Ethylene-vinyl Acetate [EVA] Infusion Bags Market Revenue Growt
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Posted by Reports Data - Filed in Health - 198 views
The global market for Ethylene-vinyl Acetate (EVA) infusion bags reached a size of USD 1.2 billion in 2022 and is anticipated to achieve USD 2.5 billion by 2032, displaying a robust compound annual growth rate (CAGR) of 7.5% throughout the forecast period. The significant drivers behind this growth include the increasing prevalence of chronic illnesses and the growing demand for intravenous therapy in hospitals and clinics worldwide.
Healthcare professionals prefer EVA infusion bags because of their exceptional physical characteristics, such as flexibility, durability, and resistance to breakage. These bags are typically constructed with Ultraviolet (UV) protection materials and incorporate multi-layer materials with built-in barriers against Oxygen (O2) and Carbon Dioxide (CO2), along with various packaging options.
Additionally, the aging population and the escalating incidence of chronic conditions like cancer, diabetes, and cardiovascular disorders are contributing significantly to the market's revenue growth. With an estimated 1.5 billion people over the age of 65 by 2050, the demand for medical care and EVA infusion bags is expected to rise.
The adoption of technologically advanced EVA infusion bags is also expected to fuel revenue growth during the forecast period. These bags are known for their compatibility with various medications and their ability to withstand high temperatures and pressure. The healthcare industry's need for EVA infusion bags is predicted to rise as specialized features like multiple ports, easily readable volume indicators, and personalized labeling are developed.
Furthermore, the incorporation of advanced safety features such as needle-free couplings and closed systems is another factor projected to drive market revenue growth. This is driven by an increasing awareness among patients and healthcare professionals about the importance of infection prevention and control.
Nevertheless, the availability of alternative drug delivery methods, the high cost of technologically advanced EVA infusion bags, and strict regulations governing the production and distribution of medical devices are significant factors that could impede market revenue growth.
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Competitive Landscape:
- Baxter International Inc.
- B. Braun Melsungen AG
- Fresenius SE & Co. KGaA
- Nipro Corporation
- Renolit SE
- Kraton Corporation
- PolyCine GmbH
- Hospira, Inc.
- Qingdao Kangdeli Industrial & Trading Co., Ltd.
- Jiangsu Hengrui Medicine Co., Ltd.
Notable Innovation of Ethylene-vinyl Acetate [EVA] Infusion Bags Market
One notable innovation in the Ethylene-vinyl Acetate (EVA) infusion bags market is the development of EVA-based smart infusion bags. These smart infusion bags incorporate advanced technology to enhance patient safety, medication administration accuracy, and overall healthcare efficiency. Here are some key features and benefits of this innovation:
- Integrated Electronic Monitoring: Smart EVA infusion bags are equipped with electronic monitoring systems that track various parameters, such as the flow rate of medication, the volume of fluid infused, and the remaining dosage. This real-time monitoring helps healthcare providers ensure that patients receive the right amount of medication at the prescribed rate.
- Wireless Connectivity: Many smart EVA infusion bags are designed to connect wirelessly to hospital information systems, allowing healthcare professionals to remotely monitor and adjust infusion parameters. This connectivity also facilitates automatic data recording, reducing the risk of manual errors in documentation.
- Alerts and Alarms: Smart EVA infusion bags can generate alerts and alarms in case of deviations from the prescribed infusion parameters. These alerts can help prevent underdosing or overdosing of medication, minimizing adverse events.
- Dose Calculation Assistance: Some smart infusion bags come with built-in dose calculation algorithms, which can assist healthcare providers in determining the appropriate medication dosage based on a patient's weight, age, and medical history.
- Drug Compatibility Check: Advanced EVA infusion bags can also include a drug compatibility checker, ensuring that multiple medications being administered simultaneously do not interact negatively, reducing the risk of complications.
- Data Analytics: The data collected from smart infusion bags can be analyzed to identify trends and patterns in medication administration. This information can be valuable for quality improvement initiatives and optimizing patient care.
- Improved Workflow: These innovative bags can streamline workflow for healthcare professionals by reducing the need for manual calculations, documentation, and constant monitoring, allowing them to focus more on patient care.
- Reduced Medication Errors: By providing real-time data and alerts, smart EVA infusion bags contribute to a significant reduction in medication errors, enhancing patient safety and outcomes.
- Environmental Benefits: EVA infusion bags are often more environmentally friendly than traditional PVC-based bags, as EVA is less toxic and produces fewer harmful byproducts during manufacturing and disposal.
Overall, the introduction of smart EVA infusion bags represents a significant advancement in the field of intravenous medication administration, promoting patient safety, reducing errors, and improving the efficiency of healthcare delivery. These innovations have the potential to enhance the quality of care and ultimately benefit both healthcare providers and patients.
Segments covered in the report:
Segments covered by Application Outlook, End-use Industry, Regional Outlook
By Product Type Outlook
- Single-chamber
- Multi-chamber
By Application Outlook
- Chemotherapy
- Parenteral Nutrition
- Others
Regional Outlook
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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