Market
Insights
The surgical
tubing market is anticipated to reach USD
1869.29 Million by 2030 at 7.50% CAGR during the forecast period 2022-2030
The
elderly population who experiences many fitness problems due to reduced
endurance requires a range of treatments, including the use of surgical tubes.
This demand-based application of surgical tubes is the main driver of the
global market. Increasing vigilance among the population regarding the growth
of therapeutic services and measures taken by the government to provide funded
healthcare facilities is also one reason for the development of the surgical
tubing industry.
The
growing demand for surgical devices containing surgical tubes drives the
demand. Fitness-centric people are inclining towards precautions to avoid
future threats, and high demand for invasive surgical procedures promote the
development of the global tube market.
The
growth of the global surgical tube market is driven by several factors, such as
the growing surgery counts, and the innovations led by key players. However,
strict regulatory policy and the significant investment and time required for
product development are anticipated to impact the growth of the global surgical
tube market. The growing occurrences of diseases such as cancer, arthritis, and
cardiovascular diseases that require intricate surgical treatment, has spurred
the demand for minimally invasive surgical procedures, this helps to sustain
the demand ratio of surgical tubes.
On the
other hand, the legal subtleties applied by the government for the manufacturing
of surgical tubes hinder the development of the global market.
Market
Segmentation
The
global surgical tubing market is classified on the basis of structure,
material, application, and end-user.
The global
surgical tubing market, based on material, has been bifurcated into
thermoplastic elastomer (TPE), polyvinyl chloride (PVC), silicone, polyolefins,
thermoplastic polyurethane (TPU), and others. The polyvinyl chloride segment is
anticipated to come out as the largest segment during the assessment period
owing to the increased number of surgical procedures. The thermoplastic
polyurethane (TPU) segment is likely to emerge rapidly to its exceptional
properties.
On the
basis of structure, the global market is diversified into braided tubing,
single-lumen, balloon tubing, multi-lumen, and others. The single-lumen segment
is projected to maintain its dominance owing to highest share of the market
owing. The segment is driven by high demand for applications in surgical
instruments. The multi-lumen segment is predicted to be swiftly growing due to
increased number of surgeries.
The
global surgical tubing market is also divided on the basis of end-user segments
such as hospitals and clinics, healthcare centers, ambulatory surgical centers,
and others. The hospitals and clinics segment is set lead the market with
largest share due to the increasing use of surgical instruments and number of
hospitals. The ambulatory surgical centers' segment is poised to grow rapidly
due to rising number of hospitalized patients.
Regional
Analysis
Regionally,
North America will play an important role as it houses countries such as the
United States and Canada with one of the strongest health infrastructures. As mentioned
earlier, there will also be a peak among people aged 65 and older, followed by
Europe. People are more aware and focus on their wellbeing due to high
disposable income. It should be noted here that the second-largest shareholding
position in Europe can also be attributed to the presence of some of the major
players in the market.
Asia
Pacific region is likely to witness swift growth trends to meet growing demand
as a result of government efforts to improve healthcare infrastructure. In
addition, growing occurrences of chronic diseases in the region are anticipated
to boost the demand.
Key
Players
The
global surgical
tubing market players include Zeus Industrial Products, Saint-Gobain
Performance Plastics, Teleflex, Raumedic, Tekni-Plex, Microlumen, W.L.Gore
& Associates, A.P. Extrusion, Kent Elastomer Products, Inc., Freudenberg
Group, Grayline, Polyzen, and others.
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