medical fluid bags markett
COVID-19 is a large family of viruses that causes symptoms ranging from the common cold to more severe respiratory diseases.
PORTLAND, OREGON, UNITED STATES, March 23, 2022 /
EINPresswire.com/ -- Increase in incidence of chronic diseases, rise in geriatric population, and surge in number of premature births drive the growth of the global
medical fluid bags market. However, health concerns associated with the use of BPA and DEHP medical bags restrain the market to some extent. On the other hand, increase in number of hospitals and growing pharmaceutical sector presents new opportunities in the upcoming years.
According to the report published by Allied Market Research, the global medical fluid bags market was valued at $ 3,531.80 million in 2020 and is projected to reach $ 6,057.60 million by 2030 registering a CAGR of 5.50% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Impact of COVID-19 on Medical Fluid Bags Market-
The outbreak of the COVID-19 pandemic had a large economic impact, inflicting significant loss across many countries, which in turn, resulted in financial adversities in the healthcare sector.
Furthermore, factors such as supply chain disruptions and raw material shipment delays, have affected the antipsychotic drugs industry growth.
On the other hand, rise in the demand for intravenous bags used in IV therapy supplemented the market growth even more.
Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, “The rise in incidences of various chronic conditions, including diabetes, cancer, cardiovascular diseases, kidney and liver infections, is among the key drivers propelling the growth of the medical fluid bags market globally.”
Medical fluid bags are used in fluid replacement therapy to ensure proper body fluid collection, electrolyte imbalances, blood transfusions, and oral or enteral patient nutrition. The intravenous route is the fastest way to administer medications and fluids throughout the body. These bags are utilized in blood storage facilities, dialysis, blood transfusion, and biohazard disposal, along with fluid replacement therapy,
Based on end user, the hospital segment held the largest market share in 2020, holding nearly half of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the blood banks segment is projected to register the highest CAGR of 5.4% from 2021 to 2030.
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Based on region, the global antipsychotic drugs market across North America contributed to the highest share in terms of revenue in 2020, holding more than one-third of the total market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 6.3% during the forecast period.
Leading players of the global medical fluid bags market analyzed in the research include Amsino International Inc., B. Braun Medical, Baxter International, ConvaTec, Fresenius Kabi, Hospira Inc., Pall Corporation, Smiths Medical, Terumo, Thermo Fisher Scientific Inc. and Westfield Medical Ltd.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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Allied Analytics LLP
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