The global Medical Tubing Market is Growth Accelerated by Increasing Demand for Medical Devices

 

Medical tubing are crucial components of medical devices as they are used to deliver drugs, gases and other fluids within medical equipment. Medical tubing enhances the safety, accuracy and comfort level of patients undergoing various medical procedures. Growing prevalence of chronic diseases and rising geriatric population have fueled the demand for various medical devices which utilize medical tubing. The global Medical Tubing Market is estimated to be valued at US$ 9,550.5 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increasing demand for various medical devices utilized in interventional radiology, oncology and cardiology procedures has accelerated the growth of the medical tubing market over the past few years. As per studies, the demand for minimally invasive surgical procedures has increased significantly owing to benefits such as low risk of infection, less pain and blood loss, faster recovery and reduced need for hospital stay. To cater to the rising number of minimally invasive procedures, medical device manufacturers are focusing on development of advanced catheters, guidewires and balloon systems which utilize various types of medical grade tubing. This has created lucrative opportunities for manufacturers in the medical tubing market.
Segment Analysis
In the medical tubing market, PVC is dominating sub-segment. PVC tubes find widespread applications in medical devices owing to their excellent chemical resistance, ease of processing and printability. PVC offers good tensile strength and is cost effective. These properties make PVC an ideal material for medical tubing applications.

Key Takeaways
The global medical tubing market is expected to witness high growth over the forecast period of 2023 to 2030. Regional analysis related content comprises, North America regions holds the largest share in the medical tubing market due to high healthcare expenditure and presence of key players in the region.

Key players operating in the medical tubing market are Compagnie de Saint-Gobain S.A., Teleflex Incorporated, Optinova Holding AB, Zeus Industrial Products, Inc., The Lubrizol Corporation, Nordson Corporation, Putnam Plastics Corporation, Raumedic AG, Tekni-Plex, Inc., and Smith Group plc.

Regional analysis related content comprises
North America dominates the global medical tubing market owing to increasing healthcare expenditure, higher adoption of advanced medical devices and rising prevalence of chronic diseases in the region. The region held around 35% of the global market share in 2023. Rapid increase in the aging population and high number of surgeries being performed daily in countries like the U.S. and Canada are driving the medical tubing market in North America.

Key players related content comprises
Key players operating in the medical tubing market are focusing on new product launches. For instance, in April 2022, Compagnie de Saint-Gobain S.A. launched a new medical tubing product line called BioPerformance. Made from medical-grade polymers like PVC, TPE and TPU, BioPerformance tubing offers excellent biocompatibility for demanding medical applications.

Regional analysis
Asia Pacific is expected to grow at the fastest rate during the forecast period due to rapidly developing healthcare infrastructure, increasing number of hospitals and surgical centers and growing medical tourism in emerging countries like India and China.

Key players
Compagnie de Saint-Gobain S.A. leads the global medical tubing market and has a strong product portfolio across various sub-segments and end uses. Teleflex Incorporated is another major player focusing on R&D to develop specialty medical tubing with enhanced functionality.

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