The global medical tubing market is estimated to occupy a large revenue by growing at a CAGR of ~9% during the forecast period, i.e., 2022 – 2030, owing to the escalating demand for catheters and cannulas in hospitals worldwide, and rising availability of cost-competitive medical-grade plastics across the globe. Apart from these, growing consumer access to healthcare facilities is also expected to drive market growth in the coming years.
Research Nester published a report titled “Medical Tubing Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global medical tubing market in terms of market segmentation by material, application, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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The global medical tubing market is segmented by material, application and end user. Based on material, the PVC segment is anticipated to grab the largest market share during the forecast period on the back of high availability of PVC to meet varied requirements of healthcare industry. Additionally, by application, the drug delivery systems segment is projected to witness the highest growth over the forecast period ascribing to the rise in disposable income and purchasing power of people.
Geographically, the market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America is evaluated to grab the largest share in the market during the forecast period attributing to the high healthcare spending in the region. Moreover, the market in Asia Pacific is assessed to witness noteworthy growth rate in the future owing to the increasing medical tubing in India and China.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Rising Availability of Cost-Competitive Medical-Grade Plastics Globally to Expand Market
Since the last two decades, the availability of good quality and clean sterile products at highly economical prices is increasing, owing to the growing budget constraints in healthcare facilities all around the world. In addition, as surgical medical procedures are an integral part of healthcare industries, the demand for medical tubing is expected to rise, which in turn is projected to drive market growth in the future.
However, high investments needed for product development are expected to operate as key restraint to the growth of the global medical tubing market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global medical tubing market which includes company profiling of Nordson Corporation, NewAge Industries, Inc., TE Connectivity Ltd., Freudenberg and Co. KG., RAUMEDIC AG, Lubrizol Corporation, W. L. Gore & Associates, Inc., Vention Medical, Inc., Teknor Apex Company, Freudenberg Medical, LLC, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global medical tubing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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