The global medical grade tubing market size is expected to reach USD 10.44 Billion at a steady revenue CAGR of 8.8% in 2030, according to the latest analysis by Emergen Research. Widespread use of medical grade tubes as well as significant investments by prominent market participants in medical tubing is driving market revenue growth.
The Global Medical Grade Tubing market drivers and restraints Market report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals.
Medical tubing is commonly used for ventilators, but it is also used to support access devices and as a distribution mechanism for other equipment. Medical grade tubing is also used to drive catheters in cardiac catheterizations to test for heart disease and locate narrowing blood vessels, to measure pressure and oxygen levels in various parts of the heart, to check pump functions, for biopsy, to diagnose congenital heart defects, and identify heart valve issues.
Medical grade tubing is being used in the healthcare industry as a potential feature to drain fluids after an operation and to supply nutrients to the body. As a result, demand for medical grade tubing is rapidly growing. Factors such as availability of wide range of products, odorless and tasteless properties, and broad range of applications, such as gastrointestinal cancer treatment, short bowel syndrome, microscopic colitis, and others, are currently driving revenue growth in global medical grade tubing market.
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Some major factors expected to hamper market growth include significant investments and time required for product development, inadequacy to provide a good seal, difficult size selection, and high maintenance. In spite of all these drawbacks, various benefits and advantages of medical grade tubing is expected to drive deployment during the forecast period.
The major companies Covered in the report are:
Teleflex Medical OEM, Contech Medical Inc., Bio-Chem Fluidics, Inc., Tekni-Plex, Inc., Freudenberg Medical, LLC, Polyzen, Inc., NewAge Industries, International Polymer Engineering, Inc., RAUMEDIC AG, Saint-Gobain S.A.
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This report is the latest document discussing the current economic situation gravely impacted by the COVID-19 outbreak in detail. The global health emergency has led to massive changes in the global economy and the Medical Grade Tubing business sphere. The current scenario of this ever-evolving business vertical has been clearly depicted in the report, which contains a broad analysis of the pandemic’s present and future effects.
Segments Covered in this report are:
- Material Outlook (Revenue, USD Billion; 2018–2030)
- Polyvinyl Chloride
- Polyolefin
- Thermoplastic Elastomer and Thermoplastic Polyurethane
- Silicone
- Others
- Application Outlook (Revenue, USD Billion; 2018–2030)
- Bulk Disposable Tubing
- Catheters Cannulas
- Drug Delivery Systems
- Special Applications
- Structure Outlook (Revenue, USD Billion; 2018–2030)
- Single-Lumen
- Co-Extruded
- Multi-Lumen
- Tapered tubing
- Braided tubing
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Some Key Highlights From the Report
- In February 2020, Teleflex Medical OEM announced acquisition of IWG High-Performance Conductors (HPC), a manufacturer of medical tubing and wire components. The acquisition is expected to strengthen Teleflex Medical OEM\'s position in the field of custom-engineered medical devices, as well as provide clients with technologies used in electrophysiology, drug-and stent-delivery, and neurovascular interventions. It also broadens and diversifies Teleflex Medical OEM\'s in-house capabilities portfolio.
- Catheters cannulas segment accounted for a significantly large revenue share in 2020. Healthcare industry acknowledge the benefits earned by the use of catheters and cannulas, such as administration of fluids and medications, removal of fluids or urine from the body, and the provision of oxygen. This has resulted in high preference for catheters and cannulas among end-users.
- Silicone segment accounted for a significantly large revenue share in 2020. Temperature, chemicals, Ultraviolet (UV) radiation, and x-rays are all resistant to silicone tubes. They also have high resistance toward adhering to body tissue and do not support microbial growth which is driving its demand.
- Co-extruded segment accounted for a significantly large revenue share in 2020. These products are commonly used in packaging of medical devices. They are also used in drug delivery applications such as insulin administration, angiography, and pain management. Catheters and dual-layer tubing are also made from co-extruded tubing. Furthermore, these products are preferred due to their adaptability, versatility, and low cost.
- Market in Asia Pacific registered fastest revenue growth rate during the forecast period owing to rising demand for minimally invasive medical procedures in healthcare sector in this region. Increase in healthcare accessibility is also contributing to market revenue growth.
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Key Parameters Analyzed in This Section:
- Company Profiles
- Gross Revenue
- Profit margins
- Product sales trends
- Product pricing
- Industry Analysis
- Sales distribution channels
Regional Segmentation:
- North America
- Latin America
- Europe
- Middle East Africa
- Asia Pacific
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