Medical Tubing Market to Hit USD 19.7 billion by 2031, at a CAGR 8.1% | Says Transparency Market Research, Inc.

A growing number of chronic diseases and regulatory compliance will drive demand for medical tubing. Advances in technology and the development of new materials will contribute to the growth of the medical tubing market.

WILMINGTON, Del., Jan. 4, 2024 /PRNewswire/ -- The medical tubing industry was valued at US$ 9.8 billion in 2022. In 2031, the industry will reach US$ 19.7 billion, growing at a CAGR of 8.1% between 2023 and 2031. A change in healthcare policy can affect demand for medical tubing due to a change in healthcare policy, increased healthcare spending, and improved healthcare infrastructure.

Advances in materials science and the development of new polymers and coatings offer great potential for improving the performance and functionality of medical tubing. Flexible, biocompatible, and durable materials may contribute to market growth. Medical tubing production and usage can be affected by changes to regulatory standards. The medical industry relies heavily on compliance with safety and quality standards.

Request to Sample PDF of this Strategic Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=53598

Because of patient preferences, home-based and less invasive medical tubing may become very popular. The growing popularity of single-use and disposable medical tubing can be attributed to their lower risk of contamination and infection. Medical devices that can be disposed of directly after use are aligned with this trend in the broader healthcare industry.

Real-time monitoring of various parameters using sensors and other technologies is an emerging trend in medical tubing. Providing continuous vital sign data or other relevant metrics through smart tubing can enhance patient care.

Medical Tubing Market Report Scope:

Key Findings of the Market Report

• The rise in demand for custom medical tubes can be attributed to continuous advancements in drug delivery systems.
• Based on material, silicone will dominate the global medical tubing market.
• Single-lumen tubing is experiencing substantial growth due to its versatility and applicability across diverse medical procedures.
• Globally, bulk disposable tubing accounted for the largest share of the medical tubing market by 2022.
• North America's medical tubing market is expected to grow rapidly in the near future.

Global Medical Tubing Market: Growth Drivers

• Increasing healthcare needs and population growth contribute to the growth of the healthcare industry and the demand for medical tubing. The healthcare industry uses medical tubing for a variety of purposes, such as medical devices, diagnostic equipment, and drug delivery systems.
• The advancement of medical technology often requires specialized tubing that is flexible, biocompatible, and resistant to chemicals. Medical tubing will continue to be in demand as technology continues to progress.
• Across the globe, chronic diseases are on the rise, like cardiovascular disease, diabetes, and respiratory disorders. Devices like catheters, stents, and drug delivery systems often use medical tubing for treatment and management.
• Due to the benefits of reduced recovery times and fewer postoperative complications, minimally invasive surgical procedures have grown in popularity. Many minimally invasive devices use medical tubing, such as catheters, endoscopes, and guidewires.
• Market participants must comply with strict regulatory standards in the healthcare industry. As manufacturers develop products that meet these requirements, biocompatibility and sterilization requirements drive the medical tubing market.
• To minimize adverse reactions in the human body, medical tubing is continuously being developed with enhanced biocompatibility. Medical tubing's performance and characteristics are also improved by polymers and other advanced materials.

Customize The Report According To Your Needs: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=53598

Global Medical Tubing Market: Regional Landscape

• North America is expected to drive demand for medical tubing in the market. Medical tubing is growing rapidly in North America due to chronic diseases and aging populations. In addition to the launch of new products, the popularity of minimally invasive treatments is on the rise, and major players are taking more strategic measures to strengthen their positions.
• Due to technological advancements and the increasing number of research and development activities in the United States, demand for medical tubing is expected to increase. The prevalence of chronic diseases among geriatrics and the number of kidney diseases are expected to grow. For instance, Kidney Disease Statistics for the United States updated in July 2022 estimated that over 1 in 7 adults in this country are affected by chronic kidney disease (CKD), and 37 million Americans are estimated to have kidney disease. The urinary catheter market will be driven by the increasing incidence of CKD in the country.

Global Medical Tubing Market: Key Players

Major medical tubing manufacturers are constantly developing new products to expand their product lines. They also increase global market share through mergers, acquisitions, partnerships, and joint ventures.

• Freudenberg Medical
• Nordson MEDICAL
• MicroLumen Inc.
• Spectrum Plastics Group
• ASCENT INDIA
• NewAge Industries, Inc.
• Absolute Custom Extrusions
• Petro Extrusion Technologies, Inc.
• Shanghai ECO Polymer
• Polytec Plastics, Inc.

Key Developments

• In December 2023, medical tubing technology provider Zeus will be acquired by EQT X under an agreement revealed by EQT X. A financial description of the acquisition has not been provided.
• In December 2023, Nordson MEDICAL, a Nordson Company, introduces Pharma+ Tubing Retainers, an innovative new product that redefining fluid transfer. Professionals in the medical and biopharmaceutical industries can take advantage of these leak-free tubing retainers precisely engineered to meet the critical challenges they encounter.

Global Medical Tubing Market: Segmentation

By Material

• Silicone
• Polyolefins
• Polyimide
• Polyvinyl Chloride
• Polycarbonates
• Fluoropolymers
• Others

By Structure

• Single-lumen Tubing
• Multi-lumen Tubing
• Multi-layer Tubing
• Wire Embedded Tubing
• Others (Medical Pump Tubing, Coiled Tubing, etc.)

By Application

• Bulk Disposable Tubing
• Drug Delivery Systems
• Catheters
• Biopharmaceutical Laboratory Equipment
• Others

By Region

• North America
• Europe
• Asia Pacific
• Rest of the World

Interested to Procure The Data? Inquire here at: https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=53598

More Trending Report by Transparency Market Research:

Dental Dust Collector Market- The industry was valued at US$ 163.4 Mn in 2021. It is projected to grow at a CAGR of 7.5% from 2022 to 2031 and reach more than US$ 343.2 Mn by the end of 2031

Dental Syringe Market- The global industry was valued at US$ 343.4 Mn in 2021. It is projected to grow at a CAGR of 5.1% from 2022 to 2031 and reach more than US$ 577.8 Mn by the end of 2031

Dental Putty Market- The industry was valued at US$ 64.3 Mn in 2021. It is projected to grow at a CAGR of 6.5% from 2022 to 2031 and reach more than US$ 119.9 Mn by 2031.

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com   
Email: [email protected]
Follow Us: LinkedIn | Twitter | Blog | YouTube

Logo: https://mma.prnewswire.com/media/1682871/TMR_Logo_Logo.jpg

SOURCE Transparency Market Research