Summary
The pressure infusion bags market is expected to register a CAGR of 5.89% during the forecast period.
The COVID-19 pandemic had a significant impact on the market since the demand for pressure infusion bags increased considerably during the COVID-19 lockdown with the number of COVID-19 cases increasing at a faster rate with increased hospital emergency department admissions. For instance, according to an article published by PubMed in September 2021, a study was conducted in the United States which showed that COVID-19-related emergency visits increased for persons aged 0-4, 5-11, and 12-17 years, and hospital admissions of patients with confirmed COVID-19 increased for persons aged 0-17 years during 2021. The article also stated that the proportion of COVID-19 patients aged 0-17 years who were admitted to an ICU ranged from 20% and 18% during July and August 2021. Thus, the pressure infusion market was significantly impacted by the COVID-19 pandemic. However, as the pandemic has subsided currently, the studied market is expected to have stable during the forecast period of the study.
Certain factors that are driving the market growth include the rising prevalence of chronic diseases and surge in emergency transfusion cases and technological advancements, and increasing R&D initiatives. According to the data published by the Australian Institute of Health and Welfare in July 2022, it is estimated that almost half (47%, or 11.6 million) of Australians have one or more common chronic health conditions (including diabetes, cancer, mental and behavioral conditions, and chronic kidney disease) in 2021. Therefore, as the number of chronic disease patients increases, the demand for infusion bags will increase over the projected period.
Moreover, according to an article published by JAMA Network in June 2022, a study was conducted in Sweden which showed that the prevalence and burden of atherosclerosis in the general population have been very high, and the estimated prevalence of poly-vascular atherosclerosis ranged from 3% to 42%. The treatment of diseases like atherosclerosis includes surgical procedures, which will lead to more usage of pressure infusion bags.
The pressure infuser has also become a necessary component of various medical procedures such as rapid infusion of blood, blood products, blood expanders, IV solutions, and invasive pressure monitoring procedures. For instance, according to an article updated by NCBI in August 2022, in an acute setting, where the clinical situation might indicate a rapid infusion of crystalloid fluids, pressure infusion bags are used to achieve a higher infusion rate.
Thus, all aforementioned factors, such as the increasing number of chronic diseases and the technological advancement in pressure infusion bags, are expected to boost the market over the forecast period. However, the lack of skilled professionals is expected to impede the growth of the market.
Pressure Infusion Bags Market Trends
Blood and Drug Infusion is Expected to show Lucrative Growth in the Pressure Infusion Bags Market Over the Forecast Period
Blood and drug infusion is carried out whenever any surgical procedure takes place that involves loss of blood or the need for drug injection through infusion bags. As the prevalence of chronic diseases is rising around the world, the treatment of various chronic diseases has been increasingly prioritized by the global health community or governments, even in low- and middle-income countries. As a result, the demand for rapid fluid transfusion has risen significantly, in order to address the global disease burden, thus leading to a rise in the utilization and adoption of pressure infusion bags.
The growing prevalence of chronic diseases and the growing research on managing diseases such as cardiovascular diseases are expected to enhance the adoption of pressure infusion bags for drug and blood infusion. For instance, according to an article published by the Annals of the Indian Academy of Neurology in October 2021, the annual stroke incidence among younger individuals was 46 per 100,000 in India in 2021. Moreover, chronic diseases are mainly associated with increasing age, so the increasing geriatric population is also expected to enhance the segment growth.
Moreover, there are few types of cancer which requires surgical intervention, thus pressure infusion bags are also used during those procedures. Thus, the rising prevalence of cancer is also expected to boost the growth of the segment. For instance, according to the data published by National Cancer Center Japan in June 2022, an estimated 1,019,000 new cases of cancer are expected in Japan in 2022, out of which 158,200 new cases of colon/rectum cancer, 132,100 cases of stomach cancer, 128,800 cases of lung/trachea cancer, 96,400 cases of prostate cancer, and 95,000 cases of breast cancer are expected.
Hence, growing prevalence of chronic diseases and the growing research on managing diseases such as cardiovascular diseases, and risong geriatric populations, the studied segment is expected to grow in the future.
North America is Expected to Hold a Significant Share in the Pressure Infusion Bags Market Over the Forecast Period
North America is expected to hold a significant share of the pressure infusion bags market primarily due to high awareness regarding such health conditions. In addition, the rising prevalence of various chronic conditions is also fueling market growth across the region.
According to the National Spinal Cord Injury Statistical Center in 2022, about 30% of persons with spinal cord injury (SCI) are re-hospitalized one or more times during any given year following injury, and among those re-hospitalized, the length of hospital stay averages about 18 days. Hence, the high burden of spinal cord injury in the United States is expected to increase spinal cord surgeries which will increase the usage of pressure infusion bags.
Moreover, the rising incidence of spinal cord injury in Canada is also expected to enhance the market growth in the region. For instance, according to an article published by frontiers in September 2022, it is estimated that in Canada more than 86,000 people are affected by spinal cord injuries every year, from either a traumatic (e.g., fall) or non-traumatic injury (e.g., tumor). Hence, due to the rising need for blood transfusion due to these injuries, the usage and adoption of pressure infusion bags are expected to grow significantly across the region.
Furthermore, according to the data from the National Safety Council in 2021, an estimated 3.2 million people were treated in emergency departments for injuries involving sports and recreational equipment in the United States in 2021. The activities most frequently associated with injuries are exercise, cycling, and basketball. These injuries are also expected to increase the adoption of pressure infusion bags.
Hence, the aforementioned factors such as the increasing number of surgeries related to various injuries, are expected to boost the growth of the market in the North America Region.
Pressure Infusion Bags Industry Overview
The pressure infusion bags market is moderately competitive and consists of a few major players. Market players are focusing on geographic expansions, new product launches, and the development of new products. Companies like Eakin Healthcare Group (Armstrong Medical Inc.), Merit Medical System, ICU Medical Inc.?, Tapmedic LLC?, and SunMed hold a substantial market share in the market.
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