Medical Tubing Market worth $7.9 billion by 2026
Research Reports
Oct 27, 2022
According to the new market research report, “Medical Tubing Market by Material (Plastics, Rubbers, Specialty Polymers), Application (Bulk Disposable Tubing, Catheters & Cannulas, Drug Delivery Systems, and Special Applications), Structure, and Region – Global Forecast to 2026″, The global medical tubing market size is projected to grow from USD 4.9 billion in 2021 to USD 7.9 billion by 2026, at a CAGR of 10.0% between 2021 and 2026. Medical tubing is a polymer-based tube produced by the extrusion process. Medical tubes can be inserted into a human body to remove fluids and deliver drugs. They are also used in many medical devices such as catheters & cannulas and peristaltic pumps for removing fluids or inserting drugs. Growing awareness and government initiatives to provide high-quality healthcare facilities ultimately drives the medical tubing market globally.
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The bulk disposable tubing application segment is estimated to lead the medical tubing market during the forecast period.
Disposable medical tubing, also known as common disposable tubing, is designed for single use and can be easily disposed of once used. The major growth factors driving the bulk disposable tubing segment include the need for modernizing healthcare infrastructure, prevention of infection, and need for increased efficiency. The growth of this segment in developing countries is exponential due to the rising economic growth, increased disposable income and purchasing power, and increasing investments by governments to provide superior-quality healthcare facilities. Bulk disposable tubing comprises tubes used in blood bags for blood transfusion, IV infusion tubing, drug delivery disposables, respiratory disposables, products for dialysis, laboratory disposables, and wound management disposables.
The plastic material segment is expected to lead the medical tubing market during the forecast period.
The plastics segment accounted for the largest share (56.5%) in the global medical tubing market, in terms of volume, in 2020. Plastic is the most dominating material used for medical tubing because of its low cost and ease of processing. PVC is a dominant plastic material used to manufacture medical tubing because of its low price. The ease of fabrication, manufacturing, and assembly makes it a preferred material for medical tubing. PVC can be used in a wide range of applications, as it exhibits excellent stability and chemical resistance.
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The global medical tubing market size is projected to reach USD 7.9 billion by 2026 growing at a CAGR of 10.0% from 2021 to 2026. The increasing demand for medical tubing in various healthcare segments coupled with stringent regulations concerning healthcare safety is driving the market for medical tubing.
The increase in demand for medical tubing and the growing industrial development in the emerging economies, such as APAC and South America, are driving the market. The key players in this market are Saint-Gobain (France), Freudenberg Medical LLC. (US), W.L. Gore and Associates Inc. (US), Avient Corporation (US), Raumedic AG (Germany), Lubrizol Corporation (US), Elkem ASA (Norway), Dow Corning Corporation (US), Nordson Corporation (US), Teknor Apex (US), and Optinova (Finland). These players have adopted various strategies such as investment & expansion, merger & acquisition, partnership & agreement, and new product launch in order to strengthen their market position. For instance, in August 2021, Nordson Corporation entered into a distribution agreement with Qosina. Under this agreement, the company will distribute its medical products through its distribution partner, Qosina.
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Saint-Gobain SA is among the leading producers and suppliers of medical tubing and medical-related polymers. The company was incorporated in 1665 in France. The company manufactures and markets medical tubing for application in various medical fields such as dialysis, chemotherapy drug delivery, and minimally invasive surgeries. Saint-Gobain adopts expansions as the major growth strategy; recently, it expanded its manufacturing facility in the US to cater to the growing demand. The company has focused on the adoption of organic strategies to cement its position as the leader in the medical tubing market.
Lubrizol Corporation operates as a wholly-owned subsidiary of Berkshire Hathaway (headquartered in the US). The Lubrizol Corporation operates as a specialty chemical and performance materials company engaged in the production and supply of plastic and chemical products for application in a multitude of healthcare, medical, industrial, and consumer sectors on a global level. The company offers its medical-grade products such as materials for the production of medical tubing as well as medical tubing under its life sciences sub-segment. In terms of geographical footprint, Lubrizol Corporation has a global presence, operating ~40 labs/technical centers, ~60 manufacturing sites, and ~50 sales offices across the globe. The workforce strength of the company is around 8,800 employees, as of December 2020. Some of the major countries where the company has its production facilities or lab/technical centers located are the US, Belgium, Brazil, China, France, Germany, India, Japan, Malaysia, the Netherlands, Singapore, South Africa, Spain, and the UK.
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