Report ID: SQSG35A2044
Report ID:
SQSG35A2044 |
Region:
Global |
Published Date: April, 2024
Pages:
157
|Tables:
65
|Figures:
75
Sterile Tubing Welder Market size was valued at USD 2.2 billion in 2019 and is poised to grow from USD 2.33 billion in 2023 to USD 3.87 billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).
Sterile tubing welders were created in order to aseptically connect two lengths of compatible thermoplastic tubing. Two ends of tubing from a similar module are firmly inserted into the tube clamp assembly as part of the welding setup. Sterile tubing welders produce a quick and secure connection regardless of whether dry tubing or wet tubing is being connected, maintaining a functionally closed system.
The rising number of blood transfusions and donations daily are supporting the market growth. According to recent studies by WHO, there happens, blood donations total about 118.54 million worldwide every year. 16% of the world's population lives in high-income countries, where 40 percent of these are collected. A total of 106 million donations were reportedly collected by around 13 300 blood centers throughout 169 nations. Additionally, it is predicted that increased demand for innovative medical equipment and rising healthcare costs would both contribute to the market's expansion in the upcoming years.
Sterile tube welders can be used in biotechnology applications when larger bore tubing is involved. It is possible to install a pre-sanitized filter into a closed system when using sterile tubing welders for the biopharmaceutical manufacturing of bulk drug substances, which is expected to drive the market for sterile tubing welders in the years to come. The main factor driving the sterile tubing welder market may be the fact that these devices are made to comply with current regulations and standards in order to maintain the shelf life of blood products. Sterile connections to cell cultures and fermenters can be made in laboratories with the aid of sterile tubing welders, and the triggered use is projected to advance the sterile tubing welder market.
US Sterile Tubing Welder Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global sterile tubing welder market is segmented based on the application, end use, and region. Based on application, the sterile tubing welder market is segmented into biopharmaceutical, blood processing, diagnostic laboratories, and others. Based on the end use, the sterile tubing welder market is segmented into hospitals, research clinics, blood centers, and others. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Sterile Tubing Welder Market Analysis by Application
Based on application, the sterile tubing welder market is segmented into biopharmaceutical, blood processing, diagnostic laboratories, and others. The blood processing segment commanded the majority of the market in 2021. Over the forecast period, it is projected that the segment will experience profitable growth. The main driver for the market is expected to be the rising demand for blood and blood products. Due to the high demand for cell and gene therapies, personalized medicine, and blood disorders like haemophilia, this is to be expected. For instance, nearly 1,125,000 men are thought to be affected worldwide by hemophilia. Whereas there are the larger numbrer of blood diagnosis happening regularly and which is a primitive stage in the identification of cause of disease. Thus, the diagnostic laboratories segment is expected to grow at faster rate in near future.
Sterile Tubing Welder Market Analysis by End Use
Based on the end use, the sterile tubing welder market is segmented into hospitals, research clinics, blood centers, and others. In 2021, the hospitals segment dominated the global market and accounted for the highest revenue share. Due to the presence of a variety of advanced hematology-related equipment in hospital settings, the segment is anticipated to grow profitably over the course of the forecast period. The number of visits to hospital facilities for the diagnosis and treatment of blood disorders has also increased due to the availability of a variety of wide treatment options. Additionally, a significant growth rate is expected for blood centres over the forecast period. This can be attributed to an increase in the demand for blood and blood products for the treatment of various blood disorders, including leukaemia, thalassemia, severe anaemia, and others. Additionally, it is anticipated that an increase in the number of traffic accidents around the world will increase demand for blood and blood products. This, in turn, is expected to help the global market expand over the course of the forecast period.
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North America dominated the global market in 2021. The market in this region is expanding as a result of a number of factors, including an increase in the prevalence of chronic diseases, recent technological developments, and a high demand for sterile and hygienic environments to prevent contamination. One of the main elements fuelling the market's expansion is the rising burden of chronic diseases in the United States. A total of 157 million people are thought to have at least one chronic condition, according to the National Health Council 2020 report. The market for sterile tubing welders will grow most rapidly in North America, followed by Europe, as a result of the region's increasing demand for sterile environments to prevent contamination.
Asia Pacific held the second largest percentage of market revenue. Growth is the result of a rise in the demand for sterile tubing welders in nations like China, India, and Japan. The market for sterile tubing welders will be positively impacted by China's rapid growth in the pharmaceutical and biotechnology sectors.
Additionally, it is anticipated that the increased demand for sterility in blood products and pharmaceuticals will support the market for sterile tubing welders. The pharmaceutical industry is anticipated to be stimulated by the expected rise in diseases in Latin America and the Middle East, which will drive up demand for sterile tubing welders in the area.
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Sterile Tubing Welder Market Driver
Sterile Tubing Welder Market Restraint
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Global sterile tubing welder market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Top Players in the Global Sterile Tubing Welder Market
Sterile Tubing Welder Market Recent Developments
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According to our global sterile tubing welder market analysis, in terms of application, the segment of blood processing held the larger market share. The main driver for the market is expected to be the rising demand for blood and blood products. In terms of end use, the hospitals segment dominated the global market and accounted for the highest revenue share. Due to the presence of a variety of advanced hematology-related equipment in hospital settings, the segment is anticipated to grow profitably over the course of the forecast period.
Report Metric | Details |
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Market size value in 2023 | USD 2.2 billion |
Market size value in 2031 | USD 3.87 billion |
Growth Rate | 5.8% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Historical Year | 2019 |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Sterile Tubing Welder Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Sterile Tubing Welder Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Sterile Tubing Welder Market:
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Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
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REQUEST FREE CUSTOMIZATIONSterile Tubing Welder Market size was valued at USD 2.2 billion in 2019 and is poised to grow from USD 2.33 billion in 2023 to USD 3.87 billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).
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Report ID: SQSG35A2044