Medical Tubing Market Trends, Share, Industry Size, Growth, Opportunities and Forecast 2023-2031
Demand for healthcare services and improvements in medical technology are fueling the expansion of the medical tubing industry. Since medical tubing is used in so many different kinds of medical procedures and devices, the market has been growing steadily. Fluid management, drug delivery systems, catheters, respiratory and anaesthesia devices, and surgical tools are just a few of the many uses for medical tubing. Safety, compatibility, and dependability in medical environments are guaranteed by the tubing’s construction to fulfil high regulatory criteria. From 2023 to 2031, the market for medical tubing is expected to expand at a CAGR of 6.2%. The ageing population, the incidence of chronic diseases, rising healthcare spending, and innovative medical procedures are all driving forces in the medical tubing market. Market growth is also being fueled by factors such as the increasing popularity of minimally invasive surgical procedures and the introduction of novel medical equipment.
Smaller incisions, less pain during surgery, quicker recovery, and fewer potential consequences have contributed to the rise in popularity of minimally invasive surgery in recent years. As a result, more and more laparoscopy, endoscopy, and catheter-based therapies call for medical tubing. The global market for minimally invasive surgical equipment is expected to increase at a CAGR of 9.5% from 2021 to 2026, as reported in the Journal of Laparoendoscopic& Advanced Surgical Techniques. Specialised medical tubing that can transmit imaging systems, therapeutic devices, and guide wires is in high demand because to the rising number of patients requiring endoscopic operations, according to the American Society for Gastrointestinal Endoscopy.
The market for medical tubing has been considerably influenced by the rapid development of cutting-edge medical technologies, which in turn has led to the introduction of cutting-edge materials, designs, and functionalities. Medical tubing has improved thanks to technological developments that allow for better performance, biocompatibility, and sterilisation to meet the changing needs of healthcare providers and patients. Medical tubing’s pliability, toughness, and biocompatibility have all been enhanced by the development of cutting-edge materials including polyurethane, silicone, and thermoplastic elastomers. The patient’s safety and quality of life are both enhanced by this. Extrusion technology and other advances in manufacturing have made it possible to create intricate tubular shapes with highly controlled dimensions and functional properties.
Browse for the report at: https://www.acutemarketreports.com/report/medical-tubing-market
The increased demand for medical tubing can be partially attributed to the increasing incidence of chronic diseases such as cardiovascular ailments, respiratory conditions, and diabetes. Medical tubing is used for fluid management, drug delivery, and respiratory support because these illnesses often require long-term monitoring, drug administration, and supportive care. According to the World Health Organisation (WHO), chronic diseases account for roughly 71% of all deaths around the world. This is indicative of a sizable patient population requiring sustained medical attention, which in turn necessitates the usage of medical tubing. The American Diabetes Association estimates that by 2045, there will be 700 million persons with diabetes worldwide. Demand for insulin delivery systems, which utilise medical tubing for such purposes, will increase as a result.
Strict regulatory restrictions and the need to comply with multiple standards and norms are a barrier for the medical tubing market. The purpose of these rules is to guarantee the quality, reliability, and effectiveness of medical equipment, such as medical tubing. However, they can complicate the processes of creating a product, putting it through its paces in testing, documenting it, and getting it approved by authorities. The FDA has created stringent restrictions for medical equipment, such as medical tubing, in Title 21 of the CFR (Code of Federal restrictions). Manufacturers must also undergo thorough testing and keep detailed records to prove they are in compliance with these laws. Stricter standards for the certification and CE marking of medical equipment, such as medical tubing, have been implemented by the European Union’s Medical Device Regulation (MDR) and In Vitro Diagnostic Regulation (IVDR). The regulatory procedure is made more difficult by the necessity for manufacturers to demonstrate compliance with fundamental requirements and to undergo clinical examinations. ISO standards, such as ISO 13485 (Quality Management System for Medical Devices) and ISO 14971 (Risk Management for Medical Devices), impose rigorous requirements for quality management, risk assessment, and traceability of medical tubing, compounding the difficulty of complying with regulations.
The time, money, and effort needed to bring a product like medical tubing to market is increased by these regulations. To maintain compliance, manufacturers must implement comprehensive quality management systems, perform exhaustive testing and validation, and successfully negotiate a complicated regulatory landscape. Lack of compliance can reduce market competitiveness and profitability through delayed product releases, product recalls, or penalties.
Silicone tubing is a popular option in the medical tubing market due to its wide range of useful features and uses. Silicone tubing is widely utilised in the medical field, and with good reason; it is biocompatible, flexible, and temperature resistant, making it ideal for a wide range of devices and applications. Medical specialists and medical device makers favour it due to its many benefits, including as biocompatibility, flexibility, temperature resistance, and chemical resistance. Silicone tubing has been, and will continue to be, an important part of the medical tubing industry since it provides secure and dependable options for many different kinds of medical work and patient care. It’s common knowledge that silicone tubing accounts for a sizable chunk of the medical tubing industry’s bottom line. Silicone tubing is expected to account for about 35% of the medical tubing market by revenue in the near future. Tubing made from fluoropolymers, such as polytetrafluoroethylene (PTFE) and fluorinated ethylene propylene (FEP), has superior chemical resistance and reduced friction. It finds widespread application in catheters, implants, and scientific instruments. Due to its unique properties and wide range of medical uses, fluoropolymer tubing commands a sizable share of the medical tubing industry. The market for fluoropolymer tubing is predicted to expand by about 8% annually.
Access Free Sample Copy From https://www.acutemarketreports.com/request-free-sample/139641
Market participants might narrow their focus on certain end-uses, such as bulk disposable tubing, drug delivery systems, catheters, or biopharmaceutical laboratory equipment. In the medical field, each type of application has a certain function. The term “bulk disposable tubing” is used to describe tubing that is purchased in huge numbers but only used once before being thrown away. It has many uses in medicine, particularly in the field of fluid control. The rising need for convenient, sanitary, and reasonably priced disposable medical supplies is a key factor propelling this market. In 2022, the medical tubing market was led by the bulk disposable tubing segment. Medical tubing is utilised in a wide range of biopharmaceutical laboratory apparatus, from chromatography systems and bioreactors to filtration equipment. Tubing that can tolerate strong chemicals and still be considered pure is necessary for these uses. One factor driving demand for medical tubing in this market is the expansion of the biopharmaceutical industry, which in turn drives demand for laboratory equipment. From 2023 to 2031, the medical tubing market is anticipated to grow at a particularly rapid clip in the biopharmaceutical laboratory equipment subsegment.
In 2022, because to the region’s developed healthcare infrastructure, cutting-edge technologies, and sizable customer base, North America dominated the medical tubing market in terms of revenue share. Many of the most important companies in the industry are headquartered there, and cutting-edge medical technology and practises have been rapidly adopted in the region. The United States plays an especially important role in the revenue of this industry. Due to factors such as rising population, rising healthcare expenditure, and expanding healthcare infrastructure, the market for medical tubing in the Asia Pacific region is expanding rapidly. Major contributors to the market expansion in this area include China, India, Japan, and South Korea. The increasing frequency of chronic diseases, improvements in healthcare technology, and the burgeoning medical tourism business are all factors driving demand for medical tubing in the Asia Pacific region.
Several major competitors in the medical tubing industry are constantly competing for market share and looking for ways to improve their products and services. Some of the most well-known companies in this sector include Saint-Gobain Performance Plastics Corporation, Freudenberg Group, TE Connectivity Ltd., Nordson Corporation, and Zeus Industrial Products, Inc. In order to stay ahead of the competition, these businesses are always testing new approaches. In the medical tubing industry, product innovation has emerged as a crucial competitive trend. Market participants invest heavily in R&D to create new tubing materials with improved characteristics like biocompatibility, flexibility, and chemical and contaminant resistance. In order to spur innovation and introduce new items to the market, they invest in cutting-edge technologies and partner with research institutions.
Other Popular reports https://www.acutemarketreports.com/category/medical-devices-market
Companies frequently use mergers and acquisitions as a strategy in the medical tubing business. They hope to increase their offerings, geographic reach, and customer base through mergers and acquisitions. By working together, companies are able to take advantage of synergies, strengthen their market positions, and provide patients with a wider selection of high-quality medical tubing options. Important forms of competition in the medical tubing market include collaboration and partnership. To promote innovation, drive product development, and guarantee regulatory compliance, market participants work together with healthcare providers, research institutes, and other industry stakeholders. Companies can better fulfil the ever-changing demands of the healthcare sector by combining their resources and skills. Many medical tubing manufacturers also aim to grow by penetrating new markets. These businesses are responding to the rising demand in emerging markets by increasing their presence there. They can boost their market position and capitalise on the growing demand for medical tubing by creating a local presence. In the highly competitive medical tubing industry, putting the customer first is essential. Competitors in the healthcare IT market place a premium on learning about their customers’ individual requirements and preferences. To increase client happiness and loyalty, they offer tailored solutions, offer technical assistance, and guarantee timely and dependable service.
Media Contact
Company Name: Acute Market Reports, Inc.
Contact Person: Chris Paul
Email: Send Email
Phone: US/Canada: +1-855-455-8662, India: +91 7755981103
Address:90 Church St, FL 1 #3514, New York, NY 10008, USA
City: New York
State: New York
Country: United States
Website: www.acutemarketreports.com
