Published Date: 28-Jul-22
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According to a new report, published by KBV research, The Global Sterile Tubing Welder Market size is expected to reach $2.9 billion by 2028, rising at a market growth of 5.5% CAGR during the forecast period.
The Manual segment has shown growth rate of 8.9% during (2022 - 2028). Welders for manual sterile tubing often need trained specialists who are familiar with safety procedures and modern good manufacturing standards. These positions call for knowledge-specific abilities, and contamination risk could result from a lack of device operation expertise. Thus, a shortage of qualified personnel may restrict industry expansion.
The Blood Processing segment acquired maximum revenue share in the Global Sterile Tubing Welder Market by Application in 2021, thereby, achieving a market value of $1.77 Billion by 2028. Due to the rising demand for blood and blood products. This is explained by the growing demand for cell and gene therapies, customized medicine, and blood disorders like hemophilia. For instance, over 1,125,000 males are thought to be affected by hemophilia which increases the adoption of the blood processing.
The Blood Centers segment is showcasing a CAGR of 5.8% during (2022 - 2028). This is due to a growth in the need for blood and blood products to treat various blood illnesses such as leukemia, thalassemia, severe anemia, and others. Additionally, it is projected that a rise in the number of traffic accidents around the world will boost demand for blood and blood products.
The North America market dominated the Global Sterile Tubing Welder Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.09 Billion by 2028. The Europe market is estimated to witness a CAGR of 5.1% during (2022 - 2028). Additionally, The Asia Pacific market would experience a CAGR of 6.1% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Terumo Corporation, General Electric (GE) Co. (GE Healthcare), Sartorius AG, Shanghai LePure Biotech Co., Ltd., Sentinel Process Systems, Inc., MGA Technologies, GenesisBPS, NewAge Industries, Inc., and Machine Solutions, Inc.
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