DUBLIN, March 21, 2023 /PRNewswire/ -- The "Global Medical Tubing Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Material, Structure, Application, End-User, and Major Regions" report has been added to ResearchAndMarkets.com's offering.
According to this analysis, the Global Medical Tubing Market is expected to record a positive CAGR of ~11% during the forecast period (2022-2028) and is expected to reach nearly US$ 21 billion by 2028, owing to an increase in advancement in drug delivery system along with the rising prevalence of various diseases such as cardiovascular, respiratory, and other diseases.
Medical tubing is designed for a variety of medical or pharmaceutical-related applications that allows clinicians to administer devices and fluid or liquid and gas flow. Medical tubes are made from different materials such as polyvinyl chloride (PVC), silicon, polyethylene, and others and are available in a variety of shapes and sizes to meet the demand for medical tubing in various applications.
The type of material used to manufacture medical tubing plays an important role as incompatibility of material can lead to chemical alteration of medicines or drugs, binding of chemical or drug delivery to the patient, and other serious issues. Medical tubing has become the most supportive apparatus in the modern medical and healthcare industry.
The growing demand for minimally invasive procedures and the rising prevalence of diseases are some of the factors driving the market growth.
The increasing demand for minimally invasive medical procedures over conventional surgical procedures, as these ensure benefits like low cost, quick recovery time, and lesser duration of hospital stays, is likely to boost the demand for the medical tubing market globally.
The rising cases of various diseases including respiratory disease, cardiovascular diseases, digestive disorders, and others increase the demand for medical tubing as it requires complex surgeries, which is expected to aid the growth of the global medical tubing market.
The global medical tubing market faces challenges due to significant investments and delays in regulatory approvals for medical tubing.
The requirement of high investment for manufacturing medical tubing and intensive research and development process along with stringent regulation on medical tubing and delay in regulatory approvals is the most significant barrier to the growth of the global medical tubing industry.
The COVID-19 pandemic positively impacted the medical tubing market as the demand for equipment with tubing apparatus including infusion pumps, ventilators, and others increased along with the high prevalence of COVID-19 illness, which affected the lungs and other respiratory problems and significantly boosted the demand for medical tubing. In September 2020, according to World Health Organization (WHO), more than 32.7 million COVID-19 cases and 991,000 deaths had been reported.
Scope of the Report
The Medical Tubing Market is segmented by material, structure, application, and end-user. In addition, the report also covers market size and forecasts for the four region's Medical Tubing Market. The revenue used to size and forecast the market for each segment is US$ billion.
By End-User Segmen
Key Trends by Market Segment
By Material: Polyvinyl Chloride (PVC) segment held the largest share of the Global Medical Tubing Market in 2021, owing to its wide usage with several medical devices as PVC is inert, non-toxic, versatile, and easy to manufacture.
PVC medical tubes are comparatively more flexible and can be sterilized using the ethylene oxide sterilization method or using irradiation.
According to PVCMed Alliance, PVC offers excellent chemical resistance, durability, affordability, and low maintenance cost and is known as the most versatile material. In addition, one of the main applications of medically approved PVC is flexible medical tubing.
By Structure: Single-lumen segment held the largest share of the Global Medical Tubing Market in 2021, attributed to the wide application of single-lumen structures of medical tubing in drainage catheters, intravenous lines (IV), urology, delivery of anesthesia, and others.
Single-lumen medical tubing is best for decompression. An increase in research on the use of single-lumen tubing in medical cases is anticipated to propel the growth of the segment in the market.
In January 2021, according to National Center for Biotechnology Information (NCBI), a research study showed that usage of a single lumen tube (SLT) along with extraluminal bronchial blockers is a convenient option for fiber optic bronchoscope examination, sputum suction, and management of one-lung ventilation (OLV) in severe tracheal stenosis cases.
By Application: The bulk disposable tubing segment held the largest share of the Global Medical Tubing Market in 2021, due to increased focus on the prevention of the spread of infection from one patient to another.
The demand for bulk disposable tubing suddenly increased during the COVID-19 pandemic to decrease the risk of infection by using disposable products including medical tubing.
In November 2020, Olympus launched single-use Procedure Kits and Hybrid Tubing. The new product launch aimed to offer products that reduce the chances of cross-contamination and prevent infection in patients.
By End-User: The hospital segment accounted for the largest share of the Global Medical Tubing Market in 2021, owing to the accessibility of the latest equipment and increasing cases of cardiovascular, respiratory, and digestive diseases, and other diseases.
In April 2020, hospitals and governments raised the alarm regarding the shortage of ventilators due to the widespread use of breathing machines for COVID-19 patients. The COVID-19 patients were on respiratory support and the lack of ventilators has increased its demand along with medical tubing to offer them proper patient care.
By Geography: North American region accounted for the largest share of the Global Medical Tubing Market in 2021, due to the presence of a large number of medical tubing manufacturers in the region along with the increase in the geriatric population, especially in the USA and Canada.
An increase in government expenditure for developing and upgrading healthcare infrastructure is anticipated to augment the growth of the region in the market.
In July 2022, DuPont opened a new biopharma tubing manufacturing site named DuPont Liveo Healthcare in the USA. The company aims to cater to the rising healthcare demand of the end-users in the country.
Asia-Pacific is the fastest-growing region in the Global Medical Tubing Market due to the rising prevalence of diseases such as chronic diseases, urological ailments, gastrointestinal diseases, and others along with the increase in healthcare expenditure and growing popularity of minimally invasive treatments.
For more information about this report visit https://www.researchandmarkets.com/r/8pm9vv
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