Medical tubing refers to precise, small-diameter tubing used for fluid and gas handling in various medical devices and hospital equipment. Made from polymers such as PVC, TPE, and silicone, medical tubing finds widespread application in drug delivery systems, catheter assemblies, peristaltic pump and biopharma tubing. It helps transfer body fluids, pharmaceuticals, and gases inside the human body or medical equipment precisely and safely. With the growing prevalence of chronic diseases globally, demand for medical devices relying on tubing is rising rapidly. This is fueling the need for high-quality, biocompatible tubing in the healthcare industry.
The global medical tubing market is estimated to be valued at US$ 9,550.5 million in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period of 2023 to 2030.
Rising healthcare expenditure, an increase in the elderly population suffering from lifestyle diseases, and the growing need for minimally invasive surgeries are some of the key factors driving market revenue growth. Medical tubing offers advantages like pinch-resistance, kink-resistance, small diameters and memory properties help reduce trauma, pain, and risks associated with medical procedures.
Key Takeaways
Key players operating in the medical tubing market are Compagnie de Saint-Gobain S.A., Teleflex Incorporated, Optinova Holding AB, Zeus Industrial Products, Inc., The Lubrizol Corporation, Nordson Corporation, Putnam Plastics Corporation, Raumedic AG, Tekni-Plex, Inc., and Smith Group plc. These companies are focusing on new product launches, mergers & acquisitions, and geographical expansion to strengthen their market position. For example, in 2021, Raumedic AG developed a new polyether block amide tubing for advanced drug delivery systems.
The market provides significant opportunities due to the growing preference for minimally invasive surgeries. Advancements in materials and manufacturing technologies are enabling the development of smaller diameter, flexible, and kink-resistant tubing suited for complex medical procedures. The demand for customizable and complex tubing designs is also on the rise.
Globally, the medical tubing market is witnessing strong growth in the Asia Pacific region due to rising healthcare spending, medical tourism, and increasing incidence of chronic disorders in developing countries. Leading players are making investments to expand their tubing production capacity and distribution networks in high growth markets.
Market Drivers
Rising healthcare expenditure- Growing incidence of lifestyle diseases, ageing population, and improved access to healthcare services in developing nations have increased global healthcare spending in recent years. This is driving the demand for medical devices using tubing.
Technological advancements- New manufacturing technologies enable production of smaller diameter tubing in intricate designs and complex specifications. This allows development of innovative medical devices and customized tubing solutions.
Market Restraints
Raw material price volatility- Fluctuating prices of key polymers such as PVC, silicone, and TPU used for medical tubing affects the operating costs of manufacturers.
Regulatory compliance- Tubing for critical medical applications must meet stringent quality and safety regulations. Obtaining certifications involves long testing and inspection procedures increasing costs.
Segment Analysis
This market is dominated by PVC segment which holds around 45% market share. PVC offers benefits like durability, stability and transparency which makes it ideal material for medical tubing. It is cost effective as compared to other materials and compatible for a variety applications like enteral feeding, drug delivery and peristaltic pumps. The thermoplastic elastomers (TPE) segment is the second largest and growing steadily due to advantages like flexibility and elasticity. TPE finds widespread application in respiratory and IV therapy tubing. Polyolefin segment is also growing owing to properties like high strength, chemical resistance and memory retention. It is preferred for urinary catheter and peristaltic pump tubing. Silicone segment captures smaller market share due to high cost but find application where functionality is critical like in injection and implantable devices.
Global Analysis
North America represents the largest regional market for medical tubing and is expected to maintain dominance over forecast period. Factors like increasing healthcare spending, technology adoption and presence of key players drive the market in the region. Europe accounts for second largest share driven by supportive regulations and growing aged population demanding medical devices. Asia Pacific is fastest growing market owing to improvement in healthcare infrastructure, large patient population and rising medical tourism. Rising cases of chronic diseases and untapped opportunities present lucrative prospects. Latin America and Middle East & Africa offer growth potential with improving access to healthcare. Rise in disposable income and lifestyles changes likely to support market expansion in various emerging countries over coming years.
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