Dublin, Feb. 12, 2021 (GLOBE NEWSWIRE) -- The "Pneumatic Tube System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Pneumatic Tube System Market was valued at USD 2.12 billion in 2020 and is expected to reach USD 2.84 billion by 2026, at a CAGR of 5% over the forecast period 2021 - 2026.The pneumatic tube systems are increasingly finding a place in many internal logistic problems of the producers of various good and services. As the costs involved with these systems are low, there has been a significant increase in their demand. The system's offerings of high-level security, user-friendly operation, and low maintenance costs are the significant reasons behind their growth.
The market is mainly driven by demand for automation in material handling across industries, growing medical automation for reproducibility and accuracy, emerging e-commerce industry, and enhanced productivity enabled by improved supply chain processes. The rise in adoption of automated solutions in pharmacies and laboratories is also propelling the pneumatic tube systems market.
The primary factor driving the pneumatic tube systems market is the strong research and development in tube systems. One of the drawbacks of pneumatic tubes systems is the damaged product caused during transportation, especially in the medical sector.
Development of automatic pneumatic tube systems is helping the pneumatic tube systems market to grow. For instance, Air-Log International GmbH is working on automated pneumatic tube systems which are designed for up to 255 zones and 32,000 stations along with digital addressing systems which can meet requirements for medium to large companies.
Key Market Trends
Hospitals Expected to Have Significant Market Share
The pneumatic tube systems in hospitals transport everything, including emergency samples, medicine, units of stored blood, laboratory samples, documents, x-rays, and others. Thus, it creates a direct connection between all hospital wards, such as nursing wards, blood banks, administration offices, and out-patient departments. The hospital segment application includes laboratories, blood banks, nursing pharmacies, emergency rooms, and other such applications.
With a rise in health concerns and stable economic growth in certain regions, the global hospitality industry growth is accelerating, and the factors mentioned above help in increasing the demand for pneumatic tube systems in hospitals. The human intervention free transportation also serves in minimizing the contamination risks and drive the vendors for offering unique solutions served in the market.
Pneumatic tube systems are necessary inventory in hospitals because they are the best solution when long distances need to be covered and when seconds count, for example during surgery, when a blood product or a sample result is required urgently. Whether blood-tissue, urine samples or medication, when speed is vital, the hospital tube system will transport items fast, safe, and shock-free.
Companies like Pevco Systems have products like Pevco Link Web App for tracking real-time data for pharmaceuticals, specimen, and blood products. They also have Pavco Smart Path to increase system performance, safety, and decrease delivery time.
North America Expected to Have Significant Market Share
Pneumatic tube systems are most prevalent in the North America region as it is used in drive-up banks to transport cash and documents between cars and tellers. North America is one of the largest markets for technology-based solutions. It is also expected to be a strong player in the global economy, especially in the development and implementation of new technologies. The healthcare and industrial sectors are increasing, along with the increasing influence on better and safe processes. This has increased the demand for automated systems across various end-user verticals.
Latest technological breakthroughs have advanced new pneumatic tube systems that make the overall processes highly efficient and can significantly improve the accuracy of various applications.
According to the National Health Expenditure Accounts (NHEA) official estimates, total health care spending in the United States grew 3.9% in 2017, reaching USD 3.5 trillion equivalent to USD 10,739 per person. The health spending in terms of the nation's Gross Domestic Product accounted for 17.9%. The healthcare sector in North America is expected to grow at a faster rate as the spending in this sector has been witnessing growth over the last few years, which is supported by the increasing focus on better productivity, the safety of products and faster processes. The rise in the need for security and reduction of product loss drives the users to adopt these pneumatic tube systems, simultaneously, reducing the costs.
The pneumatic tube system market is fragmented and has several manufacturers who strive to maintain a competitive edge in the market, thereby intensifying the competition in the market. Various innovations are taking place in the market, thus enhancing the growth of the market.
April 2019 - Swisslog Healthcare showcases Industry standard-setting pneumatic tube system and autonomous service robot at AONE19. The TransLogic Pneumatic Tube System with Nexus Station and Savioke Relay Robot offer nursing staff convenient material transport with the highest levels of security to facilitate efficient workflow.
October 2017 - Stemilt Growers LLC., the leading grower and distributor of apples, pears, cherries, and summer fruits, partnered with Swisslog to automate its intra-logistics processes with a PowerStore Pallet Shuttle at the heart of the system.
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The market estimate (ME) sheet in Excel format
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Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Growing Adoption of Cost-Effective Solutions
4.3.2 Growing Health and Safety Concerns
4.4 Market Restraints
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Systems & Services
5.1.1 Pneumatic Tube Systems
5.2 By End-user Industry
5.2.4 Waste Management
5.2.5 Other End-user Industries
5.3.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 Rest of Asia-Pacific
5.3.4 Rest of the World
220.127.116.11 Latin America
18.104.22.168 Middle-East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Swisslog Holding AG (KUKA)
6.1.2 Aerocom Systems Inc.
6.1.3 Air Link International Ltd.
6.1.4 Eagle Pneumatic Inc.
6.1.5 Air-Log International GmbH
6.1.6 Colombo Pneumatic Tube Systems Inc.
6.1.7 Oppent S.p.A.
6.1.8 Ing. Sumetzberger GMBH
6.1.9 Hanter Ingenjorsteknik AB
6.1.10 Pevco Systems Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/uojje9
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