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DUBLIN , Aug. 6, 2021 /PRNewswire/ -- The "Biopharmaceutical Tubing Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Plastic, Metal, Silicone); Application (Pharmaceutical, Medical Devices, Research and Development, Others), and Geography." report has been added to ResearchAndMarkets.com's offering.
According to this report the 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.
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.
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.
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.
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.
A few of the prominent players operating in the biopharmaceutical tubing market are W. L. Gore and Associates, Inc., SaintoGobain Sekurit, Freudenberg Group, RAUMEDIC AG, TEKNI-PLEX, NewAge Industries, Inc., Optinova, Zeus Industrial Products, Inc., NORDSON CORPORATION; and DuPont de Nemours, Inc. Market players are launching new and innovative products and services to sustain their position in the biopharmaceutical tubing market. 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 that are to be used in biopharma processing, transdermal and topical drug delivery systems, and medical adhesives, etc.
2. Biopharmaceutical Tubing Market - Key Takeaways 3. Research Methodology 4. Global Biopharmaceutical Tubing Market - Market Landscape 4.1 Overview 4.2 PEST Analysis 4.2.1 North America - PEST Analysis 4.2.2 Europe - PEST Analysis 4.2.3 Asia Pacific - PEST Analysis 4.2.4 Middle East and Africa (MEA) - PEST Analysis 4.2.5 South and Central America (SCAM) - PEST Analysis 4.3 Expert Opinions 5. Biopharmaceutical Tubing Market - Key Market Dynamics 5.1 Drivers 5.1.1 Increasing Elderly Population 5.1.2 Rising Demand for Minimally Invasive Procedures 5.2 Market Restraints 5.2.1 Stringent Standards for a Variety of Biopharmaceutical Applications 5.3 Market Opportunities 5.3.1 Growth Opportunities in The Developing Nations 5.4 Future Trends 5.4.1 Platinum Cured Silicone Tubing becoming the Material of Choice for Biopharmaceutical Tubing 5.5 Impact Analysis 6. Biopharmaceutical Tubing Market - Global Analysis 6.1 Global Biopharmaceutical Tubing Market Revenue Forecast And Analysis 6.2 Global Biopharmaceutical Tubing Market, By Geography - Forecast And Analysis 6.3 Market Positioning of Key Players 7. Biopharmaceutical Tubing Market Analysis - By Type 7.1 Overview 7.2 Biopharmaceutical Tubing Market Revenue Share, by Type (2021 and 2028) 7.3 Plastic 7.3.1 Overview 7.3.2 Plastic: Biopharmaceutical Tubing Market - Revenue and Forecast to 2028 (US$ Million) 7.4 Metal 7.4.1 Overview 7.4.2 Metal: Biopharmaceutical Tubing Market - Revenue and Forecast to 2028 (US$ Million) 7.5 Silicone 7.5.1 Overview 7.5.2 Silicone: Biopharmaceutical Tubing Market - Revenue and Forecast to 2028 (US$ Million) 8. Biopharmaceutical Tubing Market Analysis - By Application 8.1 Overview 8.2 Biopharmaceutical Tubing Market Revenue Share, by Application (2021 and 2028) 8.3 Pharmaceutical 8.3.1 Overview 8.3.2 Pharmaceutical: Biopharmaceutical Tubing Market - Revenue and Forecast to 2028 (US$ Million) 8.4 Medical Devices 8.4.1 Overview 8.4.2 Medical Devices: Biopharmaceutical Tubing Market - Revenue and Forecast to 2028 (US$ Million) 8.5 Research and Development 8.5.1 Overview 8.5.2 Research and Development: Biopharmaceutical Tubing Market - Revenue and Forecast to 2028 (US$ Million) 8.6 Others 8.6.1 Overview 8.6.2 Others: Biopharmaceutical Tubing Market - Revenue and Forecast to 2028 (US$ Million) 9. Biopharmaceutical Tubing Market - Geographic Analysis 10. Impact of COVID-19 Pandemic on Global Biopharmaceutical Tubing Market 10.1 North America : Impact Assessment of COVID-19 Pandemic 10.2 Europe : Impact Assessment of COVID-19 Pandemic 10.3 Asia-Pacific : Impact Assessment of COVID-19 Pandemic 10.4 Middle East and Africa : Impact Assessment of COVID-19 Pandemic 10.5 South and Central America : Impact Assessment of COVID-19 Pandemic 11. Biopharmaceutical Tubing Market - Industry Landscape 11.1 Overview 11.2 Growth Strategies Done by the Companies in the Market, (%) 11.3 Organic Developments 11.3.1 Overview 11.4 Inorganic Developments 11.4.1 Overview 12. Company Profiles 12.1 W. L. Gore and Associates, Inc. 12.1.1 Key Facts 12.1.2 Business Description 12.1.3 Products and Services 12.1.4 Financial Overview 12.1.5 SWOT Analysis 12.1.6 Key Developments 12.2 Saint-Gobain Sekurit 12.2.1 Key Facts 12.2.2 Business Description 12.2.3 Products and Services 12.2.4 Financial Overview 12.2.5 SWOT Analysis 12.2.6 Key Developments 12.3 Freudenberg Group 12.3.1 Key Facts 12.3.2 Business Description 12.3.3 Products and Services 12.3.4 Financial Overview 12.3.5 SWOT Analysis 12.3.6 Key Developments 12.4 RAUMEDIC AG 12.4.1 Key Facts 12.4.2 Business Description 12.4.3 Products and Services 12.4.4 Financial Overview 12.4.5 SWOT Analysis 12.4.6 Key Developments 12.5 TEKNI-PLEX 12.5.1 Key Facts 12.5.2 Business Description 12.5.3 Products and Services 12.5.4 Financial Overview 12.5.5 SWOT Analysis 12.5.6 Key Developments 12.6 NewAge Industries, Inc. 12.6.1 Key Facts 12.6.2 Business Description 12.6.3 Products and Services 12.6.4 Financial Overview 12.6.5 SWOT Analysis 12.6.6 Key Developments 12.7 Optinova 12.7.1 Key Facts 12.7.2 Business Description 12.7.3 Products and Services 12.7.4 Financial Overview 12.7.5 SWOT Analysis 12.7.6 Key Developments 12.8 Zeus Industrial Products, Inc. 12.8.1 Key Facts 12.8.2 Business Description 12.8.3 Products and Services 12.8.4 Financial Overview 12.8.5 SWOT Analysis 12.8.6 Key Developments 12.9 NORDSON CORPORATION 12.9.1 Key Facts 12.9.2 Business Description 12.9.3 Products and Services 12.9.4 Financial Overview 12.9.5 SWOT Analysis 12.9.6 Key Developments 12.10 DuPont de Nemours, Inc. 12.10.1 Key Facts 12.10.2 Business Description 12.10.3 Products and Services 12.10.4 Financial Overview 12.10.5 SWOT Analysis 12.10.6 Key Developments 13. Appendix For more information about this report visit https://www.researchandmarkets.com/r/anhcf4
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