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Global Medical Tubing Market Driven by the Growing Healthcare Expansion in Emerging Economies
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Global Medical Tubing Market Overview -
The estimated projections for the medical tubing market size are expected to rise at USD 14.37 billion by 2028, incorporating a CAGR of 9.14% during the forecast of the medical tubing market share. The Valuation of the medical tubing market is held to be at USD 9.25 billion in 2021.
The development of the global demand for medical tubing market is motivated by the expansion of the medical sector in both developed and emerging regions. Rising healthcare spending coupled with increased health awareness and growing geriatric population is driving the market globally. Thanks to biocompatibility and lubricity the market for the substance rises in surgical implants. In addition, the increasing awareness of hospital-acquired infections coupled with rising fears about the dissemination of those infections is projected to raise demand for single-use or disposable medical devices. The strategic partnerships within the medical devices market are projected to expand the scope of disposable medical devices across the globe, That is driving the medical tubing industry. Growing cases of non-invasive medical care procedures are further propelling the development of the industry in developing nations like India and China. In addition, the growing demand from technically sophisticated medical instruments to fulfil numerous neurological and surgical applications is growing the market for medical tubing.
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Some of the eminent players in the global medical tubing market are AP Technologies Group Pte. Ltd. (Singapore), Zeus Industrial Products, Inc. (U.S.), Saint-Gobain Performance Plastics (U.S.), Nordson Corporation (U.S.), Teleflex Incorporated (U.S.), Fine Tubes Ltd. (UK), Davis Standard (U.S.), Tekni-Plex (Pennsylvania), RAUMEDIC AG (Germany), Optinova (Finland), Lubrizol Corporation (U.S.), and Putnam Plastics (U.S.).
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Medical Tubing Market - Segments:
The global medical tubing market is analyze into structure, applications, material, and region.
On the basis of material, the global medical tubing market is divided into plastic, rubber, and metal. Among these, plastic is sub-divided into polylactic acid (PLA), polyvinyl chloride (PVC), polyether ether ketone (PEEK), polyethylene (P.E.), polypropylene (P.P.), polyamide, polytetrafluoroethylene (PTFE), perfluoroalkoxy (PFA), polycarbonate (P.C.), fluorinated ethylene propylene (FEP), bioabsorbable polymers, polyester, ethylene-vinyl acetate (EVA). Rubber is further sub-segmented into thermoplastic elastomer, silicone, and polyurethane. Metal is further sub-segmented into steel, aluminum, titanium, and others.
On the basis of the structure, the market is segregated into multi-lumen, co-extruded, coiled, tapered or bump, braided, balloon, single-lumen, high-pressure, heat shrink, thin-walled, microextrusion.
Based on the application, the market is divided into bulk disposable tubing, draining blood, catheters & cannulas, drug delivery systems, and unique applications. Among these, bulk disposable tubing is sub-divided into dialysis & intravenous. Catheters are sub-segmented into intravenous, cardiovascular, and urinary catheters. Special applications are sub-segmented into a smoke evacuation, peristaltic pump, gas supply, and feeding tubes.
Global Medical Tubing Market - Regional Analysis
The market is segmented, depending on the region, into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Due to high healthcare spending in this area, North America was the largest medical tubing sector. Product intake is growing as a result of the increasing geriatric population combined with high customer per capita income. According to the International Trade Administration, the U.S. accounted for 40 percent of the overall medical device market share with a business value of USD 140 billion in 2015.
Europe is expected to see substantial growth over the evaluation era, with the advancement of robot technology and endoscopy to minimally invasive surgery. Increasing demand for advanced wound care and easy-to-use home products for dialysis, diabetes, and dental applications are driving this region's market growth.
Asia Pacific has been the fastest-growing medical market region with the growing healthcare sector in India and China's developing economies. Business growth is driven by increasing demand for minimally invasive procedures and advanced medical equipment.
The area of Latin America is expected to show considerable growth in the the market for lifestyle procedures such as surgical and non-operational aesthetics & ophthalmology, particularly in Brazil and Mexico.
Owing to the the number of people suffering from obesity and other diseases, the Middle East and Africa are expected to see substantial growth during the evaluation period with rising healthcare industry.
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