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Biopharmaceutical Tubing Market Hit $ 6,013.27 million by 2028

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Biopharmaceutical Tubing Market Hit $ 6,013.27 million by 2028

December 01
14:00 2021
Biopharmaceutical Tubing Market Hit $ 6,013.27 million by 2028
theinsightpartners
The biopharmaceutical tubing market is projected to reach US$ 6,013.27 million by 2028 from US$ 3,442.82 million in 2021; it is expected to grow at a CAGR of 8.3% from 2021 to 2028.

According to our latest market research study on “Biopharmaceutical Tubing Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Application,” The report highlights the trends prevailing in the market, along with market drivers and deterrents. Increasing elderly population in world and rising demand for minimally invasive procedures are among the key forces driving the market growth. However, stringent regulatory framework hinders the market growth.

Strategic Insights

Report Coverage             

(Details)

Market Size Value in      

(US$ 3,442.82 Million in 2021)

Market Size Value by    

(US$ 6,013.27 Million by 2028)

Growth Rate     

(CAGR of 8.3% from 2021-2028)

Forecast Period

(2021-2028)

Base Year           

(2021)

No. of Pages     

(148)

No. Tables          

(57)

No. of Charts & Figures

(68)

Segments covered         

(Type ; Application , and Geography)

Regional scope 

(North America; Europe; Asia Pacific; Latin America; MEA)

Country scope  

(US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina)

Report coverage             

(Revenue forecast, company ranking, competitive landscape, growth factors, and trends)

Get Sample PDF Copy of Biopharmaceutical Tubing Market at: https://www.theinsightpartners.com/sample/TIPRE00008648/

Biopharmaceutical tubing are specifically designed to meet critical needs of biopharmaceutical and medical industries. This tubing is produced by the extrusion process and is extensively used in drug delivery systems, feeding tubes, and peristaltic pumps as well in a wide range of minimally critical invasive applications, including stent delivery systems, cardiovascular catheters, and urological retrieval devices. Moreover, these are also used with anesthesiology and respiratory equipment, IVs, and biopharmaceutical laboratory equipment. They confer exceptional thermal, mechanical, and chemical properties.

Increasing Elderly Population Drives Biopharmaceutical Tubing Market Growth

Increase in life expectancy is leading to rise in geriatric population in the world. According to the World Health Organization (WHO), the global population share of people with age more than 60 would nearly double from 12% in 2015 to 22% in 2050. According to the United Nation’s World Population Ageing 2017 report, in 2017, there were 962 million people with age 60 or above in the world, and the number is expected to reach ~2.1 billion by 2050. In addition, according to the US Census Bureau, the number of people in the US with age 65 and above is anticipated to grow from 46 million in 2016 to more than 98 million by 2060, their population share would grow from ~15% to ~24% during this period. According to the United Nation’s World Population Ageing 2017 report, in 2017, Europe had the highest percentage of people of age more than 60, i.e., 25%. By 2050, ~25% or more population in all regions of the world, except Africa, would be of age 60 and above. The geriatric population in the world is anticipated to reach US$ 1.4 billion, US$ 2.1 billion, and above US$ 3.1 billion by 2030, 2050, and 2100, respectively.

Rising Demand for Minimally Invasive Procedures Contributes Significantly to Market Growth

A minimally invasive medical procedure is generally carried out by inserting a small device or an implant in body through an incision or anatomical opening. The popularity of these procedures has increased in the recent years due to the involvement of tiny incisions, faster recovery of patients, and less discomfort caused to the patients. Moreover, these procedures are also associated with benefits such as less trauma to muscles, nerves, tissues, and organs; less bleeding and scarring; and minimal injuries to tissues and less pain.

The growing prevalence of arthritis, cancer, and cardiovascular diseases, all of which require extensive surgical treatments, has boosted demand for minimally invasive procedures. As a result, there is an enormous demand for catheters and biopharmaceutical tubing, among other components. Furthermore, biopharmaceutical tubing systems are reasonably priced and aid in time-saving procedures. For example, employing catheter tubing for cardiac and urine catheterization significantly lowers the time required for the medical or surgical operation. Therefore, the growing demand for minimally invasive medical procedures and focus on increasing the efficiency of these procedures play an important role in propelling the demand for biopharmaceutical tubing.

The COVID-19 pandemic is having the mixed impact on the biopharmaceutical tubing market. Growing COVID-19 infection in people with existing medical conditions such as asthma and diabetes also influences the growth of the market. There is a rise in the demand for drug delivery devices and equipment such as nasogastric tubes, nebulizers, spacer devices, etc. Therefore, these factors are driving the demand for biopharmaceutical tubing during the forecast period. On the other hand, many countries have changed medical device regulations owing to supply chain obstruction affect negatively on biopharmaceutical tubing market. 

Get the Latest COVID-19 Analysis on Biopharmaceutical Tubing Market at: https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00008648

Based on type, the global biopharmaceutical tubing market is segmented into plastic, metal, and silicone. In 2020, the silicone segment held the largest share of the market. Moreover, the market for the silicone segment is expected to grow at the highest CAGR during 2021–2028. The biocompatibility of silicone allows it to be compatible with human tissues and body fluids, increasing its use in medical tubing.

Based on application, the biopharmaceutical tubing market is segmented into pharmaceutical, medical devices, research and development, and others. The pharmaceutical segment held the largest market share in 2020, and it is further expected to be the largest shareholder in the market by 2028.

Biopharmaceutical Tubing Market: Competitive Landscape and Key Developments

A few prominent players operating in the biopharmaceutical tubing market are W. L. Gore and Associates, Inc., Saint-Gobain Sekurit, Freudenberg Group, RAUMEDIC AG, TEKNI-PLEX, NewAge Industries, Inc., Optinova, Zeus Industrial Products, Inc., NORDSON CORPORATION, DuPont de Nemours, Inc.

Order a Copy of Biopharmaceutical Tubing Market Shares, Strategies and Forecasts 2021-2028 Research Report at: https://www.theinsightpartners.com/buy/TIPRE00008648/

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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