LONDON, Jan. 30, 2017 /PRNewswire/ -- The U.S. medical copper tubing market is expected to reach USD 0.7 billion by 2025, according to a new report by Grand View Research, Inc. Advantages of copper tubing system over traditional system for medical gas supply and presence of advanced & sophisticated healthcare infrastructure in the U.S. are some of the major factors propelling industry growth. In addition, compliance with the regulatory standards help manufacturers produce and market their products by ensuring the quality and safety of products. Thus, the demand for these products is expected to gain momentum in near future.
Strategic collaborations and partnerships continue to be seen in this sector. Also, the leading vendors have focused on strengthening their distribution channel by expanding their distribution centers and service centers, which is expected to fuel the industry growth in the long run. However, risks associated with installation of copper tubing and intense competition among vendors are major factors restraining the growth of this market.
Further Key Findings from the Study Suggest:
The type K tubing segment was the highest revenue generating segment of the market in 2015.
The demand for type K tubing is high and is expected to remain on the rise during the forecast period due to its frequent use in medical copper tubing system. Thus, the boost in demand of this product taking into account its high price is a vital factor contributing to the sector's largest share in the market.
The oxygen application is estimated to be the largest shareholder segment due to its huge demand in hospitals and critical care centers in 2015.
The above segment's highest share is attributed to the presence of a large patient base suffering from chronic diseases, such as chronic obstructive pulmonary disease and heart diseases.
The hospital segment led the overall industry in terms of revenue in 2015. The continuous supply of medical gas is essential in hospitals, primarily in ICU, OT, and CCU. Thus, there is an escalating demand for copper tubing in hospitals, which is expected to drive the sector growth.
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