Albany, NY -- (SBWIRE) -- 01/10/2018 -- Medical tubing plays an important role in variety of healthcare applications and market is experiencing steady growth due to growth of medical procedures such as minimally invasive surgeries and medical devices that uses tubing. Increasing aged population and growing concern about health problems, especially in developing nations like Asia-pacific driving the population to spend money on quality healthcare facilities and services which contributes as one of the drivers for global medical tubing market.
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Large volume of medical tubing is used in bulk disposable tubing application. Government of several countries are taking initiatives to improve the quality of their healthcare infrastructure which results in increasing demand for medical tubing. The demand for Polyvinyl chloride is expected to remain high during the forecast period because of its equivalent functional properties and low cost as compared to other polymers. Polycarbonate, polyamides, florupolymer, PEEK etc. are some of the specialty plastics used for medical tubing in very small volume.
The drug delivery system segment in the global medical tubing market is anticipated to experience a significantly high CAGR during the forecast period. Many companies are expanding their business across the globe to fulfill the demand for medical tubing. Silicones is the fastest growing material type and it is expected to expand with high CAGR during the forecast period.
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Based on the material type, the global medical tubing market is segmented into:
TPE & TPU
Specialty polymers ( PEEK, polyamide, fluoropolymers, polycarbonate)
Based on the application, the global medical tubing market is segmented into:
Bulk Disposable Tubing
Catheters & Cannulas
Drug Delivery Systems
Peristaltic Pump Tubing
Gas Supply Tubing
Smoke Evacuation Tubing
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In terms of geography, the global medical tubing market has been divided in to five key regions including North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. The global medical tubing market is expected to register healthy CAGR during the forecast period. Currently Europe is on the lead for this technology followed by North America. Asia-Pacific region possesses enormous potential for growth of medical tubing market due to the raised standard of living and government initiatives. China, Japan, India and Australia are some of the key countries contributing to the growth of Global Medical tubing market.
Some of the key players in the global medical tubing market are Saint-Gobain Performance Plastics, LLC, W.L. Gore & Associates Inc., Freudenberg Medical, Dow Corning Corporation etc.