Dublin, Oct. 04, 2024 (GLOBE NEWSWIRE) — The “Medical Tubing Market – Materials, Structures and Applications” report has been added to ResearchAndMarkets.com’s offering.
The global Medical Tubing market is estimated at US$13.2 billion in 2024 and is expected to record a CAGR of 7.7% during the 2024-2030 analysis period and stand at a projected US$20.6 billion by 2030.
The global medical tubing market is significantly driven by the rising demand for minimally invasive medical procedures, which are preferred for their lower costs, faster recovery, and shorter hospital stays than conventional surgeries.
The increasing incidence of chronic illnesses like arthritis, cancer, and cardiovascular diseases, which frequently require complex surgeries, has enhanced the demand for these treatments. This trend has led to higher utilization of plastic polymers in the production of catheters and medical tubing, which are essential for various medical equipment. Additionally, market growth is further driven by the growing elderly population requiring regular medical treatments, expanding availability of advanced healthcare facilities, and government initiatives to provide subsidized healthcare.
Medical Tubing Regional Market Analysis
North America holds the dominant position in the medical tubing market, accounting for 43.7% in 2024, due to its advanced healthcare system, leading edge in technology, and strict regulations ensuring safety and quality. Meanwhile, the Asia-Pacific region is projected to be the fastest-growing market, with a CAGR of 9% during the forecast period 2024-2030.
This growth is driven by expanding healthcare investments, rising middle-class populations, and increasing healthcare spending. Additionally, advancements in medical technology, a rising demand for minimally invasive procedures, and a growing geriatric population in emerging countries like China, and India further contribute to the market growth.
Medical Tubing Market Analysis by Material Type
Polyvinyl Chloride (PVC) is a leading material in the medical tubing market, with an estimated share of 29.6% in 2024, owing to its affordability, flexibility, and ease of manufacturing. Its low cost and adaptability make it ideal for diverse medical applications, including catheters and complex medical tubing systems, and it is compatible with standard sterilization methods like autoclaving, gamma irradiation, and ethylene oxide (EtO) sterilization, ensuring safety and clinical integrity. Conversely, silicone medical tubing is expected to record the fastest CAGR of 8.8% during the 2024-2030 forecast period due to its resistance to extreme temperatures, flexibility, and durability against moisture, chemicals, and UV radiation, making it ideal for high-performance applications.
Medical Tubing Market Analysis by Structure
Single-lumen tubing holds the largest market share at 32.9% in 2024 due to its versatility and wide use in medical procedures like catheters, intravenous sets, and respiratory tubes. Nevertheless, multi-lumen tubing is projected to record the fastest CAGR of 8.8% during the 2024-2030 analysis period. This growth is due to the growing need for advanced medical procedures that demand multiple functions in a single tube, as well as the increasing incidence of chronic diseases that require complex catheterization and infusion therapies.
Medical Tubing Market Analysis by Application
The bulk disposable tubing segment led the market with a 28.9% share in 2024, fueled by increasing disposable incomes, and government healthcare investments focused on improving healthcare quality. The growing demand for disposable medical devices like surgical instruments and syringes further boosts this segment. On the other hand, the drug delivery systems segment is expected to register the fastest CAGR of 8.4% during the forecast period 2024-2030, driven by the increasing demand for targeted and controlled medication distribution, with medical tubes playing a vital role in delivering drugs via various systems, like injectable and respiratory systems.
Key Metrics
- Historical Period: 2021-2023
- Base Year: 2023
- Forecast Period: 2024-2030
- Units: Value market in US$
- Companies Mentioned: 15+
Key Topics Covered:
Global Market Overview
- Global Medical Tubing Market Overview by Material
- Medical Tubing Material Market Overview by Global Region
- Polyvinyl Chloride (PVC)
- Silicone
- Polyolefins
- Polycarbonates
- Fluoropolymers
- Polyimide (Nylon)
- Others
- Global Medical Tubing Market Overview by Structure
- Medical Tubing Structure Market Overview by Global Region
- Single-Lumen Tubing
- Multi-Lumen Tubing
- Co-Extruded Tubing
- Braided Tubing
- Tapered or Bump Tubing
- Others
- Global Medical Tubing Market Overview by Application
- Medical Tubing Application Market Overview by Global Region
- Bulk Disposable Tubing
- Catheters & Cannulas
- Biopharmaceutical Laboratory Equipment
- Drug Delivery Systems
- Other Applications
Key Global Players
- Freudenberg & Co. KG
- NewAge Industries, Inc.
- Nordson Corporation
- Optinova AB
- Proterial Cable America, Inc.
- Raumedic AG
- Saint Gobain
- Spectrum Plastics Group.
- TE Connectivity
- Tekni-Plex, Inc.
- Teleflex Incorporated
- The Lubrizol Corporation
- W. L. Gore & Associates, Inc.
- ZARYS International Group
- Zeus Company LLC
For more information about this report visit https://www.researchandmarkets.com/r/mggxmy
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