U.S. Medical Silicone Wires & Cables Market Is Anticipated to Hit $782.63 Billion by 2023 at a CAGR of 4.44%
Hyderabad, India -- (SBWire) -- 08/09/2018 --According to the new market research report by IndustryARC titled "U.S. Medical Wires & Cables Market: By Application (Medical Tubing, Lead wire, Cables and others); By Equipment (Diagnostics, Therapy, Patient Monitoring and Others) - Forecast (2018 – 2023)", the market is driven by the increasing demand and government initiatives to cut costs and improve quality of healthcare infrastructure.
Selected Value Chain Analysis done in the full report
Firstly, the value addition in the chain starts from raw material providers who extract silica through mining and excavation processes. This silica is procured by formulators who process it further to form basic silicone such as silicone fluid, silicone elastomer, and resins. Liquid Silicone Rubber (LSR), Elastomer, and High Consistency Rubber (HCR) elastomer are the basic forms of silicone procured for cable and tube manufacturing. These raw materials of medical grade tubes and cables are also tested for compliance with the industrial standards.
These forms can be directly procured from the formulators or through third party suppliers. The cable and tube manufacturers use these raw materials to produce tubes, cables, and insulating jackets for general as well as medical applications. There are players devoted to the manufacturing of only medical grade tubes and cables as well. The products are extensively tested for ensuring the medical standards and regulations.
These cables, tubes, and insulations are then moved to the next stage where the distributors avail various types of medical grade cable and tubes from different manufacturers to the end users. These end users are healthcare units or medical equipment manufacturers.
Medical equipment manufacturers procure these products either from the distributors or from the cable and tube manufacturers directly. These cables and wires are equipped in the medical machineries such as X-ray, CT, ultrasound, endoscopy, ECG, EFG, MEG and many others. These finished products are then bought by various healthcare units.
The healthcare units such as hospitals, clinics, diagnostics, emergency care units and others procure tubes and cables either through the distributors or directly from the manufacturers. Tubes are the prominent products procured by the healthcare units from the distributor or the manufacturers.
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Excerpts on Market Growth Factors
Diagnostics equipment is projected to generate $249.04 million in 2021.
The states with the highest number of medical device companies include California, Florida, New York, Pennsylvania, Michigan, Massachusetts, Illinois, Minnesota and Georgia where the silicone wires and cables major share of revenue is generated from these regions.
Medical Tubing application accounted for the highest revenue and is projected to be dominant in 2021. Silicone Tubing is highly demanded in ventilation masks, transfusion delivery systems, handles for surgical instruments, breading tubes and other equipment.
As Silicone is resistive to extreme temperature variations it has enabled its huge application in medical field where flexible tubes are needed to handle temperatures which is not possible with other plastics or rubber tubes.
Silicone tubes are also used in mechanical ventilators to support artificial ventilation. According to Centers for Disease Control and Prevention, every year more than 300,000 patients receive mechanical ventilation in the U.S. Since, the demand for mechanical ventilator is increasing; hence more silicone tubes are required. Thereby, increasing the U.S. medical silicone wires and cables market.
Each year in the United States, patients contract nearly 1.7 million infections in the hospital while they are being treated for something else Research conducted at the University of Wisconsin Hospital and Clinics, Madison, identified that 77% of reusable ECG leads were contaminated with one or more antibiotic-resistant nosocomial pathogen. Hence, to stop the further increase of infections, the disposable lead wires demands have been elevating in the recent years.
The U.S. Medical Silicone Wires and Cables Market for X-ray equipment is estimated to reach $47.39 million by 2023 growing at a CAGR of 4.19%.
Ultrasound segment for U.S. medical silicone wires and cables market is forecast to reach $28.59 million by year 2023 growing at a CAGR of 4.02%.
The market for U.S. Medical Silicone wires and cables with respect to the molecular imaging equipment is anticipated to see an upsurge during the forecast period. The market will reach $42 million till 2023 growing at a CAGR of 4.14%.
The market for U.S. Medical Silicone wires and cables with respect to the endoscopy equipment is anticipated reach $51.6 million till 2023 growing at a CAGR of 6.06%.
