Medical Tubing Market worth $ 4.8 Billion in 2021 - Exclusive Report by xResearch offering Market Sizes, Forecast, & Competitive Landscape

According to a new report published by xResearch, titled, “Medical Tubing Market Insights, Trends, Opportunity & Forecast, 2021–2030,” the global medical tubing market size is anticipated to witness moderate growth during the forecast period i.e. 2021-2030. The rapidly escalating demand for medical tubing from various applications; the growing concerns in regards to healthcare; the surging cases of respiratory diseases; the soaring demand for medical devices comprising medical tubing; the increasing awareness about hospital-acquired diseases; and the rising investments & number of government initiatives to provide advanced healthcare facilities are among the key factors contributing to the growth of the global medical tubing market.

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According to application, the bulk disposable tubing segment acquired the largest share of the global medical tubing market in 2020. The segment is expected to maintain its lead further in the market during the forecast period. On the other hand, the drug delivery system segment is projected to register the highest CAGR in the market during the forecast period. According to material, the polyvinyl chloride (PVC) sub-segment led the global medical tubing market in 2020. The sub-segment is anticipated to continue with its dominance in the market during the forecast period of 2021-2030.

Geographically, the North American region dominated the global medical tubing market in 2020, followed by Europe. The region is likely to remain dominant throughout the forecast period of 2021-2030. Countries such as U.S. and Canada are among the key contributors to the growth of the market in the region. The Asia Pacific region is slated to experience the highest growth in the global medical tubing market during the forecast period. India and China stand as the leading contributors to the growth of the market in the region.
Some of the major medical tubing companies profiled in the report include Dow Corning Corporation, Nordson Corporation, Teknor Apex, Optinova , Asahi Tec Corp., MDC Industries, Nordson Corp., ZARYS International Group, Hitachi Cable America Inc., and NewAge Industries Inc.

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The global medical tubing market is segmented into material, structure, application, and region. Based on material, it is classified into plastics, rubbers, and specialty polymers. The plastics segment is further classified into polyvinyl chloride (PVC), polyolefin, polyamide, polyterafluoroethylene (PTFE), (PEEK), perflourolkoxy (PFA), and polycarbonate (PC). The rubbers segment is further classified into thermoplastic elastomer (TPE), thermoplastic polyeurethane (TPU), silicone, polyeurethane (PU), ethylene propylene diene monomer (EPDM), and latex. The specialty polymers segment is further classified into bioabsorbable polymer and ethylene vinyl acetate (EVA). Based on structure, it is classified into single-lumen, co-extruded, multi-lumen, tapered or bump tubing, and braided tubing. Based on application, it is classified into bulk disposable tubing, catheters & cannulas, drug delivery system, and special applications.

The global medical tubing market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).

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Key Insights of Medical Tubing Market

• On the basis of application, the bulk disposable tubing segment acquired the largest share of the global medical tubing market in 2020, and is expected to maintain its lead further in the market during the forecast period. On the other hand, the drug delivery system segment is projected to register the highest CAGR in the market during the forecast period.
• On the basis of material, the polyvinyl chloride (PVC) sub-segment led the global medical tubing market in 2020. The sub-segment is anticipated to continue with its dominance in the market during the forecast period of 2021-2030.
• On the basis of region, North America dominated the global medical tubing market in 2020, followed by Europe. The region is likely to remain dominant throughout the forecast period of 2021-2030.
• On the basis of region, the Asia Pacific region slated to experience the highest growth in the global medical tubing market during the forecast period.

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This release was published on openPR.