by The Australia medical tubing market is witnessing increased demand with integration of IoT technology. Medical tubing is used in various medical devices for fluid and gas handling. Tubes made of plastic such as PVC, TPE, and silicone are widely used in equipment such as ventilators, oxygen masks, IV sets, and respiratory devices. Medical tubing offers advantages such as flexibility, durability, kink resistance and compatibility with fluids including saline, medicines, blood and gases.
Australia Medical Tubing Market is estimated to be valued at US$ 599.47 Mn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Australia medical tubing are Abbott, Dexcom, Inc., Medtronic, Senseonics, Inc., F. Hoffmann-La Roche Ltd., GLUCOVATION, INC., Nemaura Medical Inc., GlySens, GlucoModicum, and Signos, Inc. The growing prevalence of chronic diseases and rising geriatric population requiring medical devices is driving the demand for medical tubing in Australia. The key players are expanding their presence globally with innovative product launches and collaborations with local companies.
Growing demand: The increasing incidence of lifestyle diseases such as diabetes and cardiac issues is augmenting the demand for medical devices integrated with medical tubing in Australia. As per estimates, over 1 million Australians are diagnosed with diabetes requiring continuous glucose monitoring devices and insulin pumps and tubing sets.
Global expansion: The key players in the Australia medical tubing market are expanding globally by opening manufacturing plants in countries with growing medical devices markets. For instance, Abbott has manufacturing plants across Australia, China, Puerto Rico and Ireland to cater to the global demand.
Market Key Trends
Integration of IoT technology: One of the key trends witnessed in the Australia medical tubing market is growing integration of IoT sensors and wireless technology. Tubing sets are being integrated with sensors to transmit vital health data via mobile apps for remote monitoring. This is enabling to improve patient outcomes through continuous monitoring.
Porter’s Analysis
Threat of new entrants: Medical tubing requires significant capital investment to manufacture at scale. Regulatory hurdles for new players also act as a deterrent.
Bargaining power of buyers: Large hospital networks and healthcare providers have significant bargaining power due to their scale and ability to demand lower prices from suppliers.
Bargaining power of suppliers: There are a few large suppliers that dominate the market. However, their impact is balanced by the availability of substitutable raw materials.
Threat of new substitutes: Though alternative drug delivery methods exist, tubing is still considered the most cost-effective and safe option for transferring fluids, nutrition and medications.
Competitive rivalry: The market comprises many global and local players. Competition is based on product differentiation, innovative solutions and price.
Geographical Regions
The Australia medical tubing market is concentrated in New South Wales, Victoria and Queensland due to the high population and healthcare spending in these regions. Major cities like Sydney, Melbourne and Brisbane account for over 60% of the national market value.
The northern territories in Australia are expected to be the fastest growing geographical region for medical tubing between 2024-2031. This is due to infrastructure investments aimed at improving rural healthcare access through initiatives like the Aboriginal Health in Remote and Rural Areas program.
What Are The Key Data Covered In This Australia Medical Tubing Market Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Australia Medical Tubing Market’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Australia Medical Tubing Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Australia Medical Tubing Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Australia Medical Tubing Market vendors
FAQ’s
Q.1 What are the main factors influencing the Australia Medical Tubing Market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Australia Medical Tubing Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Australia Medical Tubing Market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Alice Mutum
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. LinkedIn
