Advancements in Extrusion Technologies boost Global Medical Tubing Market Growth
Inkwood Research predicts that the Global Medical Tubing Market is evaluated to record a CAGR of 7.32% in terms of revenue during the forecasted period of 2022-2030.
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Medical tubing is designed for numerous applications. It enables fluid administration, fluid drainage, fluid management, and gas flow. The common applications include IVs and ventilators.
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Latest Developments in Extrusion Technologies augment Market Growth
There is a rising demand for miniature devices for efficient surgical operations among several end-users and surgeons. With regard to miniature endoscopic devices, thinner and smaller diameter tubes have a high preference. This is because they are used for medical connectivity to transmit data from a medical device to an analytical system. Also, according to the National Health Services, England, endoscopic procedures increased from 650,000 procedures in 2011 to 900,000 in 2020. At the same time, the other surgical procedures that use minimally invasive devices are projected to increase in the coming years.
In addition, manufacturers are developing customized tubing products that meet specific demands. For instance, thin diameters in the range of 0.001 to 0.01 inches. Medical tubing solutions like para tubing, braided tubing, and tapered tubing developed through advanced extrusion technologies are manufactured to eliminate the assembling of two or more tubes. This has aided in cutting costs by eliminating secondary steps like the joining of tubes. Moreover, the latest developments in extrusion technologies offer plastic tube properties like lightweight, high tensile strength, flexibility, and non-ferrous properties.
Polyvinyl Chloride: Highest Revenue-Generating Polymer Type
Polyvinyl Chloride is the most vastly used thermoplastic material in medical tube manufacturing, given its ability to meet the challenging requirements of the healthcare industry. Also, the increasing use of single-use pre-sterilized medical devices has led to the growing demand for PVC-based medical devices. In addition, PVC can be sterilized through ethylene oxide sterilization and irradiation methods.
Furthermore, polymer materials used for producing medical devices must be resistant to chemicals and changes in the properties or compositions when in contact with liquids. Additionally, the transparency of the polymer material is a key criterion that enables the monitoring of continuous fluid flow in the tube. Since PVC is transparent, biocompatible, and resistant to chemicals, it is the most sought material for medical tube manufacturing.
North America has the Largest Market Share in the Global Market
The rising concerns regarding the spread of hospital-acquired infections propel the demand for disposable medical devices in the region. Also, the pandemic led to large-scale hospitalization. As a result, there was a huge demand for medical tubing used in several respiratory devices. Moreover, the expanding global disposable medical devices market due to the increasing number of joint ventures and collaborations between various companies presents growth opportunities.
The manufacturers in the market are offering value-added services like engineering and assembling services to sustain the market competition. Some of the eminent companies in the market include Asahi Tec Corporation, Optinova, DuPont De Nemours Inc, Saint-Gobain Sekurit, etc.
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