LONDON–(BUSINESS WIRE)–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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