Biocomposites Market will Grow at a CAGR of 16.0% Through 2026, Concludes MarketsandMarkets™
According to the report “Medical Tubing Market by Material (Plastics, Rubbers, Specialty Polymers), Application (Bulk Disposable Tubing, Catheters & Cannulas, Drug Delivery Systems, and Special Applications), Structure, and Region – Global Forecast to 2026,” the market for medical tubing is expected to grow from USD 4.9 billion in 2021 to USD 7.9 billion by 2026, at a CAGR of 10.0% between 2021 and 2026. Medical tubing is a polymer-based tube produced using the extrusion process. Medical tubes can be inserted into a person’s body to remove fluids and administer drugs. Additionally, they are employed in a wide range of medical devices, such as peristaltic pumps, catheters, cannulas, and equipment for removing or delivering drugs. Rising awareness and government initiatives to provide top-notch healthcare facilities are eventually driving factors in the global market for medical tubing.
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The bulk disposable tubing application segment is predicted to rule the medical tubing market during the time of forecasting.
Single-use disposable medical tubing is also known as common disposable tubing and is designed to be thrown away after use. The primary drivers of growth in the bulk disposable tubing market are the need for greater efficiency, infection control, and modernising healthcare infrastructure. This market is growing rapidly in developing countries as a result of rising economic growth, rising disposable income and purchasing power, and rising government investments in providing high-quality healthcare facilities. IV infusion tubes, respiratory disposables, dialysis supplies, laboratory disposables, wound care, and tubes used in blood bags for blood transfusion are all examples of bulk disposable tubing.
The plastic material segment is predicted to rule the medical tubing market during the anticipated timeframe.
The global market for medical tubing was dominated by plastics (56.5%) in terms of volume in 2020. Plastic rules the medical tubing market due to its low cost and ease of processing. PVC is a common plastic that is used to make medical tubing because of its low cost. Due to how easy it is to fabricate, produce, and assemble, it is a preferred material for medical tubing.
During the projected period, North America is expected to have the largest market for medical tubing.
North America held the largest market share for medical tubing globally, and this trend is anticipated to hold over the course of the forecast period due to the great interest of the region’s governments in creating world-class healthcare facilities.
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The leading companies in this market are Saint-Gobain (France), Freudenberg Medical LLC. (US), W.L. Gore and Associates Inc. (US), Avient Corporation (US), Raumedic AG (Germany), Lubrizol Corporation (US), Elkem ASA (Norway), Dow Corning Corporation (US), Nordson Corporation (US), Teknor Apex (US), and Optinova (Finland).
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