Empty IV Bags Market Size, Share & Trends Analysis Report By Product (PVC, Non-PVC), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the empty IV bags market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for empty IV bags market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of empty IV bags market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Empty IV Bags Market Categorization:

The empty IV bags market was categorized into two segments, namely product (PVC, Non-PVC (Material), Non-PVC (Type)), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The empty IV bags market was segmented into product, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The empty IV bags market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; the UK.; Germany; France; Italy; Spain; Denmark; Sweden; Norway; Japan; China; India; Australia; Thailand; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Empty IV bags market companies & financials:

The empty IV bags market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Sippex IV bag mainly engages in designing, manufacturing, and selling medical connectors and bags. The company provides a wide range of flexible connectors and packaging solutions for the medical and pharmaceutical industry offerings. It functions through four business segments that are multilayer Polypropylene (PP) bags, Polyvinyl Chloride (PVC) medical bags, connectors/ports, and Layflat tubing & tubes. The company has manufacturing sites in China and France. Sippex has customers in about 50 countries across 5 continents.

• Technoflex is a Europe-based company that primarily designs and makes medical devices and flexible bags. The company also develops flexible containers for drugs injectable by IV. In addition, Technoflex provides packing solutions for products used in therapeutic research. Technoflex offers a complete line of IV bags, such as sterile IV bags, multi-chamber bags, PP bags, and PVC bags. The company functions through three segments—therapeutic applications, product lines, and services. The company has an annual capacity of manufacturing 100 million bags and 500 million connectors. The firm reported a consolidated turnover of 33 million euros in 2016.

• Wipak Group principally manufactures and develops packaging solutions of premium quality for medical instruments, devices, and food products. The company has a total of 11 production facilities in Europe and Asia and 12 manufacturing facilities in North America and Mexico area. The firm functions through two segments—food packaging and medical packaging. Wipak’s and Winpak’s healthcare businesses are collaboratively known as Wiicare. Both firms are a part of a global Wihuri Packaging group. Wiicare offers Pharmaceutical packaging, Hospital sterilization packaging, Medical device packaging, and Packaging machinery. The packaging machinery segment of the company is comprised of a complete product range of horizontal fill/seal and vertical form/fill/seal pouch machines.

• PolyCine GmbH manufactures non-PVC, non-DEHP, and non-LATEX polypropylene-based flexible packaging products for pharmaceutical applications and medical solutions. This includes sodium chloride, amino acid solutions, lipid solutions, etc. The products also contain a variety of patented peel seal films for multi-chamber bags, high gas barrier films for antibiotics & vitamin solutions, and flat films for drainage bags. Filling tubes, drainage products, post-granule/medical compound, overwrap packaging, hot stamp transfer foil, nutrition products, and IV & pharmacological products are some of the key products offered by PolyCine GmbH. The company has a presence in more than 40 countries located in regions such as Europe, North America, Latin America, Asia Pacific, and MEA as well.

• RENOLIT SE is a German company focused on manufacturing products in IV & pharma, nutrition, biotechnology, cardiovascular, dialysis, medical bag systems, and devices & packaging systems as well for the medical and pharmaceutical industry. The company offers a range of high-quality IV bags, both in PVC and in polyolefin materials. The company operates in over 30 locations across the regions such as the Americas, Asia, and Europe. Some of the products offered by RENOLIT SE are intravenous solutions packaging, RENOLIT IV solutions, PP port, cap for IV bag, spike port, injection port for IV bag, SPT port and Cap for IV bag,

• Baxter was initially known as Don Baxter Intravenous Products Corporation, which was in the business of production of IV solutions. The company manufactures and distributes healthcare equipment & instruments that primarily find applications in medication delivery, blood therapies, cardiovascular medicine, and renal therapy. It has business operations in more than 100 countries across the globe. The company operates in North America, Europe, the Middle East & Africa, Asia Pacific, and Latin America. The majority of the company’s revenue is generated outside the United States. In September 2021, Baxter International, Inc. entered into a definitive agreement to acquire Hill-Rom. The acquisition is most likely to aid the company in gaining access to Hill-Rom’s portfolio and strengthen the digital transformation process

• B. Braun Melsungen AG is a provider and manufacturer of healthcare products & medical care solutions. The company’s product portfolio consists of 5,000 products, with 95% of products being manufactured in-house. AESCULAP® Sterile containers (RSCs) are one of their well-known product. The company offers products such as continuous care & urology, extracorporeal blood treatment, infection prevention, infusion, interventional vascular therapy, IV drugs, minimally invasive surgery, neurosurgery, nutrition, orthopedic surgery, ostomy care, spine surgery, surgical instruments & sterile container systems, surgical power systems, and more. Hospital care, outpatient market, Aesculap, and B. Braun Avitum are the key reportable segments of the company. The company operates its business through therapies & indications for ostomy care, continence care & urology, cardiothoracic surgery, diabetes care, degenerative spinal disorders, general open surgery, extracorporeal blood treatment, infusion therapy, infection prevention, interventional vascular diagnostics & therapies, neurosurgery, laparoscopic surgeries, nutrition & pain therapies, orthopedic joint replacements, and wound management. The company offers a full line of IV solutions in containers that are developed biologically inert, using nontoxic plasticizers.

• ICU Medical, Inc. principally develops and distributes software, IV therapy systems, and solutions & consumables. It functions through four key segments—infusion therapy, critical care, oncology, and specialty. IV delivery system of the company offers an extensive portfolio of flexible IV containers, with PVC and non-DEHP alternatives. In addition, the firm develops, automated pharmacy IV compounding systems, closed systems, and cardiac monitoring systems. The company operates in more than 90 countries across the globe. Its facility in Auxin, Texas, manufactures IV solutions products. The company’s U.S. distribution of solutions, IV sets and accessories is supported by a network of two owned and one leased distribution centers, which comprise King of Prussia, Pennsylvania; Los Angeles, California; and Dallas, Texas.

• Fresenius Kabi AG is a healthcare company that focuses on the development of lifesaving medicines and technologies for infusion, transfusion, & clinical nutrition. It is a subsidiary of Fresenius SE & Co. KGaA healthcare group. The company’s key business fields are intravenously overseen drugs, infusion therapy, clinical nutrition, biosimilars, devices & transfusion medicine, and cell therapies. In IV drugs, the company provides a wide range of IV drugs and infusion therapies entailing non-PVC IV containers. The company functions in the global market with around 65 production sites and around 70 sales & marketing organizations in regions such as Africa, Asia Pacific, Europe, Latin America, the Middle East, and North America. In February 2021, Fresenius Kabi AG expanded its operations in Graz, Austria. In the past, the company launched its production facility in Indonesia.

• JW Life Science Corp is a Korean company that primarily develops products such as IV fluids & containers, renal products, amino acids, and Total Parenteral Nutrition (TPN) products. The JW group includes subsidiary companies such as JW Holdings, JW Pharmaceutical, JW Shinyak, JW Life Science, JW Medical, and JW Living Healthcare. JW Dangjin Production Complex is located in Dangjin, Chungnam, and is one of the largest eco-friendly non-PVC IV fluid plants for design, construction, and facilities. It is in agreement with the international GMP standard, and the entire manufacturing process is executed by a fully automated system. The IV fluid bags offered by the company are available in single and multi-chamber types.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Empty IV Bags Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Empty IV Bags Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.