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

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 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.