Single Use Consumables Market Research Report 2024-2033 | Size, Share And Overview

"The Business Research Company recently released a comprehensive report on the Global Single Use Consumables Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The single use consumables market size has grown rapidly in recent years. It will grow 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.

The single use consumables market size is expected to see rapid growth in the next few years. It will grow to $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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Market Drivers and Trends:

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. For instance, in January 2023, as published on National Center for Biotechnology Information (NCBI), a US-based international resource for the scientific research community, that by 2050, the count of individuals aged 50 years and above having one or more chronic illnesses will rise by 99.5%, reaching 142.66 million, up from 71.522 million in 2020. Furthermore, in July 2022, according to the Australian Institute of Health and Welfare (AIHW), an Australia-based government agency, in 2020-21, approximately 47% or 11.6 million individuals in Australia were estimated to be affected by at least one of the ten chosen chronic ailments. Therefore, the rising prevalence of chronic diseases is expected to propel the growth of single use consumables market.

Product innovation is a key trend gaining popularity in the single use consumables market. Major companies operating in the single use consumables market are focused on developing innovative products to strengthen their position and gain a competitive advantage. For instance, in September 2021, Colder Products Company (CPC), a US-based plastics manufacturer launched the industry's first aseptic connectors named CPC AseptiQuik connectors. It offers a straightforward and effective means of joining tubing in compact assemblies. These high-performance connectors are designed for critical applications in the biopharmaceutical industry and are ideal for single-use and sanitary applications.

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Major Key Players of the Market:

Thermo Fisher Scientific Inc.; Sartorius AG; Danaher Corporation; Merck KGaA Darmstadt Germany; Avantor LLC; Meissner Filtration Products Inc.; Boehringer Ingelheim International GmbH; Lonza Group AG; Infors AG Bottmingen Switzerland; PBS Biotech Inc.; Entegris Inc.; Kuhner AG Basel Switzerland; Rentschler Biopharma SE Freiburg Germany; Compagnie de Saint-Gobain S.A.; NewAge Industries Inc.; Colder Products Company; Repligen Corporation; Corning Incorporated; Hamilton Company; Broadley James Corporation; Pall Corporation; Eppendorf AG; GE Healthcare; Asahi Kasei Corporation; 3M Company; CESCO Bioengineering Co. Ltd.; Distek Inc.; OmniBRx Technologies LLC; Associates of Cape Cod Inc.; Hypertherm Inc.

Single Use Consumables Market 2024 Key Insights:

• The single use consumables market size will grow to $7.15 billion in 2028 at a compound annual growth rate (CAGR) of 18.1%.
• Surging Chronic Disease Rates Fuel Expansion Of Single-Use Consumables Market
• Innovative Aseptic Connectors Propel Growth In Single-Use Consumables Market
• North America was the largest region in the single use consumables market in 2023

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