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Medical Tubing Market Size Projected To $11.9 Billion By 2025 With CAGR of 9.2%: Grand View Research, Inc.

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Medical Tubing Market Size Projected To $11.9 Billion By 2025 With CAGR of 9.2%: Grand View Research, Inc.

February 23
16:58 2020
Medical Tubing Market Size Projected To $11.9 Billion By 2025 With CAGR of 9.2%: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report by Grand View Research, Inc. The global medical tubing market size was estimated at USD 6.4 billion in 2018 and is expected to register a revenue-based CAGR of 9.2% over the forecast period. Availability of cost-competitive medical-grade plastics, increasing access to healthcare supplies across the globe, and rising demand for medical devices that incorporate tubing are the primary factors driving the market.

The global medical tubing market size is expected to reach USD 11.9 billion by 2025, expanding at a revenue-based CAGR of 9.2%, according to a new report by Grand View Research, Inc. An increase in health expenditure by individuals and increasing emphasis by the government on healthcare are expected to stimulate market growth over the forecast period.

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U.S. medical tubing market

The fast aging population and increasing number of people looking for high-quality life are expected to offer opportunities to the manufacturers that innovate and produce a diverse range of products. Increasing chronic disease incidences across the globe is further likely to drive product demand for several types of medical devices.

The demand for medical tubes in wound therapy, stent tubes, and implant-grade tubes owing to their cost effectiveness is anticipated to boost market growth. The advent of negative wound therapy wherein plastic tubes are used to remove infectious materials and fluids is expected to further propel product demand over the forecast period.

Further key findings from the report suggest:

  • The demand for PVC tubes is anticipated to reach USD 3.3 billion by 2025 owing to the rising demand for single-use pre-sterilized medical devices which are transparent, biocompatible, and offer high resistance to chemicals

  • The biopharmaceutical laboratory equipment segment is anticipated to witness a CAGR of 10.8% in terms of revenue on account of rising demand for diagnostic equipment in order to detect diseases in the initial stages and mitigate higher treatment costs

  • The silicon segment accounted for 24.2% market share in 2018 in terms of revenue as the product offers flexibility and high tear strength along with improved resistance to temperatures ranging from -750oF to 5000oF

  • Asia Pacific is anticipated to witness a CAGR of 10.6% in terms of revenue over the forecast period owing to rise in advancements in terms of medical device regulations and technologies in countries such as China, Japan, India, and South Korea

  • The manufacturers are investing in R&D activities in order to provide innovative technologies along with acquiring vertical integration strategies to expand and strengthen their presence across the globe.

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Global medical tubing market

Growing consciousness regarding hospital-acquired infections coupled with rising concerns related to the spread of such infections is expected to surge the demand for single-use or disposable healthcare devices. Increasing strategic alliances among the medical device industry players is anticipated to propel the demand for disposables, thereby driving the medical tubing market.

Access complete Medical Tubing Market Report By Grand View research, Inc.

Grand View Research has segmented the global medical tubing market on the basis of product, application, product by application, and region:

Medical Tubing Product Outlook (Volume, Tons; Revenue, USD Million, 2014 – 2025)

  • Silicone

  • Polyolefins

  • Polyvinyl Chloride

  • Polycarbonates

  • Fluoropolymers

  • Others

Medical Tubing Application Outlook (Volume, Tons; Revenue, USD Million, 2014 – 2025)

  • Bulk Disposable Tubing

  • Drug Delivery Systems

  • Catheters

  • Biopharmaceutical Laboratory Equipment

  • Others

Medical Tubing Product by Application Outlook (Volume, Tons; Revenue, USD Million, 2014 – 2025)

  • Silicone

    • Bulk Disposable Tubing

    • Drug Delivery Systems

    • Catheters

    • Biopharmaceutical Laboratory Equipment

    • Others

  • Polyolefins

    • Bulk Disposable Tubing

    • Drug Delivery Systems

    • Catheters

    • Biopharmaceutical Laboratory Equipment

    • Others

  • Polyvinyl Chloride

    • Bulk Disposable Tubing

    • Drug Delivery Systems

    • Catheters

    • Biopharmaceutical Laboratory Equipment

    • Others

  • Polycarbonates

    • Bulk Disposable Tubing

    • Drug Delivery Systems

    • Catheters

    • Biopharmaceutical Laboratory Equipment

    • Others

  • Fluoropolymers

    • Bulk Disposable Tubing

    • Drug Delivery Systems

    • Catheters

    • Biopharmaceutical Laboratory Equipment

    • Others

  • Others

    • Bulk Disposable Tubing

    • Drug Delivery Systems

    • Catheters

    • Biopharmaceutical Laboratory Equipment

    • Others

Medical Tubing Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 – 2025)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Russia

    • Spain

    • Italy

    • Netherlands

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

    • Singapore

    • South Korea

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research Guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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Website: https://www.grandviewresearch.com/industry-analysis/medical-tubing-market