DUBLIN--(BUSINESS WIRE)--The "Medical Tubing Market Size, Share & Trends Analysis Report by Product (Silicone, Polyolefins), by Application (Bulk Disposable Tubing, Catheters), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global medical tubing market size is expected to reach USD 19.50 billion by 2030. The market is expected to expand at a CAGR of 5.7% from 2022 to 2030. The rising respiratory diseases such as pulmonary fibrosis, asthma, and lung cancer are expected to increase the demand for medical tubing as it is a significant component of respiratory devices such as ventilators that facilitate breathing.
Plastics play an important role in the manufacture of medical tubes such as vascular catheters and stent holders due to their inertness to body fluids and tissues, resistance to sterilization conditions, low cost for high volume applications, and higher optical properties. Thus, medical tubes made of plastics are witnessing increased adoption in medical devices.
The growing middle-class population and healthcare facilities have changed the attitude of consumers toward preventive healthcare, which is expected to augment the demand for medical devices, including medical tubing, over the forecast period. In addition, the growing awareness of hospital-acquired diseases is projected to drive demand for disposable medical devices.
The recent Covid-19 pandemic has led to an increase in hospitalizations, augmenting the demand for medical-grade plastics used for making tubes for enhanced patient care in intensive care units. Furthermore, countries have increased their share of investments in the healthcare sector to fight the pandemic which is expected to boost product demand.
The rising geriatric population and increasing awareness regarding health have increased hospital and clinical visits and have increased the number of preventive treatment operations which has increased the demand for medical devices including medical tubing.
Medical Tubing Market Report Highlights
- Silicone product segment accounted for 24.2% of the global market share in 2021 Silicone tubing is highly used in medical devices as it provides gasketing, sealing, and safe fluid transfer properties which cannot be achieved by using other materials
- Polyolefins are particularly preferred when the medical devices are to fulfill the regulatory requirements established by the FDA. On account of these factors, polyolefins are expected to witness huge growth over the forecast period
- Drug delivery systems are designed to provide therapeutic drugs to patients in a targeted and controlled manner. The emphasis on improving the efficacy of the drug delivery rate is propelling the demand for medical tubes in the drug delivery systems application segment
- The Asia Pacific regional market is expected to witness the fastest CAGR of 7.0% from 2021 to 2030, owing to the rapid advancement in technology, increase in healthcare expenditure, and strict regulations about the medical device industry
- In August 2021, Nordson Corporation acquired NDC Technologies. The aim behind the acquisition is to expand the former's test and inspection platform into new end markets and adjacent technologies
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Variables, Trends & Scope
Chapter 4. Medical Tubing Market: Product Estimates & Trend Analysis
Chapter 5. Medical Tubing Market: Application Estimates & Trend Analysis
Chapter 6. Medical Tubing Market: Regional Estimates & Trend Analysis
Chapter 7. Competitive Analysis
Chapter 8. Company Profiles
- Asahi Tec Corporation
- Mdc Industries
- Nordson Corporation
- Zarys International Group
- Hitachi Cable America Inc.
- Newage Industries Inc.
- Te Connectivity
- Freudenberg & Co. Kg
- Spectrum Plastics Group
- Bentec Medical
For more information about this report visit https://www.researchandmarkets.com/r/q9mem7