Global Medical Specialty Bags Market – High Growth Potential in Emerging Economies | Technavio

December 28, 2017

LONDON–(BUSINESS WIRE)–#Healthcare–Technavio’s latest market research report on the global
medical specialty bags market provides an analysis of the
most important trends expected to impact the market outlook from
2017-2021. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

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The top three emerging market trends driving the global
medical specialty bags market according to Technavio research
analysts are:

Growing number of new medications requiring IV administration
Introduction of PVC-free bags
High growth potential in emerging economies

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Growing number of new medications requiring IV administration

Medications are infused into the vein in IV therapy, which is preferred
over oral or other ways of medication. Moreover, absorption of some
antibiotics from the gastrointestinal system can result in adverse
events. Medical conditions such as sepsis, bacteremia, pneumonia,
wounds, and other infections require a constant dose of antibiotics to
fight these infections and balance the electrolyte in the body which can
be easily achieved through IV fluids.

According to Barath Palada, a lead analyst at Technavio for orthopedics
and general medical devices “IV therapy is applicable in
administering medications such as anesthetics and diagnostic reagents.
Approximately 35-45% of all antibiotics are administered intravenously.
To treat trauma or failure in red blood cell production during surgery,
IV therapy is used to deliver blood or blood products. Blood transfusion
is also used in treating conditions like anemia or thrombocytopenia,
SCA, and hemophilia. All these treatments mandate medical specialty
bags.”

Introduction of PVC-free bags

PVC is used to manufacture many medical devices such as catheters,
medical specialty bags and is an inexpensive plastic material. However,
PVC releases a toxin called DHEP which causes side-effects when it comes
in contact with a patient’s body. This has led to the development of
PVC-free medical devices. PVC alternatives that are available in the
market do not require phthalates or other softeners. Thus, the potential
hazards caused by phthalates can be avoided. Non-PVC materials such as
polyurethanes, latex, silicone, and polyethylene are easy to recycle and
eliminate problems related to disposal.

High growth potential in emerging economies

Emerging economies play a vital role in the growth of the global
medial specialty bags market. Companies are also focusing more on
these developing countries due to high growth potential with a large
patient pool. Increase in prevalence of chronic diseases in Asian
countries and volume of surgeries in countries such as China and India
are contributing towards the growth of the market.

“The vendors in the market are focusing on developing countries to
establish new manufacturing plants due to low cost of production in
Asian countries. Such factors will help companies to meet the growing
demand in the market and build their brands,” says Barath.

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