The Medical Tubing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Medical Tubing Global Market Report 2024, The medical tubing market size has grown rapidly in recent years. It will grow from $11.95 billion in 2023 to $13.25 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to medical device manufacturing, infection control, cardiovascular procedures, surgical applications, miniaturization and microfluidics.
The medical tubing market size is expected to see rapid growth in the next few years. It will grow to $21.03 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%. The growth in the forecast period can be attributed to precision medicine, telemedicine services, biodegradable materials, global health initiatives, geriatric population. Major trends in the forecast period include neurology and brain monitoring, drug delivery innovation, diagnostic advancements, biocompatibility, tissue engineering.
The rising cases of respiratory diseases are driving the growth of the medical tubing market. Respiratory diseases such as asthma, lung cancer, pulmonary fibrosis, and others are caused by tobacco smoking, air pollution, allergens, and occupational risks. Increasing respiratory diseases are expected to strengthen the demand for medical tubes as they are an essential component of ventilators that facilitate breathing. For instance, according to the study published in the Centers for Disease Prevention and Control, the percentage of COPD, emphysema, or chronic bronchitis, among adults aged above 18 years in the USA increased from 4.6% in 2020 to 5.0% in 2021. Thus, the rising cases of respiratory diseases will propel the growth of the medical tubing market.
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The medical tubing market covered in this report is segmented –
1) By Product: Silicone, Polyolefins, Polyvinyl Chloride, Polycarbonates, Fluoropolymers, Other Products
2) By Application: Bulk Disposable Tubing, Drug Delivery Systems, Catheters, Biopharmaceutical Laboratory Equipment, Other Applications
3) By End-User: Hospitals, Clinics, Ambulatory Surgical Centers, Medical Labs, Other End-Users
Product innovation is a key trend gaining popularity in the medical tubing market. Key players are focusing on launching new innovative medical tubes with innovative features to improve the outcome of the usage. The companies are utilizing advanced manufacturing processes and the latest technologies to launch innovative medical tubes, which are unique and designed to be effective and efficient. The braided medical tube is one of the most distinctive innovations now in use. The peculiarity of the braided tube’s design ensures and expands the capabilities of catheters and medical tubing. A braided tube is an excellent approach for improving the flexibility and strength of existing medical equipment. Braided tubing is utilized in various medical operations including cardiovascular and neurovascular surgery and endoscopic treatments involving the gastrointestinal digestive system. For instance, In January 2021, Zeus Industrial Products, Inc., a South Carolina-based provider of polymer solutions launched braid and coil-reinforced polyamide tubing, which assists design engineers in utilizing key properties such as torque ability, flexibility, and strength in the development of new catheter designs.
The medical tubing market report table of contents includes:
1. Executive Summary
2. Medical Tubing Market Characteristics
3. Medical Tubing Market Trends And Strategies
4. Medical Tubing Market – Macro Economic Scenario
5. Global Medical Tubing Market Size and Growth
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26. South America Medical Tubing Market
27. Brazil Medical Tubing Market
28. Middle East Medical Tubing Market
29. Africa Medical Tubing Market
30. Medical Tubing Market Competitive Landscape And Company Profiles
Top Major Players:
- Saint-Gobain S.A
- Freudenberg Medical LLC
- W.L. Gore & Associates Inc
- Avient Corporation
- Raumedic AG
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