Pune, Maharashtra Feb 21, 2022 (Issuewire.com) - The global medical tubing market is expected to grow from USD 4.2 Billion in 2020 to USD 8.2 Billion by 2028, at a CAGR of 9.0% during the forecast period 2021-2028.
The medical tubing market is anticipated to grow at a steady growth rate over the forecast period, owing to growing health concerns among geriatric populations and rising demand for medical tubing from a number of applications in the pharmaceutical and medical industries. Medical tubing is an important component for both the medical and pharmaceutical industries. It can be made out of different types of plastic, such as polyvinyl chloride (PVC), thermoplastic elastomers (TPE), nylon, polyethylene, and silicone.
In addition to this, it is used with anesthesiology and respiratory equipment, IVs, peristaltic pumps, catheters, and biopharmaceutical laboratory equipment.
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Key Insights & Findings:
- The plastics segment led the medical tubing market and was valued at USD 1.82 Billion in 2020. This is mainly due to the fact that plastics play an essential role in the production of medical tubes, such as conduits for acquiring biopsy samples, stent holders, and vascular catheters.
- The single-lumen segment led the medical tubing market and was valued at USD 1.44 Billion in 2020. This is mainly due to wide applications of the single-lumen structure of medical tubing in urological, IV, and drainage catheters.
- The bulk disposable tubing application segment accounted for the largest market share and was valued at USD 1.52 Billion in 2020. The growth of this segment is driven by increasing focus on the prevention of infection from one patient to another.
- The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the Medical tubing market with market revenue of 1.54 Billion in 2020. The growth of the Asia-Pacific medical tubing market is mainly driven by well-established medical infrastructure as well as increasing healthcare expenditures activities across the region. However, the Asia Pacific region is likely to register the highest growth during the forecast period due to the number of factors such as rising demand for minimally invasive surgeries, increased healthcare accessibility, and an upsurge in the geriatric population.
Key players operating in the global medical tubing market Saint-Gobai, Freudenberg Medical LLC, Raumedic AG, Lubrizol Corporation, Elkem ASA, W.L. Gore and Associates Inc., Avient Corporation, Dow Corning Corporation, Nordson Corporation, Teknor Apex, and Optinova among others. To enhance their market share in the global medical tubing market, the key vendors are now focusing on adopting prominent strategies such as recent developments, product innovation, mergers & acquisitions, joint ventures, collaborations, and partnerships.
- For instance, in August 2021, Raumedic, a polymer specialist announced the expansion of its silicone business with two new facilities. These facilities are scheduled to be erected at the company’s headquarters by 2025.
- In July 2019, the Lubrizol Corporation acquired Bavaria Medizin Technologie GmbH (BMT), an innovative designer & manufacturer of both intravascular (peripheral, coronary, and cranial) and nonvascular devices.
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Global Medical Tubing Market by Material:
- Plastics
- Rubbers
- Specialty Polymers
Global Medical Tubing Market by Structure:
- Single-lumen
- Co-extruded
- Multi-lumen
- Tapered or Bump tubing
- Braided tubing
Global Medical Tubing Market by Application:
- Bulk disposable tubing
- Catheters & cannulas
- Drug delivery system
- Special applications
Global Medical Tubing Market by Region:
- North America
- USA
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Asia-Pacific
- Japan
- China
- India
- Korea
- Southeast Asia
- South America
- Brazil
- Peru
- The Middle East and Africa
- UAE
- South Africa
- Saudi Arabia
About the report:
This research report gives detailed data about the major factors influencing the growth of the medical tubing market at the national and local level forecast of the market size, in terms of value, market share by region, and segment; regional market positions; segment and country opportunities for growth; Key company profiles, SWOT, product portfolio and growth strategies. It studies the market essential sides such as top participants, expansion strategies, business models, and other market features to improve market insight.
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