The global Medical Tubing Market was appreciated at US$ 5.96 billion during 2017 and is expected to touch US$ 11.95 billion by 2025. It is estimated to witness a CAGR of 9.1% during the period of forecast.
Increasing uses of medical tubing in several therapeutic devices, for example, diagnostic equipment, catheters, and disposable medical equipment are projected to motivate the demand in the market during the approaching years. Plastic is the maximum favored material in the manufacturing of medical devices because of its greater impact & tensile strength and resistance to chemicals.
Medical tubing is utilized for the management of fluid and drainage. In more or fewer circumstances, it is furthermore used as anesthesiology and respiratory apparatus. Production of medical tubing needs certain documentation because the usage is related straight to the humanoid body.
Drivers and Restraints:
A growing number of elderly people who encounter numerous fitness problems owing to abridged resistance power require several treatments that consist of the usage of medical tubing. This use of medical tubing is the most important motivator for the global market. Increasing alertness among the people about the progression in therapeutic services and governance arrangements that deliver funded health care amenities is likewise a reason accountable for the development of the medical tubing industry.
Increasing demand for medicinal devices that contain medical tubing is promoting demand for it. Individuals spending on their fitness fears to evade upcoming threats and a good number of invasive surgical procedures are also some demand-centered issues nurturing the development of the global tubing market. On the other hand, the legal intricacies applied by the government to manufacture medical tubing are obstructing the development of the global market on a certain range.
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Classification:
The global medical tubing market can be classified by Polymer, Application, Structure, and Region. The polymer can be classified as Silicone, Polyolefin, Polycarbonates, Fluoropolymers, Polyvinyl Chloride, and others. By Application, it can be classified as Drug Delivery Systems, Catheters & Cannulas, Biopharmaceutical Laboratory Equipment, Bulk Disposable Tubing, and others. By type of Structure it can be classified as Heat Shrink Tubing, Braided Tubing, Co-extruded, Single-lumen, Balloon Tubing, Tapered or Bump Tubing, and Multi-lumen.
Regional Lookout:
By region, the global medical tubing market can be classified as North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. The Asia Pacific and North America are the maximum attractive provinces for manufacturing companies. North America is a developed market whereas the emerging economies in the Asia Pacific are likely to flourish by way of wonderful development openings steered by India and China. Greater demand for the product in North America was motivated by the U.S.A. After 2017, North America stayed the biggest provincial market and is estimated to carry on its supremacy during the period of forecast.
The demand for the product in the Asia Pacific is largely motivated by China and Japan. This was responsible for above 60% share of the Asia Pacific demand during the previous years. China is one of the speedily developing markets for medical devices in the world. Therefore it is an eye-catching destination for the manufacturers of tubing. Growth in healthcare spending and the growing emphasis by the government on the development of healthcare are projected to increase demand for the product in the market.
Companies:
The existence of leading companies demonstrates greater competition in the market. The majority of these companies are increasing their product range and technical proficiency as a measure of their development policies. This helps them increase their competitive advantage above their business competitors.
Some of the important companies for the medical tubing market are Hitachi, Ltd., Freudenberg & Co.KG, Spectrum Plastics Group, and TE Connectivity Ltd. Additional notable companies are W. L. Gore & Associates, RAUMEDIC AG, Nordson Corporation, Optinova, Saint-Gobain Performance Plastics, Tekni-Plex, Putnam Plastics, Lubrizol Corporation, Teleflex, Zeus Industrial Products, Vention Medical Inc., Tecknor Apex Co, Blue star Silicones International, and DOW Corning Corporation.
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