Global Medical Tubing Market Size Is Anticipated to Reach $17 Billion by 2030, At a 5.5% CAGR, Despite Shifting Trends

Pittsburgh, PA, Jan. 10, 2023 (GLOBE NEWSWIRE) -- According to Zion Market Research has published a new research report titled “Medical Tubing Market By Product (Polyolefins, Silicone, Polyvinyl Chloride, Polycarbonates, Fluoropolymers, And Others), By Application (Bulk Disposable Tubing, Catheters, Drug Delivery Systems, Biopharmaceutical Laboratory Equipment, And Others) And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030” in its research database.

“According to the latest research study, the demand of global Medical Tubing Market size & share in terms of revenue was valued at USD 10.5 billion in 2021 and it is expected to surpass around USD 17.0 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.5% during the forecast period 2022 to 2030.”

What are Medical Tubing? How big is the Medical Tubing Industry?

Medical Tubing Market Coverage & Overview:

To comply with its norms and criteria, the medical industry uses medical tubing in a variety of medical or pharmaceutical-related applications. It is employed to regulate leakage and fluid. Along with IVs, catheters, peristaltic pumps, and biopharmaceutical laboratory equipment, medical tubing is also employed with respiratory and anesthesiology equipment. Medical tubing must be manufactured using a defined process and particular certifications because it directly affects human anatomy. Medical tubing is produced from particular materials that adhere to the required standards.

The medical tubing market is a rapidly growing segment of the healthcare industry. Medical tubing is used in a wide range of medical devices and equipment, including intravenous (IV) bags, catheters, and blood transfusion bags. The market for medical tubing is driven by factors such as the increasing prevalence of chronic diseases, the growing aging population, and advancements in technology that have led to the development of new medical devices.

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Global Medical Tubing Market: Growth Factors

Increasing demand for medical devices to enhance access to healthcare services & facilities, availability of cost-efficient medical services, and the significant rise of pharmaceutical & healthcare industries are some of the major factors that drive the growth of the global medical tubing market. The healthcare industry has been on the rise over the years.

This promotes innovations in the field, leading to enhanced Research and Development (R&D) activities. R&D in the medical industry leads to the discovery, development, and enhancement of solutions and devices, finding new and better ways to utilize Medical Tubing. Additionally, with initiatives in the healthcare segment, medical services and facilities are available at relatively low expenses. Furthermore, initiatives are put in place to provide access to medical services worldwide, even in remote and rural locations. Subsequently, economic growth, technological advancements, increased health awareness, changing demographics and the high prevalence of a wide range of diseases contribute to the growth of the medical tubing market. However, the health issues related to the insertion of medical tubes are expected to restrain the market growth over the forecast period.

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Report Scope

Medical Tubing Market: Segmentation Analysis

Based on the product, the market is segmented into polyolefins, silicone, polyvinyl chloride, polycarbonates, fluoropolymers, and others. The silicone segment is expected to hold a significant market share over the forecast period. Silicone has various advantages over other materials, such as natural rubber, which is more bio-compatible than rubber medical tubes and does not cause patient allergies. It also has good dimensional stability and is resistant to a variety of environmental conditions such as chemicals, temperature, UV radiation, and X-rays. Platinum-cured silicone tubing, designed for crucial pharmaceutical and biomedical applications, is resistant to adhesion and does not support bacterial growth due to its low surface energy.

