Sterile Tubing Welder Market Segmentation by Application (Component Pooling, Quality Control Pooling, Leukoreduction, Fluid Replacement, Pathogen Reduction, Cell Washing & Freezing, and Others); and by End-User (Hospitals, Diagnostic Laboratories, Blood Banks, Research Organizations, Biopharmaceutical Companies) – Global Demand Analysis & Opportunity Outlook 2020-2030
Buy Now Report ID: 3644 | Published Date: Feb 07, 2023Global Sterile Tubing Welder Market TOC
Growth Drivers
Challenges
Regionally, 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. The North America sterile tubing welders market is anticipated to garner the largest revenue of USD 1695833.0 Thousand by the end of 2030, up from a revenue of USD 1116759.0 Thousand in the year 2020. The surge in need for blood platelets and plasma in the region, along with the increasing awareness for blood donation activities are some of the major factors anticipated to drive the market growth during the forecast period. For instance, in the United States, it has been estimated that close to 35000 units of red blood cells (RBC) are required every single day, while, about 7000 units of platelets and 10000 units of plasma are also required in the country.
On the other hand, the market in Europe is projected to generate the second-largest revenue of USD 893262.0 Thousand by the end of 2030, and further grow with a CAGR of 4.60% during the forecast period. The market in the region is segmented by country into the United Kingdom, Germany, Italy, France, Spain, Russia, Netherlands, and the Rest of Europe. Out of these, the market in Germany is anticipated to grow with the largest revenue of USD 154578.3 Thousand by the end of 2030, up from a revenue of USD 92823.6 Thousand in the year 2020.
The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, 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).
The global sterile tubing welder market is segmented by application into component pooling, quality control pooling, leukoreduction, fluid replacement, pathogen reduction, cell washing & freezing, and others. Out of these, the component pooling segment is anticipated to garner the largest revenue of USD 818010.8 Thousand by the end of 2030, up from a revenue of USD 538483.2 Thousand in the year 2020. By end-user, the market is segmented into hospitals, diagnostic laboratories, blood banks, research organization, and biopharmaceutical companies. Out of these, the hospitals segment is anticipated to garner the largest revenue of USD 1065085.9 Thousand by the end of 2030, up from a revenue of USD 707444.5 Thousand in the year 2020. The segment is further anticipated to grow with a CAGR of 4.24% during the forecast period.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global sterile tubing welder market that are included in our report are 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.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global sterile tubing welder market that are included in our report are 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.
April 27, 2017: The parent company of Vante Inc., Machine Solutions Inc., announced that it has acquired the leading manufacturer of tube sealing equipment, SEBRA. The acquisition was made from Haemonetics Corporation.
April 13, 2018: One of the subsidiaries of Saint-Gobain Group, Saint-Gobain Performance Plastics announced that it has acquired the Irish company, Micro Hydraulics’s pharmaceutical business. This company is known for manufacturing and supplying single-use fluid handling systems and components in high performance plastics, which are used widely in the biopharmaceutical and pharmaceutical industries.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: The increasing blood transfusions worldwide, rising healthcare expenditure, and the growing concern for the increasing prevalence of chronic diseases are some of the major factors anticipated to drive the market growth.
Ans: The market is anticipated to attain a CAGR of 4.49% over the forecast period, i.e., 2021 – 2030.
Ans: The availability of low-cost alternatives and the stringent government norms for manufacturing sterile tubing welders are estimated to hamper the market growth.
Ans: The market in North America is anticipated to garner the largest revenue of USD 1695833.0 Thousand by the end of 2030 and display significant business opportunities.
Ans: The major players in the market are Genesis BPS, TERUMO BCT, INC., Wuhan bms Medicaltech Co., Ltd., Sartorius AG, MGA Technologies, Global Life Sciences Solutions USA LLC (Cytiva), and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by application, end-user, and by region.
Ans: The hospitals segment is anticipated to garner the largest revenue of USD 1065085.9 Thousand by the end of 2030 and display significant growth opportunities.
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