Global Biopharmaceutical Tubing Market Insights 2024, Forecast To 2033
10 Oct, 2024
The biopharmaceutical tubing market has experienced rapid growth in recent years, increasing from $3.88 billion in 2023 to $4.32 billion in 2024 at a CAGR of 11.3%. Growth drivers include rising demand for minimally invasive procedures, an aging population, demand for ultra-pure and corrosion-resistant systems, and increased demand for diagnostic equipment and drug delivery systems. Looking ahead, the biopharmaceutical tubing market is projected to grow to $6.65 billion by 2028 at a CAGR of 11.4%. This expansion will be driven by increasing biopharmaceutical production, stricter regulatory policies, a rising need for efficient, contamination-free bioprocessing, and growing pharmaceutical research and development (R&D). Major trends include advancements in single-use systems, innovations in tubing materials, and the development of customized tubing solutions, along with innovations in tubing design.
Major Driver In The Biopharmaceutical Tubing Market
The increasing number of personalized medicines is expected to fuel the growth of the biopharmaceutical tubing market in the future. Personalized medicine is a medical approach that tailors healthcare decisions and treatments to the individual characteristics of each patient. The focus on personalized medicine has intensified due to advancements in genetic research, enabling treatment approaches based on an individual’s genetic profile and health conditions. Biopharmaceutical tubing is essential in personalized medicine, providing precise, sterile, and reliable fluid transfer needed for customized treatments. In 2022, the Personalized Medicine Coalition, a U.S.-based professional membership organization, reported that 12 new personalized medicines were approved, accounting for around 34% of all newly approved therapies, marking a notable increase compared to previous years. Consequently, the rising number of personalized medicines is driving growth in the biopharmaceutical tubing market, projected to reach $3.1 billion in 2023, $4.0 billion in 2024, and anticipated to grow to $6.0 billion by 2028.
Request A Free Sample Of The Biopharmaceutical Tubing Market ReportBiopharmaceutical Tubing Market Competitive Landscape
Major companies operating in the biopharmaceutical tubing market are Compagnie de Saint-Gobain S.A., Thermo Fisher Scientific Inc., Merck KGaA, GE HealthCare Technologies Inc., Parker Hannifin Corporation, DuPont de Nemours Inc., Freudenberg Group, Medline Industries LP, Avantor Inc., Alfa Laval AB, REHAU Group, W. L. Gore & Associates Inc., Sartorius AG, Elkem ASA, Trelleborg AB, Bio-Rad Laboratories Inc., Tekni-Plex Inc., Pall Corporation, Zeus Company Inc., Watson-Marlow Ltd., Raumedic AG, Qosina, Optinova AB, ESI Ultrapure
Key Biopharmaceutical Tubing Market Trend
Major companies in the biopharmaceutical tubing market are innovating next-generation customizable solutions like bioabsorbable tubing to enhance performance, improve sterility, and optimize fluid handling for advanced biopharmaceutical applications. Bioabsorbable tubing is specialized tubing made from materials that gradually break down and are absorbed by the body over time, negating the need for removal after use. For instance, in September 2023, Zeus Company Inc., a US-based advanced polymer solutions provider, launched the Absorv XSE-oriented tubing, a next-generation bioabsorbable product designed for bioresorbable vascular scaffolds (BRS). This innovation enables medical device manufacturers to explore BRS applications beyond treating coronary artery disease and potentially replace metallic stents in various procedures. The new tubing features improved uniformity in wall thickness and sizing, resulting in greater efficiency during laser cutting processes, ultimately leading to more usable scaffolds.
Purchase The Global Biopharmaceutical Tubing Market Report Directly And Get A Swift DeliveryGlobal Biopharmaceutical Tubing Market Segmentation
The biopharmaceutical tubing market covered in this report is segmented –
1) By Product: Silicone Tubing, Polyvinyl Chloride (PVC) Tubing, Polyolefin Tubing, Thermoplastic Elastomer Tubing
2) By Manufacturing Process: Extrusion, Vulcanization, Other Manufacturing Processes
3) By Application: Pharmaceutical, Medical Devices, Research And Development, Other Applications
By Geography:The regions covered in the biopharmaceutical tubing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the biopharmaceutical tubing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Biopharmaceutical Tubing Global Market Report 2024 furnishes information about the global biopharmaceutical tubing market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.