The global Medical Tubing Market was appreciated at US$ 5.96 billion during 2017 and is expected to touch US$ 11.95 billion by 2025. It is estimated to witness a CAGR of 9.1% during the period of forecast.
Increasing
uses of medical tubing in a number of therapeutic devices, for example
diagnostic equipment, catheters, and disposable medical equipment are projected
to motivate the demand in the market during the approaching years. Plastic is
the maximum favored material in the manufacturing of medicinal devices because
of greater impact & tensile strength and the resistance to chemicals.
Medical tubing is utilized for the management of fluid and
drainage. In more or less circumstances, it is furthermore used as
anesthesiology and respiratory apparatus. Production of medical tubing needs
certain documentations because the usage is related straight to the humanoid
body.
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Classification:
The
global medical tubing market can be classified by Polymer, Application,
Structure and Region. By Polymer it can be classified as Silicone, Polyolefin,
Polycarbonates, Fluoropolymers, Polyvinyl Chloride and others. By Application
it can be classified as Drug Delivery Systems, Catheters & Cannulas,
Biopharmaceutical Laboratory Equipment, Bulk Disposable Tubing and others. By
type of Structure it can be classified as Heat Shrink Tubing, Braided Tubing,
Co-extruded, Single-lumen, Balloon Tubing, Tapered or Bump Tubing, and
Multi-lumen.
Regional Lookout:
By
region the global medical tubing market can be classified as North America,
Europe, Asia Pacific, Central & South America, and Middle East &
Africa. Asia Pacific and North America are the maximum attractive provinces for
the manufacturing companies. North America is a developed market whereas the emerging
economies in Asia Pacific are likely to flourish by way of wonderful
development openings steered by India and China. Greater demand for the product
in North America was motivated by the U.S.A. After 2017, North America stayed
the biggest provincial market and is estimated to carry on its supremacy during
the period of forecast.
The
demand for the product in Asia Pacific is largely motivated by China and Japan.
This was responsible for above 60% share of the Asia Pacific demand during the
previous years. China is one of the speedily developing markets for medical
devices in the world. Therefore it is an eye-catching destination for the
manufacturers of tubing. Growth in the healthcare spending and growing emphasis
by the government on the development of healthcare are projected to increase
demand for the product in market.
Companies:
The
existence of leading companies demonstrates greater competition in the market.
Majority of these companies are increasing their product range and technical
proficiency as a measure of their development policies. This helps them
increase competitive advantage above their business competitors.
Some
of the important companies for medical tubing market are Hitachi, Ltd.,
Freudenberg & Co.KG, Spectrum Plastics Group, and TE Connectivity Ltd.
Additional notable companies are W. L. Gore & Associates, RAUMEDIC AG,
Nordson Corporation, Optinova, Saint-Gobain Performance Plastics, Tekni-Plex,
Putnam Plastics, Lubrizol Corporation, Teleflex, Zeus Industrial Products,
Vention Medical Inc., Tecknor Apex Co, Blue star Silicones International, and
DOW Corning Corporation.
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Drivers and Restraints:
Growing
number of elderly people who encounter numerous fitness problems owing to
abridged resistance power require a number of treatments that consist of the
usage of medical tubing. This use of medical tubing is the most important
motivator for global market. Increasing alertness among the people about the
progression in therapeutic services and government arrangements that deliver
funded health care amenities is likewise a reason accountable for the
development of the medical tubing industry.
Increasing
demand for medicinal devices that contain medical tubing is promoting demand
for it. Individuals spending on their fitness fears to evade upcoming threats
and a good number of invasive surgical procedures are also some demand-centered
issues nurturing the development of the global market for tubing. On the other
hand the legal intricacies applied by the government to manufacture medical
tubing is obstructing the development of the global market on certain range.
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