Global Medical Grade Tubing Market 2024

Global Medical Grade Tubing Market 2024

Medical grade tubing is a specialized product that serves various applications in the healthcare industry, enabling clinicians to perform essential tasks such as using medical catheters, IV sets, irrigation, drainage, and intravenous (IV) delivery.

The market for multi-lumen tubing, which consists of tubing with multiple channels called lumens, is estimated to be worth USD 4.1 billion in 2023. It is projected to reach USD 5.3 billion by 2029, growing at a CAGR of 3.7% during the forecast period. Multi-lumen tubing provides a structure with multiple channels within a single tube. The configuration of the tubing depends on the diameter of the outer wall, and different lumens can be extruded accordingly. This type of tubing is used in applications where multiple mediums need to be transported simultaneously.

The fastest-growing segments in the medical grade tubing market are bulk disposable tubing, drug delivery, and catheters. Catheters are widely used in various medical procedures, including minimally invasive surgeries. The bulk disposable tubing market is estimated to be worth USD 1175 million in 2023 and is expected to reach USD 1485 million by 2029, growing at a CAGR of 3.4% during the forecast period. Bulk disposable tubing refers to single-use tubing that can be discarded after use, eliminating the need for sterilization and reuse. It is utilized in drug delivery systems, dialysis, laboratory disposable equipment, blood transfusion bags, IV infusion tubing, and other applications, helping to prevent the spread of infections and diseases.

The medical segment, which includes hospitals and surgical centers, is the major end-user in the global medical grade tubing market. In 2023, this segment was valued at $3.9 billion and is expected to reach $5.0 billion by the end of 2029, with a CAGR of 3.6% during the forecast period. Medical grade tubing is extensively used in drug delivery and other medical applications to meet regulatory requirements and standards. Its flexibility and resistance make it suitable for use in hospitals worldwide. The growing aging population and the increasing prevalence of chronic diseases are driving rapid growth in the medical and healthcare industry.

In the North America region, the market for medical grade tubing is estimated to be worth USD 1.8 billion in 2023 and is expected to reach USD 2.2 billion by 2029, with a CAGR of 3.4% during the forecast period. North America has one of the most technologically advanced healthcare systems globally and is home to numerous established medical grade tubing manufacturers. The presence of these companies is a key driver of growth in the region, which includes the United States, Canada, and Mexico.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the product, material, application, end user, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

The global baby bottle market has been extensively analyzed by categorizing it according to various sub-segments in order to provide accurate forecasts of industry size and assess trends within specific areas.

The global market for medical grade tubing can be segmented by product: single lumen tubing, multi-lumen tubing. Multi-lumen tubing was the largest revenue contributor to the global medical grade tubing market, representing 85.4% of the market in 2023. During the forecast period, the multi-lumen tubing segment is projected to witness the highest growth rate.

Medical grade tubing market is further segmented by material: fluoropolymers, polyolefins, polyvinyl chloride (PVC), silicone, thermoplastic elastomers, others. Globally, the polyvinyl chloride (PVC) segment made up the largest share of the medical grade tubing market.

Based on application, the medical grade tubing market is segmented into: abrasion protection, drug delivery, bulk disposable tubing, catheters, others. Bulk disposable tubing was the highest contributor to the global medical grade tubing market, with 24.3% share in 2023. Going forward, the others segment is projected to witness the highest CAGR during the forecast period.

On the basis of end user, the medical grade tubing market also can be divided into: pharmaceutical, medical, others. The medical segment is estimated to account for the largest share of the global medical grade tubing market, accounting for more than 81.1% of the total market.

Medical grade tubing market by region is categorized into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. North America was the highest contributor to the global medical grade tubing market, with 36.7% share in 2023. Going forward, Asia-Pacific is projected to witness the highest CAGR during the forecast period.

The global medical grade tubing market report offers detailed information on several market vendors, including Asahi Tec Corporation, B. Braun Melsungen AG, Berkshire Hathaway, Compagnie de Saint-Gobain S.A., Cook Group Incorporated, Freudenberg Medical, LLC, Nordson Corporation, Optinova Group, Spectrum Plastic Group, TE Connectivity Ltd., Tekni-Plex, Inc., Teleflex Incorporated, Trelleborg Group, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

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Market Segments Covered in Global Medical Grade Tubing Industry Analysis:

i.) Product

• Single lumen tubing
• Multi-lumen tubing

ii.) Material

• Fluoropolymers
• Polyolefins
• Polyvinyl chloride (PVC)
• Silicone
• Thermoplastic elastomers
• Others

iii.) Application

• Abrasion protection
• Drug delivery
• Bulk disposable tubing
• Catheters
• Others

iv.) End user

• Pharmaceutical
• Medical
• Others

v.) Region

• North America
• Europe
• Asia-Pacific
• MEA (Middle East and Africa)
• Latin America