Global ESR Tubes Market, by Material Type (Plastic and Glass), By End User (Hospitals, Speciality Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 105.1 million in 2020 and is expected to exhibit a CAGR of 5.3% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Global ESR Tubes Market - Impact of Coronavirus (COVID-19) Pandemic
Following the COVID-19 outbreak in December 2019, the virus has spread to more than 100 countries across the globe and the World Health Organization has declared it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in more than 29.6 million infected individuals worldwide as of September 2020. The COVID-19 pandemic has affected the global economy in three main ways; by directly affecting production and demand, by negatively impacting the supply chain and market disruption, and through its financial impact on firms and financial markets. Nationwide lockdowns in various countries such as Italy, Spain, U.K., U.S., Australia, India, and others have hampered growth of the medical health industry.
Moreover, severe economic crisis and broken supply chain of the medical industry are major issues faced by the global ESR tubes producing companies across the globe. The pandemic has negatively impacted the medical healthcare industry in terms of supply and demand for devices. As a result, the global ESR tubes market growth is also expected to witness a slowdown.
The slowdown of medical device companies’ manufacturing processes have also impacted the on global ESR tubes market.
Browse 19 Market Data Tables and 17 Figures spread through 122 Pages and in-depth TOC on Global ESR Tubes Market, by Material Type (Plastic and Glass), By End User (Hospitals, Speciality Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), - Forecast to 2027"
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Moreover, key players in the global ESR tubes market are adopting strategies such as distribution agreement that allow companies to enhance revenue in various regions, which is expected to propel growth of the global ESR tubes market. For instance, in March 2017, Sysmex America signed a distribution agreement with Alifax S.r.l. for its erythrocytes sedimentation rate products. Alifax ESR analyzers are an exciting addition to the Sysmex portfolio.
Key Takeaways of the Global ESR Tubes Market: