Medical Tubes Market to Reach $ 13,770 Million by 2026 at a CAGR of 7.2%
BANGALORE from India, July 19, 2021 / PRNewswire / – Medical Tubes Market by type – PVC, polyolefin, TPE and TPU, silicone, other, by application – disposable bulk tubes, catheters and cannulas, drug delivery systems, others. It is published in Evaluate reports under Medical devices and equipment Category.
The global medical tubing market has been valued at $ 8,418 million in 2019 and should reach $ 13,770 million by the end of 2026, with a CAGR of 7.2% in 2021-2026.
The major factors driving the growth of the Medical Tubing Market are:
- Growing use in a wide range of critical minimally invasive applications such as cardiovascular catheters, stent delivery systems, urological retrieval devices, and drug delivery is expected to drive the medical tubing market.
- The availability of competitively priced medical grade plastics, increasing access to healthcare supplies across the globe, is expected to further propel the medical tubing market.
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TRENDS AFFECTING THE GROWTH OF THE MEDICAL TUBES MARKET
The move towards minimally invasive medical procedures is expected to boost the medical tubing market. Minimally invasive medical procedures are becoming more important than traditional surgical procedures because they offer benefits such as lower costs, faster recovery times, and shorter hospital stays. In addition, the increasing prevalence of disorders such as arthritis, cancer, and cardiovascular disease, all of which require extensive surgical treatment, has spurred the demand for minimally invasive procedures. Plastic polymers, which are suitable for use in catheters and medical tubing, have seen demand increase as a result. In addition, medical tubes improve profitability and save time. As a result, the growing need for minimally invasive medical procedures, as well as the desire to improve the efficiency of these procedures, is driving the demand for medical tubes.
Due to increased awareness of healthcare and aging population, healthcare industry in emerging countries is changing rapidly, presenting many potentials for medical tubing market in healthcare and device industries. medical. The emerging market market is expanding mainly due to economic expansion, increased public spending in healthcare facilities and increased purchasing power of consumers. As a result, the medical tubing market is primarily driven by the overall growth and increased investment in healthcare infrastructure.
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MEDICAL TUBES MARKET SHARE
On the basis of type, PVC held the largest market share of 43.5% in 2018 and is expected to be the most lucrative segment during the forecast period. Due to its ability to meet the exacting standards of the healthcare industry, PVC is the most widely used thermoplastic material in the manufacture of medical tubing. During the forecast period, an increase in the adoption of single-use pre-sterilized medical equipment is likely to drive product demand.
Based on the applications, catheters and cannulas are expected to be the most lucrative during the forecast period. During the projected period, the demand for tubes in the category of catheter applications is expected to increase significantly. Electrophysiological (EP) ablation, angiographic and urinary catheters are just a few of the catheters that use medical tubes. The wide range of applications of catheters in the healthcare sector has the potential to offer producers of medical tubes significant growth prospects.
Depending on the region, North America & Asia Pacific should be the most lucrative regions during the forecast period.
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Segment by type
- TPE and TPU
Segment by application
- Disposable Bulk Tubes
- Catheters and cannulas
- Drug delivery systems
- Saint-Gobain Performance Plastics
- Nordson Corporation
- Freudenberg Group
- B. Braun
- WLGore & Associates
- Lubrizol (Vesta)
- Zeus industrial products
- Putnam Plastics
- Ap Technologies
- MDC Industries
- Teel Plastics Inc.
- FBK Medical Tubes, Inc.
- AP Extrusion
- LVD Biotech
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- United Arab Emirates
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