According to Emergen Research, the global medical grade tubing market size was USD 4.33 billion in 2020 and is expected to reach USD 10.44 billion in 2028 and register a steady revenue CAGR of 8.8% during the forecast period, 2021-2028. The increasing geriatric population, growing demand for minimally invasive procedures, and rising prevalence of respiratory diseases are some key factors expected to drive global Medical Grade Tubing market growth.
Medical tubing can be used for several things, including gas flow and the ability of professionals to deliver fluids and equipment. Medical tubing is frequently used for ventilators, but it is also utilized as a distribution system for other equipment, to support access devices, and to support ventilators. Medical-grade tubing is also used to power catheters during cardiac catheterizations to detect blood artery narrowing, evaluate pressure and oxygen levels in various heart regions, assess pump performance, perform biopsies, diagnose congenital heart defects, and detect problems with heart valves.
Medical grade tubing allows healthcare experts to administer fluid or allow for glass flow. These tubes are widely used for fluid management and drainage, catheters, anesthesiology and respiratory equipment, biopharmaceutical laboratory equipment, and peristaltic pumps. Increasing hospital admissions and high risks of infections from patient to the patient have led to surging demand for medical-grade tubes. Over the years with rapid technological advancements, medical tubes have become smaller and thinner. Factors such as increasing number of product launches, improving healthcare infrastructure, rising healthcare awareness, and high demand for top-quality tubing are expected to drive global market revenue growth.
In addition, the rising prevalence of chronic diseases such as cancer, cardiovascular diseases, arthritis, and asthma, extensive use of medical tubing in cardiovascular catheters, and increasing investments in developing advanced, small, and thin medical tubes are expected to boost the global market growth. However, high initial investments, stringent regulatory norms for the production and commercialization of medical-grade tubing, and time-consuming approval procedures are some key factors that can hamper market growth to a certain extent during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- took a toll on the economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continues to cause concerns and impact normal routines
Polyvinyl Chloride Segment To Register Robust Revenue CAGR:
The polyvinyl chloride (PVC) segment revenue is expected to expand at a robust CAGR during the forecast period. This can be attributed to the high preference for PVC due to its biocompatibility, durability, resistance to heat and chemicals and cost-effectiveness, availability of various types of PVC medical tubes, and growing demand for single-use PVC medical tubing for various applications.
Bulk Disposable Tubing Segment to Account for Significant Revenue Share:
The bulk disposable tubing segment is expected to account for a significant revenue share between 2021 and 2028 owing to the increasing prevalence of chronic diseases and growing demand for bulk disposable tubes in hospitals and clinics used in drug delivery tubing, blood transfusion, IV infusion tubing, and dialysis tubing among others.
North America to Lead In Terms of Revenue Share:
North America is expected to account for the largest revenue share in the global market over the forecast period owing to high healthcare expenditure, the presence of well-established medical infrastructure, rapid technological advancements, and a large patient pool. Other factors such as the presence of leading manufacturing companies, growing demand for minimally invasive surgical procedures, and increasing investments in research and development activities are expected to drive market growth in North America.
Major Companies in the Market Include:
- Teleflex Medical OEM
- Contech Medical Inc.
- Bio-Chem Fluidics, Inc.
- Tekni-Plex, Inc.
- Freudenberg Medical, LLC
- Polyzen, Inc.
- NewAge Industries
- International Polymer Engineering, Inc.
- RAUMEDIC AG
- Saint-Gobain S.A.
For this report, Emergen Research has segmented the global medical grade tubing market based on material, application, structure, and region:
Material Outlook (Revenue, USD Billion; 2018–2030)
- Polyvinyl Chloride
- Thermoplastic Elastomer and Thermoplastic Polyurethane
Application Outlook (Revenue, USD Billion; 2018–2030)
- Bulk Disposable Tubing
- Catheters & Cannulas
- Drug Delivery Systems
- Special Applications
Structure Outlook (Revenue, USD Billion; 2018–2030)
- Tapered Tubing
- Braided Tubing
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- the U.S.
- the U.K.
- Rest of Europe
- the Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA