October 10th, 2022 BRANDESSENCE MARKET RESEARCH Releases
Medical Tubing Market is expected to reach USD 12.28 Billion by 2025 with the CAGR of 9.4% over the forecast period.
Medical tubing is a polymer-based tube produced by an extrusion process and is used in drug delivery systems, peristaltic pumps, feeding tubes and peristaltic pumps, etc. It is mainly used in the medical industry in various pharmaceutical or medical related applications as per requirements and standards. Also, medical tubing is used with anesthesiology and respiratory equipment, IVs and biopharmaceutical laboratory equipment. Medical tubing is made from several types of plastic such as polyethylene, polyvinyl chloride (PVC), thermoplastic elastomers (TPE) nylon and silicone. Among this, PVC is the most popular, accounting for approximately 30 percent of the market. Medical tubing has wide features like resistance to chemical, a good combination of flexibility, low-temperature toughness, oil & solvent, high-temperature capabilities, kink resistance, transparency, other benefits.
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Some of the key players/Manufacturers involved in the Medical Tubing Market are:
Medical Tubing Market Segmentation Analysis:
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Increase in the geriatric population experiencing various treatments involving medical tubing, rise in awareness about advancements in medical facilities, increase in demand for minimally invasive surgeries are the major key drivers for the growth of the global medical tubing market. According to The Department of Economic and Social Affairs of the United Nations, there were 703 million persons aged 65 years or over in the world in 2019. The number of older persons is projected to double to 1.5 billion in 2050. Moreover, the increasing initiative by governments in health care and surge in demand for medical devices that incorporate tubing are majorly responsible for the continuous growth of the global medical tubing market. Therefore, stringent government regulations and high R&D expenditure are the major restrains of the global medical tubing market. However, technological advancements and growing trade of healthcare products between emerging economies may create new opportunities for medical tubing market in forecast period.
Medical Tubing Market Regional Analysis –
North America is expected to dominate the medical tubing market with highest market share due to increasing prevalence of cardiovascular diseases, growing surgical & nonsurgical procedures, advanced health care infrastructure, initiatives by governments to improve the health care infrastructure and focus on research and development activities. According to the American Society for Aesthetic Plastic Surgery (ASAPS), in 2016, Americans spent more than 15 billion dollars on combined surgical and nonsurgical procedures. In 2017 there were approximately 77% of the total expenditures in surgical procedures in 2017 and nonsurgical procedures accounted for 23%. According to the American Heart Association, Coronary heart condition is that the leading cause (45.1 percent) of deaths due to disorder within the US for the year 2017. About 2,200 Americans die of disorder every day, a mean of 1 death every 40 seconds.
Asia Pacific medical tubing market is witnessed with strong growth rate majorly in forecast period due large population rate, growing prevalence of cardiac diseases, Rising individual incomes, growing aging population and rise in diagnostic and pathological laboratories on account of an increase in the incidences of chronic diseases are some of the factors driving market growth in the emerging economies such as China, India. According to report by The United Nations Economic and Social Commission for Asia and the Pacific, the region is experiencing population ageing at an unprecedented pace, with the number of older persons expected to more than double, from 535 million in 2015 to about 1.3 billion by 2050.According to American Heart Association, in 2016, among NH Asians, CVD caused the deaths of 11,023 males and 10,672 females. Moreover, an initiative from the government in adoption of advance technology is helping in expanding the market’s growth in this region.
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