Pune, India, July 26, 2021 (GLOBE NEWSWIRE) -- The global Intravenous Fluid Bags Market size is expected to witness substantial growth during the forecast period. This is ascribable to factors such as increasing number of geriatric population and high prevalence of chronic disease across the globe. Fortune Business Insights, publish this information, in its latest upcoming report, titled “Intravenous Fluid Bags Market Size, Share & Industry Analysis, By Fluid Type (Normal Saline, Dextrose, Ringer’s Lactate, Vitamins, Others), By Application (Clinical, Wellness), By End User (Hospitals, Hydration Centers / Clinics, Home Care Settings, Others) Others and Regional Forecast, 2019-2026.”
The Intravenous Fluid Bags Market highlights:
- An extensive study of regions
- Forecast value of the market
- Detailed analysis of the segments
- COVID-19 effect on the market
- Ongoing clinical trials
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Drivers and Restraints:
Increasing Number of Geriatric Population to Stoke Demand
Presently, every region in the world is witnessing growth in the number of older population at an unprecedented rate. According to the World Health Organization (WHO), the geriatric population that was 900 Million in 2015 is expected to reach 2 Billion by 2050 globally. Older population require extra care and proper medical facilities owing to increasing prevalence of chronic disease witnessed across the globe. In addition to this, geriatric population are affected by chronic illness, emotional imbalance, and low self-esteem owing to dependency on others. Chronic disease such as heart disease, diabetes, cancer, and stroke, among others are the most common among the older population. Thereby, increasing number of geriatric population across the globe is expected to drive the growth of the market during the forecast period.
Intravenous (IV) fluid bags are extensively used in the healthcare sector. They are beneficial for multi-purpose use such as to maintain blood pressure, prevent dehydration, and provide the patients with necessary nutrients in case they find difficulty eating food. Additionally, IV fluid bags are termed to be the backbone of the healthcare system owing to numerous benefits regarding patient’s care. Furthermore, growing impetus to develop disposable IV fluids bags that are free from form PVC material to deliver fluids accurately and safely has been the area focus of manufacturers across the globe.
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Regional Analysis:
Improved Healthcare Amenities in North America to Augur Growth
Among the regions, North America is expected to lead the market during the forecast period. This is ascribable to factors such as increasing prevalence of chronic diseases such as cancer and diabetes. Additionally, improved healthcare facilities will propel the market in the region to register highest global intravenous (IV) fluids bag market revenue. Furthermore, increasing investment in research and development will aid the market growth in North America. On the other hand, Europe is anticipated to witness robust growth in the forthcoming years. This is attributable to factors such as increasing number of geriatric population and growing innovation in development of IV fluids bag.
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Competitive Landscape:
Investments in R&D Activities by the Companies to Drive the Market
In May 2019, B. Braun Medical announced its plan to invest around $1 Billion for development of its new and existing manufacturing facilities that manufactures IV fluids. The company is trying to leverage the opportunity owing to the shortage of IV fluids in the market caused due to rampant effects of Hurricane Maria in Puerto Rico back in 2017. Caroll Neubaeur, CEO of B. Braun said that the investment is with a view to avoid future shortage of IV fluids and maintain a surplus supply of IV fluids to maintain efficient patients care.
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The Report Lists the Main Companies in the Market:
- Braun Melsungen AG
- Baxter
- ICU Medical Inc.
- Sippex IV bag
- Fosmo Med
- Fresenius Kabi AG
- Polifarma
- Among others
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