What Is the Size of Global Medical Tubing Industry?
Global Medical Tubing market is growing at a CAGR of ~% in 2018-2022 and is expected to reach ~USD Mn by 2028F. The medical grade tubing market is witnessing robust growth in extruded tubing owing to the increasing development of complex, multifunctional, and miniatured medical devices. Innovations in medical device technology are increasing the level of competition and forcing tubing manufacturers to provide quality and functionality in the products whilst reducing the costs. The advancements in technology enable novel procedures that increase the demand for customized, creative, and thermoplastic tubing solutions.
The market for medical grade tubing is expected to grow, especially due to the shift toward minimally invasive surgeries over conventional surgeries.
New technological advancements such as peelable heat shrink tubing offer the highest heat shrink ratios, allowing cost-effective, low tolerance, and baseline materials for manufacturing catheters. One of the most recent advancements in the market is the development of systems used for the measurement of inner diameters of silicone tubes. For instance, Freudenberg Medical recently launched the Helix iMC system, which uses sensor technology for the measurement of inner diameters of single lumen and multi-lumen tubing. The use of plastics in the medical grade tubing is growing significantly. Plastics materials with its versatile nature has emerged as a strong alternative to the conventionally used metals for medical tubing.
Global Medical Tubing market by Application
The Global medical grade tubing market has been segmented on the basis of application into abrasion protection, drug delivery, bulk disposable tubing, catheters, special applications, and other applications. The drug delivery segment is expected to create an incremental opportunity of USD~ million during the forecast period 2022-2028F. The abrasion protection segment is also expected to witness accelerated growth during the forecast period, registering an incremental opportunity of USD~ million.
Bulk disposable tubing, drug delivery, and catheters are the upcoming segments in this field and are estimated the fastest-growing segments during the forecast period 2022-2028F. Catheters are used for a wide range of medical applications, including minimally invasive surgeries.
Global Medical Tubing Market By End-User
The global medical grade tubing market has been segmented based on the end market into three categories, namely, medical, bio-pharmaceutical and life science, and clinical testing. The bio-pharmaceutical and life science segment is expected to create an incremental opportunity of USD ~million during the forecast period 2022-2028F.
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The medical segment also witnessed accelerated growth due to the increasing need for medical tubing for various medical applications. The medical segment is expected to register a CAGR of ~% during the forecast period 2022-2028F. Clinical testing is the upcoming segment in the medical grade tubing market. In terms of market share, the medical segment is the leading end market in the global medical grade tubing market.
Global Medical Tubing Market By Material
The global medical grade tubing market has been segmented on the basis of material into fluoropolymers, polyolefins, polyvinyl chloride (PVC), silicone, thermoplastic elastomers, and other materials. The fluoropolymers segment is expected to create an incremental opportunity of USD~ million during the forecast period 2022-2028F. The PVC segment is also expected to witness accelerated growth during the forecast period, registering an incremental opportunity of USD~ million.
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The silicone material is the fastest-growing segment during the forecast period 2022-2028F. The demand for silicone in the medical and pharmaceutical industry is steadily increasing owing to its bio-compatible nature and mechanical performance.
Global Medical Tubing Market By Structure
The global medical grade tubing market has been segmented on the basis of product type into two categories, namely, single lumen tubing and multi-lumen tubing. The single lumen tubing segment is expected to create an incremental opportunity of USD~ million during the forecast period 2022-2028F. The multi-lumen segment also witnessed accelerated growth due to the increasing need for medical tubing for various medical applications. The single lumen segment is expected to register a CAGR of ~% during the forecast period 2022-2028F. Multi-lumen tubing was valued at USD~ million in 2022 and is expected to reach USD~ million by the end of 2028F, registering a CAGR of ~% during the period forecast 2022-2028F.
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