< Key Hightlight >

MARKET OUTLOOK

According to the Triton Market Research’s report, it is assessed that the non-PVC IV bags market in Latin America will grow at a CAGR of 6.62% during the considered years of 2022-2028. Brazil, Mexico, and Rest of Latin America shape the market in this region.

Mexico is the second-largest developed economy in Latin America after Brazil. The rising healthcare spending capacity has increased the demand for technologically advanced healthcare solutions. Additionally, the government has imposed regulations pertaining to the use of PVC as a raw material for the production of medical devices. As per news reports, the country took a bold step towards reducing single-use plastic bags to cope with growing garbage. In this regard, the new law prohibits the commercialization of plastic bags in supermarkets and stores. Such steps have accelerated the adoption of non-PVC IV bags in the country, simultaneously boosting the non-PVC IV bags market on a growth path. 

In Rest of Latin America, governments are striving to improve healthcare infrastructure. For instance, Chile implemented a law that prohibits the delivery of plastic bags. Hence, the country has emerged as the first nation in the region to ban plastic bags. As a result, approximately five billion plastic bags have been avoided since the implementation of the law. Moreover, such steps indicate the country’s step towards adopting eco-friendly bags. Hence, these factors are expected to support the growth of the non-PVC IV bags market in Chile and the rest of the region in the next few years. 

COMPETITIVE OUTLOOK 

The prominent firms in the non-PVC IV bags market consist of Shanghai Xin Gen Eco Technologies, Baxter International Inc, Fresenius Kabi, Polycine GmbH, ICU Medical, Pfizer Inc, and Medipharmaplan.