In 2023, the medical tubing market is projected to be worth USD 13.1 Billion. By 2033, it is anticipated to reach a valuation of around USD 23.5 Billion. The global market is predicted to surge at a 6.0% CAGR from 2023 to 2033.
Medical tubing is expected to provide an absolute dollar potential worth USD 10.4 Billion throughout the projected period, according to Future Market Insights (FMI). In 2022, the market was valued at USD 12.2 Billion.
Need for medical tubing has increased as a result of several significant factors that together made up the contemporary healthcare sector environment. These include ongoing concerns about the state of the world’s health, changes in population, modifications to medical procedures, growing public awareness of infection control, and technological advancements.
Backed by the rapid technological advancements in medical treatments and diagnostic techniques, use of more specialized medical tubing has become essential. Medical tubing is an essential tool for carrying out several procedures.
They range from sophisticated imaging techniques to less invasive operations. Hence, there is a higher demand for personalized tubing solutions globally. This is because better accuracy, mobility, and interoperability with state-of-the-art medical equipment are required.
Another factor affecting the need for medical tubing is the world’s aging population and other changes in demographics. Continual medical attention, drug administration, and a range of treatment measures are frequently required for elderly people.
Medical tubing must be used extensively for each of these. Demand for medical tubing that supports elderly care is projected to increase as the global population ages.
Emphasis now is on the patients’ comfort and recovery as a result of evolving healthcare practices. As a result, cutting-edge medical equipment has been developed that calls for precisely planned tubing to ensure seamless transmission of fluids, gases, and medications.
Demand for greater comfort, a lower risk of difficulties, and ease of use has led to an increasing need for medical tubing. Patients and medical professionals are both seeking patient-centered treatment today, which could help with demand.
Growing emphasis on infection prevention and control has further boosted the need for medical tubing. Infections related to healthcare remain a key concern.
It might make the development of more sterility- and contamination-resistant materials and designs necessary. Operating rooms, intensive care units, and other high-risk medical environments are examples of where the need for infection-resistant tubing is particularly critical.
Importance of building a robust and adaptable healthcare infrastructure has been brought to light by the COVID-19 pandemic and other recent global health crises. Need for efficient and timely distribution of medical supplies was made obvious by the pandemic.
Key Takeaways from Report:
- The global medical tubing market recorded a CAGR of 7% in the historical period between 2018 and 2022.
- South Korea medical tubing industry is projected to witness a CAGR of around 6% in the review period 2023 to 2033.
- Japan medical tubing industry is expected to rise at a CAGR of 9% in the evaluation period.
- In terms of product, the silicone segment is anticipated to witness a CAGR of 8% in the forecast period.
- Based on application, the bulk disposable tubing segment is anticipated to register a CAGR of around 7% in the assessment period.
“Trend toward remote monitoring and home healthcare is to blame for the rising use of medical tubing. Technology advancements that enable patients to receive health monitoring at home have reduced the need for lengthy hospital stays. It is hence expected to create new growth avenues for small- and large-scale companies.” – says a lead analyst at Future Market Insights (FMI).
Accelerated Market Demand: Find Comprehensive Insights and Trends in Our Full Report!
Medical Tubing Market Report Scope:
| Attribute | Details |
| Estimated Market Size (2023) | USD 13.1 billion |
| Projected Market Valuation (2033) | USD 23.5 billion |
| Value-based CAGR (2023 to 2033) | 6.0% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value (USD billion) |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, Russia, GCC Countries, India, China, Japan, and Australia |
| Key Segments Covered |
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| Key Companies Profiled |
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Competitive Landscape:
Leading medical tubing producers are looking into global markets to take advantage of the expanding healthcare sectors everywhere. They can access new growth prospects and enlarge their consumer base by extending their presence beyond their local markets.
Collaboration between hospitals, research institutions, and manufacturers of medical devices is becoming increasingly common. By partnering and co-creating innovative solutions, manufacturers can get knowledge of emerging desires and trends. This might also help to guarantee that their products work flawlessly with other medical equipment.
For instance,
- DuPont started operating a new production plant for DuPont Liveo Healthcare Solutions in July 2022 at the Cooper River Site in South Carolina. The new facility will increase its capacity to handle biopharmaceutical tubing extrusion in order to meet the rising demand from Liveo customers.
Medical Tubing Market Outlook by Category
By Product:
- Silicone
- Polyolefins
- Polyimide
- Polyvinyl Chloride
- Polycarbonates
- Fluoropolymers
- Polytetrafluoroethylene (PTFE)
- Fluorinated Ethylene Propylene (FEP)
- Others
By Application:
- Bulk Disposable Tubing
- Drug Delivery Systems
- Catheters
- Biopharmaceutical Laboratory Equipment
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
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Website: https://www.futuremarketinsights.com
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