by 
The medical tubing market involves manufacturing a wide range of plastic and rubber tubing used extensively across various medical applications such as drug delivery, catheter tubes, drain tubes, stent delivery systems and many more. Medical tubing provides reliable fluid transmission for sensitive healthcare procedures while ensuring biocompatibility, flexibility and kink resistance. The tubing comes in custom sizes and designs depending on the exact needs. They aid in procedures like oxygen therapy, urinary drainage, IV medication and fluid administration. Frequently used plastics for medical tubing include PVC, TPE and silicone while production involves extrusion and other methods. The need for advanced healthcare and improved outcomes has boosted investments and demand for medical devices, consequently driving the medical tubing industry.
The global Medical Tubing Market is estimated to be valued at US$ 9,550.5 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends witnessed in the medical tubing industry is the shift towards miniature tubing sizes. As medical technology progresses towards minimally invasive procedures and compact devices, there is increasing need for very small diameter tubing as small as 0.1mm. Companies are investing in microextrusion and other specialized manufacturing techniques to develop advanced miniaturized tubing. Another significant trend is the use of newer polymer formulations for specific applications. For example, thermoplastic polyurethanes are gaining popularity for drug delivery devices due to properties like flexibility and puncture resistance. Growing chronic diseases also motivate development of innovative tubing designs for specialized therapies around oncology, cardiology etc. Overall, continuous R&D focusing on advanced materials, customization and minimal invasiveness will reshape the medical tubing industry dynamics.
Porter’s Analysis
Threat of new entrants: The medical tubing market has moderate threat of new entrants due to the high capital requirement for manufacturing processes and infrastructure.
Bargaining power of buyers: Buyers have moderate bargaining power due to the presence of multiple vendors providing medical tubing products.
Bargaining power of suppliers: A few key players dominate the supply market, giving them higher bargaining power over buyers.
Threat of new substitutes: There exists low threat of substitutes as medical tubing has few close substitutes and switching costs are high.
Competitive rivalry: The market sees high competition due to the presence of numerous regional and international players striving to increase market share.
Key Takeaways
The global medical tubing market is expected to witness high growth. The rising prevalence of chronic diseases and growth in medical devices industry will drive the demand for medical tubing during the forecast period.
Regional analysis – North America dominates the global medical tubing market and is expected to continue its dominance owing to the high healthcare expenditures and presence of key players. The Asia Pacific region is expected to grow at the fastest pace due to growing healthcare industry, rising medical tourism, and increasing expenditure on healthcare.
Key players – Key players operating in the medical tubing market are 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. The global market for medical tubing is consolidated in nature with few international players dominating the market. Players are focusing on new product launches and expansion strategies to strengthen their market position.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
