Medical Fluid Bags Market Set to Reach USD 4.91 Billion by 2026
According to the report, The global medical fluid bags market in 2019 was approximately USD 3.17 Billion. The market is expected to grow at a CAGR of 6.45% and is anticipated to reach around USD 4.91 Billion by 2026.
Medical fluid bags are specially designed bags that are used in a variety of medical areas, such as blood storage, sterile packaging, urine collection, enteral feeding, and others. Medical fluid bags are polymer bags and fluid container bags for a wide range of medical applications. Health fluid bags are sold in various sizes with a plastic exterior covering. Also, ongoing COVID-19 pandemic has positive impact on the demand patterns in the global medical fluid bags industry.
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The global medical fluid bags market is segmented on the basis of product type and end user. On the basis of product type the global fluid bags market is divided into intravenous bags, blood bags, enema bags, reagent bag, drain bags, biohazard disposable bag, dialysis bags, breast milk bag, and others. Also based upon end user segment the global market is divide into blood banks, clinics & hospitals, diagnostic centers, homecare settings, and others end users.
The global medical fluid bags industry is expected to provide potential opportunities to the manufacturers, vendors, and the customers across the globe. Rising prevalence of chronic diseases such as heart, kidney and liver disorders, cancer, diabetes and anemia worldwide will serve as a high-impact market-growth factor for the global medical fluid bags market. Addition to this, increasing incidences of gastrointestinal disorder in the geriatric community, such as bowel obstruction, crohn’s disease, and gastroschisis, would fuel demand for medical fluid bags and in turn boost growth of the global market in the near future. Moreover, the growing prevalence of the COVID-19 pandemic have positive impact on the demand patterns of medical fluid bags which is expected to boost growth of the target market over the forecast period.
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Key players operating in the medical fluid bags market not restricted to include Fresenius Kabi AG, Baxter, Convatec Inc., Kawasumi Laboratories Inc., Kraton Corporation, Sippex IV Bag, Pall Corporation, Wipak, McKesson Medical-Surgical Inc., and Renolit. Key operating players in the global medical fluid bags market are aiming towards the mergers and acquisitions in order to get competitive edge in the market.
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