Few Regional Players Dominate the Market Holding nearly 45% of Revenue Share Despite the Presence of about 250 Competitors Comprising a Large Number of Country-Niche Players and Some Specialist Players, finds a recent market study on the Global Medical Tubing Market by Ken Research.
Medical tubing is designed for a variety of medical or pharmaceutical-related applications and it allows clinicians to administer devices and fluid or allow for liquid and gas flow. It can be made from different materials such as polyvinyl chloride (PVC), silicon, polyethylene, and others and are available in a variety of shapes and sizes to meet the demand for medical tubing in various applications. Hospitals and clinics are one of the major end-users that observe huge demand for medical tubing products globally.
Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.
1. Global Players constitute about 10% of the Total Number of Competitors While Country Niche Companies Also Have a Strong Presence and Represent ~50% of the Total Competitors
A comprehensive competitive analysis conducted during the Research Study found that the global medical tubing market is highly competitive with ~250 players which include globally diversified players, regional players as well as a large number of country-niche players having their niche in medical tubing. The country niche players comprise about 50% and regional players comprise about 40% in terms of the number of companies. However regional players dominate the market in terms of revenue holding ~45% share. Most of the global players adopt inorganic strategies and expand their medical tubing business through strategic partnerships, acquisitions, and others, whereas country-niche players are involved in acquiring more customers within their operational location.
2. Leading Global Players Focus on Introducing Advanced and Unique Medical Tubing Products
Detailed comparative analysis of key competitors available within the Research Study shows that key players such as Compagnie de Saint-Gobain S.A., Nordson Corporation, Teleflex Incorporated, and Zeus Company Inc. among others are highly focused on providing unique and innovative products and are involved in extensive research and development to identify compatible raw material for medical tubes. Furthermore, several companies are aggressively involved in new product launches, expansion, acquisitions, and other strategies to fulfill the growing demand of end-users.
- In February 2022, Zeus Company Inc. launched a new advanced polymer solution named PTFE Sub-Lite-Wall multi-lumen tubing for steerable catheters. The new multi-lumen tubing has ultra-thin walls, improved planarity, high structural integrity, high lubricity, and excellent dielectric strength and is also biocompatible and has a working temperature of 260°C.
- The new product can be customized as per the requirement of the end user and is available in numerous configurations. The lumen can be external, internal, or embedded. The company aimed to enhance its product portfolio by introducing advanced polymer solutions.
3. Increased Manufacturers’ Initiatives and Governments’ Regulations Promote Medical Tubing Growth and Development
The medical tube manufacturing processes have to go through the highest standards of manufacturing processes such as Good Manufacturing Practice (GMP) and Current Good Manufacturing Practice (cGMP).
- Developed countries such as the USA, Australia, and Japan among others regulate the manufacturing processes as well as the raw materials that are going to be used for the manufacturing of the medical tubes through relevant government bodies such as the FDA in the USA. This ensures that the products that are made available to the public are safe and reliable.
- In May 2021, Tekni-Plex, Inc. introduced a Prototype Solution Service initiative to support medical tubing manufacturers at the design stage of new and innovative tubing products used in critical fluid-transfer applications. The new prototype created is the instrument for testing tubing used in sensitive medical applications such as extremely tight tolerance, layered extrusions, torturous path, lubricity requirements, and pump applications.
- The company aimed to leverage its extensive knowledge of Pebax, PVC, TPE, and urethane materials science and process technology to enable medical tubing manufacturers to overcome its most critical fluid-transfer design challenge.
For more information on the research report, refer to the below link:-
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