The need for medical tubing devices, which are fundamental to surgical procedures, is anticipated to increase as the prevalence of chronic diseases and life-threatening illnesses such as cancer and cardiac arrest disease rises. One in two Australians (50%) were estimated to have at least one type of chronic condition, such as diabetes, arthritis, asthma, back pain, or the chronic obstructive pulmonary disease (COPD) or cardiovascular disease, according to a report released by the Australian Government's Department of Health in 2017. Consequently, a key driver projected to fuel the expansion of the worldwide medical tubing market is the rising frequency of chronic diseases and life-threatening illnesses.
The global Medical Tubing Market is estimated to be valued at US$ 9,550.5 million in 2022 and is expected to exhibit a CAGR of 8.6% during the forecast period (2022-2030).
Prominent Players in the Medical Tubing Industry :
1. Compagnie de Saint-Gobain S.A.
Compagnie de Saint-Gobain S.A. designs, manufactures, and distributes materials and solutions for wellbeing worldwide. The company was founded in 1665 and is headquartered in Courbevoie, France.
2.Teleflex Incorporated
Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. The company was incorporated in 1943 and is headquartered in Wayne, Pennsylvania.
3. Optinova Holding AB
Founded in 1971, Optinova is a world-leading extrusion partner for advanced medical and industrial tubing. The company has headquarters in Finland, Europe and operational in more than 50 countries. In August, 2022 the Optinova Group has approved investments to expand our capacity in all four manufacturing sites in Finland, Thailand and the US.
4. Zeus Industrial Products, Inc.
Zeus Industrial Products, Inc. was founded in 1966 and works in medical, automotive, aerospace, energy, fluid management, fiber optics, and many others.The company has headquarters situated in Orangeburg, SC, USA. In June, 2022 Zeus, the global leader in advanced polymer solutions, today announced a multi-million dollar investment to expand its catheter manufacturing capacity worldwide.
5. The Lubrizol Corporation
Founded in 1928 the Lubrizol Corporation is one of the global leader in healthcare sector. The company has headquarters situated in Wickliffe, Ohio, USA and is operational in more than 100 countries.
6. Nordson Corporation
Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. Nordson Corporation was founded in 1954 and is headquartered in Westlake, Ohio. The company operates in more than 35 countries.
7. Putnam Plastics Corporation
Putnam Plastics was founded in 1984 providing world-class extrusions to a multifaceted manufacturer of high-end, complicated components and complete catheter assemblies. The company has headquarters situated in Connecticut, United States.
8. Smith Group plc.
Smith Group plc operates as a technology company serving the medical technology, security and defence, general industrial, energy, and space and aerospace markets worldwide. Smith Group plc was founded in 1851 and is headquartered in London, the United Kingdom.
*Definition- Devices that transport liquid and gas employ "medical tubing," a hollow cylindrical pipe. Silicone, nylon, polyvinyl chloride (PVC), polyethylene, and thermoplastic elastomers are used in its production (TPE).