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The global Medical Tubing market is segmented as follows:

By Product

• Polyolefins
• Silicone
• Polyvinyl Chloride
• Polycarbonates
• Fluoropolymers
• Others

By Application

• Bulk Disposable Tubing
• Catheters
• Drug Delivery Systems
• Biopharmaceutical Laboratory Equipment
• Others

Browse the full “Medical Tubing Market By Product (Polyolefins, Silicone, Polyvinyl Chloride, Polycarbonates, Fluoropolymers, And Others), By Application (Bulk Disposable Tubing, Catheters, Drug Delivery Systems, Biopharmaceutical Laboratory Equipment, And Others) And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030” Report at https://www.zionmarketresearch.com/report/the-medical-tubing-market

Competitive Landscape

Some of the main competitors dominating the global Medical Tubing market include - 

• The Lubrizol Corporation
• Saint-Gobain Group
• Tekni-Plex
• Optinova
• Zeus Industrial Products Inc.
• Putnam Plastics
• Nordson Corporation
• W. L. Gore & Associates Inc.
• RAUMEDIC AG
• Teknor Apex
• Teleflex Incorporated
• Freudenberg Medical
• Dow
• Avient Corporation
• Coloplast Corp.
• ConvaTec Group PLC
• Boston Scientific Corporation
• Lvd Biotech
• A.P. Extrusion Incorporated
• Elkem ASA

 Key Insights from Primary Research:

• As per the analysis shared by our research analyst, the global medical tubing market is estimated to grow annually at a CAGR of around 5.5% over the forecast period (2022-2030).
• In terms of revenue, the global medical tubing market size was valued at around USD 10.5 billion in 2021 and is projected to reach USD 17.0 billion, by 2030.
• Increasing demand for medical devices, enhanced access to healthcare services & facilities, availability of cost-efficient medical services, and the significant rise of pharmaceutical & healthcare industries are some of the major factors that drive the growth of the medical tubing market.
• Based on the product, the polyvinyl chloride segment held the largest market share in 2021.
• Based on the application, the bulk disposable tubing segment is expected to dominate the market during the forecast period.
• Based on region, the North American region accounted for the largest revenue share in 2021.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Medical Tubing industry?
• What are the main driving factors propelling the Medical Tubing Market forward?
• What are the leading companies in the Medical Tubing Industry?
• What segments does the Medical Tubing Market cover?
• How can I receive a free copy of the Medical Tubing Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2022−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Product, By Application And By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

North America is expected to dominate the global medical tubing market during the forecast period. This is attributable to various factors such as innovations in the field of healthcare & devices, enhanced obesity rate, well-established & advanced healthcare system, and high prevalence of a wide range of metabolic, respiratory, & non-communicable diseases, in the region. Moreover, countries like the US and Canada have well-established healthcare systems. This leads to novel innovations in the medical industry such as multiple non-invasive procedures. Non-invasive procedures are cost-efficient and have relatively quick recovery times. With increased non-invasive procedures, the market for medical tubing increases as well. Additionally, the obesity rate in the region is on the rise. This creates health problems for its residents and increases their reliability on medical devices and procedures. Furthermore, the region has a high prevalence rate of diseases such as diabetes, asthma, respiratory disorders, and cardiovascular diseases. This, in turn, enhances the growth of the medical tubing market, in the region.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In May 2022, HelixFlexTM, a high-purity thermoplastic elastomer TPE tubing intended for use in pharmaceutical and biopharmaceutical applications, was introduced by Freudenberg Medical, a producer of medical and pharmaceutical equipment, components, and tubing. In addition to its current line of silicone tubing and fluid transfer solutions for bioprocessing, pharmaceutical and vaccine production, filling and sampling, peristaltic pumping, laboratory, and medical device applications, Freudenberg has expanded its product line for the pharma industry.
• In February 2022, Imperative Care Inc. introduced Zoom POD Aspiration Tubing, the company's latest advancement in stroke care, which also comprises the Zoom 88 Large Distal Platform for neurovascular access, four Zoom Aspiration Catheters in various sizes, and the Zoom Pump with accessories. The Zoom POD is built into the aspiration tube, reducing the distance between aspiration and filtration while retaining full aspiration power.

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FREQUENTLY ASKED QUESTIONS

• Which key factors will influence the medical tubing market growth over 2022-2030?
• What will be the value of the medical tubing market during 2022-2030?
• Which region will contribute notably towards the medical tubing market value?
• Which are the major players leveraging the medical tubing market growth?

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