The market for U.S. Medical Silicone wires and cables with respect to the ECG, EEG, MEG equipment is anticipated to reach $35.7 million till 2023 growing at a CAGR of 3.80%.
The major factors which are driving the use of medical tubing are the demand from applications, especially bulk disposable tubing and catheters and cannulas.
Major factors that drive the market include upsurge in utilization of surgical robots and electrosurgical tools in U.S. Medical.
Rising health concerns coupled with implementation of new technologies in the medical sector intensified the utilization of the silicone wires and cables as it is highly biocompatibility, heat resistant, chemical resistant and highly flexible at low temperatures.
Increasing need for sophisticated equipment in medical field for the diagnosis of various diseases accompanied by increasing number of aging population who frequently visit healthcare centers for various treatments paved a way for the evolution of these silicone wires and cables in medical equipment.
Constantly increasing designing of reliable, smaller and portable machines as well as components for medical usage to meet the growing demand for medical aid and invasive surgeries is fueling the silicon wire and cable market in U.S. and these factors have been amplifying the market in the recent years.
The market is driven by the upsurge of surgical robots and electrosurgical tools in U.S. Medical Industry.
Adoption of Silicone based optic fiber cables for endoscopy and other internal medical illumination.
Patient comfort owing to softness of Silicone tubing.
The associated markets like silicone wires and cables for medical applications in U.S is on rise from the past five years and is likely to represent the country as dominant in the medical device sector.
Development and adoption of Silicone based optical fiber for endoscopy and medical illumination is also set to drive the market.
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Key players of U.S. Medical Silicone Wires & Cables Market:
The key players of U.S Medical Silicone Wires and Cables Market comprises of Freudenberg Medical LLC. (U.S.), Dacon Systems Inc. (U.S.), Hitachi Cables (Japan), Wacker Chemie (Germany) and Lorom Industrial (Taiwan).
Freudenberg Médical LLC one of the major players in U.S. silicone wires & cables market. The Company witnessed revenue of $7.11 billion last year.
U.S. Medical Silicone Wires & Cables Market Report is segmented as indicated below
U.S. Medical Silicone Wires & Cables Market By Application:
1. Medical Tubing
U.S. Medical Silicone Wires & Cables Market By Equipment
3. Patient Monitoring
U.S. Medical Silicone Wires & Cables Market By Geography (Covers 12 + Countries)
U.S. Medical Silicone Wires & Cables Market By Entropy
Tektronix, Inc (Danaher)
Sab BRÖCKSKES GMBH & Co.
E.I.Du Pont De Nemours and Company
DoW Corning Corporation
Calmont Wire & Cable Inc;
Newage Industries, Inc;
A. Chloroprene Rubber Market
B. Chlorinated Polyethylene Market
What can you expect from the report?
The U.S. Medical Silicone Wires & Cables Market is Prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories
2. Market trends
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Demand Analysis (By Revenue & Volume)
12. Country level Analysis (15+)
13. Competitor Analysis
14. Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Strategic Analysis
18. Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Revenue and Volume Analysis
Frequently Asked Questions:
Q. Does IndustryARC publish country, geography or application based reports in U.S. Medical Silicone Wires & Cables Market?
Response: Yes, we do have separate reports as mentioned below:
1. Americas Market for U.S. Medical Silicone Wires & Cables (2018-2023)
2. Europe Market for U.S. Medical Silicone Wires & Cables (2018-2023)
3. APAC Market for U.S. Medical Silicone Wires & Cables (2018-2023)
4. RoW Market for U.S. Medical Silicone Wires & Cables (2018-2023)
5. Medical Tubing Market for U.S. Medical Silicone Wires & Cables (2018-2023)
6. Wires & Cable Market for U.S. Medical Silicone Wires & Cables (2018-2023)
7. Diagnostics Market for U.S. Medical Silicone Wires & Cables (2018-2023)
8. Therapy Market for U.S. Medical Silicone Wires & Cables (2018-2023)
9. Patient Monitoring Market for U.S. Medical Silicone Wires & Cables (2018-2023)
Q. Does IndustryARC customize these reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
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