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Global medical tubing market forecast with a CAGR of 8.4 percent through 2026

  8/22/2019 - Seattle, WA - According to the report, Global Medical Tubing Market, by Material (Polyvinyl Chloride [PVC]), Thermoplastic Elastomer (TPE), Thermoplastic Polyurethane (TPU), Silicone, Polyolefins (Polyethylene (PE) and Polypropylene (PP)), and Others), by Application (Peristaltic Pump Tubing, Catheters (Diagnostic Catheters, Central Venous Catheters, Angioplasty Catheters and Other Catheters), Feeding Tubes, Urological Retrieval Devices, Cannulas and Other Applications), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa), the market was valued at $6.92 billion in 2018, and is projected to exhibit a CAGR of 8.4 percent over the forecast period (2018–2026), as highlighted in the report published by Coherent Market Insights. Various key players involved in the manufacturing of medical tubing and its materials are focusing on new launches of products in the market. Hence, launches of new medical tubing are expected to drive the market growth, while the launches of new materials are expected to increase availability of new tubing for development of good quality medical tubes, and also enhance chances for development of novel medical tubing with salient features. For instance, in May 2017, Natvar Holdings, Inc., a company of Tekni-Plex, Inc., expanded its medical tubing product portfolio with the launch of silicone extrusion tubing, globally. The company’s silicone extrusions are typically used for items such as feeding tubes, catheters and peristaltic pump applications. In addition, during the same period (May 2017), the company launched a new tight-tolerance microextrusion medical tubing product line, made from thermoplastics and other highly-engineered materials for neurovascular and surgical applications. This new microextrusion tubing is considered to be the product innovation which will enable surgical procedures more efficient and patient-centric. In February 2014, Smiths Medical, Inc., a U.S.-based medical device manufacturer, launched its new Bivona FlexTend TTS cuffed tracheostomy tubes for neonates and pediatric patients in healthcare and homecare settings. Moreover, in 2017, Colorite Polymers, a subsidiary of Tekni-Plex, Inc., launched its new Cellene line of thermoplastic elastomer compounds in North America for medical device applications. Cellene was launched as an alternative to PVC, phthalate-based plasticized compounds and various rubber materials. Global suppliers of medical tubing solutions exhibit the latest products with innovations and developments in various trade fairs and conferences to market products to a wide variety of customers in the market. For instance, in November 2016, Natvar Holdings, Inc., a manufacturer of medical tubing products and a subsidiary of Tekni-Plex, Inc., launched iLipopath, a shatter-resistant capillary tube, and a polyethylene/thermoplastic polyurethane insulin delivery tube product at Medica Trade Fair 2016. Besides the marketing of an innovative product portfolio, key players in the market are involved in strategic partnerships and acquisitions, in order to expand its product offerings, and to expand its geographical presence in new regions and to cover the untapped market. Such strategic partnerships and acquisitions are expected to create a conducive environment for the market growth in the near future. For instance, in May 2015, Helix Medical, LLC, a Freudenberg Group company, acquired the silicone tubing product line of W.L. Gore & Associates, Inc. With this acquisition, Helix Medical, LLC, expanded its portfolio with Gore silicone tubing and Gore reinforced silicone hose, and will provide these products to W.L. Gore & Associates, Inc.’s existing customers. In June 2018, Biesterfeld Plastic GmbH entered in a distribution partnership with BASF SE for the distribution of company’s thermoplastic polyurethane elastomer, Elastollan, in central, western and southern Europe. Elastollan is a thermoplastic polyurethane elastomer (TPU) with good physical properties, and is widely used in medical tubing products. In August 2015, Qure Medical, a Q Holding Company, d.b.a. company, acquired Silicone Altimex Ltd. Silicone Altimex Ltd. is a manufacturer of silicone tubing. This acquisition allows Qure Medical to use Silicone Altimex’s manufacturing facilities in Europe, and enables it to grow its overall capacity in the pharmaceutical and assembly businesses, as Silicone Altimex is Europe’s leading independent manufacturer of cleanroom-produced silicone tubing components and assemblies for the pharmaceutical industry. Key takeaways of the medical tubing market: The global medical tubing market is expected to exhibit a CAGR of 4 percent over the forecast period, owing to increasing engagement of various key players in launching innovative products to compliment product adoption and market expansion. Among material type, polyolefins are widely used in medical tubing solutions, as polyolefins offer good biocompatibility, chemical resistance and lubricity, which are more preferred than traditional materials more prone to attract infections. Among applications, medical tubing is widely used for catheter manufacturing. Medical tubing is used in various high-end diagnostics and therapeutic catheters, such as high-pressure tubing, angioplasty balloon catheters, stent delivery catheters, and various other balloon tubing. Adoption of medical tubing for manufacturing catheters is attributed to higher efficiency to provide mechanical, physical, chemical, electrical or thermal properties, which are critical to the functioning of the finished medical device. Some of the major players operating in the global medical tubing market include 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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