Medical Tubing Market to Rise at 10.0% CAGR during Forecast Period 2023-2030, Data By Contrive Datum Insights

Farmington, Feb. 19, 2023 (GLOBE NEWSWIRE) -- The Global Medical Tubing Market Size Is Expected To Grow From USD 4.9 Billion In 2022 To USD 7.9 Billion In 2030, At A CAGR Of 10.0% From 2023 To 2030. Medical tubing is used in a number of ways in the medical and pharmaceutical industries to meet their needs and standards. It is used to control water flow and drainage. Medical tubing is also used in equipment for breathing and anaesthesia, as well as in intravenous lines, catheters, peristaltic pumps, and biological laboratory equipment. Since medical tubing is used directly on people, it must be made according to certain standards and certifications.

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Medical tubing is made out of certain materials that meet the standards. Why minimally invasive medicine is better than traditional surgery More surgeries are being done because they offer benefits like quick healing, low costs, and short stays in the hospital. Also, diseases like arthritis, cancer, and heart disease are becoming more common. These diseases are treated with complex surgeries, so the need for minimally invasive procedures is growing. This makes more people want plastic polymers, which are good for making catheters and medical tubing. Also, medical tubing makes sure that everything works well and saves time.

Medical Tubing Market Recent Developments:

• In 2017, Nordson Corporation acquired the Medical Advanced Technologies division of Vention (USA), a manufacturer, designer and developer of catheters, medical catheters and medical devices.
• In June 2021, Zeus acquired contract manufacturer CathX Medical. Cathy provides catheter design, engineering and manufacturing. This acquisition gives Zeus a foothold in contract manufacturing in the medical device market.

Regional Outlook:

North America will lead the market and bring in 37.8% of the world's revenue in 2021. This is because the country has a strong industrial base and a lot of raw materials, a large number of elderly people, an advanced healthcare infrastructure, and a large number of patients in countries like the U.S. and Canada. Some of the most important things that drive the health care industry in the region are the amount of money people have to spend on themselves.

In Europe, product demand is likely to be driven by a well-established medical infrastructure and rising healthcare costs. Over the next few years, the market is also expected to grow because of steady demand for minimally invasive and diagnostic devices that use medical tubing. Asia-Pacific is thought to be the fastest-growing region because people there want better health care products. This has made medical device companies focus on coming up with new ways to reach more people. Also, the growing number of older people and the growing number of people who want minimally invasive procedures are driving the demand for healthcare services.

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Scope of Report:

Market Drivers:

Demand for medical devices with tubing is largely driven by the number of older people, which in turn drives the medical tubing market. The UN's 2020 World Population Aging Report says that there are about 727 million people worldwide who are 65 or older. By 2050, this number is expected to have doubled. Most of the increase in older people is seen in developing countries, while the increase is smaller in developed countries. By 2050, it is expected that the countries with the most people will be China, India, the United States, Indonesia, Brazil, and Nigeria. As these countries health care systems get better, life expectancy goes up.

Market Restraints:

The process of making medical tubing takes a long time and a lot of money. Delays in regulatory approvals make the whole development process take longer, which makes technology investments in the development of medical products go down. The market is always coming up with new products to avoid technical and biocompatibility problems, which add time and money. For example, choosing the best polymer for a certain medical application and carefully studying how each polymer is used in medical tubing is very important and requires a lot of research, development, and technical know-how.

Market Opportunity:

Over the next five years, the global healthcare industry is likely to grow quickly. In the Asia-Pacific region, growth rates are expected to be lower, while the economies of Brazil, Russia, India, China, and South Africa (known as BRICS) are the fastest-growing in the world. In developing countries, the healthcare industry is growing quickly because customer needs are changing, people are becoming more aware of health care, and the population is getting older. This means that there are many opportunities for medical tubing in the healthcare and medical device industries.

Medical Tubing Market Key Segments Covered:

Top Market Players:
Saint-Gobain Performance Plastics, W.L.Gore & Associates, Teleflex, Nordson Corporation, B. Braun, Freudenberg Group, Zeus Industrial Products, Raumedic, Tekni-Plex, Lubrizol (Vesta), MDC Industries, FBK Medical Tubing, Inc., Putnam Plastics, LVD Biotech, Teel Plastics Inc., Ap Technologies, Microlumen, A.P. Extrusion, Polyzen, Optinova, and Others.

By Material:

• Plastics
  • Polyvinyl chloride (PVC)
  • Polyolefin
    • Polyethylene (PE)
    • Polypropylene (PP)
  • Polyamide
  • Polyterafluoroethylene (PTFE)
  • Poly ether ether ketone (PEEK)
  • Perfluoroalkoxy (PFA)
  • Polycarbonate (PC)
• Rubbers
  • Thermoplastic elastomer (TPE)
  • Thermoplastic polyurethane (TPU)
  • Silicone
  • Polyurethane (PU)
  • Ethylene propylene diene monomer (EPDM)
  • Latex
• Specialty Polymers
  • Bioabsorbable polymer
  • Ethylene vinyl acetate (EVA)

By Structure

• Single-lumen
• Co-extruded
• Multi-lumen
• Tapered or Bump tubing
• Braided tubing

By application:

• Bulk disposable tubing
• Catheters & cannulas
• Drug delivery system
• Special applications

Regions and Countries Covered

• North America: (US, Canada, Mexico, Rest of North America)
• Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
• Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
• The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
• Latin America: (Brazil, Argentina, Rest of Latin America)
• Rest Of the World

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