The market for medical fluid bags is set to exceed $4.4 billion by 2024, according to research from Global Market Insights (GMI; Selbyville, DE).
The drainage bag segment dominated the industry in 2017 with revenue of $867.5 million, and it will extend its dominance through the forecast period owing to applications in various surgical procedures, according to GMI. The breast-milk storage bag segment is projected to grow at the fastest rate, achieving approximately 7.1% CAGR during the forecast period.
Of the materials typically used to fabricate medical bags—PVC, polyolefins, thermoplastic elastomers (TPEs) and thermoplastic polyurethanes (TPUs)—TPEs are projected to grow at a robust 6.8% CAGR owing to their benefits over traditional PVC bags. Concerns over plasticizers, particularly DEHP, will hamper growth of PVC compounds in this market, said the report, which adds that TPEs offer greater elongation, improved tear resistance and more lightweighting opportunities than PVC bags.
Polyolefins accounted for the largest market share with a revenue of $925.2 million in 2017. This material will continue to experience growth in medical fluid bag applications because of its thermal stability, low levels of leaching and extraction levels, and its organoleptic properties, according to GMI.
Europe dominated the medical fluid bags market with a revenue of $901 million in 2017 and is projected to grow at a significant rate over the forecast period. Asia/Pacific will witness the fastest growth rate, achieving 6.9% growth during the forecast period owing to the increasing prevalence of chronic diseases.
The Medical Fluid Bags Market report provides historical data coverage from 2013 to 2017 and growth projections through 2024. Profiles of leading companies in this product segment are included in the competitive landscape report. For more information, go to the GMI website.