The global medical tubing market size is expected to reach USD 19.50 billion by 2030 according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.7% from 2022 to 2030. The rising respiratory diseases such as pulmonary fibrosis, asthma, and lung cancer are expected to increase the demand for medical tubing as it is a significant component of respiratory devices such as ventilators that facilitate breathing.
Plastics play an important role in the manufacture of medical tubes such as vascular catheters and stent holders due to their inertness to body fluids and tissues, resistance to sterilization conditions, low cost for high volume applications, and higher optical properties. Thus, medical tubes made of plastics are witnessing increased adoption in medical devices.
The growing middle-class population and healthcare facilities have changed the attitude of consumers toward preventive healthcare, which is expected to augment the demand for medical devices, including medical tubing, over the forecast period. In addition, the growing awareness of hospital-acquired diseases is projected to drive demand for disposable medical devices.
The recent Covid-19 pandemic has led to an increase in hospitalizations, augmenting the demand for medical-grade plastics used for making tubes for enhanced patient care in intensive care units. Furthermore, countries have increased their share of investments in the healthcare sector to fight the pandemic which is expected to boost product demand.
The rising geriatric population and increasing awareness regarding health have increased hospital and clinical visits and have increased the number of preventive treatment operations which has increased the demand for medical devices including medical tubing.
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Silicone product segment accounted for 24.2% of the global market share in 2021 Silicone tubing is highly used in medical devices as it provides gasketing, sealing, and safe fluid transfer properties which cannot be achieved by using other materials
Polyolefins are particularly preferred when the medical devices are to fulfill the regulatory requirements established by the FDA. On account of these factors, polyolefins are expected to witness huge growth over the forecast period
Drug delivery systems are designed to provide therapeutic drugs to patients in a targeted and controlled manner. The emphasis on improving the efficacy of the drug delivery rate is propelling the demand for medical tubes in the drug delivery systems application segment
The Asia Pacific regional market is expected to witness the fastest CAGR of 7.0% from 2021 to 2030, owing to the rapid advancement in technology, increase in healthcare expenditure, and strict regulations about the medical device industry
In August 2021, Nordson Corporation acquired NDC Technologies. The aim behind the acquisition is to expand the former’s test and inspection platform into new end markets and adjacent technologies
Grand View Research has segmented the global medical tubing market based on product, application, and region:
Medical Tubing Product Outlook (Revenue, USD Million, 2017 - 2030)
Medical Tubing Application Outlook (Revenue, USD Million, 2017 - 2030)
Bulk Disposable Tubing
Drug Delivery Systems
Biopharmaceutical Laboratory Equipment
Medical Tubing Regional Outlook (Revenue, USD Million, 2017 - 2030)
Central & South America
Middle East & Africa
List of Key Players of Medical Tubing Market
ASAHI TEC CORPORATION
ZARYS International Group
Hitachi Cable America Inc
NewAge Industries, Inc.
Freudenberg & Co. KG
Spectrum Plastics Group
Vanguard Products Corporation
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