Research Nester published a report titled “Sterile Tubing Welder Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global sterile tubing welder market in terms of market segmentation by application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global sterile tubing welder market is anticipated to grow with a CAGR of 4.49% during the forecast period, i.e., 2021 – 2030. The market is segmented by end-user into hospitals, diagnostic laboratories, blood banks, research organization, and biopharmaceutical companies, out of which, the hospitals segment is anticipated to garner the largest revenue of USD 1065085.9 Thousand by the end of 2030, by growing with a CAGR of 4.24% during the forecast period. Moreover, in the year 2020, the segment registered the largest revenue of USD 707444.5 Thousand in the year 2020.
The global sterile tubing welder market is estimated to garner a revenue of USD 3463658.4 Thousand by the end of 2030, up from a revenue of USD 2247000.0 Thousand in the year 2020. Growing concern for the rising prevalence of chronic diseases worldwide, followed by the increasing number of blood disorders, and the need for hygienic environment in hospital and clinical laboratories for performing different tasks related to the blood, such as blood processing, and quality control sampling among others, are some of the major factors anticipated to drive the market growth.
By region, the global sterile tubing welder market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in North America is anticipated to garner the largest revenue of USD 1695833.0 Thousand by the end of 2030, backed by the growing awareness for blood donation activities amongst the individuals in the region, and for the growing need for blood platelets and plasma. Moreover, the market in the region generated a revenue of USD 1116759.0 Thousand in the year 2020.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Concern for the Rising Prevalence of Chronic Diseases Worldwide
The proportion of the burden of NCDs, according to the statistics by the Food and Agriculture Organization (FAO) of the United Nations, was expected to increase up to 57% by the end of 2020. Besides this, chronic diseases were expected to account for about 75% of the share of total deaths in the same year.
With the growing concern for chronic diseases worldwide, the need for sterile tubing welders is also expected to grow significantly in the coming years. The treatment of several chronic diseases requires blood transfusion, which is one of the major factors anticipated to drive the demand for the product. Besides this, the rising need for maintaining a hygienic and sterile environment during the transfusion processes and to keep the collected samples leak free, are also driving the need for the greater adoption of the product. Such factors are anticipated to drive the growth of the global sterile tubing welder market in the coming years.
However, the availability of low-cost alternatives and the stringent government norms for manufacturing sterile tubing welders are expected to operate as key restraint to the growth of global sterile tubing welder market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global sterile tubing welder market which includes company profiling of Genesis BPS, TERUMO BCT, INC., Wuhan bms Medicaltech Co., Ltd., Sartorius AG, MGA Technologies, Global Life Sciences Solutions USA LLC (Cytiva), Vante Biopharm/Sebra, Pall Corporation, Saint-Gobain Performance Plastics, Sentinel Process Systems Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global sterile tubing welder market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.