The global medical tubing market size is expected to be worth around US$ 25.36 billion by 2030, according to a new report by Vision Research Reports.
The global medical tubing market size was valued at US$ 13.9 billion in 2020 and is anticipated to grow at a CAGR of 8.0% during forecast period 2021 to 2030.
|Market Size||US$ 25.36 billion by 2030|
|Growth Rate||CAGR of 8.0% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Product, application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Asahi Tec Corp.; MDC Industries; Nordson Corp.; ZARYS International Group; Hitachi Cable America, Inc.; NewAge Industries, Inc.; TE Connectivity; Freudenberg & Co. KG; Spectrum Plastics Group; ATAG SpA; Saint-Gobain; Bentec Medical; Trelleborg AB; MicroLumen, Inc.; Optinova; Vanguard Products Corp.|
Rising access to healthcare supplies worldwide, easy availability of cost-competitive medical-grade plastics, and increasing demand for medical devices that integrate tubing are the major factors driving the market. Increasing consciousness about Hospital-Acquired Infections (HAIs) along with increasing concerns about the spread of these infections are anticipated to boost the demand for disposable medical devices. Rising strategic alliances within the medical equipment industry across the globe are expected to drive the market.
OEMs demand medical tubing solutions that are easier to replace and reduce the risks of drug contamination and infection. A wide variety of specialized tubes, such as braided, balloons, and multi-layer, are introduced by key manufacturers to meet the varied requirements of end-users. Key manufacturers are setting up new manufacturing plants to increase the production capacity.
By Product Analysis
The Polyvinyl Chloride (PVC) segment led the market and accounted for more than 29.5% of the global revenue share in 2020. The increasing adoption of single-use pre-sterilized medical devices has led to the increased demand for PVC-based medical devices. PVC can also be sterilized using irradiation and ethylene oxide sterilization methods.
Polyolefins are highly used in diameter medical tube devices as they require materials with a unique combination of strength and flexibility.
Silicone is estimated to register the second-fastest CAGR of 7.7% from 2020 to 2030. Silicone medical tubing is used in medical implants, feeding tubes, and catheters where biocompatibility is important
The demand for polycarbonates is witnessing significant growth as they can be sterilized using all major methods, such as irradiation (both gamma and electron-beam), ethylene oxide, and steam autoclaving, which gives the device manufacturer broad flexibility in determining the most cost-efficient method for a product.
By Application Analysis
The bulk disposable tubing segment led the market in 2020 and accounted for more than 35% share of the global revenue. Bulk disposable devices include surgical instruments, urological products, syringes, and needles.
Catheters are narrow tubes composed of medical-grade materials that serve a variety of roles in medical applications. They are introduced into the body of patients to treat diseases or to perform surgeries.
The drug delivery systems segment is expected to register the fastest CAGR of more than 9% from 2020 to 2030. Various types of drug delivery systems, such as injectable, respiratory, and connected drug delivery systems, use medical tubes to deliver the drugs to the target location.
The demand for diagnostic equipment is experiencing fast-paced growth to detect and mitigate diseases in the initial stages. Pneumatic tubes and blood collection tubes&equipment are expected to witness significant demand over the forecast period.
By Regional Analysis
North America led the market in 2020 and accounted for more than 37% of the global revenue. North America is anticipated to maintain its leading position throughout the forecast period as the U.S has kept its R&D tax credit low.
The well-established medical infrastructure and increasing healthcare expenditures are expected to drive the product demand in Europe. Steady demand for minimally invasive and diagnostic equipment, which use medical tubes, is also anticipated to boost the market growth over the forecast period.
Asahi Tec Corp.
ZARYS International Group
Hitachi Cable America Inc.
NewAge Industries, Inc.
Freudenberg & Co. KG
Spectrum Plastics Group
Vanguard Products Corp.
Bulk Disposable Tubing
Drug Delivery Systems
Biopharmaceutical Laboratory Equipment
Central & South America
Middle East & Africa
The Medical Tubing market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Medical Tubing market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Medical Tubing market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Medical Tubing market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Medical Tubing market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Medical Tubing capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Medical Tubing by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Medical Tubing market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Medical Tubing market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Medical Tubing market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Medical Tubing industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Medical Tubing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Medical Tubing market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Medical Tubing market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Medical Tubing market. These factors have benefited the growth of the global market for Medical Tubing. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Medical Tubing. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Medical Tubing are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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