Fast Market Research announces the availability of the new Markets and Markets report, "Medical Tubing Market - Global Trends & Forecasts to 2021", on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 10/04/2016 -- Medical Tubing Market by Material (PVC, Polyolefin, TPE & TPU, Silicone, Others), Structure, Application (Bulk Disposable Tubing, Catheters & Cannulas, Drug Delivery Systems) - Global Trends & Forecasts to 2021
"Rapid growth of minimally invasive surgery and increasing aging population are expected to drive the market during forecast period."
The medical tubing market is projected to witness a CAGR of 8.0% from 2016 to reach a market size of USD 5.85 billion by 2021. The growth of the market is attributed to the rapid growth of minimally invasive surgery. Another driving factor of growth is increasing aging population and growing concern about health issues, especially in the developing countries forcing the population to spend money on quality healthcare services.
Get More Details on this Report and a Full Table of Contents at Medical Tubing Market - Global Trends & Forecasts to 2021
"Silicone expected to be the fastest-growing material for medical tubing during the forecast period"
Silicone is the fastest-growing material market, registering the highest CAGR during the forecast period. The growth is attributed to its sterilization capability and the property of sustaining even under high temperatures, where normal plastics cannot sustain.
"Medical tubing market in bulk disposable tubing application is projected to remain the largest segment during the forecast period."
Bulk disposable tubing application segment use medical tubing on a large scale. The segment includes tubing used in blood bags, dialysis tubing, among many more. The demand for medical tubing is increasing because the governments of many countries are taking different initiatives to cut costs and improve the quality of their healthcare infrastructure. The major factors which are driving the use of medical tubing are the demand from applications, especially bulk disposable tubing and catheters & cannulas.
This market sizes estimated in this study have been validated through primary interviews conducted with various industry experts, globally. These primary sources have been divided under three categories: by company type; by designation; and by region.
-By Company Type- Tier 1- 25%, Tier 2- 50%, and Tier 3- 25%
-By Designation- C Level- 20%, Director Level- 30%, and Others- 50%
-By Region- North America- 20%, Europe- 30%, Asia-Pacific- 25%,South America-15% and Middle East and Africa- 10%
"North America to remain the largest regional segment in the market during the forecast period"
The medical tubing market in North America is well established and the region has a vast distribution network of medical tubing. The U.S. is projected to drive the market in the region owing to the rising standard of living and health concerns among the population. Mexico is projected to witness the highest CAGR in the North American market during the forecast period.
The report provides the company profiles and competitive strategies adopted by the major market players such as Saint-Gobain Performance Plastics (U.S.), Freudenberg Medical, LLC (U.S.), W.L.Gore & Associates, Inc. (U.S.), and Dow Corning Corporation (U.S.). .
The stakeholders of the medical tubing market include:
-Medical tubing manufacturing companies
-Medical tubing distributors
-Raw material suppliers
-Medical grade polymer formulators & compounders
-Commercial Research & Development (R&D) institutes
-Research institute, trade association, and government agencies
-FDA regulatory bodies
Scope of the Report:
The report forecasts the revenue growth and analysis of trends in each of the submarkets. This research report categorizes the medical tubing market based on the following:
-TPE & TPU
-Specialty polymers (PEEK, polyamide, fluoropolymers, polycarbonate)
-Bulk Disposable Tubing
-Catheters & Cannulas
-Drug Delivery Systems
-Peristaltic Pump tubing
-Gas Supply Tubing
-Smoke Evacuation Tubing
-Middle East & Africa
Each region is further segmented by key countries as well
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