Future of Medical Tubing Market – Comprehensive study by Key Players: Compagnie de Saint-Gobain S.A., Teleflex Incorporated, Optinova Holding AB, Zeus Industrial Products, Inc.
The Global Medical Tubing Market, accounted for US$ 6.92 billion in 2018, and is expected to witness an 8.4% CAGR over the forecast period (2018 – 2026).
Several key players included in production of medical tubing and their materials are focused on new product launches in the market. Therefore, launches of novel medical tubing are expected to propel the growth of the global medical tubing market over the forecast period. While launches of novel materials is expected to enhance availability of latest tubing to develop medical tubes of good quality and also improve chances for advancements of latest medical tubing having latest features. For instance, Natvar Holdings, Inc., a Tekni-Plex, Inc.’s company, in May 2017, expanded its product portfolio of medical tubing with global launch of the silicone extrusion tubing. Silicone extrusions of the company are used typically for items including feeding tubes, peristaltic pump, and catheter applications. Moreover, around the same period, in May 2017, the company launched novel product line of tight-tolerance microextrusion medical tubing, made with thermoplastics as well as other materials that are highly-engineered for surgical and neurovascular applications. The novel microextrusion tubing are considered to be a product innovation that will enable the surgical procedures to be more patient-centric and efficient.
Smiths Medical, Inc., the U.S.-based manufacturer of medical devices, in February 2014, launched its novel Bivona FlexTend TTS cuffed tracheostomy tube for pediatric patients and neonates in homecare and healthcare settings. Moreover, Colorite Polymers, the Tekni-Plex, Inc.’s subsidiary, in 2017, launched its novel Cellene line for thermoplastic elastomer compounds within North America for the applications of medical devices. Cellene was introduced as a substitute to PVC, plasticized compounds based on phthalate and several rubber materials.
Worldwide suppliers of solutions of medical tubing exhibit its newest products with developments and innovations, in several conferences and trade fairs for marketing its product for a wide range of consumers within the market. For instance, Natvar Holdings, Inc., a medical tubing product manufacturer of and Tekni-Plex, Inc.’s subsidiary, in November 2016, launched iLipopath, the capillary tube which is shatter-resistant, and the polyethylene/thermoplastic polyurethane insulin delivery tubes at the 2016 Medica Trade Fair. Along with marketing the novel product portfolio, major market players market are focused on strategic acquisitions and partnerships for expanding the product offerings, along with improving its global presence in newest regions and for covering untapped market. These strategic acquisitions and partnerships are expected to generate a conducive environment for growth of the global medical tubing market in the near future. For instance, Helix Medical, LLC, a company of Freudenberg Group, in May 2015, acquired W. L. Gore & Associates, Inc.’s product line of silicone tubing. With the acquisition, the Helix Medical, LLC enhanced its portfolio of products with GORE Reinforced Silicone Hose and GORE Silicone Tubing, and will be providing these products for the existing customers of W. L. Gore & Associates, Inc.
Biesterfeld Plastic GmbH, in June 2018, along with BASF SE signed a distribution partnership to distribut the thermoplastic polyurethane elastomer of the company, Elastollan, in Western, Southern, and Central Europe. The Elastollan is the thermoplastic polyurethane elastomer (TPU) having great physical properties, used widely in products of medical tubing. Qure Medical, a Q Holding Company, D.b.a. Company, in August 2015, acquired the Silicone Altimex Ltd. The latter is the silicone tubing manufacturer. The acquisition enables Qure Medical for using manufacturing facilities of Silicone Altimex within Europe and allows to grow the overall capacity within assembly and pharmaceutical business, as the Silicone Altimex is a leading independent manufacturer for cleanroom-produced components of silicone tubing and assemblies in the pharmaceutical field, of Europe.
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Global Medical Tubing Market: Key Takeaways
The global medical tubing market is projected to witness a 4% CAGR during the forecast period, due to rising engagements of several key players to launch novel products for complementing their market expansion and product adoption.
Based on material type, the polyolefins are used widely in solutions of medical tubing, as polyolefin provide good biocompatibility, lubricity, and chemical resistance, which is preferred more than the traditional materials, susceptible for attracting infections.
Based on applications, the medical tubing is used widely for manufacturing of catheters. Medical tubing is utilized in several therapeutic and high-end diagnostics catheters, including high-pressure tubing, stent delivery catheters, angioplasty balloon catheters, and several other balloon tube. Medical tubing adoptions to manufacture catheters is associated with high efficiency for providing mechanical, physical, electrical, thermal, or chemical properties that are critical in functioning of finished medical devices.
Major Key Players Include In Medical Tubing Market: Compagnie de Saint-Gobain S.A., Teleflex Incorporated, Optinova Holding AB, Zeus Industrial Products, Inc., The Lubrizol Corporation, Nordson Corporation, Putnam Plastics Corporation, Raumedic AG, Tekni-Plex, Inc., and Smith Group plc.
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