Bio Pharmaceutical Tubing Market REPORT OVERVIEW
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The global bio pharmaceutical tubing market size was USD 2995.19 million in 2021 and market is projected to touch USD 6388.3 million by 2031, at a CAGR of 7.87% during the forecast period.
To address the vital demands of the biopharmaceutical and medical sectors, biopharmaceutical tubing is specially created. This tubing is created by the extrusion process and is widely utilized in medication administration systems, feeding tubes, and peristaltic pumps as well as in a variety of minimally invasive applications, such as stent delivery systems, cardiology catheters, and urological retrieval devices. Furthermore, they are also employed in conjunction with IVs, biopharmaceutical laboratory equipment, and anesthesia and respiratory equipment. They provide outstanding thermal, mechanical, and chemical characteristics.
COVID-19 Impact: Supply Chain Disruptions to Impede the Market Growth
The market for biopharmaceutical tubing is seeing a conflicted response to the COVID-19. Increased COVID-19 infections in individuals with pre-existing illnesses like diabetes and asthma also has an impact on market expansion. Nebulizers, spacer devices, nasogastric tubes, and other equipment used in medication administration are in greater demand. In light of this, over the projected period, these variables will be the main drivers of demand for biopharmaceutical tubing. As a result of supply chain disruptions having a detrimental impact on the market for biopharmaceutical tubing, numerous nations have altered their medical device rules.
LATEST TRENDS
"Less Discomfort and Increased Health Issues to Augment the Market"
A minimally invasive medical treatment often involves putting a tiny device or implant into the body through an anatomical opening or an incision. Due to the utilization of small incisions, quicker patient recovery, and reduced discomfort experienced by the patients, the popularity of these operations has grown over the past few years. Additionally, these techniques have the advantage of causing less damage to muscles, nerves, tissues, and organs, causing less bleeding and scarring, and causing fewer injuries to tissues and less discomfort.
Demand for minimally invasive procedures has increased due to the rising incidence of conditions including arthritis, cancer, and cardiovascular disease, all of which need substantial surgical interventions. Cathodes and biopharmaceutical tubing are among the components that are in high demand as a result. Additionally, the cost of biopharmaceutical tubing systems is reasonable, and they help with processes that save time. For instance, using catheter tubing to catheterize the heart and the urine considerably reduces the length of time needed for the procedure. As a result, the need for minimally invasive medical treatments is increasing, and efforts are being made to make them more effective. This is one of the key factors driving biopharmaceutical tubing demand.
Bio Pharmaceutical Tubing Market Segmentation
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- By Type Analysis
By type, market is segmented into plastics, silicone, glass and metals. The plastics segment will dominate the market in the coming years.
- By Application Analysis
Based on applications, the market is classified into hospitals & clinics, ambulatory surgical centres, medical labs and others. The hospitals & clinics segment will lead the global share through 2031.
DRIVING FACTORS
"Rise in Senior Population and Geriatric Disorders to Propel the Market Demand"
A larger need for diagnostic tools and medicine delivery systems has been created by the rise in the senior population and the geriatric disorders that have followed. The prevalence of urological problems that call for catheterization is also rising as a result of it. In order to cut down on the expense and length of hospital stays as well as the danger of healthcare-associated infections, medical practitioners are also promoting self-catheterization (HAI). The prevalence of chronic illnesses, which may necessitate treatments requiring admission to intensive care units (ICUs), is also significantly influenced by aging. Thus, the rapid increase in the elderly population is directly correlated with the increase in demand for medical devices that include tubing, drug delivery, dialysis and cardiac bypass, peristaltic pumps, and sterile filling and dispensing systems. This is what propels the use of biopharmaceutical tubing systems.
"Demand for Ultra- Pure and Corrosion- Resistant System to Boost the Market"
The transfer of liquids must be done in a highly regulated environment because it is a crucial step in the manufacturing of complex active pharmaceutical ingredients (APIs), including vaccines and specific drugs for the treatment of cancer. This includes cough syrup manufacturing as well as the production of cough syrup. The pharmaceutical industries are therefore demanding ultra-pure and corrosion-resistant systems for liquid transfer that can withstand the harsh environment of chemicals, which is boosting the market growth of this segment. This is due to the growing emphasis on proper transfer tubing systems with increasing production capacities.
RESTRAINING FACTORS
"Government Regulations to Impede the Market"
The world's aging population and expanding interest in minimally invasive procedures are two major variables cited as the causes of the market's expansion. But over the projected period, it's anticipated that the government's rigorous regulatory environment for biopharmaceutical applications would limit market expansion.
Bio Pharmaceutical Tubing Market REGIONAL INSIGHTS
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"North America to Hold the Largest Global BioPharmaceutical Market Share"
North America dominated the market and contributed the largest percentage of worldwide revenue in 2021 because of its countries' strong industrial dynamism and quantity of commodities. The existence of a sizable senior population in developed nations like the U.S. and Canada, an advanced healthcare infrastructure, and patients with comparatively higher disposable income levels are some key factors driving the region's healthcare market.
The demand for products in Europe is anticipated to be driven by the region's developed medical infrastructure and rising healthcare costs. During the forecast period, it is also projected that steady demand for minimally invasive and diagnostic devices that employ biopharmaceutical tubing would propel market expansion.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
List of Market Players Profiled
- Lubrizol Corporation (U.S.)
- Putnam Plastics (U.S.)
- Corning (U.S.)
- Freudenberg Group (Germany)
- WL Gore & Associates (U.S.)
- Teleflex (U.S.)
- Optinova (Finland)
- DuPont (U.S.)
- Tekni-Plex (U.S.)
- Qure Medical (U.S.)
- Saint-Gobain (France)
- RAUMEDIC (Germany)
- Nordson Corporation (U.S.)
- NewAge Industries, Inc. (U.S.)
- Zeus Industrial Products (U.S.)
- SCHOTT AG (Germany)
REPORT COVERAGE
The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 2995.19 Million in 2021 |
Market Size Value By |
US$ 6388.3 Million by 2031 |
Growth Rate |
CAGR of 7.87% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Segments Covered |
Type and Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the bio pharmaceutical tubing market expected to touch by 2031?
Over the research period, bio pharmaceutical tubing market will be reaching USD 6388.3 million in 2031.
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What CAGR is the bio pharmaceutical tubing market expected to exhibit by 2031?
The bio pharmaceutical tubing market is expected to exhibit a CAGR of 7.87% by 2031.
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Which are the driving factors of the bio pharmaceutical tubing market?
Rise in senior population and geriatric disorders and demand for ultra- pure and corrosion- resistant system are the driving factors of the bio pharmaceutical tubing market.
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Which are the top companies operating in the bio pharmaceutical tubing market?
DuPont, SCHOTT AG, Teleflex and Optinova are the top companies operating the bio pharmaceutical tubing market.