US expected to have the largest market for medical tubing worth $2.9 billion

The US medical tubing market size is projected to reach USD 2.9 billion by 2021, at a CAGR of 13.2%.The increase in demand for medical tubes in ventilators is the key factor driving the use of medical tubing. The rising demand for medical devices that incorporate medical tubing and the growing demand for ventilators in this pandemic are propelling the growth of the medical tubing market globally. However, factors such as restricting counterfeit products and fighting time for supply chain and logistics could affect the market growth.

The US is projected to be the leading medical tubing market during the forecast period. The growth in the US can be attributed to the rising demand for medical tubing applications such as drug delivery, catheter & cannulas, bulk disposable tubing, and special application. The presence of a robust industrial base, favorable government policies, and large number of established players for medical tubing in the country are strengthening the medical tubing industry in the country.

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Zeus Industrial Products (US), Saint Gobain Performance Plastics (France), Teleflex (US), Optinova (US), and Lubrizol Corporation (Vesta) (US), among others, are the leading medical tubing manufacturers, globally. These companies have established their brands, and medical tubing produced by these companies are consumed domestically. They are also supplied to various countries such as China, Japan, UK, Italy, France, and others within the Asia Pacific region.

In February 2020, Teleflex Medical OEM acquired HPC Medical Products to strengthen its medical tubing & wire components and catheters portfolio. With this acquisition, the company is able to meet the growing demand in this pandemic situation. Now, the company is able to supply more products to the impacted countries with immediate effect to meet the growing demand.

Lubrizol announced the continuous supply of flexible and biocompatible materials for vascular catheters, IV tube sets, and medical components used in ventilators, valves, and infusion pumps. In order to attain this, it has altered its production process to deliver more products which can serve the purpose during this COVID-19 pandemic. The company also ramped up the supply of ESTANE thermoplastic polyurethane (TPU) for a multitude of applications in this crucial time.

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Market Leader - COVID-19 Impact on Medical Tubing Market

The US medical tubing market size is projected to reach USD 2.9 billion by 2021, at a CAGR of 13.2%.The increase in demand for medical tubes in ventilators is the key factor driving the use of medical tubing. The rising demand for medical devices that incorporate medical tubing and the growing demand for ventilators in this pandemic are propelling the growth of the medical tubing market globally. However, factors such as restricting counterfeit products and fighting time for supply chain and logistics could affect the market growth.

Zeus Industrial Products (US), Saint Gobain Performance Plastics (France), Teleflex (US), Optinova (US), and Lubrizol Corporation (Vesta) (US), among others, are the leading medical tubing manufacturers, globally. These companies have established their brands, and medical tubings produced by these companies are consumed domestically. They are also supplied to various countries such as China, Japan, UK, Italy, France, and others within the Asia Pacific region.

To know about the assumptions considered for the study download the pdf brochure

In February 2020, Teleflex Medical OEM acquired HPC Medical Products to strengthen its medical tubing & wire components and catheters portfolio. With this acquisition, the company is able to meet the growing demand in this pandemic situation. Now, the company is able to supply more products to the impacted countries with immediate effect to meet the growing demand.

Lubrizol announced the continuous supply of flexible and biocompatible materials for vascular catheters, IV tube sets, and medical components used in ventilators, valves, and infusion pumps. In order to attain this, it has altered its production process to deliver more products which can serve the purpose during this COVID-19 pandemic. The company also ramped up the supply of ESTANE thermoplastic polyurethane (TPU) for a multitude of applications in this crucial time.

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COVID-19 Impact on Medical Tubing Market worth $2.9 billion by 2021

The report “COVID-19 Impact on Medical Tubing Market by Material (PVC, TPE & TPU, Polyolefin, and Silicone), Application (Drug Delivery, Bulk Disposable Tubing, Catheters & Cannulas, and Special Applications) and Country – Forecast to 2021″, size is expected to grow from USD 2.6 billion in 2020 to USD 2.9 billion by 2021, at a CAGR of 13.2% during the forecast period. The major factors driving the medical tubing industry include increasing demand from various applications such as drug delivery and growing usage in ventilators.

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The medical tubing industry has been segmented based on material into silicone, PVC, TPU & TPE, polyolefin, and others. The silicone segment accounted for the largest share of the market in 2020. Silicone is in high demand from various medical applications because of its versatility, high dielectric strength, and semi-permeability to certain materials, making it useful for use in drug-eluting applications.

The market has been segmented based on application as drug delivery, catheter & cannulas, bulk disposable tubing, and special application. The drug delivery segment dominates the market in 2020 and is expected to witness significant growth during the forecast period. The growth in this segment is attributed to the growing usage of medical tubes as a device or channel of delivery in drug delivery systems. The demand for drug delivery system is increasing due to the rising incidence of COVID-19 cases, globally. The market is also influenced by growing COVID-19 infection in people having existing medical conditions such as asthma and diabetics. There is considerable growth in the demand for drug delivery devices and equipment such as nasogastric tubes, nebulizers, spacer devices, and others. These factors are expected to drive the demand during the forecast period.

US expected to have the largest market for medical tubing during the forecast period
The US is projected to be the leading medical tubing market during the forecast period. The growth in the US can be attributed to the rising demand for medical tubing applications such as drug delivery, catheter & cannulas, bulk disposable tubing, and special application. The presence of a robust industrial base, favorable government policies, and large number of established players for medical tubing in the country are strengthening the medical tubing industry in the country.\

Zeus Industrial Products (US), Saint Gobain Performance Plastics (France), Teleflex (US), Optinova (US), and Lubrizol Corporation (Vesta) (US), among others, are the key players operating in the medical tubing market.

Read More: https://www.marketsandmarkets.com/ResearchInsight/covid-19-impact-on-medical-tubing-market.asp