Sterile Tubing Welder Market Size, Share & Trends Analysis Report By Application (Biopharmaceutical, Blood Processing, Diagnostic Laboratories, Others), By Mode (Manual, Automatic), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Sterile Tubing Welder Market Size, Share & Trends Analysis Report By Application (Biopharmaceutical, Blood Processing, Diagnostic Laboratories, Others), By Mode (Manual, Automatic), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Sterile Tubing Welder Market Growth & Trends

The global sterile tubing welder market size is expected to reach USD 3.46 billion by 2030, registering a CAGR of 5.2% from 2023 to 2030, 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.

Sterile Tubing Welder Market Report Highlights

• Based on mode, the automatic segment held the largest market share of over 80% in 2022and 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 the largest revenue share of over 60% in 2022 due to a large number of patients being treated using apheresis annually across the globe
• By end-use, the hospitals segment accounted for the largest revenue share of over 40% in 2022 owing to rise in the adoption of advanced instruments and enhanced services in these settings
• North America dominated the market and accounted for the largest revenue share of over 35% in 2022. This can be attributed to the presence of numerous biopharmaceutical companies and high demand for biopharmaceutical products
• The Asia Pacific region is expected to grow at the fastest CAGR of 5.8% during 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

Please note The report will be delivered in 2-3 business days upon order notification.