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.
Get Sample Copy of this Report at https://www.theinsightpartners.com/sample/TIPRE00008648/
Biopharmaceutical Tubing Market is expected to reach US$ 6,013.27 million by 2028 from US$ 3,442.82 million in 2021; it is estimated to grow at a CAGR of 8.3% from 2021 to 2028. The report highlights the trends prevailing in the market along with the market drivers and deterrents. The factors such as increasing elderly population in world and rising demand for minimally invasive procedures drive the market growth. However, stringent regulatory frameworks hinder the biopharmaceutical tubing market growth.
Top Prominent Players Synopsis- 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; and DuPont de Nemours, Inc., Specialty Silicone Products, Inc., Hoshine Silicon Industry Co., Ltd., Wacker Chemie AG, Shin-Etsu Chemical Co., Ltd., Momentive, Elkem ASA and Wacker Chemie AG
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.
Speak to Analyst at https://www.theinsightpartners.com/speak-to-analyst/TIPRE00008648
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 incidence of 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.
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.
Based on type, the global biopharmaceutical tubing market is segmented into plastic, metal, and silicone. In 2020, the silicone segment held the largest share in 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 as well as a silicone tube imparts properties such as biocompatibility, superior resistance to high temperatures and chemicals, mechanical strength, and electric properties. This factor is likely to boost the demand for biopharmaceutical tubing across the world during the forecast period.
Order a Copy of this Report at https://www.theinsightpartners.com/inquiry/TIPRE00008648/
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.
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi