PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1408905
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1408905
Sterile Tubing Welder Market size was valued at USD 2,543.42 Million in 2023, expanding at a CAGR of 5.1% from 2024 to 2032.
Two thermoplastic tubes of the same length are joined by a sterile tubing welder to create an aseptic connection between them. Two similar tube modules that fit snugly into the tube clamp assembly are welded together to form a working closed system. This equipment is widely used to produce DNA cells and blood plasma for different medical treatments in biotechnology, pharmaceuticals, blood banks, diagnostic laboratories, etc. Before being transported to the labs for more testing, the biological sample is transferred to a sealed tube.
The market is anticipated to expand as a result of the increasing need for accurate diagnostic tools to receive the right care for chronic illnesses. For instance, the American Cancer Society's Cancer Facts & Figures 2022 data estimates that 609,360 people will die from cancer in the US, accounting for 1.9 million new instances of the disease. Furthermore, 54.1 million people in the US were 65 years of age or older in 2019-16% of the overall population-and this number is expected to rise to 21.6% by 2040. Therefore, it is predicted that the country's rising elderly population and prevalence of chronic illnesses will open up more avenues for the creation of new drugs, which will support the market's expansion during the projected timeframe.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to hold a prominent market share during the forecast period. Some of the main factors driving the market expansion in this area are the growing prevalence of chronic diseases, recent technological advancements, and the increasing need for a clean and sanitary environment to prevent infection. The National Health Council 2020 study estimates that 157 million people worldwide suffer from at least one chronic illness. The market is also driven by rising investment in the pharmaceutical and biopharmaceutical sectors. In contrast to all other manufacturing industries, the biopharmaceutical industry invests an average of six times more in R&D as a percentage of revenues. This makes the pharmaceutical sector, for instance, the most R&D-intensive business in the U.S. economy, according to the Pharmaceutical Research and Manufacturers of America. Moreover, the biopharmaceutical sector in the United States has led the way in the global development of novel pharmaceuticals. The biopharmaceutical sector in the United States as a whole spent around USD 122 billion on research and development in 2020. Market expansion is facilitated by the fact that these developed pharmaceuticals treat a multitude of significant therapeutic areas, such as hemophilia, cancer, genetic diseases, and amyotrophic lateral sclerosis.
The key players operating in the market are: GE Healthcare, Terumo BCT, Inc., Sartorius AG, MGA Technologies, Genesis BPS, Vante Biopharm / Sebra, Biomen Biosystems Co., Ltd., SynGen, Inc., Sentinel Process Systems, Inc., Shanghai Le Pure Biological Technology Co., Ltd. and Flex Concepts, Inc. among others. A few of the crucial company tactics employed by industry players to preserve and expand their worldwide reach are product releases, approvals, strategic acquisitions, and innovations.
In September 2022, Sartorius finalized the acquisition of Albumedix through its French-listed division Sartorius Stedim Biotech.
The scope of this report covers the market by its major segments, which include as follows: