Global Medical Grade Tubing Market to Reach $6,255. 9 Million by 2030. Market Report Coverage - Medical Grade Tubing Market Segmentation.
New York, Dec. 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Medical Grade Tubing Market - A Global and Regional Analysis: Focus on Product, Material, Application, End Market, and Country-Wise Analysis - Analysis and Forecast, 2021-2030" - https://www.reportlinker.com/p06192820/?utm_source=GNW
• Material – Fluoropolymers, Polyolefins, Polyvinyl Chloride (PVC), Silicone, Thermoplastic Elastomers (TPE), and Other Materials
• End Market – Medical, Bio-Pharmaceutical and Life Science, and Clinical Testing
• Product – Single Lumen Tubing and Multi-Lumen Tubing
• Application – Abrasion Protection, Drug Delivery, Bulk Disposable Tubing, Catheters, Special Applications (Peristaltic Pump Tubing, Gas Supply Tubing, Smoke Evacuation Tubing, Feeding Tubes), and Other Applications
• North America - U.S. and Canada
• Europe - Germany, U.K., France, Italy, Spain, and Rest-of-Europe
• Asia-Pacific - Japan, China, South Korea, India, Australia and New Zealand, and Rest-of-Asia-Pacific
• Latin America- Brazil, Mexico, Argentina, Colombia, and Rest-of-Latin-America
• Middle East and Africa- K.S.A., U.A.E, South Africa, and Rest-of-Middle East and Africa
Market Growth Drivers
• Increasing Geriatric Population Driving the Need for Surgeries Requiring Medical Grade Tubing
• Shift Toward Minimally Invasive Surgeries
• Growth in Healthcare Expenditure
• Stringent Regulations Governing the Production and Commercialization of Medical Grade Tubing
• High Cost of Medical Grade Tubing in Case of Certain Materials
• Growing Investments in Healthcare Infrastructure in Emerging Economies
• Market Expansion through Business Synergies
Key Companies Profiled
A.P. Extrusion Incorporated, AP Technologies Group Pte Ltd., ATAG SpA, ASAHITEC Corporation, B. Braun Melsungen AG, Compagnie de Saint-Gobain, Cook Group Incorporated, FBK Medical Tubing Inc., Freudenberg Medical, MDC Industries, Microlumen Inc., Nordson Corporation, Optinova Group, TE Connectivity Ltd., Trelleborg Group
How This Report Can Add Value
Assuming that the reader is a manufacturer of medical grade tubing, the report will assist them in the following ways:
• Understand their position compared to other key players in the market
• Stay updated with novel technology integration, features, and the latest developments in the market
• Understand the impact of COVID-19 on medical grade tubing and the entry barriers for new companies
• Gain insights into end-user perception concerning the medical grade tubing market
• Identify some key players in the market and understand their valuable contribution
Key Questions Answered in the Report
• How has COVID-19 impacted the adoption of medical grade tubing in the market?
• What are the key regulations governing the medical grade tubing market in key regions?
• What technological developments are projected to have the maximum influence on the global medical grade tubing market?
• Who are the leading players holding significant dominance in the global medical grade tubing market?
• What are some of the growth opportunities which market players can capitalize on?
• What are the drivers and restraints for the global medical grade tubing market?
• Which region has the highest growth rate in the global medical grade tubing market?
• Which are the fastest growing countries in terms of the medical grade tubing market?
• What are the key strategies being adopted by market players in the medical grade tubing market?
• Who are the emerging companies in the global medical grade tubing market?
Global Medical Grade Tubing Market Industry Overview
Medical grade tubing offers a wide range of applications in the bio-pharmaceutical and medical industry.The applications include administration of fluids, transfer of gases, and drug delivery, among others.
The mechanical, thermal, and chemical properties of tubes can be used for a wide range of minimally invasive applications such as catheterization, delivery systems, and drug delivery systems.
The global medical grade tubing market is an emerging market in the medical device ecosystem. The market has witnessed a rise in product sales due to the growing use of medical tubing in catheters and interventional cardiology. Furthermore, the market also offers advanced designs for customized products that would further improve the medical industry’s needs. The major factors that positively impact the market’s growth include high prevalence and growing incidences of congenital heart defects, rise in cardiac catheterization, and increase in interventional cardiology. There are a wide variety of materials associated with medical grade tubing, including fluoropolymers, polyolefins, PVC, and silicone, among others.
The global medical grade tubing market report highlights that the market was valued at $4,407.7 million in 2020 and is expected to reach $6,255.9 million by the end of 2030. The market is expected to grow at a CAGR of 3.70% during the forecast period 2021-2030.
Global Medical Grade Tubing Market Drivers
The factors driving the growth of the market include an increasing geriatric population driving the need for surgeries requiring medical grade tubing, a shift toward minimally invasive surgeries, and the growing expenditure in the healthcare industry.The increasing prevalence of diseases (such as cardiovascular diseases) requires complex surgical treatment.
This, in turn, has increased the demand for medical tubing required in minimally invasive surgeries. Governments invest a significant amount of money in healthcare insurance so that the overall healthcare costs can be reduced, and the quality of life and affordability of the treatment can be enhanced.
