Medical Tubing Market

Global Statistics Representing Medical Tubing Market Scenario

Medical tubing is a polymer-based tube produced by the extrusion process and is extensively used in drug delivery systems, feeding tubes, and peristaltic pumps, among others. The tubes are specialized with exceptional thermal, mechanical, and chemical properties that are used in a wide range of minimally critical invasive applications, including stent delivery systems, cardiovascular catheters, and urological retrieval devices. Moreover, medical tubing is also used with anesthesiology and respiratory equipment, IVs, and biopharmaceutical laboratory equipment. The manufacturing and usage of the products are guarded by the requirement of various certifications and standard procedures to assure optimum safety.

As per the American Society for Aesthetic Plastic surgery (ASAPS), in 2016, about 56% and 44% of the total global expenditure was invested in the surgical and non-surgical procedures, respectively, which is further boosting the market growth.  All of the above-mentioned factors indicate the rapidly rising healthcare expenditure across the globe, which is further offering lucrative opportunities to the new entrants in the market. Other factors driving the market growth include the rapid surge in the geriatric population, increasing awareness about advancements in medical facilities, rising involvement and initiatives from the government, and high demand for medical tubing and devices.

The global medical tubing market was valued at USD 8,043 million in 2018 and is expected to grow at a CAGR 8.7% during the forecast period.

Market Dynamics

Drivers: Paradigm Shift towards Minimal Invasive Medical Procedure

Globally, the minimally invasive medical procedure has been gaining huge popularity as it offers umpteen benefits, including fewer hospital stays, quick recovery time, and low cost of treatment. Moreover, the rising prevalence of diseases, such as cardiovascular diseases, arthritis, and cancer is subsequently increasing the demand for a minimally invasive medical procedure as the treatment of the diseases is complex and requires extensive precision, which is further boosting the demand for catheters and medical tubing in the healthcare industry. Additionally, medical tubing possesses the high potential and is cost-efficient, which is why it is witnessing huge demand in hospitals and clinics.

Market Opportunity: High Initial Investments in Healthcare Sector

In the last few years, the global healthcare sector has been witnessing a considerable growth on account of the rising flow of FDI, favorable reimbursement policies, and growing expenditure by public and private players. As per the Department of Industrial Policy and Promotion (DIPP), during 2000–2019, the hospital and diagnostic centers received about USD 6.34 billion of Foreign Direct Investments (FDI). In January 2019, Bhilai Scan and Research Pvt Ltd (BSR) Diagnostics Ltd acquired Tri-County Premier Hearing Services Inc. for USD 9.29 million, and the acquisition was approved by the National Company Law Tribunal (NCLT).

Segmental Insights

The global medical tubing market is segmented into material, product, and application.

By material, the medical tubing market is segmented into silicone, polyvinyl chloride, polyolefins, polycarbonates, fluoropolymers, and others.  

Polyvinyl Chloride Will Have an Upper Hand in the Market

Polyvinyl chloride (PVC) is a thermoplastic material, which is widely used for the manufacturing of medical tubes.  It is also used for the manufacturing of blood bags and other non-breakable containers. The PVC bags are soft, flexible, noiseless, and prevents odor from escaping, which is why it is extensively used for the manufacturing of medical devices.

Silicone to grab the largest share in the Medical Tubing Market

Silicone is grabbing the largest shares in the medical tubing market due to its flexibility, surface hardness, potential to resist chemicals and solvents, potential to handle extreme temperatures, high tear, and tensile strength. The product is resistant to several environmental factors, including UV radiation, chemicals, and x-ray temperatures. Lastly, the surge in demand for application-specific medical and diagnostic equipment is driving the demand for silicone tube, which is further boosting the market growth.

Polyolefins Multitude Application

Polyolefins are used in a wide range of application in the healthcare industry as it improves biocompatibility and is resistant to chemical properties. It is also extensively used in the manufacturing of medical-grade heat shrink tubing due to its remarkable mechanical endurance, which is best suited for strain relief, stiffening, and electric-insulation properties.

Catheters to Dominate the Market

By application, the market of medical tubing is segmented into drug delivery systems, catheters, biopharmaceutical laboratory equipment, disposable tubing, and others.

The catheters segment is dominating the global medical tubing market and is anticipated to continue the same during the forecast period. Medical tubes are extensively used in a variety of catheters in a number of procedures, including angiography, electrophysiology (EP) ablation, and urinary catheters. The segment is majorly driven by the presence of leading market players that are actively working to accelerate the wheel of innovation in the field. For instance, on 3^rd April 2017, Nordson Corporation acquired Vention Medical’s Advanced Technologies, a pioneer for designing, developing, and producing minimally sized catheters and advanced components for the medical technology market across the globe.

