Global Medical Tubing Market to Reach US$ 19.4 Billion by 2028, Bolstered by Various Product Innovations

February 21, 2022 | Healthcare

The latest report by IMARC Group, titled “Medical Tubing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global medical tubing market reached a value of US$ 12.7 Billion in 2022. Medical tubing refers to a piece of equipment that allows clinicians to administer fluids and devices or transfer gas. It is used along with respiratory and anesthesiology equipment, IV, catheter, peristaltic pump, and biopharmaceutical laboratory equipment. This hollow cylindrical pipe is manufactured from silicone, polyethylene, nylon, thermoplastic elastomers (TPE), and polyvinyl chloride (PVC). Medical tubing offers enhanced durability, flexibility, hardness, and resistance to temperature, pressure, and abrasion. Consequently, it finds application across medical laboratories, ambulatory centers, hospitals, and healthcare clinics.

Global Medical Tubing Market Trends:

The market is primarily driven by the rising prevalence of chronic diseases, cancer, and respiratory diseases such as asthma, lung cancer, and pulmonary fibrosis. Besides this, the onset of coronavirus disease (COVID-19) has escalated the demand for respiratory devices, such as ventilators, which are incorporated with components like medical tubing that facilitate breathing. Recently, the rising awareness regarding hospital-acquired diseases and the spread of infectious diseases is also increasing the demand for disposable medical devices like medical tubing, thus fueling the market growth. In addition to this, medical tubing is cost-efficient and reduces the time taken for the medical and surgical procedure, thereby propelling the product demand across the globe. Furthermore, the significant rise in the geriatric population that prefers minimally invasive (MI) procedures due to faster recovery time and smaller incisions is also facilitating the market growth. Furthermore, extensive investments in research and development (R&D) activities have led to the launch of paratubing devices, where fluids and gases are supplied and removed at the same time. On account of these factors, the market is expected to reach a value of US$ 19.4 Billion by 2028, exhibiting a CAGR of 7% during the forecast period (2023-2028).

Market Summary:

Based on the product, the market has been segmented into silicone, polyolefins, polyvinyl chloride, polycarbonates, fluoropolymers, and others.
On the basis of the structure, the market has been classified into single-lumen, co-extruded, multi-lumen, tapered or bump tubing, and braided tubing.
The market has been categorized based on the application into bulk disposable tubing, drug delivery systems, catheters, biopharmaceutical laboratory equipment, and others.
On the basis of the end user, the market has been segregated into hospitals and clinics, ambulatory surgical centers, medical labs, and others.
Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has been examined, with some of the key players being ATAG SpA, Avient Corporation, Bentec Medical, Hitachi Limited, Microlumen Inc., NewAge Industries Inc., Nordson Corporation, Optinova, Spectrum Plastics Group, TE Connectivity Limited, Trelleborg AB, and Vanguard Products Corporation.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Product, Structure, Application, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	ATAG spa, Avient Corporation, Bentec Medical, Hitachi Ltd., Microlumen Inc., NewAge Industries Inc., Nordson Corporation, Optinova, Spectrum Plastics Group, TE Connectivity Ltd., Trelleborg AB and Vanguard Products Corporation
Customization Scope	10% Free Customization
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Global Medical Tubing Market to Reach US$ 19.4 Billion by 2028, Bolstered by Various Product Innovations

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