Non-PVC IV Bags Market Size is Predicted to Witness 9.8% CAGR till 2028

The global non-PVC IV bags market size was valued at USD 1.51 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 9.8% from 2021 to 2028.

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