The 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) was valued at US$ 6.92 billion in 2018, and is projected to exhibit a CAGR of 8.4% over the forecast period (2018 – 2026), 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 new launches of products in the market. Hence, launches of new medical tubing is expected to drive the market growth, while the launches of new materials 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 with salient features.
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. Company’s silicone extrusions are typically used for items such as feeding tubes, catheters, and peristaltic pump applications. In addition, during the same period (May 2017), company 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 considered to be the product innovation which will enable surgical procedures more efficient and patient-centric.
In February 2014, Smiths Medical, Inc., a U.S.-based medical device manufacturer, launched its new Bivona FlexTend TTS cuffed tracheostomy tubes for neonates and pediatric patients in healthcare and homecare settings.
Moreover, in 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.
Browse 32 Market Data Tables and 41 Figures spread through 202 Pages and in-depth TOC on ‘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, the Middle East, and Africa) - Global Forecast to 2026’
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Global suppliers of medical tubing solution exhibit its latest products with innovations and developments, in various trade fairs and conferences to market its product to a wide variety of customers in the market.
For instance, in November 2016, Natvar Holdings, Inc.— a manufacturer of medical tubing products and a subsidiary of Tekni-Plex, Inc.— launched iLipopath, a shatter-resistant capillary tube, and a polyethylene/thermoplastic polyurethane insulin delivery tube products at Medica Trade Fair 2016.
Besides the marketing of innovative product portfolio, key players in the market are involved in strategic partnerships and acquisitions, in order to expand its product offerings, and to expand its geographical presence in new regions and to cover untapped market. Such strategic partnerships and acquisitions are expected to create a conducive environment for the market growth in the near future.
For instance, in May 2015, Helix Medical, LLC— a Freudenberg Group company— acquired silicone tubing product line of W. L. Gore & Associates, Inc. With this acquisition, Helix Medical, LLC expanded its portfolio with GORE Silicone Tubing and GORE Reinforced Silicone Hose, and will provide these products to W. L. Gore & Associates, Inc.’s existing customers.
In June 2018, Biesterfeld Plastic GmbH entered in a distribution partnership with BASF SE for the distribution of company’s thermoplastic polyurethane elastomer, Elastollan, in Central, Western, and Southern Europe. Elastollan is a thermoplastic polyurethane elastomer (TPU) with good physical properties and is widely used in medical tubing products.
In August 2015, Qure Medical, a Q Holding Company, d.b.a. company, acquired Silicone Altimex Ltd. Silicone Altimex Ltd. is a manufacturer of silicone tubing. This acquisition allows Qure Medical to use Silicone Altimex’s manufacturing facilities in Europe and enables to grow its overall capacity in pharmaceutical and assembly business, as Silicone Altimex is Europe’s leading independent manufacturers of cleanroom-produced silicone tubing components and assemblies for the pharmaceutical industry.
Key Takeaways of the Medical Tubing Market:
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