Chicago, Nov. 27, 2023 (GLOBE NEWSWIRE) -- The Global Medical Tubing Market is expected to grow at a CAGR of 8.2% to reach USD 15.7 billion by 2028 from USD 10.6 billion in 2023, as per the recent study by MarketsandMarkets™. The market growth is driven by various factors, including the significant demand from healthcare industry. The combination of regulatory frameworks, growing application, increasing market trends, consumer preferences, and technological advancements are driving the medical tubing market.
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Browse in-depth TOC on “Medical Tubing Market”
230 - Market Data Tables
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List of Key Players in Medical Tubing Market:
- Saint-Gobain (France)
- Freudenberg Medical (US)
- W. L. Gore & Associates, Inc. (US)
- Lubrizol Corporation (US)
- TE Connectivity (Switzerland)
- Nordson Corporation (US)
- Elkem ASA (Norway)
- Raumedic AG (Germany)
- Teknor Apex (US)
- Spectrum Plastics Group (US).
Drivers, Opportunities and Challenges in Medical Tubing Market:
- Drivers: Growing demand for minimally invasive medical procedures
- Restraint: Product development requires significant investment of time
- Opportunity: Innovation and customization of polymers and tubing structure
- Challenge: Time-consuming and strict approval process
Key Findings of the Study:
- Rubber is projected to be the largest material of medical tubing, in terms of value, during the forecast period
- Catheters & cannulas is projected to be the largest application of the medical tubing, in terms of value
- North America captures the largest share in the medical tubing market during the forecast period, in terms of value
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Based on material, the medical tubing market has been segmented into plastics, rubbers, specialty polymers, and others. Rubbers have the largest market for medical tubing. Rubber medical tubing is a flexible, hollow tubes made from several types of rubber materials used in medical and healthcare applications. Rubber tubing is commonly used for various medical purpose because they are resistant to certain chemicals and sterilization methods. In the market, rubber medical tubing is available in the various materials including thermoplastic elastomer, thermoplastic polyurethane, silicone, polyurethane, ethylene propylene diene monomer, and latex.
Based on application, the medical tubing market has been segmented into bulk disposable tubing, catheters & cannulas, drug delivery systems, and special applications. Bulk disposable tubing is used in dialysis tubing and intravenous tubing whereas catheters & cannulas are used in cardiovascular catheters, IV catheters, and urinary catheters. Drug delivery systems are used for various applications including nasogastric and nebulizers and special applications of medical tubing is peristaltic pump, gas supply, and smoke evacuation tubing.
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Based on structure, the medical tubing market has been segmented into single-lumen, co-extruded, multi-lumen, braided tubing, and tapered or bump tubing. The various structures are made by combining different polymers using the extrusion process. These structures provide different properties such as high pressure, ultraviolet (UV) protection, flame retardant, antimicrobial, and gamma-ray protection to the tubing, which can be used according to specific applications.
Europe is the second largest market for medical tubing. The region is driven by the increasing demand for minimally invasive procedures, rising geriatric population, and growing adoption of advanced medical technologies. Europe has a well-established regulatory framework for medical devices, which is contributing to the growth of the market.
Saint Gobain
Saint-Gobain is a French multinational corporation that designs, manufactures, and distributes materials and services for the industrial and construction markets. The company is involved in the medical tubing industry through its subsidiary, Saint-Gobain Performance Plastics. Saint-Gobain Performance Plastics specializes in producing a wide range of high-performance materials and components, including medical tubing for healthcare and medical sectors. It offers thermoplastic and fluoropolymer-based medical tubing for application in a multitude of sectors such as hospitals, pharmaceuticals, and laboratories. The company operates through four regional business units including Northern Europe, Southern Europe, Middle East & Africa, Americas, Asia Pacific and a global high performance solutions unit. The company offers medical tubing products under the high performance business unit. The company has operations in Asia, Americas, Europe, and the Middle East & Africa. The company has manufacturing facilities in 75 countries. It is among the largest companies in comparison to other medical tubing companies in terms of revenue generated. They offer a broad portfolio of medical tubing, that covers various medical applications such as minimally invasive surgeries, chemotherapy drug delivery, and dialysis.
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