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The global medical tubing expander market size is estimated to grow by USD 1.96 billion at a CAGR of 6.81% between 2023 and 2028.
The global medical tubing expanders market is significantly driven by the growing need for disposable medical devices based on tubes. Disposable medical devices have become more popular since they are more affordable, less likely to cause infections, and more convenient. Furthermore, to guarantee constant flow rates, IV sets, which are frequently utilized in medical settings, depend on precise tubing expansion. The need for accurate and effective medical tubing expanders is driven by the growing need for disposable medical devices that use tubes, which is expected to propel the growth of the market during the forecast period.
Technavio has segmented the market into Material, Application, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2018-2022, besides analyzing the current market scenario.
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The market share growth by the plastics segment will be significant during the forecast period. Plastic tubing is a tube constructed from plastic compounds that are used in fluid flow or structural systems or as insulation or sheathing for electrical or heating assemblies. Medical tubing is made out of various plastic types, including polyvinyl chloride (PVC), polyethylene, thermoplastic elastomer (TPE), nylon, and silicone.
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The plastics segment was valued at USD 1.61 billion in 2018. Plastic tubing is generally used in disposable applications such as intravenous (IV) sets, enteral feeding tubes, medical catheters, irrigation, and drainage applications. The plastics segment plays an important role in producing medical tubes, such as conduits for acquiring stent holders, biopsy samples, and vascular catheters. Thus, the plastics segment is expected to grow and drive the growth of the global medical tubing expander market during the forecast period.
Bulk disposable tubing is a rapidly growing application that is expected to lead the global medical tubing expander market. Companies such as Lubrizol, a significant participant in the global medical tubing expander market, offer a variety of bulk disposable tubing options intended to ensure secure and effective fluid management in medical environments. Furthermore, the demand for bulk disposable tubing within the medical tubing expander industry is anticipated to continue growing as healthcare systems expand and the demand for dependable fluid transfer solutions increases. This, in turn, will drive the growth of the global medical tubing expander market during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. In North America, the US is the major revenue generator due to the rise in the aging population and the high prevalence of diseases such as cancer, arthritis, and cardiovascular diseases. Thus, the growing demand for medical tubing expanders for such diseases is contributing majorly toward the growth of the regional medical tubing expander market. Furthermore, favorable government support, the presence of local suppliers, and increasing market players in the region for the development of medical tubing expanders are driving the growth of the market in North America during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
A.P. Extrusion Inc.: The company offers medical tubing expander such as medical tubing in clear, custom and stock colors, in many shapes and sizes, and can be spooled or cut-to-length.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
Upsurge in the geriatric population is the key factor driving market growth. Medical operations and interventions, which frequently involve the use of medical tube expanders, are becoming more and more necessary as the number of older individuals rises. As per the World Bank, almost 6% to 7 % of the total population in India was 65 years or older.
Moreover, due to the increased prevalence of age-related medical disorders, including cardiovascular diseases and orthopedic problems brought on by this demographic change, there is a greater demand for medical tube expanders during procedures such as joint replacement surgery, angioplasty, and stent implantation. Thus, such factors will drive the growth of the market during the forecast period.
Rising customization and personalization is the primary trend shaping market growth. The specific needs of each patient are driving a growing trend in the use of custom-designed medical tube expanders. The aim to improve patient comfort, lower complications, and maximize treatment outcomes is this trend. Manufacturers are concentrating on creating customized tubing expanders for certain patient profiles and medical situations.
For instance, Teleflex, a major company, is creating customized catheter solutions for patients who are newborns or younger. These specially made items are made to cater to the special requirements of pediatric patients, guaranteeing secure and efficient medical treatments. Therefore, such factors will drive the growth of the market during the forecast period.
Increased relevance of alternate sources is a challenge that affects market growth. Using non-traditional materials or 3D printing as a substitute for traditional sources might cause problems for the supply chain and quality control. In addition, manufacturers occasionally choose to use non-standard materials to save money, which may compromise the longevity and security of their products.
For instance, adopting a less expensive but inferior material can shorten the life of medical tube expanders, necessitating frequent replacements and possibly endangering patient safety. These substitutes put the market in focus under pressure to uphold stringent quality control guidelines and guarantee patient welfare. Thus, the increased relevance of alternate sources is expected to impede the growth of the market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Medical Tubing Expander Market Customer Landscape
The medical tubing expander market report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2018-2028.
Medical Tubing Expander Market Scope |
|
Report Coverage |
Details |
Page number |
165 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.81% |
Market Growth 2024-2028 |
USD 1.96 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.41 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 35% |
Key countries |
US, Canada, Denmark, China, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
A.P. Extrusion Inc., Avient Corp., Compagnie de Saint Gobain, Corning Inc., Diversatek Inc., Duke Extrusion, FBK Medical Tubing Inc., Kent Elastomer Products Inc., Life Vascular Devices Biotech SL, MDC Industries Ltd., Nordson Corp., Optinova Holding Ab, Polyzen Inc., REHAU Group, Teel Plastics Inc., Tekni Plex Inc., Teknor Apex Co. Inc., Teleflex Inc., The Lubrizol Corp., and Zeus Co. Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Material
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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