Medical Tubes Market- Emerging Trends, Opportunity & Forecast

Medical Tubing Market Size & Future Growth Projections

Tubes are a very important product in the medical industry as these are used in numerous applications such as supplying fluids, drugs, and nutrition to the patients, draining fluid from the patient’s body, and others. Hence, the healthcare industry has a big market for tubes manufactured from various materials based on specific use cases. In the year 2022, the market size of medical tubes was $11.8 billion and growing at a compounded annual rate of over 6%, the market should exceed $16 billion by 2028.

Medical Grade Tubing Industry Outlook Remains Highly Optimistic on Account of Growing Sale of Catheters and Drug Delivery Devices

Since the year 2015, the demand for tubes in the medical industry has grown at an average rate of over 7% each year.

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Major factors contributing growth of Medical Tubing Sales:

• Demand for cardiovascular catheters, also called coronary catheters, has been rising consistently. These catheters are used for the diagnosis and treatment of various heart problems. In the year 2021, the global sales revenue of cardiovascular catheters was in excel of $10 billion. Cardiovascular catheter tubes are made from materials like silicone, polyolefins, PVC or polycarbonates. Out of these, silicone is the most common.

• IV catheters are the products that are used for supplying nutrition, medical fluids, for taking blood sampling and similar other purposes. These types of catheters are very common in hospitalized patients and the demand is expected to grow at around 4.5% every year in the coming six years. IV catheter tubes are generally made from PVC material.
• Urinary catheters are in high demand and this is because urinary problems have been rising significantly all across the globe. Cases of urinary incontinence, prostate surgeries and similar others have led to the demand for products like intermittent catheters, foley catheters and external catheters in the urology industry.

A slowdown in Medical Tube sales was observed in the demand due to the Covid 19 pandemic:

The demand for medical tubes slowed down during the year 2020 mainly due to the Covid 19 pandemic. This was because a significant number of patients postponed their treatments and surgeries due to the lockdowns. However, the demand recovered in 2021 and the future prospects remain very promising.

Premium quality tubes are gaining market share:

Medical Grade PVC tubes are very common in bulk disposable tubing and catheter applications. However, these materials are relative of inferior quality, have lesser elasticity in comparison to silicone material, and cause more harm to the environment when disposed of. Silicone tubes remain the most attractive and fastest-growing product segment in the medical grade tubing industry. Polyolefins like TPE are also being used in place of silicon as these have similar properties but are relatively cheaper. Polyimide is a preferred choice in special cases that require higher thermal control.

North America region held the largest market share in 2022:

The North American region is the largest market for medical tubes followed by Europe. This is mainly due to the higher demand for medical devices like IV catheters and tubes. These two regions are relatively more developed in terms of healthcare infrastructure and per capita healthcare spending. Moreover, the aging population and unhealthy lifestyles have led to rising in different health problems. In the year 2022, the United States accounted for around 25% of the global medical tube sales revenue share.

The research and analytics firm Datavagyanik released the updated version of its report on “Medical Grade Tubing Market – Country-wise Detailed Analysis, Business Opportunities, and Forecasts”. The updated version of the report is released with the latest data, industry trends, and competitive benchmarking. The report makes use of analytical models to study country-level market patterns and forecasts for the next seven years.

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Insights Covered in the Report:

• Market size assessment and demand analysis: Demand analysis part of the study on Medical Grade Tubing market provides details on the actual market size as well as the total addressable market size (TAM) on the global and country level.

• Seven-year market forecast: Actual market data on Medical Grade Tubing has been provided for the year 2022 and forecast has been covered from 2023 to 2028. Seven-year market forecast has been covered in the study.

• Customer pain points: Pain points and scope of innovation is one of the key components of this study. There are specific areas that the industry participants need to understand in order to excel. Since the competition is increasing, having a competitive advantage is very important. 

• Demand vs supply comparison: Understanding the supply vs demand dynamics is important for working on business strategies and future action plans. This is important for product development and pricing decisions as well. Detailed inputs provided from the demand as well as supply side is a key value addition to this study.

