Medical Tubing Market is a growing market with an average CAGR of 12.1% during the forecast period. Asia Pacific (APAC) region had the largest market share of the Medical Tubing market in 2022, and its stock is projected to grow during the forecast period continually.
The importance of less invasive medical procedures compared to conventional surgical procedures is increasing, as they guarantee advantages such as low cost, quick recovery time and shorter hospital stays. Moreover, the escalating prevalence of diseases like arthritis, cancer, and cardiovascular diseases that need complicated surgical treatment, has escalated the call for minimally invasive procedures. This has stimulated the consumption of plastic polymers, which are ideal for use in catheters and medical tubes. In addition, medical tubes guarantee profitability and less time consumption.
For example, cardiac and urinary catheterization using a catheter tube greatly reduces the time required for the medical or surgical procedure involved. As a result, the surge in demand for minimally invasive medical procedures and the need to improve efficiency play a crucial role in promoting the global medical tubing market. More and more older people are witnessing many health problems due to the need to reduce the immune resistance of various treatments involving the use of medical tubes, this medical tubing application is the main driver of the global medical tubing market. People's growing awareness of the advancement of medical facilities and government programs that provide subsidized healthcare facilities is also a factor responsible for the growth of the global medical tubing market. The increasing call for medical devices with medical tubes as part of the equipment drives the demand for tubes.
The medical tubing manufacturing process requires a large investment and time. The delay in regulatory approvals escalates the total advancement process, resulting in fewer funds in medical product advancement technology. The market is subject to continuous product innovation to avoid technical and biocompatibility problems, which involve a lot of time and money. For example, selecting the ideal polymer for a particular medical application and careful examination of the application fields of each polymer in medical tubes are essential, requiring extensive R&D and technical expertise.
The health segment is predicted to rise quickly in the coming five years. Brazil, Russia, India, China, and South Africa (BRICS) are among the quickest-developing economies on the globe. The healthcare industry in developing countries is rapidly evolving due to changing customer needs, and raising awareness of healthcare and aging populations, which, in turn, provide many opportunities for the tube market. The industry in the growing nations is rising majorly owing to economic expansion, escalated spending by respective governments on health facilities, and escalated buying power of customers. Consequently, global development and increased investment in health infrastructure are the main drivers of the medical tubing market.
Strict regulatory policies hinder the marketing of medical products. Regulatory agencies such as the Food and Drug Administration (FDA), the National Science Foundation (NSF), the Drug Administration (DA), and the Center for Devices and Radiological Health (CDRH) establish regulations for the production of medical tubes. Safety and the prevention of health risks are important when using medical tubes, as they come in direct contact with the body. The regulatory requirements and the time required to complete the approval procedure differ from region to region. The approval process also varies by class of medical device. In the United States, the device manufacturer receives a marketing authorization or letter of approval from the FDA. In the European Union, the manufacturer uses the Conformité Européene (CE) mark on the device after receiving the CE certificate from the regulatory body.
REPORT METRIC |
DETAILS |
Market Size Available |
2022-2028 |
Base Year |
2022 |
Forecast Period |
2023-2028 |
CAGR |
12.1% |
Segments Covered |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
|
Market Leaders Profiled |
Zeus Industrial Products (US), Saint-Gobain Performance Plastics (France), Teleflex (US), Optinova (US), Lubrizol Corporation (Vesta) (US), Nordson Corporation (US), Putnam Plastics (US), RAUMEDIC AG (Germany), Tekni-Plex (US), and W. L. Gore & Associates (US) |
PVC
Polyolefin
TPE & TPU
Silicone
Based on the Material, the Silicone segment has the highest market share as of 2019, and it’s expected to remain so in the forecast period. The medical tubes made from Silicone is resistant to high and low temperatures. Apart from that, tubes made from silicone is flexible and resistant to moisture, chemicals, and UV radiation, making it the best choice for the production of medical tubes.
Bulk Disposable Tubing
Catheters & Cannulas
Drug Delivery Systems
Special Applications
The bulk disposable tubing segment is especially growing in developing economies due to the increased disposable income and rising investments by governments to provide superior-quality healthcare facilities. Bulk disposable tubing comprises tubes used in blood bags for blood transfusion, IV infusion tubing, drug delivery disposables, respiratory disposables, products for dialysis, laboratory disposables, and wound management disposables.
Europe
Asia Pacific
Latin America
Middle East and Africa
The Asia Pacific (APAC) region is the largest and fastest-growing market for Medical Tubing across the globe which is majorly driven by high disposable income and government initiatives to provide superior healthcare. APAC region is projected to continue its dominance in the Medical Tubing market during the forecast period. Countries such as China and Japan have a rapidly growing aging population which plays a crucial role in market growth. Apart from the APAC region, North America and Europe also have a growing population of aged people which is driving the medical tubing market in that region.
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