Medical Tubing Market to Surpass US$ 18,455.7 Mn by 2030 - Coherent Market Insights

Global Medical Tubing Market, by Material (Polyvinyl Chloride (PVC)), Thermoplastic Elastomer (TPE), Thermoplastic Polyurethane (TPU), Silicone, Polyolefins (Polyethylene (PE), and Polypropylene (PP)), and Others), by Application (Peristaltic Pump Tubing, Catheters (Diagnostic Catheters, Central Venous Catheters, Angioplasty Catheters, and Other Catheters), Feeding Tubes, Urological Retrieval Devices, Cannulas, and Other Applications), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 1,444.7 Million in 2022 and is expected to exhibit a CAGR of 8.6% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.

Various key players involved in manufacturing of medical tubing and its materials are focusing on launching products in the market. Thus, increasing launches of new medical tubing is expected to drive the market growth, while the launches of new materials for manufacturing medical tubes is expected to increase availability of new tubing for development of good quality medical tubes and also enhance chances for development of novel medical tubing.  For instance, in May 2017, Natvar Holdings, Inc., a company of Tekni-Plex, Inc., expanded its medical tubing product portfolio with the launch of silicone extrusion tubing, globally. The company’s silicone extrusions are typically used for feeding tubes, catheters, and peristaltic pump applications. In addition, during the same period (May 2017), Natvar Holdings, Inc., a company of Tekni-Plex, Inc launched a new tight-tolerance microextrusion medical tubing product line, made from thermoplastics and other highly-engineered materials for neurovascular and surgical applications. This new microextrusion tubing is considered to be the product innovation, which will enable surgical procedures more efficient and patient-centric. 

Global Medical Tubing Market – Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.

However, the COVID-19 pandemic had a positive impact on the global medical tubing market, owing to increasing demand of respiratory devices such as oxygen concentrators, nebulizers which have medical tube to facilitate passage of oxygen to delivery site, due to possible association of respiratory diseases with the COVID-19 infection. For instance, in April 2020, according to data published by the National Center for Biotechnology Information, coronavirus is mainly associated with the lungs and respiratory tract disorder, due to increasing cases of covid-19 the non‐invasive options like oxygen concentrators, nebulizers were present   to support COVID‐19 patients with mild or moderate respiratory distress and may reduce the numbers of patients requiring intubation, mechanical ventilation. Selection of respiratory support for patients affected by COVID‐19 must balance the clinical benefit of the intervention against the risks of nosocomial spread.

Moreover, in December 2020, according to data published by the World Health Organization, oxygen therapy is recommended by the World Health Organization (WHO) and Centers for Disease Control and Prevention (CDC) as the first‐line therapy for treating COVID‐19‐induced respiratory distress and hypoxia. Supplemental oxygen by nasal cannula provides up to about 5–6 L/min of flow increasing fraction of inspired oxygen (FiO2) to approximately 45%. The actual FiO2 may be variable depending on the patient's inspiratory peak flow. High flow nasal oxygen (HFNO) includes high flow nasal cannula and high velocity nasal insufflation.             

Global Medical Tubing Market: Key Developments

In August 2021, Davis Standard, a company that designs, develops, and distributes extrusion and converting technology, launched its upgraded MEDD extruder design for medical tubing applications. MEDD is Davis-Standard’s signature extruder for tight-tolerance medical tubing applications including microbore, multi-lumen, and catheter tubing.

Moreover, in January 2021, Boston Scientific Corporation, a manufacturer of medical devices used in interventional medical specialties, including interventional radiology launched a new product EndoVive Low Profile Button kits with ENFit, design may help reduce the risk of accidental pull-out that helps to reduce the risk of accidental pull-out gastrointestinal tract (Gastrointestinal injury of the stomach, small bowel, colon, or rectum can be due to blunt or penetrating trauma). The low profile design and flexibility at the skin level may help support patient comfort and discretion. Radiopaque silicone designed of EndoVive Low Profile Button to enhance placement confirmation and inserted through an existing stoma tract. Kit includes accessories designed to allow for gastric decompression.

Browse 32 Market Data Tables and 41 Figures spread through 202 Pages and in-depth TOC on “Global Medical Tubing Market ”-  Forecast to 2030, Global Medical Tubing Market, by Material (Polyvinyl Chloride (PVC)), Thermoplastic Elastomer (TPE), Thermoplastic Polyurethane (TPU), Silicone, Polyolefins (Polyethylene (PE), and Polypropylene (PP)), and Others), by Application (Peristaltic Pump Tubing, Catheters (Diagnostic Catheters, Central Venous Catheters, Angioplasty Catheters, and Other Catheters), Feeding Tubes, Urological Retrieval Devices, Cannulas, and Other Applications), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

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https://www.coherentmarketinsights.com/market-insight/medical-tubing-market-1643

Moreover, key players involved in the manufacturing of medical tubing and its materials are focusing on new launches of products in the market. For instance, in February 2017, Colorite Polymers, a subsidiary of Tekni-Plex, Inc., launched its new Cellene line of thermoplastic elastomer compounds in North America for medical device applications. Cellene was launched as an alternative to PVC, phthalate-based plasticized compounds, and various rubber materials.

Key Takeaways of the Global Medical Tubing Market:

• The global medical tubing market is expected to exhibit a CAGR of 8.6% during the forecast period due to increasing adoption of inorganic strategies by key players such as agreements and collaboration for developing new products. For instance, in June 5, 2022, Orchestra BioMed, Inc., a biomedical innovation company focused on developing transformative therapeutic products announced agreements with Medtronic, a U.S.-based medical device company, for developing new therapy. The global strategic collaboration will progress the development of Orchestra BioMed’s BackBeat Cardiac Neuromodulation Therapy (CNT) as a potential treatment for hypertension in patients, who are indicated for a cardiac pacemaker.
• Among material type, polyolefins are widely used in medical tubing solutions, as polyolefin offer good biocompatibility, chemical resistance, and lubricity, and are more preferred than traditional materials like plastic, stainless steel etc. more prone to cause infections.
• Among regions, North America is estimated to account for the largest market share in the global medical tubing market over the forecast period, owing to increasing collaboration of key players to optimize new product development. For instance, in November 2021, Saint-Gobain Life Sciences, a company that designs, manufactures, and distributes materials and solutions along with material science collaborated with denovoMATRIX, an extracellular matrix engineering company that enables the acceleration of cell-based therapies and development in stem cell research, for optimizing the performance of new products in development for adherent cell culture and harvest for autologous therapies which will increase the use of medical tubes for cell-based therapies.
• Major players operating in the global medical tubing market include Compagnie de Saint-Gobain S.A., Teleflex Incorporated, Optinova Holding AB, Zeus Industrial Products, Inc., The Lubrizol Corporation, Nordson Corporation, Putnam Plastics Corporation, Raumedic AG, Tekni-Plex, Inc., and Smith Group plc.