The Insight Partners published latest research study on “Biopharmaceutical Tubing Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Application,” the market is expected to grow from US$ 3,442.82 million in 2021 to US$ 6,013.27 million by 2028; it is estimated to grow at a CAGR 8.3% during 2021–2028. Factors driving the market’s growth are the increasing elderly population in world, and rising demand for minimally invasive procedures.
Biopharmaceutical tubing are specifically designed to meet critical needs of biopharmaceutical and medical industries. Biopharmaceutical tubing is produced by the extrusion process and is extensively used in drug delivery systems, feeding tubes, and peristaltic pumps. These offer exceptional thermal, mechanical, and chemical properties used 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.
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North America accounted for a major share of the global Biopharmaceutical Tubing market in 2021. rising demand for medical devices that incorporate tubing, adoption of advanced medical devices, technological advancements, and shift toward minimally invasive medical procedures are projected to accelerate the growth of the biopharmaceutical tubing market. Market players are adopting organic and inorganic growth strategies for market development in the region. For instance, In November 2019, Saint-Gobain Life Sciences completed construction on its new plant in Largo, Florida, marking another key milestone in its €70 million worldwide expansion initiative, which will see seven production locations built and operational by the end of 2020. The 80,000 SF Largo, FL facility will become an additional manufacturing site of Saint-Gobain’s C-Flex tubing, molded connections, and assemblies used in fluid management for biopharmaceutical manufacturing. Saint-Gobain will continue to produce C-Flexs tubing and related product lines at its existing facilities in Clearwater, FL; Charny, France; and Bangalore, India.
Browse key market insights spread across 174 pages with 86 list of tables & 70 list of figures from the report, “Biopharmaceutical Tubing Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type (Plastic, Metal, and Silicone) and Application (Pharmaceutical {Single Use Technology, and Others, Medical Devices, Research and Development, and Others)” in detail along with the table of contents: https://www.theinsightpartners.com/reports/biopharmaceutical-tubing-market
Biopharmaceutical Tubing Market: Competitive Landscape and Key Developments
- 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., Specialty Silicone Products, Inc., Hoshine Silicon Industry Co., Ltd., Wacker Chemie AG, Shin-Etsu Chemical Co., Ltd., Momentive, Elkem ASA, Wacker Chemie AG. are among the key companies operating in the Biopharmaceutical Tubing market. Leading players are adopting strategies such as the launch of new products, expansion and diversification of their market presence, and acquisition of new customer base for tapping prevailing business opportunities.
- For instance, In September 2021, DuPont introduced DuPont Liveo, a new brand name for its extensive range of silicone healthcare solutions. The Liveo brand product line includes pharma tubing and overmolded assemblies for single-use systems meant to be used in biopharma processing, transdermal and topical drug delivery systems, and medical adhesives, among others.
- In June 2020, Nordson acquired Fluortek, a plastic extrusion manufacturer that provides custom dimensioned tubing to the medical device industry. As Nordson Medical continues to expand its diversified product offerings, the acquisition enhances company’s ability to deliver critical components for medical device innovations.
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Increasing Elderly Population in World Fuel 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 >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 over the age of 60 that is (25%). Other regions of the world are also experiencing accelerated ageing, and by 2050, all regions of the world except Africa will have approximately a quarter or more of their populations aged 60 and over. 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.
This rise in the elderly population has led to an increase in the geriatric ailments, thus generating a greater demand for diagnostic equipment and drug delivery systems. It is also resulting in the spike in incidence of urological conditions that require catheterization. Medical professionals are also encouraging self-catheterization to reduce the cost and period of hospitalization as well as to avert the risk of healthcare-associated infections (HAI). Aging is also a main factor that contributes to the increase in chronic diseases that might lead to the need for interventions that require admission to ICUs. Thus, rapid growth in the geriatric population is directly proportional to the rising demand for medical devices that incorporate tubing, drug delivery, dialysis and cardiac bypass, peristaltic pump, and sterile filling and dispensing systems, thereby driving the adoption of biopharmaceutical tubing systems.
Biopharmaceutical Tubing Market: Application Overview
Based on application, the biopharmaceutical tubing market is segmented into pharmaceutical, medical devices, research and development, and others. The pharmaceutical segment is sub segmented as single use technology 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. Liquid transfer is an essential part of pharmaceutical manufacturing processes, including the manufacturing of cough syrup and complex active pharmaceutical ingredients (APIs) such as vaccines or specific medications for cancer treatment, and the transfer process must be carried out in a highly regulated environment. Thus, with the growing emphasis on proper transfer tubing systems with escalating production capacities, the pharmaceutical industries demand ultra-pure and corrosion-resistant systems for liquid transfer that withstand harsh environment of chemicals, which is bolstering the market growth of this segment.
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