Global Medical Tubing Market Size to Reach $22.1 Billion at a CAGR of 9.20% by 2032
Vantage Market Research expects the Medical Tubing Market to reach USD 22.1 Billion by 2032, exhibiting a growth rate (CAGR) of 9.20% during 2024-2032.
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The Global Medical Tubing Market size reached USD 10.7 Billion in 2023. Vantage Market Research expects the market to reach USD 22.1 Billion by 2032, exhibiting a growth rate (CAGR) of 9.20% during 2024-2032.
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Introduction
In November 2023, Nordson Medical introduced a ground-breaking product called Pharma+ tubing retainers, significantly changing how fluids are transferred in the Medical Tubing market. This new addition to their wide range of products not only sets a new standard of quality but also effectively tackles the significant issues that professionals in the biopharmaceutical and high-pressure medical fields encounter. With careful engineering, these advanced tubing retainers provide a complete solution for fluid transfer without any leaks.
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Top Companies in Global Medical Tubing Market
- Elkem ASA (Norway)
- Zeus Company Inc. (U.S.)
- NewAge Industries Inc. (U.S.)
- TE Connectivity (Switzerland)
- Teknor Apex (U.S.)
- Asahi Tec Corp. (Japan)
- MDC Industries (Israel)
- Nordson Corp. (U.S.)
- ZARYS International Group (U.S.)
- Hitachi Cable America Inc. (U.S.)
- Freudenberg & Co. KG (Germany)
- DuPont (U.S.)
The Pharma+ tubing retainers have a unique lead-in ramp design that compresses the tubing from all sides, ensuring a tight fit over hose barbs. This innovative feature eliminates potential leaks, a significant issue in fluid transfer applications. These retainers have undergone extensive testing to ensure their reliability and performance. They can greatly increase the effectiveness and security of fluid transfer procedures in the medical industry and are perfect for high-pressure medical applications and biopharmaceutical processing.
Simultaneously, in September 2023, Zeus Company Inc. significantly impacted the industry by introducing Absorv™ XSE-oriented tubing. This new product is part of their bioabsorbable line and provides a flexible and customizable design option, replacing metallic implants in the body. Absorb XSE comes in different materials and sizes, highlighting its versatility and allowing medical device manufacturers to consider uses beyond treating coronary artery disease.
Absorb XSE is a flexible and customizable technology that has a wide range of applications in various medical fields, such as cardiovascular and peripheral vascular systems, as well as in ENT and related areas. This versatility showcases the potential of bioresorbable technologies and emphasizes the vital role that Absorv XSE can play in shaping the future of medical interventions. The ability to customize the mechanical properties and absorption profiles of Absorb XSE offers device engineers unprecedented flexibility in meeting specific design requirements.
As new ideas and advancements continue to be introduced, the worldwide market for Medical Tubing is at the forefront of a significant transformation. Several essential factors are driving this. One of the main drivers is the growing number of people suffering from chronic illnesses and life-threatening conditions. This has resulted in a higher demand for essential Medical Tubing devices during surgical procedures. According to the Department of Health of the Australian Government, at least one chronic illness, such as arthritis or cardiovascular disease, is thought to affect about half of all Australians. The significant need for cutting-edge Medical Tubing solutions that can address a variety of healthcare needs is highlighted by the growing prevalence of chronic illnesses.
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Furthermore, global health issues affect more than just one area. In May 2020, the National Center for Biotechnology Information released a report emphasizing the significant impact of cardiovascular disease (CVD) in India. The predicted increase in CVD-related deaths, combined with the rising rates of coronary heart disease, highlights the need for immediate implementation of advanced Medical Tubing solutions to meet the healthcare demands of a quickly expanding population.
Conclusion
In conclusion, the collaboration between Nordson Medical and Zeus Company Inc. in the Medical Tubing market represents a significant moment in the healthcare industry. Introducing Pharma+ tubing retainers and Absorb XSE-oriented tubing demonstrates a commitment to addressing critical healthcare challenges with advanced solutions. The market symbolizes technological innovation and transformative healthcare solutions as the demand for advanced Medical Tubing devices grows due to the increasing incidences of chronic and life-threatening diseases. The Pharma+ tubing retainers and Absorb XSE-oriented tubing showcase the industry's dedication to improving patient care and opening up new possibilities in medical interventions and fluid transfer applications.
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