Medical Tubing Market by Type – PVC, Polyolefin, TPE & TPU, Silicone, Other, by Application – Bulk Disposable Tubing, Catheters & Cannulas, Drug Delivery Systems, Other. It is published in Valuates Reports under Medical Devices & Equipment Category.
The global Medical Tubing Market was valued at USD 8418 million in 2019 and is expected to reach USD 13770 million by the end of 2026, growing at a CAGR of 7.2% during 2021-2026.
Major factors driving the growth of the Medical Tubing Market are:
- Increasing use in a wide range of minimally invasive critical applications such as cardiovascular catheters, stent delivery systems, urological retrieval devices, and drug delivery is expected to drive the medical tubing market.
- Availability of cost-competitive medical-grade plastics, increasing access to healthcare supplies across the globe, are expected to further propel the medical tubing market.
The shift toward minimally invasive medical procedures is expected to drive the medical tubing market. Minimal invasive medical procedures are becoming more important than traditional surgical procedures, as they provide benefits such as lower costs, faster recovery times, and shorter hospital stays. Furthermore, the rising prevalence of disorders including arthritis, cancer, and cardiovascular disease, all of which require extensive surgical treatment, has boosted the demand for minimally invasive procedures. Plastic polymers, which are suited for use in catheters and medical tubing, have seen an increase in demand as a result of this. Furthermore, medical tubing improves cost efficiency and saves time. As a result, the rising need for minimally invasive medical procedures, as well as the desire to improve the efficiency of these procedures, are boosting demand for medical tubing.
Because of the increased healthcare awareness, and an aging population, the healthcare industry in emerging nations is rapidly evolving, which presents numerous potential for the medical tubing market in the healthcare and medical device industries. The market in emerging countries is expanding primarily due to economic expansion, greater government spending on healthcare facilities, and increased consumer purchasing power. As a result, the medical tubing market is primarily driven by overall growth and increased investment in healthcare infrastructure. InsuranceNewsNet