The rise in cardiac catheterization, particularly in interventional cardiology, is a key trend driving sales in the medical tubing market. The rising prevalence of congenital heart defects is a key trend that is boosting market prospects. The, increasing geriatric population, mounting demand for minimally invasive surgeries, growing awareness regarding hospital-acquired diseases along with rising concern about the spread of such infections will drive the demand for disposable medical devices.
The global medical tubing market is expected to witness a 10.2% CAGR during 2021-2027. In the medical and pharmaceutical industries, medical tubing is designed for a wide range of applications.
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The surge in demand for medical tubing across diverse applications, strict regulations and sustainability mandates, and rising concerns about healthcare will drive the growth of the market. Nevertheless, the increased collaborations and joint ventures between different companies in the medical device sector are anticipated to expand the global reach of the medical tubing market.
Based on material, the global medical tubing market is segmented into plastics, rubbers, and specialty polymers. Specialty polymers are anticipated to be the fastest-growing segment as it is the bioabsorbable polymer and are increasingly replacing commodity plastics due to their high performance. Moreover, the increasing demand for high-quality healthcare services by consumers is playing a significant role in increasing the prominence of these polymers.
Europe is anticipated to be the significant growth during the forecast owing to the rising demand for minimally invasive and diagnostic equipment that use medical tubes will accelerate the growth of the market. The rising adoption of robotic surgeries and robotic-assisted surgeries will lead to less pain with endoscopic techniques led to growth in the medical tubing market in the region.
Some of the major players in the global medical tubing market include Zeus Industrial Products, Inc., Saint-Gobain, Freudenberg Medical, Avient Corporation, RAUMEDIC AG, The Lubrizol Corporation, Elkem ASA, Nordson Corporation, Optinova, and Teknor Apex.
Segments Covered in the Study:
- Material
- Structure
- Application
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Spain, Russia)
- Asia-Pacific (China, Japan, India, South Korea)
- Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)
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