Reports And Data
Medical Tubing Market Size – USD 5.20 billion in 2021, Growth – CAGR of 9.5%, Trends – Increasing geriatric population
NEW YORK, NY, UNITED STATE, June 1, 2022 /EINPresswire.com/ — The global Medical Tubing Market is expected to reach USD 11.71 Billion by 2030, according to a new report by Reports and Data. Medical tubing is a kind of tubing that comply with medical industry requirements and standards for various medical or pharmaceutical related applications. Medical tubing is deployed for fluid management and drainage along with anesthesiology and respiratory equipment, IVs, catheters, and biopharmaceutical laboratory equipment, among others.
Increasing geriatric population is expected to drive the market demand in the forecast period. Elderly people face several health issues owing to reduced immunity strength and require various treatments that include the implementation of medical tubing. Increasing awareness pertaining to advancement in healthcare facilities and government initiatives to make subsidized medical facilities available to people is another driver causative of the market growth. Growing demand for medical devices that has medical tubing as a part of the equipment is pushing demand for the tubing. Increased healthcare spending to avoid future hazards and a large number of invasive surgeries are increasing the demand for medical tubing. Continuous customization of polymers and restructuring of the tubing has given various opportunities for the players in the market.
Additionally, the expanding medical industry in both developed and developing regions are positively impacting the market demand. The demand for medical tubing is mounting in surgical implants owing to lubricity and biocompatibility. Growing instances of non-invasive surgical procedures for treatment is propelling the market growth in emerging economies such as India and China. Moreover, increasing demand from technically advanced medical devices to meet various neurological and surgical applications is elevating the medical tubing demand.
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Key participants include Asahitec Corporation, MDC Industries, Compagnie de Saint-Gobain S.A., Freudenberg Medical, LLC., The Lubrizol Corporation, Avient Corporation., Raumedic AG, DuPont de Nemours, Inc., Teknor Apex Optinova Holding AB, and Nordson Medical (Nordson Corporation)
Further key findings from the report suggest
Plastics contributed to the largest market share in 2018 and is expected to grow at a rate of 8.8% in the forecast period as plastic tubing delivers a wide range of chemical and corrosion resistance, exceptional abrasion and wear resistance, greater flexibility, visual contact with the flow, and outstanding flow characteristics.
By application, catheters held a substantial market share in 2018 and are forecasted to grow at a rate of 8.9% in the forecast period. Medical catheters and tubing are like carriers, navigating intricate regions of the body to deliver or remove fluids and to treat or diagnose abnormalities. Their role is fundamental to several diagnostic procedures and treatments, such as medicine delivery and toxin removal, among other specific functions.
The market in the North America region dominated the market in 2018 and is projected to grow at a rate of 8.1% in the forecast period owing to initiatives taken by the governments in the region to offer superior medical facilities.
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For the purpose of this report, Reports and Data have segmented the global medical tubing market on the basis of material, application, end-user, and region:
Material Outlook (Revenue, USD Billion; 2019–2030)
Polyvinyl Chloride (PVC)
Polyether Ether Ketone (PEEK)
Thermoplastics Elastomer (TPE)
Thermoplastic Polyurethane (TPU)
Ethylene Propylene Diene Monomer (EPDM)
Application Outlook (Revenue, USD Billion; 2019–2030)
Bulk Disposable Tubing
Catheters & Cannulas
Drug Delivery Systems
Regional Outlook (Revenue, USD Billion; 2019–2030)
Middle East & Africa
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Article originally published on www.einpresswire.com as Medical Tubing Market To Reach USD 11.71 Billion By 2030 Says Reports and Data
This news story originally appeared at USA - Euro-News on 4 June 2022