Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Medical Tubing Market Analysis - Global Industry Size, Share, Trends and Forecast 2018-2026”, forecasts that the global medical tubing market size is expected to reach around USD 12.0 billion by 2026, this market is projected to grow with 10.2% CAGR during the forecast time period.
Rising applications of medical tubing in numerous medical devices, for instance, diagnostic equipment, catheters,and disposable medical equipment are anticipated to boost the medical tubing market demand during the forthcoming years. Plastic is the most chosen material in the manufacturing of medical gadgets captures of its properties, for instance, impact strength&higher tensile, chemical resistance.
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High penetration of the minimally invasive and single-use gadgets in the healthcare sector and increase in the need for high value-added products, for instance, tracheostomy tubes, cystoscopies, endotracheal tubes, and catheters also increased the need for on plastics. As a result, various specialty plastics manufacturers, for instance, Mitsui Chemicals, Solvay, Arkema AG, Eastman Chemical Company, and BASF SE, have flourished in the plastics manufacturing sector.The polymer materials growth in medical applications is quickening at a speedy pace. Such as, in angioplasty processes, flexible plastic tubes are substituting metal tubes to support damaged artery walls.
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Polymer materials are being used in a multiplicity of equipment, for instance, artery catheters,intravenous tubing,hemodialy sis tubing,and angioplasty catheters. Manyof the polymers, for instance, polyamide and polycarbonate, are considered as raw materials and are extruded using relevant extrusion methods comprise of blow molding,injection molding, and others for emerging consumer-specific medical-grade tubes. Increasing emphasis on healthcare infrastructure growth paired with augmented production of high-quality gadgets is anticipated to boost the need for the biopharmaceutical laboratory equipment, predominantly in Asia Pacific and North America.
Important capital investment in the healthcare industry and increase the numeral of patients requiring medical care under the Patient Protection and Affordable Care Act are boosting the medical tubing market in U.S. The market is also anticipated to observer marvellous development in developing economies on account of growing ageing population. As per the Organization for Economic Cooperation and Development (OECD), one-third of the global health expenses are anticipated to be contributed by the developing economies by 2022. Supportive government initiatives are anticipated to deliver important business opportunities for the surgical instrument and disposable gadgets producers during the forthcoming years.
The global medical tubing market is segmented into polymer, application and region.On the basis of polymer, the global medical tubing market is segmented into silicone, polyolefins, polyvinyl chloride, polycarbonates, fluoropolymers, and others. On the basis of application, the global medical tubing market is segmented intobulk disposable tubing, drug delivery systems, catheters, biopharmaceutical laboratory equipment, and others. On the basis of region the global medical tubing market is segmented into Latin America, Europe, Asia Pacific, North America, and Middle East & Africa.
North America and Asia Pacific are the most alluring areas for the medical tubing makers. North America is a mature market while the emerging economies in Asia Pacific are relied upon to prosper with huge development openings driven by China and India. High item request in North America was driven by U.S. Starting at 2017, North America remained the biggest provincial market and is required to proceed with its predominance over the forthcoming years.
Starting at 2016, as indicated by the International Trade Administration, there are in excess of 6,500 restorative gadget producers in U.S. The medicinal gadget showcase in the nation is expanded and delivers a wide assortment of items for symptomatic and treatment purposes. A portion of the real producers in North America are Degania Silicone, Inc.;BiomericsATL;Confluent Medical Technologies;
Rose Medical Center;Ribbel International Limited;and Alpha Medical Instruments, LLC.
Market companies are concentrating on implementing new strategies for instance regional expansion, partnerships, mergers and acquisitions, new product launches, and distribution agreements to surge their revenue share. And also, growing R&D investments paired with technical advancements to commercialize highly efficient products are expected to offer huge growth opportunities for industry participants. Some of the main businesses present in the medical tubing market are Freudenberg & Co.KG, Spectrum Plastics Group, TE Connectivity Ltd, Hitachi, Ltd., and Saint Gobain. Significant strategic initiatives undertaken by global businesses include partnerships, new product launch, acquisitions.
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