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LONDON, GREATER LONDON, UK, August 12, 2024 /EINPresswire.com/ -- The single use consumables market has experienced robust growth in recent years, expanding from $3.12 billion in 2023 to $3.67 billion in 2024 at a compound annual growth rate (CAGR) of 17.9%. The growth in the historic period can be attributed to increased outsourcing of manufacturing, medical advancements, healthcare standards, rise of disposable culture, environmental awareness.
Strong Future Growth Anticipated
The single use consumables market is projected to continue its strong growth, reaching $7.15 billion in 2028 at a compound annual growth rate (CAGR) of 18.1%. The growth in the forecast period can be attributed to healthcare digitization, global health emergencies, personalized medicine trends, rise in home healthcare, sustainability initiatives. Major trends in the forecast period include focus on infection control, environmental concerns & sustainable solutions, rapid technological integration, remote monitoring technologies.
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Growth Driver Of The Single Use Consumables Market
Rising prevalence of chronic diseases is expected to drive the growth of the single use consumables market. Chronic disease refers to a health condition or disease that is persistent or long-lasting in its effects, usually lasting for three months or longer, and may get worse over time. They require ongoing medical attention. Single use consumables are used extensively in pharmaceuticals and medical equipment manufacturing that are used to treat chronic diseases.
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Major Players And Market Trends
Key players in the single use consumables market include Thermo Fisher Scientific Inc., Sartorius AG, Danaher Corporation, Merck KGaA Darmstadt Germany, Avantor LLC, Meissner Filtration Products Inc.
Major companies operating in the single-user consumables market are integrating their efforts into launching next-gen cutting-edge solutions, such as single-use bioreactor systems, to drive their revenues in the market. A single-use bioreactor system is a type of bioreactor that uses disposable components, such as plastic bags or containers, instead of traditional stainless steel or glass culture vessels for use in bioprocessing applications.
Segments:
1) By Products: Connectors, Valves, Adaptors, Tubing, Disconnectors, Sensors, Disposable Capsule Filter
2) By Application: Sampling, Cell Culture And Mixing, Storage, Filtration, Other Applications
3) By End-User: Biopharmaceutical And Pharmaceutical Companies, Original Equipment Manufacturers (OEMs), Contract Research Organizations And Contract Manufacturing Organizations, Academic And Research Institutes
Geographical Insights: North America Leading The Market
North America was the largest region in the single use consumables market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global single use consumables market report during the forecast period. The regions covered in the single use consumables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Single Use Consumables Market Definition
Single-use consumables are products that are designed to be used only once and then discarded. They are utilized in a variety of sectors, including healthcare and biopharmaceuticals, to produce monoclonal antibodies, mRNA, and bioconjugates.
Single Use Consumables Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Single Use Consumables Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on single use consumables market size, single use consumables market drivers and trends, single use consumables market major players, single use consumables competitors' revenues, single use consumables market positioning, and single use consumables market growth across geographies. The single use consumables market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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