Medical Tubing Market Size, Share & Trends Analysis Report By Product, By Application, By Region And Segment Forecasts, 2020 - 2028

Medical Tubing Market Size, Share & Trends Analysis Report By Product, By Application, By Region And Segment Forecasts, 2020 - 2028

  • October 2021 •
  • 100 pages •
  • Report ID: 5843929 •
  • Format: PDF
Medical Tubing Market Size, Share & Trends Analysis Report By Product (Fluoropolymers, PVC), By Application (Bulk Disposable Tubing, Drug Delivery Systems), By Region (APAC, North America), And Segment Forecasts, 2020 - 2028

Medical Tubing Market Growth & Trends

The global medical tubing market size is expected to reach USD 19.53 billion by 2028, registering a CAGR of 7.0% over the forecast period. Rising access to healthcare supplies worldwide, easy availability of cost-competitive medical-grade plastics, and increasing demand for medical devices that integrate tubing are the major factors driving the market. Increasing consciousness about Hospital-Acquired Infections (HAIs) along with increasing concerns about the spread of these infections are anticipated to boost the demand for disposable medical devices. Rising strategic alliances within the medical equipment industry across the globe are expected to drive the market.

Medical device OEMs are coming up with various designs and materials to enhance the performance of the devices to sustain in the rapidly advancing medical equipment industry.OEMs demand medical tubing solutions that are easier to replace and reduce the risks of drug contamination and infection.

A wide variety of specialized tubes, such as braided, balloons, and multi-layer, are introduced by key manufacturers to meet the varied requirements of end-users. Key manufacturers are setting up new manufacturing plants to increase the production capacity.

Medical Tubing Market Report Highlights
• Bulk disposable tubing accounted for more than 35% of the global revenue share in 2020
• The segment growth can be credited to the high emphasis on preventing the spread of infections from one patient to another and high robust investments in the healthcare sector in APAC countries
• The fluoropolymers segment is estimated to grow at the fastest CAGR over the forecast period
• This is due to the properties of fluoropolymers, such as high purity with low extractable, dielectric properties, chemical inertness, and usability in a wide range of temperatures
• The Asia Pacific regional market is expected to witness the fastest CAGR of 8.4% from 2020 to 2028
• The growth is credited to the rapid advancement in technology, increase in healthcare expenditure, and strict regulations about the medical device industry
• Manufacturers are engaged in adopting various strategies including mergers & acquisitions, expansion, and geographical expansions to gain maximum market share