The 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 factors increasing elderly population in world, and rising demand for minimally invasive procedures are contributing to the market growth.
New York, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Biopharmaceutical Tubing Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type ; Application, and Geography." - https://www.reportlinker.com/p06130836/?utm_source=GNW
However, the stringent regulatory frameworks hinder the biopharmaceutical tubing market growth.
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.
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.
Based on type, the global biopharmaceutical tubing market is segmented into plastic, metal, and silicone.In 2020, the silicone segment held the largest share of 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.
In addition to biocompatibility, high temperature and chemical resistance, mechanical strength, and electric properties are among the properties that make it a material of choice in biological applications.
Based on application, the biopharmaceutical tubing market is segmented into pharmaceutical, medical devices, research and development, 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.
A few major primary and secondary sources referred to while preparing the report on the global biopharmaceutical tubing market are the United States Pharmacopeia (USP), Watson-Marlow Fluid Technology Group (WMFTG), The Italian Institute of Statistics (ISTAT), Asthma and Immunology Society, United Nation’s World Population Ageing 2017 report, and US Census Bureau.
Read the full report: https://www.reportlinker.com/p06130836/?utm_source=GNW
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