Sellbyville, DE -- (SBWIRE) -- 11/29/2018 -- Global Medical Fluid Bags Market is set to exceed USD 4.4 billion by 2024; according to a new research report by Global Market Insights.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
Amcor, Amsino International Inc., Baxter International Inc., B. Braun Medical, Coloplast, ConvaTec, Terumo Medical Corporation, Eagle Flexible Packaging, Fresenius Kabi, Smiths Medical, Kawasumi Laboratories America, Kraton Corporation, Pall Corporation, RENOLIT, MEDIPPEX : SIPPEX Medical bags, Thermo Fisher Scientific

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Drain bags segment of medical fluid bags market dominated the industry in 2017 with a revenue share of USD 867.5 million and will continue to dominate during forecast period owing to its wide applications in various surgical procedures. Rising prevalence of kidney related diseases such as diabetes, hypertension and renal failure among the geriatric population base leading to increasing number of surgical procedures will further accelerate the industry growth over the forecast period.

Thermoplastic elastomer segment will grow at a robust CAGR of 6.8% over the forecast timeframe owing to its benefits over traditional PVC bags. Thermoplastic elastomers offer greater elongation, tear resistance and light weight than PVC bags. Additionally, capability of recycling renders thermoplastic elastomers, as potential replacement for widely used PVC bags that negatively hamper humans as well as environment thereby accelerating the segment growth of medical fluid bags market.

Polyolefins are widely used for manufacturing medical fluid bags and accounted for the largest market share with a revenue of USD 925.2 million in 2017. This is attributable to its high thermal stability, low leaching and extracting levels and excellent organoleptic properties. Polyolefins are highly unreactive in nature and eliminate the need of chemical analyzer due to its high stability. Aforementioned factors will drive the segment growth during the forthcoming years.

Homecare settings segment is projected to witness highest growth rate of 6.8% over the forecast period. This is attributable to the increasing ageing population suffering from chronic diseases as well as favourable reimbursement policies that influence patients to undergo expensive treatments. Developments in healthcare facilities and increasing affordability of people owing to rising disposable incomes will boost the segment growth of medical fluid bags market over the coming years.

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U.S. dominated the medical fluid bags market in 2017 and will witness robust growth over the forecast period owing to the high prevalence of chronic diseases coupled with favorable reimbursement policies. Various government initiatives such as Affordable Care Act (ACA) aimed at improving quality of healthcare, increasing access and reduction of costs will boost the market growth during the forthcoming years.

Medical Fluid Bags Market by Product
o Blood Bags
o Intravenous Bags
o Drain Bags
o Surgical Bags
o Urinary Bags
o Enema Bags
o Biohazard Disposable Bags
o Breast Milk Bags
o Reagent Bags
o Dialysis Bags

Medical Fluid Bags Market by Material
o PVC Compounds
o Polyolefins
o Thermoplastic Elastomers
o Thermoplastic Polyurethanes