Medical Tubing Market Investment, Share Forecast, Price and Global Industry News| Lubrizol Corporation, Elkem ASA, Dow Corning Corporation, Nordson Corporation, Teknor Apex, Optinova and others

The global medical tubing market is estimated to grow from USD 6.10 billion in 2017 to USD 15.62 billion by 2027, at a CAGR of 9.0% from 2017 to 2027. Growing awareness and government initiatives to provide high-quality healthcare facilities ultimately drives the medical tubing market globally. Medical tubes are inserted in many medical devices, such as catheters & cannulas, peristaltic pumps, and others. These tubes have exceptional mechanical, thermal, and chemical properties, and are used in a wide range of minimally invasive critical applications, such as cardiovascular catheters, stent delivery systems, urological retrieval devices, and drug delivery systems. These factors ultimately increase the demand for medical tubing globally.

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Market Dynamics Driver: Shift toward minimally invasive medical procedures

The importance of less invasive medical procedures over conventional surgical procedures is increasing, as they ensure benefits such as low cost, quick recovery time, and lesser duration of hospital stays. In addition, the increasing prevalence of diseases such as arthritis, cancer, and cardiovascular diseases, which require complex surgical treatment, has increased the demand for minimally invasive procedure. This has boosted the consumption of plastic polymers, which are ideal for use in catheters and medical tubing. Moreover, medical tubing ensures cost efficiency and less time consumption. For instance, cardiac and urinary catheterization using catheter tubing significantly reduces the time taken for the concerned medical or surgical procedure. Therefore, the growing demand for minimally invasive medical procedure and the need for increasing the efficiency of this procedure play an important role in driving the demand for medical tubing.

The bulk disposable tubing application segment is estimated to lead the medical tubing market during the forecast period.

Disposable medical tubing, also known as common disposable tubing, is designed for single use and can be easily disposed of once used.  The major growth factors driving the bulk disposable tubing segment include the need for modernizing healthcare infrastructure, prevention of infection, and need for increased efficiency. The growth of this segment in developing countries is exponential due to the rising economic growth, increased disposable income and purchasing power, and increasing 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.

The silicone material segment is expected to lead the medical tubing market during the forecast period.

Silicone is a specialty high-performance material used in various industries. It is made by reacting silicon with methyl chloride, and further with water, which removes chlorine atoms. These reactions produce a polymer that is resistant to high & low temperatures making it ideal for use in the medical & healthcare industries. The molecular structure of silicone allows it to be manufactured various forms, including solid, liquid, semi-viscous paste, grease, oil, and rubber forms. Silicone is flexible and resistant to moisture, chemicals, heat, cold, and UV radiation.

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North America is expected to be the largest market for medical tubing during the forecast period.

North America accounted for the largest share of the global medical tubing market and is projected to continue dominating the market during the forecast period due to the focused interest of governments in the region to provide high-quality healthcare facilities. Europe accounted for the second-largest share of 32.4% in the global medical tubing market in 2016, backed by high regulatory policies and the matured healthcare industry in the region.

Major players in the global medical tubing market include 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).

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