The IV bags market is estimated to grow at a CAGR of 5.38% to reach a market size of US$ 2,462.758 million in 2024 from US$ 1,798.424 million in 2018. IV Bags are used for delivering of fluid substances directly into the veins. The growing number of chronic diseases along with rising usage of IV Bags for delivering of the medication directly to the veins are driving the market for IV bags. Further, the rising number of healthcare centres in urban areas of many countries is expected to boost he IV Bag market during the forecast period. Moreover, the governmental influence to increase the number of blood banks along with rising need for blood storage is anticipated to be a key factor propelling the demand for IV bags in the coming years. Additionally, growing geriatric population is predicted to fuel the market. The market for IV Bags has been segmented by material type, capacity, chamber type, end user and geography. In the chamber type segment, the multi chamber IV bags is projected to grow at a significant rate owing to the easy delivering of two or more fluids at the same time. In the end user segment, hospitals are anticipated to hold a major share owing to the wide usage of IV Bags in hospitals. Geographically, North America is projected to be a significant shareholder owing to high presence of healthcare institutions in the region. Asia-Pacific is projected to grow at a substantial rate on account of the increasing construction of healthcare institutions.
Growing need for blood storage
Rising number of chronic diseases
Environment concerns due to difficult recycling
The major players profiled in the IV Bags market include Sippex, Kraton Corporation, Renolit Solmed, Alfa Laboratories, Polycine Gmbh, Haemotronic S.P.A., Baxter International Inc., Hospira Inc., Technoflex S.A., The Metrix Company, Medicopack A/S, Wipak Group, West Pharmaceutical Services Inc., and Qosina Corporation.
The IV Bags market has been analyzed through the following segments:
By Material Type
Less than 100 ml
Above 1000 ml
By Chamber Type
By End User
Middle East and Africa
Frequently Asked Questions (FAQs)
Q1. What will be the IV bags market size by 2024?
A1. The IV bags market is estimated to reach a market size of US$2,462.758 million in 2024.
Q2. What are the growth prospects for IV bags market?
A2. The IV bags market is estimated to grow at a CAGR of 5.38% over the forecast period.
Q3. What is the size of global IV bags market?
A3. IV Bags market was valued at US$1,798.424 million in 2018.
Q4. Which region holds the largest market share in the IV bags market?
A4. Geographically, North America is projected to be a significant shareholder owing to the high presence of healthcare institutions in the region.
Q5. What factors are anticipated to drive the IV bags market growth?
A5. The growing number of chronic diseases along with rising usage of IV Bags for delivering the medication directly to the veins are driving the market for IV bags.