Medical tubing completes a medical industry requirements and standards for various medical or pharmaceutical related applications. Medical tubing is used for fluid management, drainage, anesthesiology and respiratory equipment, intravenous applications (IVs), catheters, peristaltic pumps, and biopharmaceutical laboratory equipment. Medial tubing is equipped with standards and certifications, which represents material and specification requirements for tubes. These standards include Good Manufacturing Practice (GMP) and Current Good Manufacturing Practice (cGMP). Furthermore, Food and Drug Administration (FDA) grants standards depending on specific application required for certain types of medical tubing.
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Increasing Prevalence of Chronic Diseases and Life Threatening Diseases is Expected to Augment Market Growth
Increasing prevalence of chronic diseases and life threatening diseases is expected to drastically increase demand for medical tubing devices, which are essentially required during surgery procedures. For instance, according to a study published by National Center for Biotechnology Information in 2015, it was estimated that around 5.7 million people suffered from heart failure in the U.S. Moreover, according to Centers for Disease Control and Prevention (CDC), 2017, around 610,000 people die of heart disease in the U.S. every year.
According to a report published by the Australian Government, Department of Health in 2017, it was estimated that 1 in every 2 Australians (50%) suffers from at least one type of chronic condition, such as arthritis, asthma, back pain, cancer, cardiovascular disease, chronic obstructive pulmonary disease, diabetes or mental health conditions. Thus, high prevalence of chronic diseases and life threatening diseases is expected to be one of the major factors driving growth of the global medical tubing market.
Some of the key players operating in the medical tubing market are 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.