The Global Medical Tubing Market Size - USD 6.54 billion in 2018, Growth at a CAGR of 8.4%, Trends-Increasing geriatric population

NEW YORK CITY, NEW YORK, UNITED STATES, May 19, 2022 /EINPresswire.com/ -- The global Medical Tubing Market is expected to reach USD 12.50 Billion by 2026, according to a new report by Reports and Data. Medical tubing is a kind of tubing that comply with medical industry requirements and standards for various medical or pharmaceutical related applications. Medical tubing is deployed for fluid management and drainage along with anesthesiology and respiratory equipment, IVs, catheters, and biopharmaceutical laboratory equipment, among others.

Increasing geriatric population is expected to drive the market demand in the forecast period. Elderly people face several health issues owing to reduced immunity strength and require various treatments that include the implementation of medical tubing. Increasing awareness pertaining to advancement in healthcare facilities and government initiatives to make subsidized medical facilities available to people is another driver causative of the market growth. Growing demand for medical devices that has medical tubing as a part of the equipment is pushing demand for the tubing. Increased healthcare spending to avoid future hazards and a large number of invasive surgeries are increasing the demand for medical tubing. Continuous customization of polymers and restructuring of the tubing has given various opportunities for the players in the market.

Additionally, the expanding medical industry in both developed and developing regions are positively impacting the market demand. The demand for medical tubing is mounting in surgical implants owing to lubricity and biocompatibility. Growing instances of non-invasive surgical procedures for treatment is propelling the market growth in emerging economies such as India and China.

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Further key findings from the report suggest:

Plastics contributed to the largest market share in 2018 and is expected to grow at a rate of 8.8% in the forecast period as plastic tubing delivers a wide range of chemical and corrosion resistance, exceptional abrasion and wear resistance, greater flexibility, visual contact with the flow, and outstanding flow characteristics.
By application, catheters held a substantial market share in 2018 and are forecasted to grow at a rate of 8.9% in the forecast period. Medical catheters and tubing are like carriers, navigating intricate regions of the body to deliver or remove fluids and to treat or diagnose abnormalities. Their role is fundamental to several diagnostic procedures and treatments, such as medicine delivery and toxin removal, among other specific functions.
The market in the North America region dominated the market in 2018 and is projected to grow at a rate of 8.1% in the forecast period owing to initiatives taken by the governments in the region to offer superior medical facilities.
Key participants include Zeus Industrial products, Teleflex, Saint-Gobain Performance Plastics, Optinova, Lubrizol, Spectrum Plastics Group, Nordson Corporation, Raumedic, Putnam Plastics, and Tekni-Plex, among others.

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Material Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)

Plastics
Metals
Silicone

Application Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)

Bulk Disposable Tubing
Biopharmaceutical Laboratory Equipment
Catheters
Others

End-User Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)

Hospitals & Clinics
Ambulatory Surgical Centers
Medical Labs
Others

The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.

The Medical Tubing market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Medical Tubing market.

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The global Medical Tubing market is segmented into:

North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

What are the dominating factors that are influencing the growth of the industry?
In the forecast period, which market segment is expected to rise the most?
What are the risks and challenges that the industry is facing?
In the coming years, which area is projected to dominate the market?
Who are the major players in the market?
What kind of strategic business plans have they made?

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Thank you for taking the time to read our article. The report can be tailored to the needs of the client. Please contact us for more details, and our team will tailor the report to your specific requirements.

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