SAN FRANCISCO, July 14, 2022 /PRNewswire/ -- The global medical tubing market is expected to reach USD 19.53 billion by 2028 constituting a CAGR of 7.0% from 2022 to 2028, as per the report by Grand View Research, Inc. The demand for medical tubing is expected to get boosted due to the increase in the cases of respiratory diseases like lung cancer, pulmonary fibrosis, and asthma as well as being an essential part of respiratory devices like ventilators designed for breathing purposes. Additionally, the COVID-19 situation resulted a rise in hospitalization cases triggering the demand for medical tubing to provide enhanced patient care. For instance, the utilization of disposable medical equipment has been important for providing patient care. This has ultimately resulted in the high demand for medical tubing as the most essential component of medical devices, thus boosting the market growth during the forecast period.
Key Industry Insights & Findings from the report:
- The market value of medical tubing was USD 11.85 billion as of the year 2021 which was expected to expand at a CAGR of 7.0% during the forecast period.
- The polyvinyl chloride (PVC) sector acquired 29.5% of the revenue of the medical tubing market in the year 2020 which has resulted in the increased demand for PVC medical devices due to transparency, resistance to chemicals, and biocompatibility.
- The use of silicone medical tubing in catheters, medical implants, and tubes for feeding has resulted in a market expansion of 7.7% CAGR during the forecast period.
- The application of the bulk tubing category acquired 35% of the global revenue share and provided successful opportunities for the market to grow.
- In terms of regional insights, North America successfully acquainted 37% of the global revenue in 2020 and maintained its position by keeping the R&D tax credit low. This resulted in the provision of treatments and medical devices for constituting a healthy lifestyle.
Read 100-page market research report for more Insights, "Medical Tubing Market Size, Share & Trends Analysis Report By Product (Fluoropolymers, PVC), By Application (Bulk Disposable Tubing, Drug Delivery Systems), By Region (APAC, North America), And Segment Forecasts, 2020 - 2028, published by Grand View Research.
Medical Tubing Market Growth & Trends
The demand for using medical tubing, especially for respiratory devices is paving the way for significant growth in the U.S. market due to the increasing COVID-19 diseases affecting the lungs and consequently resulting in respiratory issues. The spread of the COVID-19 virus in the year 2020 resulted in the requirement of hospitalization as a large population was severely affected. Hence, the major drive for the product is solely based on the awareness of diseases that require hospitalization and the spread of harmful infections. There have been collaborations between medical companies to make expansion in terms of making disposable medical devices available globally, thus uplifting the market growth during the forecast period.
The tubing of medical devices is said to differ from the remaining tubes because of its utilization in various medical applications. Medical tubes are smaller and thinner when used in medical processes like endoscopy, drug delivery, and angioplasty. Therefore, medical tubing is a kind of tool that is used by medical professionals for patient care and manufacturing drug while taking into consideration safety and reliability. These act as standards or certifications that constitute important requirements while using the tube material. Additionally, plastic is an essential material for producing medical tubes for the purpose of acquiring stent holders, vascular catheters, and samples of biopsy. Owing to the inertness, resistance, increased properties, and provision of volume applications at an affordable cost, medical tubing designed out of plastic is highly implemented in medical devices.
Medical Tubing Market Segmentation
Grand View Research has segmented the global medical tubing market based on product, application, and region:
Medical Tubing Market - Product Type Outlook (Revenue, USD Million, 2017-2028)
- Silicone
- Polyolefins
- Polyvinyl Chloride
- Polycarbonates
- Fluoropolymers
- Others
Medical Tubing Market - Application Type Outlook (Revenue, USD Million, 2017-2028)
- Bulk Disposable Tubing
- Drug Delivery Systems
- Catheters
- Biopharmaceutical Laboratory Equipment
- Others
Medical Tubing Market - Region Type Outlook (Revenue, USD Million, 2017-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Russia
- Spain
- Italy
- Netherlands
- Asia Pacific
- China
- India
- Japan
- Australia
- Singapore
- South Korea
- Central & South America
- Brazil
- Middle East & Africa
- South Africa
List of Key Players of the Medical Tubing Market
- Asahi Tech 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.
Check out more studies published by Grand View Research:
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- Medical Flexible Packaging Market - The global medical flexible packaging market size is expected to reach USD 26.3 billion by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.5% from 2021 to 2028. Increasing demand for pharmaceutical products in emerging economies as well as growing demand for drug delivery systems in developed countries are driving the growth of the market. The use of flexible packaging is increasing in the healthcare industry as the companies operating in the industry are opting for sustainable functions and materials, such as paper. Paper-based packaging is included in green packaging as it is highly recyclable and economical.
- Medical Grade Silicone Rubber Market - The global medical grade silicone rubber market size is expected to reach USD 914.0 million by 2027, expanding at a CAGR of 6.3% over the forecast period, according to a new report by Grand View Research, Inc. The growing medical industry coupled with increasing healthcare expenditure across the world is projected to fuel the global market during the forecast period. The market is projected to register substantial growth due to the rising adoption of silicone rubber for prosthetics and implants, disposables, catheter, surgical instruments, and drug delivery systems.
Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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