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Description
IV Bags Market size was estimated at USD 2.6 billion in 2021, growing at a CAGR of 10.2% during the forecast period 2022-2028. IV bags are used in intravenous therapy to provide life-sustaining IV fluids, medications, and electrolytes to the patients. In intravenous therapy liquid directly enters the vein and shows faster therapeutic action compared to oral therapy. Generally, polypropylene bags are used as IV bags due to their inert nature. Global IV bags market growing at a significant rate owing to an increase in the geriatric population leading to an increase in the prevalence of chronic diseases and the need for long-term treatment for these diseases. Most of the market players are actively involved in the development of newer products for intravenous therapy. Moreover, product approval, product launches, acquisitions and mergers, and collaborations are the key strategies adopted by the market players for dominating the IV bags market.
Key Developments:
In August 2017, Fresenius Kabi Canada launched Moxifloxacin Injection 1.6mg/mL freeflex Bag 250 mL
In November 2016, Mallinckrodt Pharmaceuticals received FDA prior approval supplement for Ofirmev (Acetaminophen) injection available in IV bag.
In December 2014, Taiho Pharmaceutical Co., Ltd., received approval for the manufacture and marketing of Zosyn 4.5 for IV bag, that contains injectable antibiotic with β-lactamase inhibitor.
