Medical Tubing Market to grow at 8% CAGR to reach $10 billion by 2025 – Global Insights on Recent Initiatives, Value Chain Analysis, Growth Drivers, Restraints, Business Opportunities, and Competitive Landscape: Adroit Market Research
Dallas, Texas, March 10, 2020 (GLOBE NEWSWIRE) — The “Medical Tubing Market by Material (PVC, TPE & TPU, Silicone, and Polyolefin), Application (Drug Delivery Systems, Catheters & Cannulas, Bulk Disposable Tubing, and Special Applications), and Region, Global Forecasts 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
The global medical tubing market size is anticipated to surpass USD 10 billion by 2025. Medical tubing is used across the healthcare industry for multiple applications which include catheters and drug delivery systems. It is produced through the extrusion process of materials such as TPE & TPU, polyolefin, PVC, and silicone. These tubes exhibit different thermal, mechanical, and chemical properties, which primarily depends on the material used for the production of medical tubes.
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The growing presence of healthcare suppliers, increase in production volume of medical-grade plastics, along with a surge in demand for medical devices and equipment which are integrated with tubes is driving the industry growth. An increase in the rate of hospital-acquired infections along with ongoing efforts to limit the spread of contagious infections is anticipated to surge demand of the product. Furthermore, increasing health awareness along with the growing population have led to a rise in demand for healthcare products, which in turn is stimulating the industry outlook.
The report also throws light on various aspects of the global medical tubing industry by assessing the market using value chain analysis. The report covers several qualitative aspects of the medical tubing industry in market drivers, market restraints and key industry trends. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local vendors.
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The global medical tubing market holds a strong competition among the well-established and new emerging players. These market players targets to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The medical tubing market is segmented into PVC, TPE & TPU, Silicone, and Polyolefin. In 2018, the polyolefin segment is anticipated to dominate the industry share and the TPE & TPU are anticipated to witness an impressive growth rate over the forecast timeframe.
The ongoing shift toward The North America region is expected to experience growth with around 8% CAGR over the forecast timeline. Ongoing growth across the healthcare industry in the region is expected to foster product demand. Furthermore, rising advancement across medical science to cure life-threatening diseases is further driving the product demand. In addition, the region is witnessing significant investment across advanced technology that extensively uses tube integrated devices owing to its multiple application will further proliferate the business outlook.
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Major players operating across the medical tubing market include Saint-Gobain Performance Plastics, Nordson Corporation, Zeus Industrial Products, Teleflex, W.L.Gore & Associates, Optinova, Tekni-Plex, Putnam Plastics, Lubrizol, and Raumedic. These industry players are adopting inorganic growth strategies including mergers & acquisitions, joint ventures along with organic strategies such as regional expansion to strengthen their market presence.
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Major points from Table of Contents:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Medical Tubing Market by Material
Chapter 6 Medical Tubing Market by Application
Chapter 7 Medical tubing Market By Region
Chapter 8 Competitive Landscape
Chapter 9 Company Profiles
Chapter 10 Appendix
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Adroit Market Research is a global business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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