Market Size of IV Bags Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.30 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
IV Bags Market Analysis
The IV bags market is expected to register a CAGR of 5.3% over the forecast period.
The COVID-19 pandemic significantly impacted the growth of IV bags. The demand for IV infusion therapy increased due to the rise in patients with coronavirus infections and higher hospitalization rates during the pandemic. For instance, according to an article published in Nutrients in June 2022, it was observed that high-dose IV vitamin C therapy considerably improves exhaustion and fatigue-related symptoms such as sleep problems and loss of focus in long-term COVID-19 patients. It increased the demand for vitamin C IV infusion as administering Vitamin C to the patient's body expedites their recovery. It, thus, impacted the market growth during the pandemic. Moreover, with the released restrictions and resumed treatment services, the number of people visiting hospitals due to chronic diseases increased, further fueling the demand for IV bags for administering fluids. Thus, the studied market is expected to grow significantly over the forecast period.
Factors such as the increasing prevalence of chronic diseases, the growing number of surgeries and road accidents, and the rising geriatric population are expected to boost the market growth over the forecast period.
The increasing burden of chronic diseases such as gastrointestinal diseases, cancer, and neurological diseases is the key factor driving the demand for IV bags in the market. For instance, as per the data from the National Institute of Health published in July 2022, the prevalence of gastroesophageal reflux disease (GERD) in western regions, including North America and Europe, is around 20% as of 2022. Moreover, as per the same source, in the United States, the prevalence of GERD was between 18.1% to 27.8% in 2022.
Additionally, according to the statistics published in the Cancer Facts and Figures 2023 report, in the United States, 297,790 women are expected to be diagnosed with invasive breast cancer in 2023, compared to 287,850 new cases in 2022. Also, according to the same source, in 2023, about 55,720 women are expected to be diagnosed with non-invasive (in situ) breast cancer in the United States, compared to 51,400 cases in 2022. It is expected to increase the demand for IV bags as cancer treatment deprives the human body of nutrition and affects the body by causing ulcers, gastrointestinal dysfunction, and physical blockages. It fuels the demand for delivering parenteral nutrition to patients, propelling market growth.
Furthermore, the increasing burden of road accidents and surgical procedures is expected to drive market growth. For instance, as per the StatBel statistics published in June 2023, there were 37,643 road traffic accidents in 2022, bringing the total of casualties to 46,074, including 42,134 slightly injured and 3,400 seriously injured in Belgium as compared to 34,640 road traffic accidents in 2021. Also, as per the data published by German Heart Surgery Report 2022, about 356 isolated heart transplantations, 228 isolated lung transplantations, and 5 combined heart-lung transplantations were performed in 2022 in Germany as compared to 329 isolated heart transplantations, 254 isolated lung transplantations, and one combined heart-lung transplantations were performed in 2021. Thus, the increasing number of accidents and surgeries necessitate fluid administration, which is expected to increase market growth.
Moreover, the rising product launches increase the availability of different types of IV bags in the market, which is expected to contribute to market growth. For instance, in March 2021, Fagron Sterile Services (FSS) introduced a new platform with multiple presentations of fentaNYL, HYDROmorphone, and midazolam, available for Intravenous (IV) Bags. FSS planned to add other IV Bag medications, such as oxytocin, NORepinephrine, Vancomycin, Ketamine, and PHENYLephrine, into its product portfolio.
Therefore, the studied market is anticipated to grow over the forecast period due to the rising burden of gastrointestinal diseases, road accidents, surgeries, and product launches. However, the risk of leaching chemicals from plastic IV bags will likely hinder the growth of the IV bags market over the forecast period.
