The global medical tubing market size is projected to reach USD 7.9 billion by 2026 growing at a CAGR of 10.0% from 2021 to 2026. The increasing demand for medical tubing in various healthcare segments coupled with stringent regulations concerning healthcare safety is driving the market for medical tubing.
Based on region, the medical tubing market has been segmented into APAC, Europe, North America, South America and Middle East & Africa. This growth is due to the increasing demand from end-use applications such as bulk medical tubing, catheters & cannulas, drug delivery systems, and other special applications (peristaltic pump tubing and smoke evacuation tubing). The rapidly growing demand for minimally invasive medical procedures and increase in healthcare accessibility are the factors driving the market for medical tubing in this region.
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The increase in demand for medical tubing and the growing industrial development in the emerging economies, such as APAC and South America, are driving the market. The key players 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). These players have adopted various strategies such as investment & expansion, merger & acquisition, partnership & agreement, and new product launch in order to strengthen their market position. For instance, in August 2021, Nordson Corporation entered into a distribution agreement with Qosina. Under this agreement, the company will distribute its medical products through its distribution partner, Qosina.
Saint-Gobain SA is among the leading producers and suppliers of medical tubing and medical-related polymers. The company was incorporated in 1665 in France. The company manufactures and markets medical tubing for application in various medical fields such as dialysis, chemotherapy drug delivery, and minimally invasive surgeries. Saint-Gobain adopts expansions as the major growth strategy; recently, it expanded its manufacturing facility in the US to cater to the growing demand. The company has focused on the adoption of organic strategies to cement its position as the leader in the medical tubing market.
Lubrizol Corporation operates as a wholly-owned subsidiary of Berkshire Hathaway (headquartered in the US). The Lubrizol Corporation operates as a specialty chemical and performance materials company engaged in the production and supply of plastic and chemical products for application in a multitude of healthcare, medical, industrial, and consumer sectors on a global level. The company offers its medical-grade products such as materials for the production of medical tubing as well as medical tubing under its life sciences sub-segment. In terms of geographical footprint, Lubrizol Corporation has a global presence, operating ~40 labs/technical centers, ~60 manufacturing sites, and ~50 sales offices across the globe. The workforce strength of the company is around 8,800 employees, as of December 2020. Some of the major countries where the company has its production facilities or lab/technical centers located are the US, Belgium, Brazil, China, France, Germany, India, Japan, Malaysia, the Netherlands, Singapore, South Africa, Spain, and the UK.
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