The global Medical Tubing Market Size is expected to reach US$ 16.3 billion by 2030 from US$ 8.6 billion in 2020and is expected to grow at an impressive double-digit rate of 9.1% from 2021 to 2030.
The study includes drivers and restraints of this market. The study provides an analysis of the global Medical Tubing Market for the period 2016-2030, wherein 2021 to 2030 is the forecast period and 2020 is considered as the base year.
Why should you invest in this report?
If you are aiming to enter the global Medical Tubing Market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Medical Tubing are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030, so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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Growth Factors
Increasing demand for medical devices, growing popularity of minimally invasive surgical procedures, increasing healthcare expenditure, and growing geriatric population are among major factors boosting growth of the global industry. Additionally, increasing prevalence of chronic ailments such as cardiovascular and urological disorders is fueling growth of the medical tubing market worldwide. Moreover, rapidly increasing awareness regarding hospital-attained infections is having positive impact on the growth of global industry. Further, increased focus on the improvement of healthcare infrastructure in developing regions and growing investment by major market players on research and development are other factors to boost growth of the global market during the forecast time frame.
Swift advances in technology have encouraged the use of plastics in an assortment of medical procedures. In the United States and Western Europe, existence of better healthcare has led to a higher share of both pediatric as well as aging populations, age groups that account for the larger part of those getting treatment by invasive and after-care practices. Together with the recent upsurge in infectious ailments, this inclination has led to a considerable increase in the usage of pre sterilized single-use medical products. Numerous medical procedures comprise the transmission of solutions to or from the patient, and use a wide variety of flexible tubing device. These factors are expected to propel the demand for extruded medical tubing products over the forecast timeframe.
Report Highlights
- Based on medical condition, cardiovascular segment reported largest revenue in 2020. This is accredited to high incidence of cardiovascular disorders globally. Further, advancements in the minimally invasive surgical procedures are expected to boost the growth of the segment in the near future.
- On the basis of application, disposable tubing accounted for the weighty share in the target industry. This is due to increasing awareness regarding hospital-acquired infections.
- Based on end user segment, hospitals accounted for the largest revenue with significant portion in estimate period of time. Factors such as accessibility of latest equipment’s and availability of funds are driving growth of the segment.
- Based on material type segment, polyvinyl chloride (PVC) accounted for the largest revenue share majorly due to capability of PVC to withstand medical applications.
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Key Market Players and Strategies
- Teleflex Incorporated
- L. Gore & Associates
- The Lubrizol Corporation
- Saint-Gobain Performance Plastics
- Zeus Industrial Products, Inc.
- Freudenberg Medical
- Tekni-Plex
- Raumedic AG
- The Dow Chemical Company
- Nordson Corporation
Major Market Segments Covered:
By Medical Condition
- Gastrointestinal
- Cardiovascular
- Ophthalmic
- Urological
- Neurovascular
- Others
By Application
- Drug Delivery Systems
- Catheters
- Special Applications
- Disposable Tubing
- Cannulas
- Others
By Material Type
- Polyethylene (PE)
- Silicone
- Engineering Plastics
- Polyvinyl Chloride (PVC)
- Polypropylene (PP)
- Polyolefin
- Others
By End-User
- Ambulatory Surgical Centers
- Hospitals
- Others
Regional Analysis:
The geographical analysis of the global Medical Tubing Market has been done for North America, Europe, Asia-Pacific, and the Rest of the World.
The North American market is again segmented into the US, Canada, and Mexico. Coming to the European market, it can be segmented further into the UK, Germany, France, Italy, Spain, and the rest. Coming to the Asia-Pacific, the global Medical Tubing Market is segmented into China, India, Japan, and Rest of Asia Pacific. Among others, the market is segmented into the Middle East and Africa, (GCC, North Africa, South Africa and Rest of the Middle East & Africa).
Key Questions Answered by the Report:
- What will be the size of the global Medical Tubing Market in 2030?
- What is the expected CAGR for the Medical Tubing Market between 2021 and 2030?
- Which are the top players active in this global market?
- What are the key drivers of this global market?
- How will the market situation change in the coming years?
- Which region held the highest market share in this global market?
- What are the common business tactics adopted by players?
- What is the growth outlook of the global Medical Tubing Market?
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