Global Medical Tubing Market is expected to record a positive CAGR of ~11% during the forecast period (2022-2028): Ken Research

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What Is the Size of Global Medical Tubing Industry?

Global Medical Tubing market is growing at a CAGR of ~% in 2018-2022 and is expected to reach ~USD Mn by 2028F. The medical grade tubing market is witnessing robust growth in extruded tubing owing to the increasing development of complex, multifunctional, and miniatured medical devices. Innovations in medical device technology are increasing the level of competition and forcing tubing manufacturers to provide quality and functionality in the products whilst reducing the costs. The advancements in technology enable novel procedures that increase the demand for customized, creative, and thermoplastic tubing solutions.

The market for medical grade tubing is expected to grow, especially due to the shift toward minimally invasive surgeries over conventional surgeries.

New technological advancements such as peelable heat shrink tubing offer the highest heat shrink ratios, allowing cost-effective, low tolerance, and baseline materials for manufacturing catheters. One of the most recent advancements in the market is the development of systems used for the measurement of inner diameters of silicone tubes. For instance, Freudenberg Medical recently launched the Helix iMC system, which uses sensor technology for the measurement of inner diameters of single lumen and multi-lumen tubing. The use of plastics in the medical grade tubing is growing significantly. Plastics materials with its versatile nature has emerged as a strong alternative to the conventionally used metals for medical tubing.

Global Medical Tubing market by Application

The Global medical grade tubing market has been segmented on the basis of application into abrasion protection, drug delivery, bulk disposable tubing, catheters, special applications, and other applications. The drug delivery segment is expected to create an incremental opportunity of USD~ million during the forecast period 2022-2028F. The abrasion protection segment is also expected to witness accelerated growth during the forecast period, registering an incremental opportunity of USD~ million.

Bulk disposable tubing, drug delivery, and catheters are the upcoming segments in this field and are estimated the fastest-growing segments during the forecast period 2022-2028F. Catheters are used for a wide range of medical applications, including minimally invasive surgeries.

Global Medical Tubing Market By End-User

The global medical grade tubing market has been segmented based on the end market into three categories, namely, medical, bio-pharmaceutical and life science, and clinical testing. The bio-pharmaceutical and life science segment is expected to create an incremental opportunity of USD ~million during the forecast period 2022-2028F.

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The medical segment also witnessed accelerated growth due to the increasing need for medical tubing for various medical applications. The medical segment is expected to register a CAGR of ~% during the forecast period 2022-2028F. Clinical testing is the upcoming segment in the medical grade tubing market. In terms of market share, the medical segment is the leading end market in the global medical grade tubing market.

Global Medical Tubing Market By Material

The global medical grade tubing market has been segmented on the basis of material into fluoropolymers, polyolefins, polyvinyl chloride (PVC), silicone, thermoplastic elastomers, and other materials. The fluoropolymers segment is expected to create an incremental opportunity of USD~ million during the forecast period 2022-2028F. The PVC segment is also expected to witness accelerated growth during the forecast period, registering an incremental opportunity of USD~ million.

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The silicone material is the fastest-growing segment during the forecast period 2022-2028F. The demand for silicone in the medical and pharmaceutical industry is steadily increasing owing to its bio-compatible nature and mechanical performance.

Global Medical Tubing Market By Structure

The global medical grade tubing market has been segmented on the basis of product type into two categories, namely, single lumen tubing and multi-lumen tubing. The single lumen tubing segment is expected to create an incremental opportunity of USD~ million during the forecast period 2022-2028F. The multi-lumen segment also witnessed accelerated growth due to the increasing need for medical tubing for various medical applications. The single lumen segment is expected to register a CAGR of ~% during the forecast period 2022-2028F. Multi-lumen tubing was valued at USD~ million in 2022 and is expected to reach USD~ million by the end of 2028F, registering a CAGR of ~% during the period forecast 2022-2028F.

For more insights on the market intelligence, refer to the below link:-

Global Medical Tubing Market

3 Key Insights on Competitive Landscape in Global Medical Tubing Market: Ken Research

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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:-

Global Medical Tubing Market

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