Sterile Tubing Welder Market Size is Estimated to Witness 5.8% CAGR till 2030

[sara James]

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