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Surgical Tubing Market Forecast:
The surgical tubing market is anticipated to reach USD 1869.29 Million by 2030 at 7.50% CAGR during the forecast period 2022-2030
Surgical tubing is made of Latex and which is available in different diameter and thickness. There is an improvement in the quality of surgical tubing in the past few years, which is fueling the global market growth. Also, as surgical tubing is used for various surgical purposes, moreover, companies are investing in this market.
Growing awareness and government initiatives to provide advanced healthcare facilities to the market growth will boost the market growth.
- Growing in geriatric population worldwide. About 185 million people were above 60 years of age in 2015 (15.7% of the population), and this number is expected to touch 487 million by 2053 (36.5% of the population) with a rising geriatric population. Moreover, around 857,040 older population is likely to reside in Asia by 2050.
- Shift toward the minimally invasive medical procedure
- Increasing demand for surgical devices that includes tubing
- Growing funding by government organizations
- Stringent regulatory policies
- Significant investment and time required for product development
- Polyvinyl Chloride (PVC): It is expected to hold the largest share, owing to the wide range of application it offers.
- Thermoplastic Elastomer (TPE): These are a mixture of synthetic materials and has high potential for recyclability.
- Thermoplastic Polyurethane (TPU): They are class of polyurethane with many properties such as transparency, elasticity, and resistance to grease, oil, and abrasion. TPU is the fastest growing market due to unique properties of plastics.
- Silicone: Silicone rubber tubing having various medical applications such as medical use like high-purity pressure tubing, medical/surgical tubing.
- Polyolefins: Polyolefins are further segmented into polyethylene (PE) and polypropylene (PP).
- Polyolefins are commonly used in surgical instruments such as electrotomes and endoscopes.
- Others: the others segment includes various products such as polyether ether ketone (PEEK), polyamide (NYLON), fluoropolymer, polycarbonate (PC), bioabsorbable polymers, among others.
- Single-Lumen: It is expected to hold the largest share, due to the widely used worldwide.
- Multi-Lumen: These are generally custom made, laser machined and kink resistant. Multi-lumen is fastest-growing segment during the forecast period
- Braided Tubing: Braided tubing is used in various surgical instruments.
- Balloon Tubing: In balloon tubing, high-pressure balloons are used for various diagnostic and therapeutic procedures.
- Others: The others segment includes various products such as heat shrink tubing, tapered or bump tubing, co-extruded, and among others
- Orthopedic surgery: This is expected to be the largest segment, owing to the increasing number of orthopedic surgeries worldwide.
- Neurosurgery: The increasing number of different neurosurgery cases is projected to push this segment to be the fastest-growing. Moreover, the share of this segment is expected to increase owing to the rising patient population.
- Trauma Surgery: Traumatic brain injuries treatment (TBI) is an interruption in the normal function of the brain. It is a serious public health problem and is the leading cause of brain injury with at least 1.7 million people sustaining such injury every year. Traumatic brain injuries contribute to a substantial number of death and permanent disability every year
- Ophthalmological Surgery: It includes surgery performed on the eye or its adnexa, typically by an ophthalmologist.
- Others: The others segment include toxicology and autoimmune diseases, among others.
- Hospitals and Clinics: The largest segment, hospitals, and clinics are usually the primary points for diagnosis and treatment of individuals. Growing awareness about new products and increasing use of surgical equipment are projected to drive the growth of this segment during the forecast period.
- Ambulatory Surgical Centers: Ambulatory surgical centers (ASC) provide outpatient procedures to patients who do not require an overnight stay after the procedure. In 2016, nearly 3.4 million fee-for-service (FFS) Medicare beneficiaries were treated in 5,532 ASCs certified to provide services to Medicare beneficiaries. Medicare program and beneficiary spending on ASC services was about USD 4.3 billion in the same year. From 2015 to 2016, the number of ASCs increased by 1.4% to 5,532. The annual growth rate was similar from 2015 to 2018 but slower than the prior period. In 2016, the number of new ASCs increased by 142, while 63 ASCs got closed or merged with other facilities. Since 2006, the number of new ASCs had been outnumbering ASCs that closed or merged, leading to a 23% increase in the number of ASCs from 2006 to 2016.
- Others: This segment includes research organizations and academic institutions.
- Americas: The largest regional market. Countries such as the US and Canada have well-established of advanced healthcare facilities in the region. This contributes to the growth of surgical tubing market in this region.
- Europe: Europe is expected to hold the second-largest position in the global surgical tubing market owing to the presence of major market players in the European countries.
- Asia-Pacific: Asia-Pacific region is anticipated to be the fastest-growing region in the global surgical tubing market. This region is seeing a surge in the number of people afflicted with chronic diseases.
- Middle East & Africa: The smallest market due to limited healthcare infrastructure and limited exposure to technological advancements.
- Zeus Industrial Products (US)
- Saint-Gobain Performance Plastics (France)
- Teleflex (US)
- Raumedic (Germany)
- Tekni-Plex (US)
- L.Gore & Associates (US)
- Kent Elastomer Products, Inc. (US)
- P. Extrusion (US)
- Freudenberg Group (Germany)
- Grayline (US)
- Microlumen (US)
- Polyzen (US)
Frequently Asked Questions (FAQ) :
Surgical Tubing Market is predicted to touch USD 1869.29 Million by 2030.
Surgical Tubing Market is projected to grow at an 7.50% CAGR between 2022-2030
Americas is projected to dominate in the Surgical Tubing Market.
Growing geriatric population, demand for surgical devices, and preference for minimally invasive medical procedure are driving market growth.
Significant time and investment need for product development and strict regulatory policies may hamper market growth.
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