Medical Tubing Market Size Worth $11.9 Billion By 2025 | CAGR: 9.2%: Grand View Research, Inc.

SAN FRANCISCO, Feb. 4, 2020 /PRNewswire/ -- The global medical tubing market size is expected to reach USD 11.9 billion by 2025, expanding at a revenue-based CAGR of 9.2%, according to a new report by Grand View Research, Inc. An increase in health expenditure by individuals and increasing emphasis by the government on healthcare are expected to stimulate market growth over the forecast period.

Key suggestions from the report:

• The demand for PVC tubes is anticipated to reach USD 3.3 billion by 2025 owing to the rising demand for single-use pre-sterilized medical devices which are transparent, biocompatible, and offer high resistance to chemicals
• The biopharmaceutical laboratory equipment segment is anticipated to witness a CAGR of 10.8% in terms of revenue on account of rising demand for diagnostic equipment in order to detect diseases in the initial stages and mitigate higher treatment costs
• The silicon segment accounted for 24.2% market share in 2018 in terms of revenue as the product offers flexibility and high tear strength along with improved resistance to temperatures ranging from -750oF to 5000oF
• Asia Pacific is anticipated to witness a CAGR of 10.6% in terms of revenue over the forecast period owing to rise in advancements in terms of medical device regulations and technologies in countries such as China, Japan, India, and South Korea
• The manufacturers are investing in R&D activities in order to provide innovative technologies along with acquiring vertical integration strategies to expand and strengthen their presence across the globe.

Read 100 page research report with ToC on "Medical Tubing Market Size, Share & Trends Analysis Report By Product (Silicone, Polyolefins), By Application (Bulk Disposable Tubing, Catheters, Drug Delivery Systems), By Region, And Segment Forecasts, 2019 - 2025'' at: https://www.grandviewresearch.com/industry-analysis/medical-tubing-market

The fast aging population and increasing number of people looking for high-quality life are expected to offer opportunities to the manufacturers that innovate and produce a diverse range of products. Increasing chronic disease incidences across the globe is further likely to drive product demand for several types of medical devices.

The demand for medical tubes in wound therapy, stent tubes, and implant-grade tubes owing to their cost effectiveness is anticipated to boost market growth. The advent of negative wound therapy wherein plastic tubes are used to remove infectious materials and fluids is expected to further propel product demand over the forecast period.

Growing consciousness regarding hospital-acquired infections coupled with rising concerns related to the spread of such infections is expected to surge the demand for single-use or disposable healthcare devices. Increasing strategic alliances among the medical device industry players is anticipated to propel the demand for disposables, thereby driving the medical tubing market.

Grand View Research has segmented the global medical tubing market based on product, application, and region:

• Medical Tubing Product Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
• Silicone
• Polyolefins
• Polyvinyl Chloride
• Polycarbonates
• Fluoropolymers
• Others
• Medical Tubing Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
• Bulk Disposable Tubing
• Drug Delivery Systems
• Catheters
• Biopharmaceutical Laboratory Equipment
• Others
• Medical Tubing Product by Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
• Silicone
• Bulk Disposable Tubing
• Drug Delivery Systems
• Catheters
• Biopharmaceutical Laboratory Equipment
• Others
• Polyolefins
• Bulk Disposable Tubing
• Drug Delivery Systems
• Catheters
• Biopharmaceutical Laboratory Equipment
• Others
• Polyvinyl Chloride
• Bulk Disposable Tubing
• Drug Delivery Systems
• Catheters
• Biopharmaceutical Laboratory Equipment
• Others
• Polycarbonates
• Bulk Disposable Tubing
• Drug Delivery Systems
• Catheters
• Biopharmaceutical Laboratory Equipment
• Others
• Fluoropolymers
• Bulk Disposable Tubing
• Drug Delivery Systems
• Catheters
• Biopharmaceutical Laboratory Equipment
• Others
• Others
• Bulk Disposable Tubing
• Drug Delivery Systems
• Catheters
• Biopharmaceutical Laboratory Equipment
• Others
• Medical Tubing Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Russia
• Spain
• Italy
• Netherlands
• Asia Pacific
• China
• India
• Japan
• Australia
• Singapore
• South Korea
• Central & South America
• Brazil
• Middle East & Africa
• South Africa

Find more research reports on Plastics, Polymers & Resins Industry, by Grand View Research:

• Medical Device Packaging Market – The medical device packaging market is anticipated to grow significantly over the forecast period.
• Medical Plastics Market – The global medical plastics market size was estimated at USD 22.26 billion in 2018 and is projected to expand at a CAGR of 6.1% form 2019-2025.
• Medical Polymers Market – The global medical polymers market size was estimated at USD 12.34 billion in 2016, growing at a CAGR of 8.4% over the forecast period.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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