New York, Feb. 15, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Medical Tubing Market Size, Share, Growth, Trends and Global Forecast to 2028 - COVID-19 Impact and Global Analysis By Type [Polyvinyl Chloride (PVC), Polyimide/Nylons, PTFE/Thermoplastic Elastomers (TPES), Thermoplastic Polyurethanes (TPUS), Polyvinylidene Fluoride (PVDF), Polypropylene and Polyethylene, Silicon, and Others], Application (Single-Lumen, Multi-Lumen, Multi-Layer Extruded Tubing, Tapered or Bump Tubing, Braided Tubing, Balloon Tubing, Corrugated Tubing, Heat Shrink Tubing, and Others), Application (Bulk Disposable Tubing, Catheter & Cannula, Drug Delivery System, and Others), and End User (Hospitals and Clinics, Ambulatory Care Centers, Medical Device Companies, Laboratories, and Others)”; the global medical tubing market size is driven by increase in number of patients requiring tube feeding, rise in number of minimally invasive surgical procedures and medical tubes with advanced features.
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Global Medical Tubing Market – Report Scope:
| Market Size Value in | USD 11.99 Billion in 2021 |
| Market Size Value by | USD 18.28 Billion by 2028 |
| Growth rate | CAGR of 6.65% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 255 |
| No. of Tables | 111 |
| No. of Charts & Figures | 87 |
| Historical data available | Yes |
| Segments covered | Type, Application, Application, and End User |
Global Medical Tubing Market: Competitive Landscape and Key Developments
Nordson Corp, Microlumen Inc., Polyzen Inc., Accu-Tube LLC, TE Connectivity, Freudenberg Medical LLC, Spectrum Plastics Group Inc, Compagnie de Saint Gobain SA, Optinova AB, Trelleborg AB, and GlobalMed Inc. are among the leading companies operating in the global medical tubing market. These players are focusing on expanding and diversifying their market presence and acquiring a novel customer base, thereby tapping prevailing business opportunities.
In October 2022, Freudenberg Medical announced the launch of its HelixFlex high-purity thermoplastic elastomer tubing. The company designed the HelixFlex tubing for biopharmaceutical fluid transfer applications. The expanded offering adds to Freudenberg’s existing pharma product portfolio of silicon tubing and components for bioprocessing, drug and vaccine manufacturing, filling and sampling, peristaltic pumping, lab, and medical device applications. TPE tubing is ideal for pharmaceutical bioprocessing applications as it can be welded to existing tubing lines; and heat-sealed to allow for easy, fast, and safe fluid transport and transfer in biopharma processes.
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In July 2022, Nordson Corporation announced a strategic business segment realignment that reinforces the company’s focus on its long-term profitable growth strategy. The company had plans of reorganizing into three financial reporting segments effective August 1, 2022. These segments are as follows: Industrial Precision Solutions (IPS), Medical and Fluid Solutions (MFS), and Advanced Technology Solutions (ATS).
In June 2020, Nordson Corporation acquired Fluortek, Inc., an Easton, Pennsylvania-based precision plastic extrusion manufacturer that provides custom-dimensioned tubing to the medical device industry. The acquisition of Fluortek is expected to enhance the company's ability to deliver critical components. This offering further supports Nordson MEDICAL’s position as a leading full-service solution provider of component and device manufacturing capabilities for OEMs across the interventional, minimally invasive, and surgical medical device landscape.
Impact of COVID-19 Pandemic on Global Medical Tubing Market Growth:
The COVID-19 outbreak placed a tremendous strain on healthcare systems across the world. When the pandemic broke out in 2020, medical device supply chains showed signs of potential failure worldwide. Initially, due to the COVID-19 outbreak, countries seized their borders, which hampered the transportation of products. However, the demand for medical tubing surged with an increase in hospital admissions for COVID treatment. Small manufacturers of medical tubes in China and India ramped up their production of medical tubing during the pandemic. Thus, the abovementioned factors indicate a slightly positive impact on the medical tubing market during the forecast period.
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Global Medical Tubing Market - Segment Overview:
Based on structure, the global medical tubing market is divided into single-lumen, multi-lumen, multi-layer extruded tubing, tapered or bump tubing, braided tubing, balloon tubing, corrugated tubing, heat shrink tubing, and others. The single-lumen segment held the largest share of the market in 2021. The market for the tapered or bump tubing segment is expected to grow at the highest CAGR during the forecast period.
The medical tubing market, by application, is segmented into bulk disposable tubing, catheters & cannula, drug delivery system, and others. The bulk disposable tubing segment held the largest market share in 2021. The catheters & cannula segment is anticipated to register the highest CAGR of 7.0% during the forecast period (2022–2028).
Based on end user, the global medical tubing market is divided into hospitals and clinics, ambulatory care centers, medical labs, and others. The hospitals & clinics segment held the largest share of the market in 2021. The market for the ambulatory care centers segment is expected to grow at the highest CAGR during the forecast period.
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