IV Bags Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 - 2027
Albany, NY -- (SBWIRE) -- 03/21/2018 -- The global IV bags market is a choc-o-bloc with companies with large companies operating in global markets and the small ones in regional markets. This renders a fragmented albeit competitive vendor landscape. Keen players in the market are expending money on product innovation and improvement of existing products to gain competitive advantage. These companies are also resorting to strategic partnerships and alliances that will make this market consolidated to some extent.
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Key participants in the global IV bags market include B.Braun Melsungen AG, Baxter international Inc., Hospira Inc., West Pharmaceutical Services Inc., Wipak Group, Technoflex S.A., Fresenius SE & Co. KGaA, Sippex, Polycine GmbH, Kraton Corporation, The Metrix Company, Medicopack A/S, Macopharma SA, Haemotronic S.p.A, Renolit Solmed, Otsuka Pharmaceutical India Private Limited, Alfa Laboratories, and Qosina Corporation.
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The primary factor driving the global IV bags market is the rising adoption of injection-based therapies and increasing prevalence of chronic diseases. IV bags are extensively used for patients to deliver liquid substances and other nutritious compounds who are unable to ingest anything orally. IV bags are a crucial element of parenteral nutrition where they are highly preferred to administer compounds such as amino acids.
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Apart from this, the rising ageing population globally is also contributing to the growth of the global IV bags market. The old age which is usually associated with health conditions impairs the ability to administer drugs and vital nutrients orally. This necessitates efficient drug administration methods such as IV bags to administer the same. IV drugs are preferred over oral drugs as the former generate results in less time and have higher accuracy. IV bags are also used for this population to provide vital nutrients due to loss of ability to consume orally.