Global Medical Tubing Market – Industry Forecasts and Future Trends 2022
The worldwide medical tubing market is expected to witness an outstanding growth over the forecast period on account of the rising geriatric population base across the globe, shifting consumer preference towards minimally invasive therapeutic procedure and increasing demand for medical devices with tubing facility. The report, “Global Medical Tubing Market Research Report- Industry Analysis, Size, Share, Growth, Trends and Forecast” segments the market by application and geography and provides the complete analysis of the market drivers, restraints, growth and future trends.
The growing consumer awareness for a better health-care facility and rising government initiatives to offer improved healthcare facilities will further aid in the growth of the market in the projected period. Over the past few years, growing health concern has forced the population to spend money on high-quality healthcare services, particularly in the emerging economies, which in turn will drive the market demand in the near future. However, huge investment and time required for the product development are a major concern for the industry players, which can negatively impact the growth of the market in the forthcoming years.
The global market has been segmented based on material type into polyvinyl chloride (PVC), polyolefin, thermoplastics elastomer & thermoplastic polyurethane (TPE & TPU), silicones and specialty polymers. The polyvinyl chloride (PVC) is anticipated to remain the dominant material type during the forecast period owing to its growing usage for several applications due to its low cost & some comparable functional features as compared to other polymers which make the segment suitable for all purposes without making a lot technological changes. The market has been further segmented based on structure into single-lumen, co-extruded, multi-lumen, tapered or bump tubing and braided tubing. Furthermore, the market has been segmented based on applications. The catheters & cannulas is a major application segment and are estimated to witness a double-digit growth in the study period on account of to its growing demand worldwide along with increasing government initiatives to adopt low-cost & better quality healthcare facilities.
North America has accounted for major market share and is expected to continue its dominance over the forecast period owing to the presence of a huge distribution network of manufacturers, increasing the standard of living and rising health concerns in the consumers of the region. Asia Pacific is a fastest growing market and is estimated to grow at the highest CAGR during the forecast period due to the rising demand for minimally invasive medical procedure, high standards of living and increased government initiatives in the region.
The major key players include Bluestar Silicones International (Elkem Group), DOW Coning Corporation, Freudenberg Medical' LLC, Lubrizol Corporation, Polyone Corp., Raumedic AG, Saint-Gobain Performance Plastics, Tecknor Apex Co., Vention Medical Inc., and W.L. Gore & Associates' Inc.
In March 2015, Smiths Medical, a leading medical device manufacturer, has launched the “Portex Blue Line Ultra tracheostomy tubes” for adult patients. It is made of thin-walled inner cannulae which help in increased respiratory airflow to progress the patient’s breathing while maintaining airway hygiene & patency.
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