Fluid Transfer Solutions Market Is Set To Witness A Growth Of 5% And 7% During 2021-2031
According to the latest research by Future Market Insights, the Fluid transfer solutions market is set to witness a growth of 5% and 7% during 2021-2031.
Fluid transfer process is considered one of the critical steps in manufacturing processes and takes place routinely in the field of medical, biopharmaceutical or cell therapy industries.
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As it involves careful transfer of fluids under sterile conditions, different types of fluid transfer can be achieved on the basis on intended applications and the industry where it is used. Demand for Fluid transfer solutions is expected to witness an optimistic growth outlook in the long run.
What is Driving the Demand for Fluid Transfer Solutions Market
Continuous research activities for the development of newer treatments, growth in pharmaceutical industry producing new vaccines and cell and gene therapy processing industries can be seen using the aseptic transfer of materials in their processes, from small scale to large scale, thus driving the demand for fluid transfer solutions market.
Aseptic transfer of cell and fluid material requires different equipment or devices depending on various product and processes, and as per the industry.
On the basis of this, there are single-use or disposable fluid transfer products and customized fluid transfer products offered by different companies, made of different material such as poly vinyl chloride (PVC) or silicone or stainless steel.
Application of Fluid transfer solutions varies as per the industry such as in medical industry- Poly Vinyl Chloride (PVC) are used for tubing purpose such as in blood bags, IV and fluid transfer sets, dialysis bags and IV containers. While in biopharmaceutical industry, applications includes single use systems, peristaltic pumps, upstream and downstream and fill and finish processes.
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Benefits from single use fluid transfer systems can be seen in terms of facility design, validation and investment along with reduced risk of cross contamination, faster turn-around time and improved process connectivity.
The single use systems are thus considered to be driving the market for fluid transfer solutions in the forecast period.
Which Factors are likely to Augment the Growth of the Fluid Transfer Solutions Market
The wide range of fluid transfer products from simple tubing to complex mixing solutions available in the market is expected to augment the growth of fluid transfer solutions market during the forecast period.
This includes single use systems (for sampling, small volume transfer tubes), custom sampling solutions, various filtration and transferring assemblies, multibag mixing systems and bottle manifolds.
Continuous focus on development of innovative approaches to handle fluid solutions, increased level of automation and commercialization of new technologies are being undertaken by many companies serving this field.
This will lead to the growth of the market in the forecast period.
North America Fluid Transfer Solutions Market Outlook
North America market growth is largely driven by advanced healthcare infrastructure and growing healthcare driven research and development.
As per the recent report by National Institutes of Health (NIH), the NIH invests nearly $41 Bn in the field of medical research annually, more than 80% of which is funded to the research institutions and medical schools, while the rest support independent projects in USA.
Investment pertaining to clinical researches in medical industry by many private and government organization have been increased in recent times.
Thereby growing the demand for aseptic transfer of materials and drugs under sterile conditions, which is likely to boost the fluid transfer solutions market in this region during the forecast period.
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Europe Demand Outlook for Fluid Transfer Solutions
Europe is anticipated to be the second largest market for fluid transfer solutions.
Growing research and development activities to develop better treatment, new and improved vaccines, leading to innovative aseptic fluid handling approaches and products and the presence of key market players, in the European region will facilitate the growth of the market in the forecasted period.
Who are the key Manufacturers and Suppliers of the Fluid Transfer Solutions
Some of the key players of Fluid transfer solutions include
- Thermo Fisher Scientific
- Charter Medical
- Watson Marlow Fluid Technology Group,
- Avantor Inc
- Saint-Gobain Performance Plastics
- Pall Corporation
- Sartorius AG
- Getinge AB
- Central Research Laboratories
- Beckman Coulter Inc and others.
Companies offering Fluid transfer solutions are involved in existing product upgrades, new product launches, mergers and collaborations to enhance their market position.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.