USD 12.25 billion
Report ID:
SQMIG35A2227 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|Tables:
68
|Figures:
77
Medical Tubing Market size was valued at USD 13.01 Billion in 2023 and is poised to grow from USD 13.82 Billion in 2024 to USD 22.36 Billion by 2032, growing at a CAGR of 6.2% during the forecast period (2025-2032).
The medical tubing market growth is expected to boost over the forecast period by factors such as easy consumer access to healthcare items and the growing need for medical devices with efficient tubing globally. The demand for medical tubes in drug delivery systems is expected to be motivated by the requirement for customizable medical tubes, which has been brought about by the continuous developments in drug delivery systems that has been done by medical device makers. Furthermore, the exponential growth of partnerships and joint ventures between different types of medical device companies that are expected to expand the disposable medical devices' scope globally will drive market growth. The rise in the elderly populations worldwide has increased medical devices with tubes, propelling market expansion. Moreover, the increasing cases of conditions such as cancer, arthritis, cardiovascular diseases, and others requiring anatomic and reconstructive surgical operations increase the demand for less invasive treatment practices. In addition, the increased use of materials such as silicone, nylon, and plastic polymers that are considered ideal for catheter and medical tubing applications has increased the demand for medical tubing worldwide. Furthermore, life expectancy shall rise in developing nations also because of well-equipped health care facilities. Due to this demographic change, there will be a growing demand for portable and light-medical tubing along with medical equipment for them. The usage of devices such as patient monitoring equipment and everlasting tube feeding equipment is predicted to increase sharply throughout the projection period, offering growth potential for the medical tubing industry.
US Medical Tubing Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 12.25 billion
Largest Segment
Polyvinyl Chloride
Fastest Growth
Polyvinyl Chloride
Growth Rate
6.2% CAGR
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Global Medical Tubing Market is segmented on the basis of product, application and region. By product, the market is segmented into silicone, polyolefins, polyvinyl chloride, polycarbonates, fluoropolymers, and others. By application, the market is segmented into bulk disposable tubing, drug delivery systems, catheters, biopharmaceutical laboratory equipment, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Medical Tubing Market Analysis by Application
As per the medical tubing market forecast, the market leader, with a 34.5% revenue share in 2023, was the bulk disposable tubing category. Needles, syringes, surgical tools, and urology supplies are instances of bulk disposable devices. Over the course of the forecast period, increasing focus on stopping the spread of illness from one patient to another is expected to propel sector growth. Silicone and polyvinyl chloride (PVC) are key components utilized in the development of bulk disposable tubing. As silicone bulk disposable medical tubing is strong and flexible and resistant to extreme temperature changes, it is frequently utilized in medical implants and in draining and feeding applications.
However, based on the medical tubing market analysis, catheters are expected to lead the market. Narrow tubes made of high-quality materials, catheters, are used in several medical applications. They are inserted into patients' bodies to conduct operations or treat illnesses. The rising number of chronic illnesses requiring hospitalization in the world's population has stimulated demand for catheters. Silicone and polyvinyl chloride (PVC) are two common materials utilized in catheter development. People who are allergic to or sensitive to latex can use silicone catheters because they don't contain latex. Furthermore, due to its extensive use and extensive testing, silicone is one of the materials that is chosen over latex. The flexibility and smoothness of silicone catheters are some of its benefits. In addition, their encrustation is lower.
Medical Tubing Market Analysis By End User
The hospitals segment held the largest medical tubing market share in 2023. Since numerous applications to be used in hospitals rely on medical tubing including IV administration, respiratory care, drainage, and feeding, it is widely demanded. Medical tubing is of prime importance in patient care, mainly in emergency rooms, operating rooms, and ICUs. Hospitals are a huge market for the consumption group where the demand can be met because of the wide application of medical tubing in therapeutic, monitoring, and diagnostic operations. Such hospitals form the biggest consumption group. They need high-quality, flexible, and sterilizable tubing as support for a whole range of lifesaving medical equipment, such as catheters, infusion pumps, and ventilators.
However, the ambulatory surgical centers (ASCs) segment is the fastest-growing end users in the medical tubing industry. ASCs are becoming a rapidly growing market for medical device manufacturers, especially with respect to medical tubing, as this form of outpatient treatment continues to rise. Popularity in minimally invasive surgical procedures and the continuously growing need for budget-friendly, non-hospital-based treatment drive the requirement for specialty surgical tubing applied in various conditions, such as laparoscopic and endoscopic surgery. A significant helping factor is the development of elastic, long-lasting, and user-friendly medical tubing materials. The demand for medical tubing in ASCs is expected to increase due to a growing tendency toward outpatient surgery and a higher patient population.
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North America dominated the revenue segment of the medical tubing market in 2023 with a share of 35.5%. The region enjoys immense healthcare investment, continuous technological advancements, and developed healthcare infrastructure. High government spending has remained a significant driver for market growth, mostly in the US. This commitment to healthcare funding is reflected in the fact that, in 2021, Medicare expenditure increased by 8.4% to USD 900 billion, while Medicaid spending rose by 9.2% to USD 734 billion. Indeed, a large part of this dominant position maintained by North America in the medical tubing market is sustained through such robust financial support and the presence of important industry companies such as Bentec Medical, Spectrum Plastics Group, and NewAge Industries.
Contrarily, expansion in Asia-Pacific is expected to grow most rapidly in the medical tubing market due to the confluence of increased demand for sophisticated medical devices and increased accessibility to health care. Manufacturers continue to strive for increasingly innovative solutions that are more affordable for a broader array of consumers. Demand for less-invasive operations is making the market expand because the procedure requires medical tubing. Furthermore, the region is experiencing a rising population of seniors who require more health care service, especially surgical operations and chronic diseases management. As a result of healthcare infrastructure improvements and increased expenditure, Asia-Pacific is predicted to witness a tremendous growth of the medical tubing market in the future.
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Medical Tubing Market Drivers
Increasing Demand in Home Healthcare
Advancements in Polymer Materials
Medical Tubing Market Restraints
Plastic Waste Impacting Environment
Contamination and Infection Risk
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The competitive environment of the medical tubing market is highly energized with strong competitors. Companies are very eager to fulfill the dynamic demands of healthcare applications by improving material performance, diversifying product lines, and developing new products. Strategic alliances, mergers, and acquisitions dominate the businesses' search for strengthening their market position and accessing new opportunities in home healthcare, minimally invasive treatments, and sustainability-focused solutions.
Top Player’s Company Profiles in Global Medical Tubing Market
Global Medical Tubing Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the medical tubing market outlook will experience steady growth attributed to rising healthcare costs, an aging global population, and technological development. Growth in minimally invasive procedures, shift to the home healthcare sector, and a growing need for high-end materials and environmentally friendly solutions are the important factors that will shape the future of the market. These factors may be offset by constant innovation and improvement of superior tube materials, production techniques and approval regulations. Great expansion is predicted in several regions as patients require more personalized, biocompatible, and sustainable solutions and health care providers also want the same. Large companies are anticipated to invest in product development and strategic partnerships to keep up with changing industry needs.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 12.25 billion |
Market size value in 2031 | USD 21.05 billion |
Growth Rate | 6.2% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Medical Tubing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Medical Tubing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medical Tubing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Medical Tubing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35A2227
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