NEWARK, Del, Aug. 24, 2023 (GLOBE NEWSWIRE) -- In 2023, the Medical Tubing Market is projected to be worth US$ 13.1 Billion. By 2033, it is anticipated to reach a valuation of around US$ 23.5 Billion. The global market is predicted to surge at a 6.0% CAGR from 2023 to 2033.
Medical tubing is expected to provide an absolute dollar potential worth US$ 10.4 Billion throughout the projected period, according to Future Market Insights (FMI). In 2022, the market was valued at US$ 12.2 Billion.
Need for medical tubing has increased as a result of several significant factors that together make up the contemporary healthcare sector environment. These include ongoing concerns about the state of the world's health, changes in population, modifications to medical procedures, growing public awareness of infection control, and technological advancements.
Backed by the rapid technological advancements in medical treatments and diagnostic techniques, use of more specialized medical tubing has become essential. Medical tubing is an essential tool for carrying out several procedures.
They range from sophisticated imaging techniques to less invasive operations. Hence, there is a higher demand for personalized tubing solutions globally. This is because better accuracy, mobility, and interoperability with state-of-the-art medical equipment are required.
Another factor affecting the need for medical tubing is the world's aging population and other changes in demographics. Continual medical attention, drug administration, and a range of treatment measures are frequently required for elderly people.
Request to Download a Sample Report for more insights into the Medical Tubing Market.
Medical tubing must be used extensively for each of these. Demand for medical tubing that supports elderly care is projected to increase as the global population ages.
Emphasis now is on the patients' comfort and recovery as a result of evolving healthcare practices. As a result, cutting-edge medical equipment has been developed that calls for precisely planned tubing to ensure seamless transmission of fluids, gases, and medications.
Demand for greater comfort, a lower risk of difficulties, and ease of use has led to an increasing need for medical tubing. Patients and medical professionals are both seeking patient-centered treatment today, which could help with demand.
Growing emphasis on infection prevention and control has further boosted the need for medical tubing. Infections related to healthcare remain a key concern.
It might make the development of more sterility- and contamination-resistant materials and designs necessary. Operating rooms, intensive care units, and other high-risk medical environments are examples of where the need for infection-resistant tubing is particularly critical.
Importance of building a robust and adaptable healthcare infrastructure has been brought to light by the COVID-19 pandemic and other recent global health crises. Need for efficient and timely distribution of medical supplies was made obvious by the pandemic.
Key Takeaways from Report:
- The global medical tubing market recorded a CAGR of 7.7% in the historical period between 2018 and 2022.
- South Korea medical tubing industry is projected to witness a CAGR of around 5.6% in the review period 2023 to 2033.
- Japan medical tubing industry is expected to rise at a CAGR of 5.9% in the evaluation period.
- In terms of product, the silicone segment is anticipated to witness a CAGR of 5.8% in the forecast period.
- Based on application, the bulk disposable tubing segment is anticipated to register a CAGR of around 5.7% in the assessment period.
“Trend toward remote monitoring and home healthcare is to blame for the rising use of medical tubing. Technology advancements that enable patients to receive health monitoring at home have reduced the need for lengthy hospital stays. It is hence expected to create new growth avenues for small- and large-scale companies.” – says a lead analyst at Future Market Insights (FMI).
Medical Tubing Market Report Scope:
| Attribute | Details | |
| Estimated Market Size (2023) | US$ 13.1 billion | |
| Projected Market Valuation (2033) | US$ 23.5 billion | |
| Value-based CAGR (2023 to 2033) | 6.0 | % |
| Forecast Period | 2023 to 2033 | |
| Historical Data Available for | 2018 to 2022 | |
| Market Analysis | Value (US$ billion) | |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, Russia, GCC Countries, India, China, Japan, and Australia | |
| Key Companies Profiled |
| |
Take Your Business Acumen to New Heights with Unmatched Market Intelligence. Purchase Now for Profound Insights into the Regional Medical Tubing Market! https://www.futuremarketinsights.com/checkout/17890
Competitive Landscape:
Leading medical tubing producers are looking into global markets to take advantage of the expanding healthcare sectors everywhere. They can access new growth prospects and enlarge their consumer base by extending their presence beyond their local markets.
Collaboration between hospitals, research institutions, and manufacturers of medical devices is becoming increasingly common. By partnering and co-creating innovative solutions, manufacturers can get knowledge of emerging desires and trends. This might also help to guarantee that their products work flawlessly with other medical equipment.
For instance,
- DuPont started operating a new production plant for DuPont Liveo Healthcare Solutions in July 2022 at the Cooper River Site in South Carolina. The new facility will increase its capacity to handle biopharmaceutical tubing extrusion in order to meet the rising demand from Liveo customers.
Medical Tubing Market Outlook by Category
By Product:
- Silicone
- Polyolefins
- Polyimide
- Polyvinyl Chloride
- Polycarbonates
- Fluoropolymers
- Polytetrafluoroethylene (PTFE)
- Fluorinated Ethylene Propylene (FEP)
- Others
By Application:
- Bulk Disposable Tubing
- Drug Delivery Systems
- Catheters
- Biopharmaceutical Laboratory Equipment
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and the Pacific
- East Asia
- Middle East and Africa
Explore FMI’s related ongoing Coverage in the Healthcare Market Domain:
Portable Medical Devices Market Size: The global portable medical devices market is projected to expand at a CAGR of 10.7% during the forecast period. The market is estimated to generate market revenue of US$ 163.84 billion by 2033
Medical Automation Market Share: The global medical automation market size is expected to surpass an impressive valuation of USD 44.45 billion in 2022 and is projected to exhibit a compound annual growth rate (CAGR) of 10.6% from 2023 to 2033.
Medical Disposables Market Trends: Global sales of medical disposables in 2022 were held at US$ 153.5 Billion. With a CAGR of 7.1% from 2023 to 2033, the market is projected to reach a valuation of US$ 326.4 Billion by 2033.
Medical Bed Market Growth: Increasing investment in medical infrastructure is predicted to increase worldwide medical bed market from US$ 3.4 Billion in 2022 to US$ 5.5 Billion in 2032. The medical bed market is expected to expand 4.9% from 2022 to 2032.
Medical Cannula Market Outlook: The global medical cannula market size is forecast to reach US$ 445 Million in 2022. Rising preference for minimally-invasive medical procedures across the world is expected to drive the market at a high 7.3% CAGR to reach a valuation of US$ 783.5 Million by 2030.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
