Market Size of Sterile Tubing Welder Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Sterile Tubing Welder Market Analysis
The sterile tubing welder market is expected to register a CAGR of 4% during the forecast period.
The outbreak of COVID-19 positively impacted the market due to the increasing use of sterilized hospital supplies and instruments to avoid contamination with coronavirus. Additionally, blood testing helps diagnose infectious diseases, such as COVID-19. Testing remains a crucial step in controlling the COVID-19 pandemic. As the number of COVID-19 cases increased worldwide, governments were exploring the possibility of allowing private laboratories to ramp up blood testing. People with weak immune systems, infected by COVID-19 and hospitalized, were in need of blood/plasma transfusion.
Market growth is attributed to increasing R&D expenditure and the growing demand for sterile tubing welders across hospitals and research clinics. The rising adoption of single-use technologies and increasing demand for blood and blood products also fuel the growth of the market. According to a 2021 report published by the National Institute of Health (NIH), an estimated 15 million units were transfused in 2021 in the United States. These were transfused for the treatment of hematologic disorders, such as anemia, leukemia, and sickle cell diseases.
An increase in blood transfusions led to a high demand and adoption of blood products, thus promoting the growth of the market. Moreover, the contamination of blood results in wastage, improper storage, and lack of proper handling associated with blood processing. These factors also boost the demand for automated sterile tubing welder, further driving the market.
Additionally, R&D expenditure across the pharmaceutical industry is increasing worldwide. For instance, data from clinicaltrials.gov suggests that over 6,000 pharmaceutical products were being evaluated worldwide as of 2022. With this, the spending on pharmaceutical R&D increased drastically. As pharmaceutical expenditure is on the rise, sterile tubing welwelders are believed to increase in the coming years, which will contribute to significant market growth.
However, the presence of alternatives for sterile tubing welders is expected to hinder market growth over the forecast period.
