Dublin, May 22, 2024 (GLOBE NEWSWIRE) -- The "FEP Heat Shrink Medical Tubing - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global FEP Heat Shrink Medical Tubing Market to Reach $210.3 Million by 2030
The global market for FEP Heat Shrink Medical Tubing estimated at US$131.8 Million in the year 2023, is projected to reach a revised size of US$210.3 Million by 2030, growing at a CAGR of 6% over the analysis period 2023-2030. 1.6:1 Shrink Ratio, one of the segments analyzed in the report, is projected to record 6.5% CAGR and reach US$134.8 Million by the end of the analysis period. Growth in the 1.3:1 Shrink Ratio segment is estimated at 5.1% CAGR for the next 8-year period.
The growing preference for plastics-based medical tubes is a significant driver, as these materials offer flexibility, durability, and biocompatibility. The market for FEP heat shrink tubing is particularly buoyed by the rising demand for microcatheters, which are essential in various minimally invasive procedures. Additionally, the increasing aging population globally is propelling the growth of the FEP heat shrink medical tubing market, as elderly patients often require more medical interventions and devices.
The competitive market share scenario worldwide highlights the leading players in this sector, with percentages reflecting their market dominance. As the market evolves, advancements in medical tubing technology and innovations in catheter design are expected to drive further growth and development in this field.
The U.S. Market is Estimated at $49.7 Million, While China is Forecast to Grow at 7.6% CAGR
The global market for FEP heat shrink medical tubing is set for rapid growth, driven by increasing demand for medical plastics and the rising need for advanced medical devices. North America currently constitutes the largest market, while the Asia-Pacific region is expected to witness the fastest growth. The demand for medical tubing and catheters continues to expand, with recent market activities reflecting this trend.
The FEP Heat Shrink Medical Tubing market in the U.S. is estimated at US$49.7 Million in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$27.9 Million by the year 2030 trailing a CAGR of 7.6% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.6% and 5.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 5.5% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 357 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $131.8 Million |
| Forecasted Market Value (USD) by 2030 | $210.3 Million |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
MARKET OVERVIEW
- A Prelude to FEB Heat Shrink Medical Tubing
- Global Economic Update
- Competition
- FEP Heat Shrink Medical Tubing - Global Key Competitors Percentage Market Share in 2023 (E)
- FEP Heat Shrink Medical Tubing Competitor Market Share Scenario Worldwide (in %): 2022E
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Global Market Prospects and Outlook
- Global FEP Heat Shrink Medical Tubing Market Set for Rapid Growth
- North America Constitutes the Largest Market, Asia-Pacific to Witness Fastest Growth
- What's Next for Medical Tubing and Catheter's Market
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Growing Demand for Medical Plastics Propels Market Expansion
- Plastics-Based Medical Tubes Register Strong Demand
- Growing Demand for Microcatheters Spurs the Market for FEP Heat Shrink Tubing
- Increasing Aging Population Bodes Well for Growth of FEP Heat Shrink Medical Tubing Market
- Surgical Procedure Volumes and Shift towards Minimal Invasive Surgeries: Significant Impact on FEP Heat Shrink Tubing Market
- Rising Incidence of Chronic Diseases Drive Demand for FEP Heat Shrink Medical Tubing Market
- Rise in Healthcare Expenditure to Drive Growth
- Peelable HS Tubing Witnesses Rapid Growth
- Increasing Demand for Minimally Invasive Procedures Fuels Interest in Peelable Heat Shrink Tubing (PHST) Solutions
- Rising Demand for Heat Shrink Tubing to Drive Market Growth
- Polyolefin Heat Shrink Tubing Ranks Supreme
- Increasing Demand for FEP HS Sleeving in Medical Device Industry
- Miniaturization to Make Way for Future Advancements
- The Advancement of PHST to Next Generation
- Technological Advancements in the Heat Shrink Tubing Market
- Optinova Unveils FEP QuickShrink 2.0
- Ultra-miniature PHSTs Facilitate in More Precise Microsurgical Processes
- Automaton Processes to Help Tubing Manufacturers Automate their Processes for Increased Efficiencies
FOCUS ON SELECT PLAYERS(Total 60 Featured)
- Adtech Polymer Engineering Ltd
- APT Advanced Polymer Tubing GmbH by Masterflex Group
- ElringKlinger Kunststofftechnik GmbH
- Fluorotherm Polymers, Inc
- Gremtek SAS
- Junkosha Inc.
- Medical Extrusion Technologies Inc.
- Nordson Corporation
- Optinova
- Parker-Hannifin Corporation
- Polyflon Technology Ltd
- Polyfluor Plastics bv
- Shanghai Eco Polymer Sci.&Tech. Co., Ltd
- TE Connectivity Ltd.
- Tef-Cap Industries Inc.
- Teleflex Incorporated
- Zeus Industrial Products, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/yprj5b
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