Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 3.25 Billion | USD xx Billion | 6.4% | 2021 |
FrequentlyAsked Questions
The global increase in the number of geriatric and older persons is likely to boost the market. According to the World Health Organization, the share of the world population over 60 years old is predicted to rise by 22% by 2050, reaching 2 billion people. In the year 2020, the number of persons over 60 years old outweighed children under the age of five. By 2050, 80 percent of the world's elderly will be living in low- and middle-income countries. This is a significant problem for countries throughout the world since they must guarantee that their social and health systems are capable of dealing with this demographic transformation. Chronic obstructive lung disease, diabetes, obesity, and heart disease are all frequent illnesses in older people.
According to the Zion Market Research report, the global medical fluid bags market was worth about 3.25 (USD billion) in 2021 and is predicted to grow to around @ (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 6.4 percent.
Asia Pacific holds the major share in the global medical fluid market. This is primarily due to high patient population, increasing prevalence of chronic diseases, large number of geriatric population and emerging healthcare infrastructure. China and India are expected to remain the major revenue contributor in the regional market owing to huge patient population and presence of key vendors.
Major players operating in the global medical fluid bags market include Baxter International, B. Braun Medical, C.R. Bard (Becton, Dickinson and Company), Terumo Corporation, Coloplast, Fresenius Kabi, Pall Corporation, ConvaTec, Renolit, Maco Pharma, Smiths Medical, Technoflex, and Thermo Fisher Scientific
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