Product ID: SQMIG35A2227
Report ID:
SQMIG35A2227 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|
Tables:
68 |
Figures:
77
Global Medical Tubing Market size was valued at USD 12.25 billion in 2022 and is poised to grow from USD 13.01 billion in 2023 to USD 21.05 billion by 2031, at a CAGR of 6.2% during the forecast period (2024-2031).
The rise in gastrointestinal, urological, cardiovascular, and other diseases and disorders has been a major factor in the medical tubing industry's expansion. The rising incidence of chronic diseases and the aging population are the main factors driving the demand for medical tubing. The World Health Organisation (WHO) predicts that by 2050, there will be 2 billion people in the world who are 60 or older, up from 900 million in 2015. The demand for medical gadgets and the need for medical tubing are both being driven by this demographic trend. The market is additionally fueled by technical improvements in medical tubing components and production methods as well as the rise in surgical procedures. For instance, producers are creating tubing that is more flexible, biocompatible, and less prone to kinking, twisting, and collapsing. The need for medical tubing is increasing as a result of these innovations, which also improve the safety and effectiveness of medical equipment. The acquisition will increase Zeus's geographic reach and product options, which will spur market expansion. Zeus Industrial goods' collection of steerable catheter-specific goods also includes PTFE Sub-Lite-Wall multi-lumen tubing, which was added in February 2022.
US Medical Tubing Market is poised to grow at a sustainable CAGR for the next forecast year.
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Product ID: SQMIG35A2227