Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The Global Medical Tubing Market, by Material (Polyvinyl Chloride (PVC), Thermoplastic Elastomer (TPE), Thermoplastic Polyurethane (TPU), Silicone, Polyolefins (Polyethylene (PE), and Polypropylene (PP)), and Others), by Application (Peristaltic Pump Tubing, Catheters (Diagnostic Catheters, Central Venous Catheters, Angioplasty Catheters, and Other Catheters), Feeding Tubes, Urological Retrieval Devices, Cannulas, and Other Applications), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 6.92 billion in 2018 and is expected to exhibit a CAGR of 8.4% over the forecast period (2018-2026), as highlighted in a new report published by Coherent Market Insights.
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Several market players are engaged in manufacturing of medical tubing and its materials, and are focusing on launching new products in the market. Therefore, increasing launches of new medical tubing, by key players are expected to drive the market growth over the forecast period. For instance, Natvar Holdings, Inc., a company of Tekni-Plex, Inc., launched silicone extrusion tubing, globally in May 2017. The company’s silicone extrusions have applications in items such as feeding tubes, catheters, and peristaltic pump applications. Moreover, in May 2017, Natvar Holdings, Inc. launched a new tight-tolerance microextrusion medical tubing product line, which is manufactured using thermoplastics and other highly-engineered materials for neurovascular and surgical applications. This new microextrusion tubing considered to be the product innovation, which resulted surgical procedures to be more efficient and patient-centric. Similarly, in February 2014, Smiths Medical, Inc., a U.S.-based medical device manufacturer launched Bivona FlexTend TTS cuffed tracheostomy tubes for neonates and pediatric patients in healthcare and homecare settings. Moreover, Colorite Polymers, a subsidiary of Tekni-Plex, Inc. launched its new Cellene line of thermoplastic elastomer compounds in North America for medical device applications, in 2017. Cellene was launched as an alternative to PVC, phthalate-based plasticized compounds, and various other rubber materials.
Browse 32 Market Data Tables and 41 Figures spread through 202 Pages and in-depth TOC on ‘Medical Tubing Market, by Material (Polyvinyl Chloride (PVC), Thermoplastic Elastomer (TPE), Thermoplastic Polyurethane (TPU), Silicone, Polyolefins (Polyethylene (PE), and Polypropylene (PP)), and Others), by Application (Peristaltic Pump Tubing, Catheters (Diagnostic Catheters, Central Venous Catheters, Angioplasty Catheters and Other Catheters), Feeding Tubes, Urological Retrieval Devices, Cannulas and Other Applications), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) – Global Forecast to 2026’
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Major players in the market are focusing on participating in several trade fairs and conferences, in order to showcase their latest products with innovations and developments and to expand their consumer base, globally. For instance, in November 2016, Natvar Holdings, Inc., a manufacturer of medical tubing products and a subsidiary of Tekni-Plex, Inc. launched iLipopath, a shatter-resistant capillary tube, and a polyethylene/thermoplastic polyurethane insulin delivery tube products at Medica Trade Fair 2016.
Market players are also focusing on strategic partnerships and acquisitions, in order to expand their product offerings, geographical presence, and to cover untapped market, which are expected to drive growth of the market over the forecast period. For instance, Helix Medical, LLC, a Freudenberg Group company acquired silicone tubing product line of W. L. Gore & Associates, Inc, in May 2015. Under this acquisition, Helix Medical, LLC expanded its portfolio with GORE Silicone Tubing and GORE Reinforced Silicone Hose, and will offer these products to W. L. Gore & Associates, Inc.’s existing customers. Similarly, in June 2018, Biesterfeld Plastic GmbH entered into a distribution partnership with BASF SE for the distribution of company’s thermoplastic polyurethane elastomer, Elastollan in Central, Western, and Southern Europe. Elastollan is a thermoplastic polyurethane elastomer (TPU) with good physical properties and is widely adopted in medical tubing products.
Furthermore, in August 2015, Qure Medical, a Q Holding Company, d.b.a. company acquired Silicone Altimex Ltd, a manufacturer of silicone tubing. This acquisition allowed Qure Medical to use Silicone Altimex’s manufacturing facilities in Europe and allows to increase its overall capacity in pharmaceutical and assembly business, as Silicone Altimex is Europe’s leading independent manufacturers of cleanroom-produced silicone tubing components and assemblies for the pharmaceutical industry.
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Key Takeaways of the Medical Tubing Market:
- The global medical tubing market is expected to exhibit a CAGR of 8.4% over the forecast period, attributed to increasing focus of various key players in launching innovative products to compliment product adoption and market expansion
- Among material type, polyolefins are widely utilized in medical tubing solutions, as polyolefin offers good biocompatibility, chemical resistance, and lubricity, and more preferred compared to traditional materials
- Among application, medical tubing is widely used for catheter manufacturing. Medical tubing has applications in various high-end diagnostics and therapeutic catheters, such as high-pressure tubing, angioplasty balloon catheters, stent delivery catheters, and various other balloon tubing. Rising adoption of medical tubing for manufacturing catheters is attributed to higher efficiency to provide mechanical, physical, chemical, electrical, or thermal properties, which are critical to the functioning of the finished medical device, and this is expected to drive the market growth over the forecast period.
- Key players operating in the global medical tubing market include 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., among others
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