(MENAFN- PR Newswire) CHICAGO, Nov. 1, 2023 /PRNewswire/ -- The report " Medical Tubing Market
by Material (Plastics, Rubbers, Specialty Polymers), Application (Bulk Disposable Tubing, Catheters & Cannulas, Drug Delivery Systems, Specialty Applications), Structure, and Region - Global Forecast to 2028" , is projected to reach USD 15.7 billion by 2028, at a CAGR of 8.2% from USD 10.6 billion in 2023.
The Medical tubing market is driven by increasing demand for minimally invasive medical procedures, growing adoption of advanced medical technologies, development of novel technology, increasing demand for medical tubing in healthcare industry, and stringent regulations for medical devices.
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"Rubber is projected to be the largest material of medical tubing, in terms of value, during the forecast period."
Rubber medical tubing is made from different materials such as silicone, polyurethane, latex, thermoplastic elastomer, ethylene propylene diene monomer, and thermoplastic polyurethane. These tubes are flexible, durable, and abrasion-resistant, making it suitable for various medical applications. It is used for various applications such as blood transfusion, IV transfusion tubing, respiratory tubing, urological products, syringes, needles, surgical instruments, and others.
"Catheters & cannulas is projected to be the largest application of the medical tubing, in terms of value."
Catheters & cannulas are medical tubes used for healthcare applications such as medication, drainages of fluids, and blood pressure measurement. The catheters & cannulas market is driven by increasing cardiovascular diseases and the growing demand for minimally invasive surgeries. Consumers are opting for minimally invasive surgeries, as the procedure reduces the time of stay in hospitals during treatment, which lowers the overall costs a patient will incur during the treatment.
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"North America captures the largest share in the medical tubing market during the forecast period, in terms of value."
The North America region is a significant market for medical tubing, driven by high awareness of medical tubing for applications such as bulk disposable tubing, catheters & cannulas, drug delivery devices, special applications in the healthcare sector, and large-scale production in the region, technological advancements, aging population, and stringent regulatory standards.
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Mergers, new product launches and expansions are the major growth strategies adopted by the key players in the market. The key global players in the medical tubing market include Saint-Gobain (France), Freudenberg Medical (US), W. L. Gore & Associates, Inc. (US), Lubrizol Corporation (US), TE Connectivity (Switzerland), Nordson Corporation (US), Elkem ASA (Norway), Raumedic AG (Germany), Teknor Apex (US), Spectrum Plastics Group (US) and others.
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