Global Medical Grade Tubing Market Restraints
The factors restraining the growth of the global medical grade tubing market include the stringent government regulations on medical tubing products and the high cost associated with medical tubing products.Delay in regulatory approval for the products due to the stringent government regulations concerning medical grade tubing hinders the market’s growth.
Another major restraint for the global medical grade tubing market is the high cost associated with the medical grade tubing market. For instance, choosing the ideal material for a particular medical application requires high investments and intense R&D expenditures.
Global Medical Grade Tubing Market Opportunities
High growth opportunities in emerging economies and the emergence of local companies in Asia-Pacific and the Middle East and Africa hold immense potential for the global medical grade tubing market growth.
There is massive scope for medical grade tubing in developing countries. Countries such as China, India, Brazil, and Mexico possess populations with high prevalence and incidence rates of cardiovascular diseases, which drives the inclusion of interventional medical grade tubing for various treatments, which would surge the overall medical grade tubing market in these emerging countries.
Impact of COVID-19 on the Global Medical Grade Tubing Market
During COVID-19, the growth of the medical grade tubing market was positively impacted.The market has witnessed an increase in the growth of nasogastric tubes, nebulizers, spacer devices, and others.
The market is projected to witness considerable growth during the forecast period 2021-2030. The increasing innovations and products designs in the global market and the growing use in emerging economies are the driving factors for the growth of the market.
Global Medical Grade Tubing Market (by Material)
The global medical grade tubing market, based on material, has been segmented into Fluoropolymers (Fluorinated ethylene propylene (FEP), Polyvinylidene fluoride (PVDF), Polytetrafluoroethylene (PTFE), Ethylene Tetrafluoroethylene (ETFE), Other Fluoropolymers), Polyolefins (Polypropylene (PP), Polyethylene (PE), (High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Linear-Density Polyethylene (LLDPE), Polyvinyl Chloride (PVC), Silicone, Thermoplastic Elastomers (Polyether block amide (PEBAX) and Other TPEs), and Other Materials (Polyamide (PA), Polyether Ether Ketone (PEEK), Polyester, etc.).
The silicone medical grade tubing has excellent sterilization and microwave properties. The increasing demand for silicone material owing to high dielectric strength and semi permeability for various medical applications is expected to drive the demand for silicone material during the forecast period.
Global Medical Grade Tubing Market (by Product)
The global medical grade tubing market, based on product type, has been segmented into single lumen tubing and multi-lumen tubing.Single lumen extrusions serve a wide range of medical applications, including IV therapy, catheters, and feeding tubes.
Multi-lumen tubing can be made from any thermoplastic material depending upon the application and medical device.
Global Medical Grade Tubing Market (by Application)
The global medical grade tubing market, based on application, has been segmented into abrasion protection, drug delivery, bulk disposable tubing (IV tubing and dialysis tubing), catheters, special applications (peristaltic pump tubing, gas supply tubing, smoke evacuation tubing, feeding tubes, and other applications (arthroscopy, endoscopy, laparoscopy, etc.)
The demand for tubing in catheter applications is expected to increase significantly.For instance, tubing can be used to drive catheters in cardiac catheterizations to test for heart disease and locate narrowing blood vessels.
Thus, the wide use of catheters application in the healthcare industry will drive various growth opportunities for medical tube manufacturers.
Global Medical Grade Tubing Market (by End Market)
The global medical grade tubing market, based on end markets, has been segmented into medical, bio-pharmaceutical and life science, and clinical testing.
The medical segment is at the forefront of the medical grade tubing market. The increasing focus on minimally invasive procedures has been one of the strongest drivers for the growth of the medical grade tubing market.
The growing use of medical tubing for biopharmaceutical and medical-related applications such as management and drainage of fluids is expected to boost the growth of the medical grade tubing market.
Global Medical Grade Tubing Market (by Region)
The different regions covered under the global interventional oncology devices market include North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
North America is expected to be the most lucrative region for the global medical grade tubing market due to advanced healthcare infrastructure and a high focus on research and development activities.The Asia-Pacific interventional oncology devices market is one of the lucrative markets with immense potential for expansion by key players of the global medical grade tubing market.
The Asia-Pacific medical grade tubing market is expected to grow at the fastest rate during the forecast period. This can be attributed to the massive geriatric population base, driving the demand for minimally invasive and non-invasive surgical procedures.
Key Market Players and Competition Synopsis
Some key players operating in the global medical grade tubing market include AP Technologies Group Pte Ltd., A.P. Extrusion Incorporated., ASAHITEC Corporation, ATAG spa, B. Braun Melsungen AG, Compagnie de Saint-Gobain S.A., Cook Group Incorporated, FBK Medical Tubing Inc., Freudenberg Medical, MDC Industries, MicroLumen Inc., Nordson Corporation, Optinova Group, TE Connectivity, and Trelleborg Group.
Some strategies covered in this segment are funding activities, mergers and acquisitions (M&As), partnerships, alliances, business expansion, regulatory and legal activities, and new offerings.
• North America
• South Korea
• Australia and New Zealand
• Latin America
• Rest-of-Latin America
• Middle East and Africa
• South Africa
• Rest-of-Middle East and Africa
Read the full report: https://www.reportlinker.com/p06192820/?utm_source=GNW
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