21-February-2019: The global medical tubing market size is expected to reach USD 11.95 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 9.1% over the forecast period. Owing to their inertness to body tissues and fluids and low cost for high volume applications plastic materials play an important role in the manufacturing of products, such as conduits for acquiring biopsy samples, stent holders, and vascular catheters. On account of their advantages, such as resistance to sterilization conditions and higher optical transparency, plastic products are witnessing increased adoption in medical equipment.
Medical tubes are inserted into the body through nose or mouth to deliver anesthesia or oxygen. Depending on the functionality and application of the device, the products are manufactured in various shapes using specific polymers. In the healthcare industry, surgeons and other end-users prefer miniature devices that enhance the performance of surgical operations. Tubes with smaller and thinner diameter are mostly used in endoscopic miniature devices, which are used for medical connectivity to transfer data from a patient or a medical device to an analytical system.
As per the National Health Services, England, the number of endoscopic procedures is expected to increase from approximately 650,000 in 2011 to 900,000 by 2020. Many other surgical procedures using minimally invasive devices are also expected to increase in the coming years, thereby driving the demand for medical tubes. Rise in consumer disposable income in developing countries, growing geriatric population, and advances in healthcare facilities are some of the key factors driving the medical tubing market.
The highly fragmented U.S. market is witnessing consolidation as major medical plastic manufacturers and medical device Original Equipment Manufacturers (OEM) are synergizing with various market players in the value chain. For instance, specialty plastics manufacturers, such as Kelcourt Plastics, Inc.; PEXCO LLC; and PPC Industries Inc., merged and formed Spectrum Plastics Group. In 2017, Nordson Corporation integrated horizontally forward across the value chain by acquiring Vention Medical AT, a U.S.-based manufacturer of minimally invasive delivery devices.
In depth research report on Medical Tubing Market
Further key findings from the study suggest:
· Silicone polymer segment will be the fastest-growing segment over the forecast period. Due to properties such as hydrophobicity, chemical resistance, and thermal stability, silicone polymers are increasingly used in the manufacturing of diagnostic guide wires, defibrillators, suture sleeves, over-molded surgical blade, and heart pumps
· Bulk disposable tubing was the largest application segment in 2017 and accounted for 35.2% of the global market revenue
· Asia Pacific is estimated to witness robust growth over the forecast period on account of increasing demand from the healthcare sector in China, India, and Japan
· Medical device manufacturers prefer plastic materials that not only meet the quality and safety requirements but also comply with regulatory requirements. To meet the changing customer demand, manufacturers, such as Zeus Industrial Products, Inc., have developed biocompatible plastics, which also comply with the regulatory requirements
· Some of the key companies in this market are ZARYS International Group; TE Connectivity Ltd.; Freudenberg & Co. KG; Spectrum Plastics Group; and Bentec Medical, Inc.
Grand View Research has segmented the global medical tubing market on the basis of polymer type, application, and region:
Medical Tubing Polymer Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
· Silicone
· Polyolefins
· Polyvinyl Chloride (PVC)
· Polycarbonates
· Fluoropolymers
· Others
Medical TubingApplication Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
· Bulk Disposable Tubing
· Drug Delivery Systems
· Catheters
· Biopharmaceutical Laboratory Equipment
· Others
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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