Medical Tubing MarketMedical TubingMarketwas valued at USD 8.19 Billion in 2021 and is projected to reach USD 15.59 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 9.30% from 2022-2028. Medical tubes are used for a variety of purposes, such as multiple disposal tubes, catheters and cannulas, drug delivery systems and special applications. As a result of the COVID-19 epidemic, the medical industry saw an increase in the use of medical devices. The market for medical tubes has grown at an unprecedented rate due to the epidemic. The demand for respiratory tubes, drug delivery tubes, and IV tubes, etc., increased. In the US, the length of IV tubes is increased at the hospital to be placed outside the hospital rooms due to the infectious nature of the COVID-19 epidemic.
The rising number of adults has greatly increased the demand for medical equipment including tubes, thus driving the market for medical tubes. According to the United Nations (UN) world populations aging 2020, there are an estimated 727 million people aged 65 and over worldwide. The majority of older people are recorded in developing regions, while limited to developed areas. These human tendencies will increase the need for portable, lightweight medical equipment and tubes. The use of equipment such as home-care equipment, patient monitors, and enteral feeding machines will signal a rapid growth rate in these regions. The demand for tubes and equipment related to cardiovascular disease is predicted to grow. Although, the process of producing a medical tube requires a high and long 10;Delays in regulatory authorization amplify the development process as a whole, thereby resulting in a decrease in investment in medical product development technology. The Medical Tubing Market is facing continuous product renaming to avoid technical problems and biocompatibility, which brings in additional costs and time. For example, choosing the right polymer for a specific medical system and considering the application areas for each polymer in medical tubes is important, requiring in-depth R&D and technical knowledge. This also requires different authorization procedures, which may require different authorization periods. For example, FDA regulations are likely to be more complex and expensive in the future, which may increase the time required for approval of medical equipment such as medical tubes. Regulatory authorization processes also vary from region to region, making trading and marketing of products difficult for manufacturers.
The Global Medical Tubing Market is divided on material basis such as silicone, polyolefin, polyvinyl chloride, polycarbonates, fluoropolymers and more. On the basis of application, the market is divided into bulk disposal tubes, drug delivery systems, catheters, biopharmaceutical laboratory equipment and 10;The portion of bulk disposable tubes is significant within this segment as theneed for developing healthcare infrastructure, infection prevention, and need for increased efficiency is steadily rising. While based on structure, the Medical Tubing Market is segmented into single-lumen, co-extruded, multi-lumen, tapered or bump tubing, and braided tubing.
Key players in the Medical Tubing Market are spread over the regions of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Some of these major players in market include Asahi Tec Corp., MDC Industries, Nordson Corp., ZARYS International Group, Hitachi Cable America Inc., NewAge Industries, Inc., TE Connectivity, Freudenberg & Co. KG, Spectrum Plastics Group, ATAG SpA, Saint-Gobain, Bentec Medical, Trelleborg AB, MicroLumen, Inc., Optinova, Vanguard Products Corp..
Apr 19, 2024
