The global sterile tubing welder market size is expected to reach USD 3.19 billion by 2027, expanding at a CAGR of 4.6% over the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for blood, blood products, and biopharmaceutical products is anticipated to drive the market for sterile tubing welder.
Blood
transfusion is one of the frequently performed medical procedures. Severe road
traffic injuries, major surgical procedures, and hematology diseases, such as
thalassemia, anemia, and leukemia, are some of the key reasons for the
transfusion procedure. According to the Association for Safe International Road
Travel (ASIRT) article, nearly 20 to 50 million individuals are injured or
disabled in road accidents. Thus, high cases of road traffic injuries are anticipated
to fuel sterile tubing welder market growth.
Wastage
of collected blood due to contamination, blood bag leakages, improper storage,
and lack of proper handling facilities and qualified professionals are
anticipated to increase the demand for innovative and medically advanced
sterile instruments, such as automated sterile tubing welders. For instance, in
India, nearly 10% of blood components and around 71% of whole blood are wasted
each year due to the above-stated reasons.
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Further key
findings from the study suggest:
- Based on
mode, the automatic sterile tubing welders dominated the market in 2019
and is anticipated to witness the highest growth over the forecast period
due to ease of operation and reduced labor costs
- On the basis
of application, the blood processing segment held a substantial share in
2019 due to a large number of patients being treated using apheresis
annually across the globe
- By end use,
hospitals held a significant share in 2019 owing to rise in the adoption
of advanced instruments and enhanced services in these settings
- North America
dominated the market for sterile tubing welder in 2019. This can be
attributed to the presence of numerous biopharmaceutical companies and
high demand for biopharmaceutical products
- Asia Pacific
is anticipated to witness lucrative growth over the forecast period due to
a large number of clinical trials being conducted and rise in the number
of medical device companies in the region
- Some of the
key companies operating in the sterile tubing welder market are Sartorius
Stedim Biotech S.A., Terumo BCT Inc, GE Healthcare, MGA technologies,
VANTE Biopharm, Genesis BPS, Biomen Biosystems Company Ltd, Flex Concepts
Inc, and Shanghai Le Pure Biological Technology Co., Ltd.
- Mergers &
acquisitions are the key strategies adopted by the market players.
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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