The global medical tubing market, valued at USD 13.1 billion in 2023, is set to grow steadily at a compound annual growth rate (CAGR) of 6.0% through 2033, according to Future Market Insights (FMI). This expansion will elevate the market to a valuation of approximately USD 23.5 billion by the end of the forecast period.
Rising demand for advanced medical devices, minimally invasive procedures, and growing healthcare needs globally are driving the medical tubing market’s growth. The industry is also poised to create an absolute dollar opportunity of USD 10.4 billion between 2023 and 2033, reflecting significant opportunities for manufacturers and suppliers.
With the market valued at USD12.2 billion in 2022, the continued demand for durable and biocompatible tubing materials in applications such as catheters, drug delivery systems, and diagnostic devices underscores the sector’s importance in modern healthcare.
A Full Report Overview – https://www.futuremarketinsights.com/reports/medical-tubing-market
Key Takeaways:
- The global medical tubing market is projected to grow from USD 13.1 billion in 2023 to USD 23.5 billion by 2033, at a 6.0% CAGR.
- An absolute dollar opportunity of USD 10.4 billion is expected to be created during the 2023–2033 forecast period.
- Rising demand for minimally invasive procedures and advanced medical devices fuels market expansion.
- Biocompatible and durable tubing materials remain critical for various healthcare applications, including catheters and drug delivery systems.
Market Drivers
- Growing Demand for Minimally Invasive Surgeries: The rise in minimally invasive procedures is increasing the need for advanced medical tubing solutions.
- Technological Advancements: Continuous innovations in medical tubing materials and designs are enhancing their performance and safety, driving market growth.
- Rising Healthcare Expenditures: Increased spending on healthcare, especially in emerging economies, is contributing to the demand for medical devices that incorporate advanced tubing.
- Aging Population: The growing elderly population, which often requires more medical care, is boosting the demand for medical tubing in various applications.
- Increased Prevalence of Chronic Diseases: The rise in chronic conditions necessitates the use of medical tubing in treatment and management, further propelling market growth.
Regional Insights
- North America is expected to dominate the market due to its advanced healthcare infrastructure and significant investments in medical technology.
- East Asia is also anticipated to play a crucial role, collectively accounting for more than half of the global sales by the end of 2033.
Product Insights
- The segment for bulk disposable tubing is expected to lead the market, driven by a focus on preventing infections through single-use products.
- The DNA extraction and purification kits segment is projected to register rapid growth, highlighting the increasing demand for customizable solutions in drug delivery systems and other applications.
Competitive Landscape
Leading medical tubing manufacturers are exploring international markets to tap into growing healthcare sectors around the world. By expanding their reach beyond their home markets, they can reach new opportunities for growth and broaden their customer base.
Collaboration with other healthcare sector participants is on the rise, including hospitals, research institutions, and producers of medical devices. Manufacturers can learn about new demands and trends by collaborating and co-developing creative solutions. This might also help in ensuring that their products seamlessly interface with other medical devices.
Medical tubing producers are integrating sustainable principles into their business models as environmental concerns rise. This entails the use of environmentally friendly materials, reduction of waste during production, and design of goods that can be recycled properly. Sustainability efforts not only support global environmental goals but also enhance a company’s standing in the marketplace.
For instance:
- In July 2022, at the Cooper River Site in South Carolina, DuPont opened a new production facility for DuPont Liveo Healthcare Solutions. In order to accommodate growing demand from Liveo clients, the new plant will boost its ability to cater to biopharmaceutical tubing extrusion.
- In May 2022, HelixFlex, an exceptionally pure thermoplastic elastomer TPE tubing, was launched by Freudenberg Medical. It is a renowned producer of healthcare and pharmacological devices, components, and tubing. The new product was developed for utilization in medicinal and biopharmaceutical applications.
Key Companies Profiled
Asahi Tec Corp.; MDC Industries; Nordson Corp.; ZARYS International Group; Hitachi Cable America, Inc.
Medical Tubing Market Outlook by Category
By Product:
- Silicone
- Polyolefins
- Polyimide
- Polyvinyl Chloride
- Polycarbonates
- Fluoropolymers
- Polytetrafluoroethylene (PTFE)
- Fluorinated Ethylene Propylene (FEP)
- Others
By Application:
- Bulk Disposable Tubing
- Drug Delivery Systems
- Catheters
- Biopharmaceutical Laboratory Equipment
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
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Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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