• Future market prospects: The market is evolving continuously and the study highlights the future expectations and related strategic views. In order to plan investment strategies and capitalize upon new business segments, remaining updated with these insights is important.

• Key market trends: The report analyzes key market trends that will impact the Medical Grade Tubing market in the future. Long- and short-term impact of these factors have been presented to help decision makers understand the industry on a granular level.

• Industry Challenges: There are industry challenges that need to be addressed in order to perform well in the Medical Grade Tubing business. Companies in the Medical Grade Tubing market need to tackle these challenges emerging due to change in market dynamics, industry requirements and other external environmental factors.

• Market player and market share analysis: Market player and market share assessment is a special focus area of the study. Companies have been analyzed in terms of their product portfolio, target customers, revenue and strategic business decisions.

• Investment opportunities: Emerging business segments and revenue streams have been identified in order to help industry participants strategize their revenue mix and plan on their investment strategies.

• Understanding the USP: Unique value propositions that can be offered: In order to sustain the competition, companies must have certain unique value propositions in order to attract clients and gain competitive advantage. Such unique value propositions have also been highlighted in the report.

Global and country level detailed analysis:

Global and country-level analysis has been covered in the report. The regions covered in the study are North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

• North America region covers analysis on United States and Canada.
• Europe region covers analysis on Germany, France, Italy, Spain, UK and Rest of Europe.
• Asia Pacific covers analysis on China, India, Japan, South Korea, Indonesia, Australia and Rest of Asia-Pacific.
• Rest of the World (Latin America, Middle East, Africa).

The report on the medical grade tubing market covers a depth analysis of ongoing technological advancements, developments and also presents market revenue forecast for the period (2023 – 2030). In addition, country-level analysis is provided in the report. With the purpose of helping strategic decision-makers to get in-depth insights the report also offers competitive profiling of leading market players, key developments, and company details.

It includes a competitive landscape to gauge market competition based on various factors such as drivers, restraints, and opportunities within the enterprise data management market worldwide. Decision-makers can rely on investing in the market based on the impact analysis, which will be covered in the report based on market determinants and trends.

Key Questions Answered by This Study

• What was the market size for historic years for the last ten years?
• How will the market grow over the forecast years i.e. from 2023 – 2030?
• What is the year-on-year growth rate?
• Who are the key target audiences for the market?
• Analysis derived through consumption perspective and expenditure perspective.
• Micro and macro factors?
• Internal and External Variables?
• Purchasing powers from the perspective of end users.
• What are the marketing techniques that a company should adopt in order to advertise their brand or product or services?
• How will the market drivers, restraints and future opportunities have an impact on the market dynamics and an analysis supporting the ongoing market trends?
• Which segment and region are driving the market growth and how?
• Which are the major countries actively contributing towards the market development?
• What would be market size of each segment in major countries which in turn is responsible for revenue generation of the respective regions?
• Who are the visionaries, leaders, challengers and niche market participants of the market?
• Strategic initiatives taken by market participants and their influence in the market growth.
• What are goals that need to be mapped by the market participants for introducing a product or expand its regional presence?

Medical Tubing Market revenue and forecast, by Material Type:

• Silicone
• Polyolefins
• Polyvinyl Chloride
• Polycarbonates
• Fluoropolymers
• Others

Medical Tubing Market revenue and forecast, by Application:

• Bulk Disposable Tubing
• Drug Delivery Systems
• Catheters
• Others

Medical Tubing Market Player Analysis:

• Dow Corning Corporation
• Nordson CorporationSaint-Gobain
• Freudenberg Medical LLC.
• W.L. Gore and Associates Inc.
• Avient Corporation
• Raumedic AG
• Lubrizol Corporation
• Elkem ASA
• Teknor Apex
• Optinova
• Other Market Players

Market revenue and forecast for the period (2023 – 2027), by Region:

North America

• United States
• Canada

Europe

• Germany
• France
• Italy
• Spain
• UK
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Australia
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Argentina

Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Rest of Middle East & Africa

About Datavagyanik

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