Yahoo Finance Medical Tubing Market worth USD 14.37 billion by 2028, registering a CAGR of 9.14% - Report by Market Research Future (MRFR)
New York, Sept. 16, 2021 (GLOBE NEWSWIRE) -- Medical Tubing Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Medical Tubing Market Information: By Material (Plastic, Rubber, And Metal), Structure (Single-Lumen, Multi-Lumen), Application (Bulk Disposable Tubing, Catheters & Cannulas, and Others) and Region - Forecast till 2028” the market size is projected to be worth USD 14.37 billion by 2028, registering a CAGR of 9.14% during the forecast period (2021 - 2028)., The market was valued at USD 9.25 billion in 2021.
Market Competitive Landscape:
The distinguished players of the global medical tubing market profiled are:
Saint-Gobain Performance Plastics (U.S.)
Optinova (Finland)
Davis Standard (U.S.)
RAUMEDIC AG (Germany)
Nordson Corporation (U.S.)
Putnam Plastics (U.S.)
Zeus Industrial Products, Inc. (U.S.)
Teleflex Incorporated (U.S.)
Fine Tubes Ltd. (UK)
Tekni-Plex (Pennsylvania)
Lubrizol Corporation (U.S.)
AP Technologies Group Pte. Ltd. (Singapore), among others.
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Market USP Covered:
Market Drivers:
The rising medical sector in both developed and developing areas is propelling the global medical tubing market forward. Globally, the market is being driven by rising healthcare spending, rising health awareness, and a growing elderly population. Because of its biocompatibility and lubricity, surgical implants are in high demand. Non-invasive medical procedures are becoming more common in emerging countries like India and China, which is fueling market expansion. Furthermore, the demand for medical tubing is rising as a result of the rising demand for technically advanced medical devices to satisfy a variety of neurological and surgical applications.
Market Restraints:
The fabrication of medical tubing necessitates a significant financial investment as well as a significant amount of time. Delays in regulatory clearances lengthen the development process, resulting in lower investment in medical product development technologies. To avoid technical and biocompatibility concerns, which take time and money, the market is undergoing continual product innovation. Selecting the best polymer for a specific medical application and examining the application areas for each polymer in medical tubing, for example, is critical and necessitates extensive R&D and technical knowledge.
Browse In-depth Market Research Report (185 pages) on Medical Tubing Industry
https://www.marketresearchfuture.com/reports/medical-tubing-market-6116
COVID-19 Analysis:
The impact of the covid-19 pandemic on the biopharmaceutical tubing market is mixed. covid-19 infection is increasing among patients with pre-existing medical disorders such as asthma and diabetes, which has an impact on market growth. Drug delivery methods and equipment such as nasogastric tubes, nebulizers, and spacer devices are in high demand. As a result, during the forecast period, these factors are driving demand for biopharmaceutical tubing. Many nations, on the other hand, have amended medical device rules as a result of supply chain obstructions, which have a negative impact on the biopharmaceutical tubing market.
Market Scope:
Medical tubing is utilized for a variety of medical and pharmaceutical purposes. It's made out of plastic, rubber, or metal. Medical tubing is also used in bulk disposable tubing, catheters and cannulas, blood draining, peristaltic pumps, and drug delivery systems, among other things. It's mostly made of plastic, but thanks to technical improvements, silicone rubber is becoming more popular due to its great temperature resistance capabilities.
Market Segmentation
The segmentation of the global medical tubing market is done by material, structure and application.
By material, the plastic segment, owing to PVC, is the most prevalent type in the market due to its sustainability. Because of its capacity to meet the rigorous standards of the healthcare industry, it is the most extensively utilised 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.
By structure, the multi-lumen segment is the most dominant segment in the market. This is because, in many medical procedures, the same instrument is used to perform many tasks. Heating and cooling, flushing and aspiration, drug infusion and liquid flow and air passage are all possible using multi-lumen tubes while flow rates are monitored.
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Regional Insights:
Due to its high healthcare spending, North America was the greatest market for medical tubing. The rising senior population, combined with the consumers' high per capita income, is driving greater product consumption. With the advancement of minimally invasive surgery via robot technology and endoscopic procedures, Europe is projected to see a significant increase during the review period. The market in this region is growing because of the rising demand for specialist wound care and easy-to-use home products for dialysis, diabetes, and dental applications.
With the rising healthcare business in the developing countries of India and China, Asia Pacific was the fastest-growing region in the medical market. The market is expanding due to the rising demand for less invasive procedures and improved medical gadgets. Latin America, particularly Brazil and Mexico, is likely to see significant growth in the developing lifestyle procedures industry, such as surgery and non-surgical aesthetics and ophthalmology. Due to an increase in the number of people suffering from obesity and other ailments, the Middle East and Africa are expected to see considerable growth during the study period.
Segmentation of Market covered in the research:
Medical Tubing Market Information: By Material (Plastic, Rubber, And Metal), Structure (Single-Lumen, Multi-Lumen), Application (Bulk Disposable Tubing, Catheters & Cannulas, and Others) and Region - Forecast till 2028
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