What is the global market size of Medical Tubing Market?

Medical Tubing Market size was valued at USD 11.53 billion in 2021 and is poised to grow from USD 12.25 billion in 2022 to USD 18.66 billion by 2030, at a CAGR of 6.2% during the forecast period (2023-2030).

What is the key driver of Global Medical Tubing Market?

Chronic diseases such as diabetes, cardiovascular diseases, and cancer are becoming more prevalent worldwide. The management and treatment of these diseases often require the use of medical tubing products, such as catheters, IV tubing, and respiratory tubing.

What is the key market trend for Global Medical Tubing Market?

The demand for minimally invasive surgical procedures is on the rise due to their numerous benefits such as faster recovery time, reduced scarring, and lower risk of infection. Medical tubing plays a crucial role in such procedures, as it enables physicians to access internal organs and tissues with greater precision and accuracy.

Which region accounted for the largest share in Global Medical Tubing Market?

Due to its industrial dynamics and abundant commodity supply, North America dominated the market and contributed 37.6% of worldwide revenue in 2022. A number of key factors that influence the region's healthcare market include the existence of a sizable senior population in nations like the United States and Canada, an advanced healthcare infrastructure, and patients with relatively higher discretionary income levels.

Medical Tubing Companies

Q: Who are the key vendors in the Global Medical Tubing Market?

The market for cosmetic dentistry is fragmented worldwide, with the majority of market revenue coming from large and medium-sized firms. Major players are using a variety of tactics, strategic agreements, engaging in mergers and acquisitions, and contracts, as well as creating, experimenting with, and launching more efficient products. 'Saint-Gobain S.A. (France)', 'Tekni-Plex, Inc. (United States)', 'Nordson Corporation (United States)', 'Zeus Industrial Products, Inc. (United States)', 'Teleflex Incorporated (United States)', 'Freudenberg Group (Germany)', 'Lubrizol Corporation (United States)', 'W. L. Gore & Associates, Inc. (United States)', 'Raumedic AG (Germany)', 'Trelleborg AB (Sweden)', 'Freudenberg Medical, LLC (United States)', 'Vention Medical, Inc. (United States)', 'Putnam Plastics Corporation (United States)', 'MDC Industries, Inc. (United States)', 'Teknor Apex Company (United States)', 'Scapa Group plc (United Kingdom)', 'Optinova Group (Finland)', 'Medtronic plc (Ireland)', 'Tekni-Plex Europe NV (Belgium)', 'Spectrum Plastics Group (United States)', 'GMMI S.p.A. (Italy)', 'MicroLumen, Inc. (United States)'.

Medical Tubing Market Competitive Landscape

Top Player’s Company Profiles in Global Medical Tubing Market

Saint-Gobain S.A. (France)

Tekni-Plex, Inc. (United States)

Nordson Corporation (United States)

Zeus Industrial Products, Inc. (United States)

Teleflex Incorporated (United States)

Freudenberg Group (Germany)

Lubrizol Corporation (United States)

W. L. Gore & Associates, Inc. (United States)

Raumedic AG (Germany)

Trelleborg AB (Sweden)

Freudenberg Medical, LLC (United States)

Vention Medical, Inc. (United States)

Putnam Plastics Corporation (United States)

MDC Industries, Inc. (United States)

Teknor Apex Company (United States)

Scapa Group plc (United Kingdom)

Optinova Group (Finland)

Medtronic plc (Ireland)

Tekni-Plex Europe NV (Belgium)

Spectrum Plastics Group (United States)

GMMI S.p.A. (Italy)

MicroLumen, Inc. (United States)

Global Medical Tubing Market

FAQs

Global Medical Tubing Market size was valued at USD 12.25 billion in 2022 and is poised to grow from USD 13.01 billion in 2023 to USD 21.05 billion by 2031, at a CAGR of 6.2% during the forecast period (2024-2031).

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. 'Saint-Gobain S.A. (France)', 'Tekni-Plex, Inc. (United States)', 'Nordson Corporation (United States)', 'Zeus Industrial Products, Inc. (United States)', 'Teleflex Incorporated (United States)', 'Freudenberg Group (Germany)', 'Lubrizol Corporation (United States)', 'W. L. Gore & Associates, Inc. (United States)', 'Raumedic AG (Germany)', 'Trelleborg AB (Sweden)', 'Freudenberg Medical, LLC (United States)', 'Vention Medical, Inc. (United States)', 'Putnam Plastics Corporation (United States)', 'MDC Industries, Inc. (United States)', 'Teknor Apex Company (United States)', 'Scapa Group plc (United Kingdom)', 'Optinova Group (Finland)', 'Medtronic plc (Ireland)', 'Tekni-Plex Europe NV (Belgium)', 'Spectrum Plastics Group (United States)', 'GMMI S.p.A. (Italy)', 'MicroLumen, Inc. (United States)'

Medical tubing is in demand due to an ever-growing market for home healthcare services. More and more patients are being treated outside hospitals, receiving intravenous therapy, wound care, or other respiratory care support-all of which require medical tubing-as advances in telemedicine and remote monitoring make this possible. Other related factors driving the demand for reliable, user-friendly tubing solutions for safe and effective patient care in alternative out-of-hospital settings include the growing trend toward at-home care.

Procedures for Minimally Invasive Surgery: One of the fastest-growing medical tubing market trends affecting the market significantly is in the form of minimally invasive procedures (MIS). For MIS, very flexible tubing specializing in placement within tiny incisions or natural body holes must be provided to accommodate procedures such as laparoscopy and endoscopy. The market is expected to grow because the demand for less invasive surgical techniques is increasing and specialty tubing made for such operations has a higher need, specifically in fluid and gas management.

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.

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Medical Tubing Market Size, Share, Growth Analysis, By Product(Silicone, Polyolefins, Polyvinyl Chloride, Polycarbonates), By Application(Bulk Disposable Tubing, Drug Delivery systems, Catheters, Biopharmaceutical Laboratory Equipment), By Region - Industry Forecast 2024-2031

Medical Tubing Market Competitive Landscape

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Medical Tubing Market Size, Share, Growth Analysis, By Product(Silicone, Polyolefins, Polyvinyl Chloride, Polycarbonates), By Application(Bulk Disposable Tubing, Drug Delivery systems, Catheters, Biopharmaceutical Laboratory Equipment), By Region - Industry Forecast 2024-2031

Medical Tubing Market Competitive Landscape

Medical Tubing Market Report Snapshots

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FAQs

What is the global market size of Medical Tubing Market?

Who are the key vendors in the Medical Tubing Market?

What is the key driver of Medical Tubing Market?

What is the key market trend for Medical Tubing Market?

Which region accounted for the largest share in Medical Tubing Market?

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