The global medical tubing market size is expected to be worth around US$ 25.36 billion by 2030, according to a new report by Vision Research Reports.
The global medical tubing market size was valued at US$ 13.9 billion in 2020 and is anticipated to grow at a CAGR of 8.0% during forecast period 2021 to 2030.
Get Sample Copy of This Report (Including TOC, List of Tables & Figures, and Chart)@ https://www.visionresearchreports.com/report/sample/38828
Medical Tubing Market (By Product: Silicone, Polyolefins, Polyvinyl Chloride, Polycarbonates, Fluoropolymers; By Application: Bulk Disposable Tubing, Drug Delivery Systems, Catheters, Biopharmaceutical Laboratory Equipment) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
Report Coverage
| Report Scope | Details |
| Market Size | US$ 25.36 billion by 2030 |
| Growth Rate | CAGR of 8.0% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product, application |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Asahi Tec Corp.; MDC Industries; Nordson Corp.; ZARYS International Group; Hitachi Cable America, Inc.; NewAge Industries, Inc.; TE Connectivity; Freudenberg & Co. KG; Spectrum Plastics Group; ATAG SpA; Saint-Gobain; Bentec Medical; Trelleborg AB; MicroLumen, Inc.; Optinova; Vanguard Products Corp. |
Growth Factors
Rising access to healthcare supplies worldwide, easy availability of cost-competitive medical-grade plastics, and increasing demand for medical devices that integrate tubing are the major factors driving the market. Increasing consciousness about Hospital-Acquired Infections (HAIs) along with increasing concerns about the spread of these infections are anticipated to boost the demand for disposable medical devices. Rising strategic alliances within the medical equipment industry across the globe are expected to drive the market.
OEMs demand medical tubing solutions that are easier to replace and reduce the risks of drug contamination and infection. A wide variety of specialized tubes, such as braided, balloons, and multi-layer, are introduced by key manufacturers to meet the varied requirements of end-users. Key manufacturers are setting up new manufacturing plants to increase the production capacity.
By Product Analysis
The Polyvinyl Chloride (PVC) segment led the market and accounted for more than 29.5% of the global revenue share in 2020. The increasing adoption of single-use pre-sterilized medical devices has led to the increased demand for PVC-based medical devices. PVC can also be sterilized using irradiation and ethylene oxide sterilization methods.
Polyolefins are highly used in diameter medical tube devices as they require materials with a unique combination of strength and flexibility.
Silicone is estimated to register the second-fastest CAGR of 7.7% from 2020 to 2030. Silicone medical tubing is used in medical implants, feeding tubes, and catheters where biocompatibility is important
The demand for polycarbonates is witnessing significant growth as they can be sterilized using all major methods, such as irradiation (both gamma and electron-beam), ethylene oxide, and steam autoclaving, which gives the device manufacturer broad flexibility in determining the most cost-efficient method for a product.
By Application Analysis
The bulk disposable tubing segment led the market in 2020 and accounted for more than 35% share of the global revenue. Bulk disposable devices include surgical instruments, urological products, syringes, and needles.
Catheters are narrow tubes composed of medical-grade materials that serve a variety of roles in medical applications. They are introduced into the body of patients to treat diseases or to perform surgeries.
The drug delivery systems segment is expected to register the fastest CAGR of more than 9% from 2020 to 2030. Various types of drug delivery systems, such as injectable, respiratory, and connected drug delivery systems, use medical tubes to deliver the drugs to the target location.
The demand for diagnostic equipment is experiencing fast-paced growth to detect and mitigate diseases in the initial stages. Pneumatic tubes and blood collection tubes&equipment are expected to witness significant demand over the forecast period.
By Regional Analysis
North America led the market in 2020 and accounted for more than 37% of the global revenue. North America is anticipated to maintain its leading position throughout the forecast period as the U.S has kept its R&D tax credit low.
The well-established medical infrastructure and increasing healthcare expenditures are expected to drive the product demand in Europe. Steady demand for minimally invasive and diagnostic equipment, which use medical tubes, is also anticipated to boost the market growth over the forecast period.
Key Players
Market Segmentation
The study objectives of this report are:
Buy This Premium Research Report, click here@ https://www.visionresearchreports.com/report/cart/38828 or call: +1 9197 992 333
Vision Research Report, Recently Announced New Report on "Smart Lock market - Global Industry Analysis,…
Vision Research Report, Recently Announced New Report on "2D barcode reader market - Global Industry…
Vision Research Report, Recently Announced New Report on "commercial refrigeration equipment market - Global Industry…
Vision Research Report, Recently Announced New Report on "Restaurant Point-of-Sale Terminal market - Global Industry…
Vision Research Report, Recently Announced New Report on "vacuum cleaner market- Global Industry Analysis, Market…
Vision Research Report, Recently Announced New Report on "household refrigerators and freezers market - Global…