Grand View Research suggests the industry will expand at a revenue-based consumer annual growth rate of 9.2% over the next five years. Increased health expenditures from individuals and increased emphasis on healthcare by the government are expected to contribute to market growth.
Medical tubes in wound therapy, stent tubes and implant-grade tubes are projected to boost market growth because of their cost-effectiveness. Plastic tubes used in negative wound therapy that are used to remove infection materials and fluids are expected to see more demand over the forecasted period as well.
The medical tubing market is categorized into polyolefins, silicone, polyvinyl chloride, fluoropolymers, polycarbonates and other plastics. Increased demand for single-use pre-sterilized medical devices is expected to contribute to the forecasted market growth. With PVC being the most common material, the demand for PVC tubes is expected to reach $3.3 billion by 2025, according to Grand View Research.
Devices that prevent hospital-acquired infections will contribute to the 9.2% CAGR as well. Single-use duodenoscopes are currently on the rise with Boston Scientific and Olympus having some of the earliest FDA clearance for the devices.
North America is projected to play a leading role in the medical tubing research and development and the European market is expected to be driven by the strong healthcare system in Germany, France, Russia, the U.K. and Italy.