The global sterile tubing welder market is estimated to garner a revenue of USD 3463658.4 Thousand by the end of 2030 by growing at a CAGR of 4.49% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2020, the market registered a revenue of USD 2247000.0 Thousand. The growth of the market can be attributed to growing concern for the rising number of blood disorders worldwide, followed by the rising need to follow protocols regarding sterile and hygienic environment in hospital and clinical labs. Sterile tubing welders helps to maintain the strict hygiene protocols by helping lab workers during the processing of blood, quality control sampling, and others, which is expected to drive the demand for the product in the coming years. Besides this, the growing concern for chronic diseases worldwide, which is raising the need for different blood transfusion processes, is also estimated to boost the market growth during the forecast period. According to the statistics by the Food and Agriculture Organization (FAO) of the United Nations, the proportion of the burden of NCDs was expected to increase up to 57% by the end of 2020. Moreover, by the same year, chronic diseases were expected to account for close to 3 quarters of total deaths globally.
Moreover, the increasing awareness for blood donations worldwide, backed by the several supportive initiatives of the government of nations worldwide, is also anticipated to create numerous opportunities for market growth. According to the statistics by the World Health Organization (WHO), 123 out of 171 countries, which is around 72% of the total reporting countries, had a national blood policy. Moreover, 110 out of 171 countries, or 64% of the reporting countries had specific legislation regarding the quality of blood transfusion and for the safety protocols regarding the transfusion process. Moreover, the rising healthcare expenditure, along with the growing need for advanced medical devices are some of the additional factors estimated to contribute to the market growth in the coming years.CLICK TO DOWNLOAD SAMPLE REPORT
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.
FREQUENTLY ASKED QUESTIONS
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.
The market is anticipated to attain a CAGR of 4.49% over the forecast period, i.e., 2021 – 2030.
The availability of low-cost alternatives and the stringent government norms for manufacturing sterile tubing welders are estimated to hamper the market growth.
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.
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.
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.
The market is segmented by application, end-user, and by region.
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.
Global Sterile Tubing Welder Market TOC
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