Medical Tubing Market Growth & Trends
The global medical tubing market size is expected to reach USD 19.50 billion by 2030 according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.7% from 2022 to 2030. The rising respiratory diseases such as pulmonary fibrosis, asthma, and lung cancer are expected to increase the demand for medical tubing as it is a significant component of respiratory devices such as ventilators that facilitate breathing.
Plastics play an important role in the manufacture of medical tubes such as vascular catheters and stent holders due to their inertness to body fluids and tissues, resistance to sterilization conditions, low cost for high volume applications, and higher optical properties. Thus, medical tubes made of plastics are witnessing increased adoption in medical devices.
The growing middle-class population and healthcare facilities have changed the attitude of consumers toward preventive healthcare, which is expected to augment the demand for medical devices, including medical tubing, over the forecast period. In addition, the growing awareness of hospital-acquired diseases is projected to drive demand for disposable medical devices.
The recent Covid-19 pandemic has led to an increase in hospitalizations, augmenting the demand for medical-grade plastics used for making tubes for enhanced patient care in intensive care units. Furthermore, countries have increased their share of investments in the healthcare sector to fight the pandemic which is expected to boost product demand.
The rising geriatric population and increasing awareness regarding health have increased hospital and clinical visits and have increased the number of preventive treatment operations which has increased the demand for medical devices including medical tubing.
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Medical Tubing Market Report Highlights
Silicone product segment accounted for 24.2% of the global market share in 2021 Silicone tubing is highly used in medical devices as it provides gasketing, sealing, and safe fluid transfer properties which cannot be achieved by using other materials
Polyolefins are particularly preferred when the medical devices are to fulfill the regulatory requirements established by the FDA. On account of these factors, polyolefins are expected to witness huge growth over the forecast period
Drug delivery systems are designed to provide therapeutic drugs to patients in a targeted and controlled manner. The emphasis on improving the efficacy of the drug delivery rate is propelling the demand for medical tubes in the drug delivery systems application segment
The Asia Pacific regional market is expected to witness the fastest CAGR of 7.0% from 2021 to 2030, owing to the rapid advancement in technology, increase in healthcare expenditure, and strict regulations about the medical device industry
In August 2021, Nordson Corporation acquired NDC Technologies. The aim behind the acquisition is to expand the former’s test and inspection platform into new end markets and adjacent technologies
Access Press Release@ https://www.grandviewresearch.com/press-release/global-medical-tubing-market
Medical Tubing Market Segmentation
Grand View Research has segmented the global medical tubing market based on product, application, and region:
Medical Tubing Product Outlook (Revenue, USD Million, 2017 - 2030)
Silicone
Polyolefins
Polyvinyl chloride
Polycarbonates
Fluoropolymers
Others
Medical Tubing Application Outlook (Revenue, USD Million, 2017 - 2030)
Bulk Disposable Tubing
Drug Delivery Systems
Catheters
Biopharmaceutical Laboratory Equipment
Others
Medical Tubing Regional Outlook (Revenue, USD Million, 2017 - 2030)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Russia
Spain
Italy
Netherlands
Asia Pacific
China
Japan
India
Australia
Singapore
South Korea
Central & South America
Brazil
Middle East & Africa
South Africa
List of Key Players of Medical Tubing Market
ASAHI TEC CORPORATION
MDC Industries
Nordson Corporation
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 Corporation
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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