The global Sterile Tubing Welder Market size is expected to reach USD 3.46 billion by 2030, expanding at a CAGR of 5.8% 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.
Related Press Release@ Sterile Tubing Welder Market Report
Sterile Tubing Welder Market
Report Highlights
- 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
- The 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
- Mergers & acquisitions are the key strategies adopted by the
market players
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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