Lewes, Delaware, Aug. 07, 2024 (GLOBE NEWSWIRE) -- The Global Medical Tubing Market Size is projected to grow at a CAGR of 8.01% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 9.05 Billion in 2023 and is expected to reach USD 16.77 Billion by the end of the forecast period.
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Browse in-depth TOC on “Global Medical Tubing Market Size”
202 - Pages
126 – Tables
37 – Figures
Scope Of The Report
| REPORT ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2018-2031 |
| GROWTH RATE | CAGR of ~ 8.01% from 2024 to 2031 |
| BASE YEAR FOR VALUATION | 2023 |
| HISTORICAL PERIOD | 2018-2022 |
| FORECAST PERIOD | 2024-2031 |
| QUANTITATIVE UNITS | Value in USD Billion |
| REPORT COVERAGE | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| SEGMENTS COVERED |
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| REGIONS COVERED |
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| KEY PLAYERS | Americold Logistics, Lineage Logistics, United States Cold Storage, AGRO Merchants Group, Burris Logistics, Kloosterboer, NewCold, VersaCold Logistics Services, Nichirei Logistics Group, Frialsa Frigorificos, Congebec Logistics, Snowman Logistics, Swire Cold Storage, Henningsen Cold Storage, Hanson Logistics. |
| CUSTOMIZATION | Report customization along with purchase available upon request |
Medical Tubing Market Overview
Growing Demand for Minimally Invasive Surgeries: The medical tubing market is seeing a notable rise in demand, thanks to the growing popularity of minimally invasive surgeries. These procedures necessitate accurate and dependable tubing solutions, which in turn fuel the need for inventive tubing materials and designs, ultimately propelling market growth.
Advancements in Medical Technology: Medical tubing market is being driven by the rapid progress in medical devices and equipment. Exciting advancements in tubing materials, like biocompatible polymers, are revolutionizing performance and safety, driving increased usage and fueling market expansion.
Rising Prevalence of Chronic Diseases: With the increasing number of chronic diseases such as cardiovascular diseases and diabetes, there is a growing need for advanced medical tubing to support a wide range of treatments and therapies. The increasing demand for specialized tubing solutions is directly impacting the market, driving overall market expansion.
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Stringent Regulatory Requirements: The medical tubing market encounters difficulties as a result of strict regulatory demands. Adhering to strict safety and quality standards may cause delays in product approvals and market entry, which can impede growth and lead to higher costs for manufacturers.
High Costs of Raw Materials: The exorbitant prices of raw materials, including medical-grade polymers and specialty plastics, present a major challenge for the medical tubing industry. These rising expenses can decrease profit margins and restrict manufacturers' ability to provide competitive pricing, which can have an impact on market growth.
Challenges in Biocompatibility and Safety Standards: Ensuring the compatibility of materials and meeting strict safety standards continues to be a crucial challenge in the medical tubing industry. Not meeting these standards can result in product recalls and harm to the brand's reputation, which can hinder market growth and innovation.
Geographic Dominance:
North America has a strong hold on the medical tubing market due to its advanced healthcare infrastructure, significant investments in research and development, and the presence of key market players. This dominance contributes to the rapid adoption of innovative products and technologies, which in turn boosts market growth. Furthermore, government policies that provide support and significant investments in healthcare contribute to the growth of the market. Nevertheless, the strong presence in this region can lead to intense competition in other areas, which in turn affects the dynamics of the global market.
Medical Tubing Market Key Players Shaping the Future
Major players, including Americold Logistics, Lineage Logistics, United States Cold Storage, AGRO Merchants Group, Burris Logistics, Kloosterboer, NewCold, VersaCold Logistics Services, Nichirei Logistics Group, Frialsa Frigorificos, Congebec Logistics, Snowman Logistics, Swire Cold Storage, Henningsen Cold Storage, Hanson Logistics. and more, play a pivotal role in shaping the future of the Medical Tubing Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry's key players.
Medical Tubing Market Segment Analysis
Based on the research, Verified Market Research® has segmented the global Medical Tubing Market into Material, Application, Structure, And Geography.
- Medical Tubing Market, by Material
- Plastics
- Rubbers
- Specialty Polymers
- Medical Tubing Market, by Application
- Bulk Disposable Tubing
- Catheters & Cannulas
- Drug Delivery Systems
- Specialty Applications
- Medical Tubing Market, by Structure
- Single Lumen
- Co-Extruded
- Multi Lumen
- Braided
- Other
- Medical Tubing Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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