LONDON, June 6, 2018 /PRNewswire/ -- The increase in aging population is a key factor fueling the growth of the medical tubing market.Download the full report: https://www.reportbuyer.com/product/4147670
The global medical tubing market is estimated to reach USD 9.38 billion by 2022 from USD 6.10 billion in 2017, at a CAGR of 9.0% from 2017 to 2022. The increase in aging population is a key driver for the medical tubing market, as the major demand for feeding tubes, fluid management, drainage tubes, and ventilator tubes are driven by the aged population. The aging population will have a major impact on the development and delivery of healthcare facilities. According to the United Nations 'World Population Prospect', the aging population, comprising people 60 years of age or over, is expected to increase threefold by 2100. As of 2017, approximately 13% of the global population comprised people aged 60 or above; this is growing at a rate of 3% per year. This factor will play a significant role in driving the need for advanced medical procedures and medical devices that incorporate tubing, thus, driving the medical tubing market. Majority of the growth in the aging population is recorded in developing regions. China, India, Indonesia, Brazil, and Nigeria are expected to be countries with the highest aging population by 2050. However, currently, Europe has the greatest percentage of the population aged 60 or over, followed by North America.The silicone segment of the medical tubing market is expected to grow at the highest CAGR during the forecast period.The strong silicone-oxygen structure of silicone allows it to have properties such as biocompatibility, superior temperature & chemical resistance, good mechanical & electrical properties, and natural clarity or translucence.Silicone is flexible, has high tear & tensile strength, and a wide range of surface hardness.Silicone materials have the ability to resist chemicals, solvents, and extreme temperatures.Biocompatibility of silicone allows it to be compatible with human tissues and body fluids, thus increasing its use in medical tubing.The molecular structure of silicone allows it to be manufactured in any form, including solids, liquids, semi-viscous pastes, greases, oils, and rubbers.Silicone is flexible and resistant to moisture, chemicals, heat, cold, and UV radiation.All these factors contribute to the growth of the silicone segment of the medical tubing market.The rising demand for silicone in various advance medical applications owing to its superior properties drive the medical tubing market.Drug delivery system is expected to be the fastest-growing market for medical tubing.Drug delivery is a method or approach used to deliver drugs or medications to achieve a therapeutic effect in humans or animals.This can be used for the treatment or diagnosis of numerous diseases such as diabetes, kidney failure, heart diseases, and others.Medical tubing is used as a device or channel of delivery in drug delivery systems.Nasogastric tubes are used for enteral feeding and drainage.Spacer devices used for asthma are also incorporated with medical tubing.The tubing used in these systems necessitates the use of high-quality polymers. The demand for medical tubing is increasing due to the rising incidences of diseases such as diabetes and asthma, and the increase in the aging population.In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.The breakdown of primary interviews is given below:• By Company Type: Tier 1 - 58%, Tier 2 - 25%, and Others - 17%• By Designation: C-level - 33%, Director-level - 40%, and Others - 27%• By Region: North America - 43%, Europe - 14%, APAC – 29%, South America - 7%, and the Middle East & Africa - 7%Note 1: Other designations include sales, marketing, and product managers.Note 2: Companies are classified based on their revenue—Tier 1 (More than USD 500.0 million), Tier 2 (between USD 250.0 million and USD 499.99 million), and Tier 3 (Less than USD 250.0 million).Key companies profiled in this market research report include Zeus Industrial Products (US), Saint-Gobain Performance Plastics (France), Teleflex (US), Optinova (US), Lubrizol Corporation (Vesta) (US), Nordson Corporation (US), Putnam Plastics (US), RAUMEDIC AG (Germany), Tekni-Plex (US), and W.L.Gore & Associates (US).Research CoverageThis report covers the medical tubing market, in terms of volume and value, and forecasts the market size till 2022.The report includes the market segmentation based on material (PVC, polyolefin, TPE & TPU, and silicone), application (bulk disposable tubing, catheters & cannulas, drug delivery systems, and special applications), structure (single-lumen, multi-lumen, co-extruded, tapered or bump tubing, braided tubing, balloon tubing, and heat shrink tubing), and region (APAC, Europe, North America, the Middle East & Africa, and South America).The regions have been further segmented based on key countries into the US, Canada, Mexico, Germany, UK, France, Spain, Italy, Russia, Netherlands, China, Japan, India, South Korea, Australia, Malaysia, Thailand, Egypt, UAE, Saudi Arabia, South Africa, Brazil, and Argentina. The report also provides company profiles and competitive strategies adopted by key players in the medical tubing market.The report will help market leaders/new entrants in the global medical tubing market in the following ways:1. This report segments the medical tubing market comprehensively and provides closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.2. It will help stakeholders understand the pulse of the market and provide them information on key market drivers, challenges, restraints, and opportunities.3. It will help stakeholders understand competitors and gain more insights to improve their position in the business. The competitive landscape section includes new product launches, expansions, acquisitions, and joint ventures.Download the full report: https://www.reportbuyer.com/product/4147670
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