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Medical Tubing Market Size, Growth Analysis, Share, Leading Key Players, Trends, And Forecast To 2033
Medical Tubing Market
The medical tubing market size is expected to see rapid growth in the next few years. It will grow to $21.03 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%. The growth in the forecast period can be attributed to precision medicine, telemedicine services, biodegradable materials, global health initiatives, geriatric population. Major trends in the forecast period include neurology and brain monitoring, drug delivery innovation, diagnostic advancements, biocompatibility, tissue engineering.
Market Overview -
Medical tubing refers to a small intricate, customized tube used to transfer fluids to and from the body as well as to administer devices. Medical tubes are manufactured in a sterile environment with no risk of contamination as they are commonly used in anesthesia and respiratory apparatus, IVs, catheters, peristaltic pumps, biopharmaceutical laboratory equipment, and others for fluid management and drainage.
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Escalation Of Respiratory Ailments To Fuel Medical Tubing Market
The rising cases of respiratory diseases are driving the growth of the medical tubing market. Respiratory diseases such as asthma, lung cancer, pulmonary fibrosis, and others are caused by tobacco smoking, air pollution, allergens, and occupational risks. Increasing respiratory diseases are expected to strengthen the demand for medical tubes as they are an essential component of ventilators that facilitate breathing. For instance, according to the study published in the Centers for Disease Prevention and Control, the percentage of COPD, emphysema, or chronic bronchitis, among adults aged above 18 years in the USA increased from 4.6% in 2020 to 5.0% in 2021. Thus, the rising cases of respiratory diseases will propel the growth of the medical tubing market.
Competitive Landscape -
Major companies operating in the medical tubing market include Saint-Gobain S.A., Freudenberg Medical LLC, W.L. Gore & Associates Inc., Avient Corporation, Raumedic AG, Micro-Tek Corp., NewAge Industries Inc., Axiom Medical Inc., NovoSci Corp., Vanguard Products Corp., Zeus Industrial Products Inc., Absolute Custom Extrusions Inc., Petro Extrusion Technologies Inc., Pexco LLC, GSH Industries Inc., Teleflex Medical OEM LLC, Putnam Plastics Corporation, Tekni-Plex Inc., Nordson Corporation, Qosina Corp., Vesta Inc., Lubrizol Life Science Health, Grayline LLC, Trelleborg Healthcare & Medical, Spectrum Plastics Group Inc., Merit Medical Systems Inc., Applied Plastics Co. Inc., Duke Empirical Inc., Biomerics LLC, Polyzen Inc., Resonetics LLC
Innovative Product Development Reshaping The Medical Tubing Market
Product innovation is a key trend gaining popularity in the medical tubing market. Key players are focusing on launching new innovative medical tubes with innovative features to improve the outcome of the usage. The companies are utilizing advanced manufacturing processes and the latest technologies to launch innovative medical tubes, which are unique and designed to be effective and efficient. The braided medical tube is one of the most distinctive innovations now in use. The peculiarity of the braided tube's design ensures and expands the capabilities of catheters and medical tubing. A braided tube is an excellent approach for improving the flexibility and strength of existing medical equipment. Braided tubing is utilized in various medical operations including cardiovascular and neurovascular surgery and endoscopic treatments involving the gastrointestinal digestive system. For instance, In January 2021, Zeus Industrial Products, Inc., a South Carolina-based provider of polymer solutions launched braid and coil-reinforced polyamide tubing, which assists design engineers in utilizing key properties such as torque ability, flexibility, and strength in the development of new catheter designs.
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Key Segments -
The medical tubing market covered in this report is segmented -
1) By Product: Silicone, Polyolefins, Polyvinyl Chloride, Polycarbonates, Fluoropolymers, Other Products
2) By Application: Bulk Disposable Tubing, Drug Delivery Systems, Catheters, Biopharmaceutical Laboratory Equipment, Other Applications
3) By End-User: Hospitals, Clinics, Ambulatory Surgical Centers, Medical Labs, Other End-Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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