1. Key segment trends

5.2. PVC compounds

5.2.1.  PVC compounds market, by region, 2013-2024 (USD Million)

5.2.2.  PVC compounds market, by region, 2013-2024 (Kilotons)

5.3. Polyolefins

5.3.1.  Polyolefins market, by region, 2013-2024 (USD Million)

5.3.2.  Polyolefins market, by region, 2013-2024 (Kilotons)

5.4. Thermoplastic elastomers

5.4.1.  Thermoplastic elastomers market, by region, 2013-2024 (USD Million)

5.4.2.  Thermoplastic elastomers market, by region, 2013-2024 (Kilotons)

5.5. Thermoplastic polyurethanes

5.5.1.  Thermoplastic polyurethanes market, by region, 2013-2024 (USD Million)

5.5.2.  Thermoplastic polyurethanes market, by region, 2013-2024 (Kilotons)

5.6. Others

5.6.1.  Others market, by region, 2013-2024 (USD Million)

5.6.2.  Others market, by region, 2013-2024 (Kilotons)

5.7. Material substitution opportunities

Chapter 6.  Medical Fluid Bags Market, By End-use

6.1. Key segment trends

6.2. Hospital

6.2.1.  Hospital market by region, 2013-2024 (USD Million)

6.2.2.  Hospital market by region, 2013-2024 (Kilotons)

6.3. Blood banks

6.3.1.  Blood banks market by region, 2013-2024 (USD Million)

6.3.2.  Blood banks market by region, 2013-2024 (Kilotons)

6.4. Clinics

6.4.1.  Clinics market by region, 2013-2024 (USD Million)

6.4.2.  Clinics market by region, 2013-2024 (Kilotons)

6.5. Homecare settings

6.5.1.  Homecare settings market by region, 2013-2024 (USD Million)

6.5.2.  Homecare settings market by region, 2013-2024 (Kilotons)

6.6. Diagnostic centers

Browse full table of contents (TOC) of this report @ https://www.decresearch.com/toc/detail/medical-fluid-bags-market

 

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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