IV Fluid (BFS Technology)
One of the fastest growing segments of the healthcare industry are infusion therapy services, including intravenous fluid and medication delivery. As hospitals and other healthcare facilities modernize their operations, they are taking advantage of more efficient ways to dispense medication and fluid to patients. This has resulted in an increase in demand for safe and reliable products, as well as a growth in the number of treatment facilities providing these treatments to patients. This increased demand has created a great business opportunity for those looking to manufacture IV fluid products on an industrial scale.
BFS Technology sells patented IV fluid container technology which preserves the sterility of fluids in challenging environments. The one-way, safety-lock design prevents opening of the container until all contents are removed. BFS is FDA-approved for use with infusions, electrolytes, and medications; non-pyrogenic: maintains shelf life of product indefinitely; does not contact blood/urine/other bodily fluids during use.
Benefits over Traditional Technology
The greatest benefits of using BFS as opposed to traditional technology include:
1. Cost Reduction – With IV fluid manufacturing, there is no need to purchase large quantities of prefilled syringes and cartridges. You only buy what you need when you need it which eliminates high upfront costs that can make it difficult for some providers to invest in this new technology.
2. Patient Safety – With BFS systems, the risk of cross contamination is eliminated because there are no shared needles involved during patient administration.
3. Improved Flow Rates and Efficiency – There is more precise control over how much fluid is administered with each pump, which improves flow rates and efficiency.
4. No Risk of Running Out Of Supplies – Unlike other technologies where supplies have to be ordered well in advance, with BFS there’s no risk of running out of IV solutions when supplies are manufactured on site within your own facility.
5. Less Expensive Supplies for Home Care Providers – When administering IV therapy in their homes, many people use standard saline bags from the hospital to fill their prefilled syringes. These bags cost hospitals less than $1 per liter but cost individuals upwards of $30 per liter through online retailers. Buying directly from manufacturers will help keep costs down while saving time and money by avoiding multiple trips to the pharmacy or medical supply store.
6. Accessible To a Broader Range Of Patients – People suffering from chronic diseases, such as diabetes and kidney disease, may need to receive IV therapy at home on a regular basis. With BFS they’re able to receive this treatment without visiting a clinic or hospital every day or having to rely on costly prescriptions.
7. Easier to Control Treatment Frequency and Duration – IV therapies delivered through prefilled syringes last just 12 hours but those delivered with BFS last up to 48 hours before they expire.
Benefits of Starting IV Fluid Business
IV fluid manufacturing is an interesting and lucrative business opportunity for any entrepreneur. With many IV fluids, like lipids, on the market and in high demand, it’s a great time to start this kind of business. If you’re looking for something to get into and want to know more about the possibilities of getting started with this kind of business venture, here are some reasons why starting an IV fluid manufacturing company might be just what you’re looking for.
1.A lot of people need IV fluid – there are all sorts of different types and uses for them, so there will always be a need for IV fluids.
2. It has multiple applications – some people use them as a medicine or nutritional supplement, others as blood substitutes in surgery; whatever the case may be, there will always be demand from customers who need them.
3. The FDA approves – these products are also approved by the FDA, which means that they’ve gone through rigorous safety testing and research to ensure that they’re safe for people who use them.
4. The process is relatively easy – one other thing that makes this a good business idea is that if you have basic knowledge of chemistry and biology, you can easily create your own formula with minimal expense.
5. You don’t need a huge capital investment – since there are so many options out there when it comes to beginning this type of business, whether you’re going the small route or hoping to grow into something larger down the line (if not immediately), it doesn’t require too much money up front.
6. You can diversify your profits – even though IV fluid manufacturing is definitely a successful industry, there are also other ways to make money while working in this field.
Indian Market Outlook of IV Fluid (BFS Technology)
Healthcare is one of the fastest growing industries in India. The sector has been spurred by demographic factors and increasing urbanization, accompanied by a rising income level.
India’s total healthcare expenditure as percentage of its GDP was 5.5% in 2010 which has crossed 10% now, making it an emerging medical care hub for global players seeking access to less mature markets. The country is also amongst the top three countries with highest number of medical devices manufacturers.
Besides, there are nearly 800 new hospitals opening every year across various cities in India. These hospitals require high volumes of intravenous fluids, thus rendering this market highly lucrative.
Furthermore, most of these patients who require intravenous fluids fall into the vulnerable category like neonates, geriatrics and pregnant women. They may not be able to pay high prices for treatments; hence bulk purchasing can lead to significant discounts on the price of IV fluid production, while ensuring sustainable profits.
