Market Insights
The surgical tubing market share 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.
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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.
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Key Players
The leading dominating the growth of the global surgical tubing market 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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