Europe Biopharmaceutical Tubing Market
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.
Strategic insights for the Europe Biopharmaceutical Tubing provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 827.65 Million |
| Market Size by 2028 | US$ 1,474.45 Million |
| Global CAGR (2021 - 2028) | 8.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Biopharmaceutical Tubing refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Europe biopharmaceutical tubing market is expected to reach US$ 1,474.45 million by 2028 from US$ 827.65 million in 2021; it is estimated to grow at a CAGR of 8.6% from 2021 to 2028. The growth of the market is attributed to some key driving factors such as increasing elderly population in world, and rising demand for minimally invasive procedures. However, stringent regulatory framework by government for biopharmaceutical applications is expected to restrict the market growth during the forecast period.
Popularity of minimally invasive surgical procedures has increased in the recent years owing to the benefits such as tiny incisions, faster recovery of patients, and less discomfort caused to the patients. The growing prevalence of arthritis, cancer, and cardiovascular diseases, all of which require extensive surgical treatments, has boosted the demand for minimally invasive procedures. As a result, there is an enormous demand for catheters and biopharmaceutical tubing, among other components. Further, biopharmaceutical tubing systems are reasonably priced and aid in time-saving procedures. For example, employing catheter tubing for cardiac and urine catheterization significantly lowers the time required for the medical or surgical operation. Therefore, the growing demand for minimally invasive medical procedures and focus on increasing the efficiency of these procedures play an important role in propelling the demand for biopharmaceutical tubing. Also, growing use of platinum-cured silicone as material of choice for biopharmaceutical tubing offers several advantages over traditional peroxide cured tubing. For instance, in January 2020, Watson-Marlow Fluid Technology Group (WMFTG) launched BioPure silicone transfer tubing to confer safe, reliable, and cost-effective solution for a wide range of bioprocess fluid transfer applications. Therefore, the launch and use of platinum-cured silicone tubing as a material of choice is likely to emerge as a significant trend in the biopharmaceuticals market during the forecast period. Thus, there are significant opportunities for the market players to enter the market with superior and cost-effective products.
The COVID-19 pandemic has severely affected the industries in European Union (EU). As the number of COVID-19 patients requiring ventilatory support (high-flow oxygen therapy, non-invasive ventilation, invasive mechanical ventilation, and extracorporeal membrane oxygenation) has increased, the demand for medical tubing has also increased in the last year. In addition, growing COVID-19 infection in people with existing medical conditions such as asthma and diabetes is also influencing the growth of the market, which, in turn propel the demand for drug delivery devices and equipment such as nasogastric tubes, nebulizers, and spacer devices. Further, the presence of a robust industrial base and several established manufacturers of medical tubing in the country is strengthening the market growth in the country. These factors are expected to fuel the demand for biopharmaceutical tubing in the region during the forecast period.
Based on type, the Europe biopharmaceutical tubing market is segmented into plastic, metal, and silicone. The silicone segment held the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period.
Based on application, the Europe biopharmaceutical tubing market is segmented into pharmaceutical, medical devices, research and development, and others. The pharmaceutical segment held the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period.
A few of the primary and secondary sources associated with this report on the Europe biopharmaceutical tubing market are the European Union (EU), British Heart Foundation (BHF), European Society of Cardiology (ESC) and Italian Institute of Statistics (ISTAT).
The Europe Biopharmaceutical Tubing Market is valued at US$ 827.65 Million in 2021, it is projected to reach US$ 1,474.45 Million by 2028.
As per our report Europe Biopharmaceutical Tubing Market, the market size is valued at US$ 827.65 Million in 2021, projecting it to reach US$ 1,474.45 Million by 2028. This translates to a CAGR of approximately 8.6% during the forecast period.
The Europe Biopharmaceutical Tubing Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Biopharmaceutical Tubing Market report:
The Europe Biopharmaceutical Tubing Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Biopharmaceutical Tubing Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Biopharmaceutical Tubing Market value chain can benefit from the information contained in a comprehensive market report.
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