DUBLIN--(BUSINESS WIRE)--The "Global Medical Tubing Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global medical tubing market is estimated to reach a market size of US$8.224 billion in 2025 from US$5.075 billion in 2019, growing at a CAGR of 8.38%. Medical tubing holds an important role in the medical industry, it is used for a variety of applications for fluid management and drainage among others. Also, medical tubing is utilized in pharmaceutical laboratory equipment applications. The growing medical industry is burgeoning the market demand in the forecast period. The government investments for providing better healthcare facilities worldwide is further driving the market growth over the next five years.
The increasing prevalence of chronic diseases, the presence of the older population at the global level, above 65 years of age, are further fueling the market growth in the forecast period. There is a high prevalence of people diagnosed with heart diseases. According to the World Health Organization (WHO), 17.9 million people die each year due to cardiovascular diseases (CVDs), an estimated 31% of all deaths worldwide. Increasing consumption of tobacco, unhealthy diet and physical inactivity are raising the risk of heart attacks and strokes. According to Centres for Disease Control and Prevention, heart disease has been the major cause of death in the United States in which coronary heart disease is the most common type of heart disease. Obesity is one of the major causes of a heart attack. All these factors are driving the growth of medical tubing market across the globe with the surging number of cardiac patients.
The medical professionals are focusing on a combination of risk factors for these diseases, implementing medical screening for the individuals at risk, and then providing effective treatment to prevent disability and death while improving quality of life. Many cardiac devices are designed to help control irregular heartbeats of a patient with heart rhythm disorders. The rising ageing population is boosting the demand for various efficient healthcare facilities.
The growing polymer industry is significantly contributing to the market growth with a huge application of polymers in healthcare. Furthermore, with the growing drug delivery industry, the market is propelled to grow with high application in the targeted drug delivery. Moreover, with the growing adoption of minimally invasive surgical procedures, the market is projected to grow at a significant pace in the forecast period and in the upcoming years. Geographically, North America is projected to hold a significant market share followed by the European region. While the Asia Pacific region is projected to be the fastest-growing in the forecast period owing to the favourable government initiatives for providing better healthcare facilities in the region.
The presence of dedicated healthcare services which includes remote patient monitoring and management is driving the market demand in the forecast period.
Healthcare facilities, on the basis of disease severity are provided to the patients, these include primary, secondary, tertiary, and quaternary care. Secondary and tertiary care are required for the treatment of serious illnesses, while, the quaternary is an extension of tertiary care and are less prevalent than the other services. These deliver specialized and advanced services for highly specialized treatments and care.
The growing drug delivery industry is driving the market demand where the key market players with certain strategic objectives are developing innovative drug delivery systems, further propelling the market growth in the forecast period.
- Zeus Industrial Products, Inc.
- Teleflex Incorporated
- Optinova Holding AB
- Vesta Inc. (A Lubrizol Company)
- Nordson Corporation
- Putnam Plastics Corporation
- RAUMEDIC AG
- Tekni-Plex, Inc.
W. L. Gore & Associates, Inc.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Market Opportunities
4.4. Porters Five Forces Analysis
4.5. Industry Value Chain Analysis
5. Global Medical Tubing Market Analysis, by Material
5.2. Polyvinyl Chloride
5.5. Silicone Polymers
5.6. Bioabsorbable Polymers
6. Global Medical Tubing Market Analysis, By Structure
6.2. Single Lumen
6.3. Multiple Lumen
6.5. Tapered/Bump Tubing
6.6. Braided Tubing
6.7. Balloon Tubing
6.8. Heat Shrink Tubing
7. Global Medical Tubing Market Analysis, By Application
7.2. Drug Delivery
7.4. Intravenous (IV)
7.6. Feeding Tubes
7.7. Biopharma lab equipment
8. Global Medical Tubing Market Analysis, by Geography
8.2. North America
8.3. South America
8.5. Middle East and Africa
8.6. Asia Pacific
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/2ehrbt