Global Medical Tubing Market Research Report 2023

Medical Tubing Market Statistics 2023

The global Medical Tubing market was valued at US$ 7420.1 million in 2022 and is anticipated to reach US$ 13570 million by 2029, witnessing a CAGR of 8.9% during the forecast period 2023-2029. Key drivers of the medical tubing market include a growing shift towards minimally invasive procedures and the increasing prevalence of chronic diseases. Further, the aging population, healthcare awareness, and improving healthcare infrastructure in emerging economies will drive the growth of the medical tubing market during the forecast period. Moreover, the increasing demand for medical tubes for tackling the covid19 pandemic will propel the growth of the market.

Trends Influencing the Growth of the Medical Tubing Market 

Shift towards minimally invasive procedures and increasing prevalence of chronic diseases

Minimally invasive procedures are being preferred over traditional surgical treatment due to various benefits such as reduced cost, less operating time, shortened hospital stays, and faster recovery.  The increasing prevalence of chronic diseases such as arthritis, back pain, cancer, and cardiovascular problems have boosted the demand for minimally invasive treatment. This has caused widespread usage of plastic polymers which are used in medical tubing and catheters. Thus growing shift towards minimally invasive procedures and increasing chronic diseases will drive the growth of the medical tubing market during the forecast period.

Aging population, healthcare awareness, and improving healthcare infrastructure

The increasing aging population along with growing healthcare awareness across the globe are driving the need for more medical devices which incorporate tubes. Also, emerging economies are experiencing fast economic growth. This is leading to increased government spending on healthcare facilities, more purchasing power, and overall growth in healthcare infrastructure. Thus the growing aging population along with increased awareness and infrastructure is expected to drive the growth of the market during the forecast period.

Covid 19 pandemic 

The covid 19 pandemic has led to a rise in hospitalizations across the globe. The demand for ventilators and ICUs has risen rapidly as more patients require proper care. This has increased the need for medical tubes for tackling the pandemic. Thus covid 19 has increased the demand for tubes thereby propelling the growth of the medical tubing market during the forecast period.

Medical Tubing Market Share Analysis

Based on application, the bulk disposable tubing is expected to provide lucrative opportunities for growth in the medical tubing market share due to growing healthcare infrastructure in developing economies, the need for infection prevention and efficiency.

Based on product type, the PVC( Polyvinyl Chloride) segment is expected to provide lucrative opportunities for growth in the medical tubing market share as the increasing use of single-use sterilized medical devices has boosted the demand for PVC medical devices. Also, PVC is transparent, biocompatible, and chemical resistant which enhances its use in medical tubes.

Based on region, North America and Europe together hold a share of 70% and will provide lucrative opportunities for growth in the medical tubing market share during the forecast period.

The major players in global medical tubing market include Saint-Gobain Performance Plastics, Nordson Corporation, Freudenberg Group, etc. The top 5 players occupy about 15% shares of the global market.

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