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Press Release

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

Technavio Research
Posted on: 28 Dec 17

Technavio’s latest market research report on the global medical specialty bags marketprovides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technaviodefines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171228005148/en/

Technavio has published a new market research report on the global medical specialty bags market 2017-2021 under their healthcare and life sciences library. (Graphic: Business Wire)

Avail Technavio’s Year-End Special offer : Get 50% off on this report and all other reports covering industries like ICT; energy; food and beverage; healthcare and life sciences; automotive; industrial automation; education; and many more. Offer valid only from Dec 18 – Jan 7.

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

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

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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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171228005148/en/

Business Wire
www.businesswire.com

Last updated on: 28/12/2017

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