Medical Tubing Market To Reach USD 13770 Million By 2026 at a CAGR of 7.2% - Valuates Reports

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Jul 19, 2021, 09:00 ET

BANGALORE, India, July 19, 2021 /PRNewswire/ -- Medical Tubing Market by Type - PVC, Polyolefin, TPE & TPU, Silicone, Other, by Application - Bulk Disposable Tubing, Catheters & Cannulas, Drug Delivery Systems, Other. It is published in Valuates Reports under Medical Devices & Equipment Category.

The global Medical Tubing Market was valued at USD 8418 million in 2019 and is expected to reach USD 13770 million by the end of 2026, growing at a CAGR of 7.2% during 2021-2026.

Major factors driving the growth of the Medical Tubing Market are:

Increasing use in a wide range of minimally invasive critical applications such as cardiovascular catheters, stent delivery systems, urological retrieval devices, and drug delivery is expected to drive the medical tubing market.
Availability of cost-competitive medical-grade plastics, increasing access to healthcare supplies across the globe, are expected to further propel the medical tubing market.

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TRENDS INFLUENCING THE GROWTH OF MEDICAL TUBING MARKET

The shift toward minimally invasive medical procedures is expected to drive the medical tubing market. Minimal invasive medical procedures are becoming more important than traditional surgical procedures, as they provide benefits such as lower costs, faster recovery times, and shorter hospital stays. Furthermore, the rising prevalence of disorders including arthritis, cancer, and cardiovascular disease, all of which require extensive surgical treatment, has boosted the demand for minimally invasive procedures. Plastic polymers, which are suited for use in catheters and medical tubing, have seen an increase in demand as a result of this. Furthermore, medical tubing improves cost efficiency and saves time. As a result, the rising need for minimally invasive medical procedures, as well as the desire to improve the efficiency of these procedures, are boosting demand for medical tubing.

Because of the increased healthcare awareness, and an aging population, the healthcare industry in emerging nations is rapidly evolving, which presents numerous potential for the medical tubing market in the healthcare and medical device industries. The market in emerging countries is expanding primarily due to economic expansion, greater government spending on healthcare facilities, and increased consumer purchasing power. As a result, the medical tubing market is primarily driven by overall growth and increased investment in healthcare infrastructure.

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MEDICAL TUBING MARKET SHARE

Based on type, the PVC held the largest market share of 43.5% in 2018 and is expected to be the most lucrative segment during the forecast period. Because of its capacity to meet the rigorous standards of the healthcare industry, PVC is the most extensively utilized thermoplastic material in medical tube manufacturing. Over the forecast period, an increase in the adoption of single-use pre-sterilized medical equipment is likely to boost product demand.

Based on application, the Catheters & Cannulas are expected to be the most lucrative during the forecast period. Over the projected period, the demand for tubes in the catheter application category is expected to expand significantly. Electrophysiology (EP) ablation, angiographic, and urine catheters are only a few of the catheters that use medical tubes. The wide range of applications for catheters in the healthcare industry is likely to provide medical tube producers with significant growth prospects.

Based on region, North America & Asia-pacific is expected to be the most lucrative regions during the forecast period.

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Segment by Type

PVC
Polyolefin
TPE & TPU
Silicone
Other

Segment by Application

Bulk Disposable Tubing
Catheters & Cannulas
Drug Delivery Systems
Other

BY COMPANY

Saint-Gobain Performance Plastics
Nordson Corporation
Freudenberg Group
Teleflex
Tekni-Plex
Raumedic
B. Braun
W.L.Gore & Associates
Lubrizol (Vesta)
Zeus Industrial Products
Putnam Plastics
Microlumen
Optinova
Ap Technologies
MDC Industries
Teel Plastics Inc.
Polyzen
FBK Medical Tubing, Inc.
A.P. Extrusion
LVD Biotech

BY REGION

North America

U.S.
Canada

Europe

Germany
France
U.K.
Italy
Russia

Asia-Pacific

China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam

Latin America

Mexico
Brazil
Argentina

Middle East & Africa

Turkey
Saudi Arabia
U.A.E

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