Medical Tubing Trends

Drug Delivery Systems

Rapid innovation in the drug delivery system is increasing the demand for customizable tubes and innovative techniques, such as intracochlear and photo-thermal drug delivery, further driving the market growth. Similarly, rising innovation in the field of Nanotechnology is opening new gateways for drug delivery systems. Lastly, the ongoing research activities for enhancing targeted intracellular delivery for the diagnosis and treatment of brain diseases are driving market growth.

Regionally, the medical tubing market is segmented into the Americas, Europe, Asia Pacific, and The Middle East and Africa (MEA)

North America to Lead the Market

North America is leading the medical tubing market. The region is backed with the presence of advanced healthcare infrastructure, government support, and leading market players that are performing extensive research activities to develop innovative products and are engaging in several mergers and acquisitions for the same. The U.S. is dominating the regional market on account of rising healthcare expenditure, robust healthcare facilities, technological advancements, huge patient pool, and rising investments by the market players.  The country offers a wide variety of polymer for the manufacturing of medical tubing, which includes vinyl compounds, thermoplastic urethanes, polyolefins, and polyamides. As per the International Trade Administration, the U.S. accounted for about 39.9% of the market share in 2015, which is about USD 140 billion.  

Europe to be Second in the Market

Europe is second in the medical tubing market and will continue the same during the forecast period. The region is grabbing about 29.8% of the market share, and the number is expected to surge in the coming years. This can be attributed to the expanding healthcare infrastructure, development of innovative technology, increasing research activities, increasing prevalence of chronic diseases, and rising geriatric population. The U.K, Russia, France, and Germany are some of the major contributors to the medical tubing market.  However, the stringent rules imposed by the European Commission and Member States Health Authorities for the manufacturing of medical tubing are hampering the market growth to some extent. Besides, Europe is a major healthcare exporter to the U.S. and accounts for about 38% of the overall export market.

APAC to Grab the Largest Market Share

APAC is grabbing the largest share in the global medical tubing market on account of the rising geriatric population, expanding the healthcare sector, huge patient pool, growing government support, ad raising awareness regarding health and wellness. The leading players in the region are actively working to develop cost-effective medical tubing solutions to attend to the rising patient pool, which is further boosting the market growth. For instance, on 28^th August 2017, Tekni-Plex Inc. established a new manufacturing site in China to address the growing demand for the pharmaceutical and medical devices. The new facility is equipped with robust technology, which manufactures Natvar’s silicone extrusion tubing, feeding tubes, catheters, and peristaltic pump applications. For the record, Natvar is a global supplier of precision medical tubing solutions for the company.

Key Players

Competitive Landscape: Market Moving Towards Consolidation

The global medical tubing market is fragmented in nature. Several large and small-scale players are focusing on price, brand, and new product development to expand their consumer base. Some of the key players are engaging in acquisitions, collaborations, and partnerships to gain a competitive edge.  For instance, in 2017, Zeus Industrial Products introduced a new TFE Sub-Lite-Wall Streamliner series featuring an outstanding wall thickness of about 0.00075” (0.01905 mm). Similarly, in 2018, Nordson Corporation established new manufacturing facilities in Orangeburg County, Aiken County, and Calhoun County with a strong investment of USD 15.9 million, USD 15.7 million, and USD 76.0 million, respectively. Lastly, in 2017, Nordson Corporation acquired Medical Advances Technology for manufacturing and designing medical devices, medical tubing, and catheters. The market is consolidated with the presence of Zeus Industrial Products (U.S.), Lubrizol Corporation (Vesta) (US), Saint-Gobain Performance Plastics (France), Putnam Plastics (U.S.), Tekni-Plex (U.S.), Teleflex (U.S.), Optinova (U.S.), Nordson Corporation (U.S.), RAUMEDIC AG (Germany), and W. L. Gore & Associates (U.S.)

Our Report Covers

• Historical inferences, findings & analysis of the market from 2017–2019
• Projections and performance forecast analysis for the future from 2020–2029
• Cost-Effective Analysis
• Market drivers, restraint and opportunity analysis, to define market dynamics covering industry, regulatory, innovation, technological & pricing trends
• Comprehensive competitive landscape mapping with recent development covering market leadership, competency, sustainability, and prospects

Medical Tubing Market Segmentation

By Material

• Silicone
• Polyvinyl Chloride
• Polyolefins
• Polycarbonates
• Fluoropolymers
• Others

By Application

• Drug Delivery Systems
• Catheters
• Biopharmaceutical Laboratory Equipment
• Disposable Tubing
• Others

By Region

• Americas
• Europe
• Asia-Pacific
• MEA