The chemical Medical Tubing Market has witnessed vast growth in the Chinese chemicals sector, which is in turn affecting the value-chain of the European chemicals market. Europe’s chemical market decline could also be blamed on slow innovation rates. The mobility trends that have been observed in the industry are indicative of a drop in the development of transportation fuels, which is pushing the manufacturers to rethink their petrochemical straxtegy, owing to the chemical and petrochemical integration.
The global medical tubing market is expected to reach USD 12.50 Billion by 2026, 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.
Key players operating in the market:
Zeus Industrial products, Teleflex, Saint-Gobain Performance Plastics, Optinova, Lubrizol, Spectrum Plastics Group, Nordson Corporation, Raumedic, Putnam Plastics, and Tekni-Plex, among others.
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Global Medical Tubing Market: Regional Segmentation
North America
US
Canada
Mexico
Europe
Russia
UK
Germany
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Rest of Asia Pacific
Latin America
Brazil
Rest of Latin America
Middle East & Africa
Saudi Arabia
UAE
Israel
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Market Segmentation:
The global Medical Tubing market is segmented in terms of product type, application, end-use, and region.
Material Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Plastics
Metals
Silicone
Application Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Bulk Disposable Tubing
Biopharmaceutical Laboratory Equipment
Catheters
Others
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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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