MEDICAL TUBING MARKET ANALYSIS

Market Concentration and Competitive Landscape

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The use of coronary stent devices has been increasing significantly over the past few years. Coronary stents are tiny mesh tubes made from medical metal tubing that are used to open blocked arteries and improve blood flow to the heart. As the prevalence of heart diseases like coronary artery disease has been rising rapidly, more and more patients require angioplasty procedures where temporary scaffolds in the form of coronary stents are placed inside the arteries to keep them open. This rising demand for angioplasty and stent placement surgeries has resulted in the greater consumption of medical metal tubing that is needed to manufacture coronary stents. Most contemporary coronary stents are made of alloy metals like cobalt-chromium, platinum-chromium, or nickel-titanium due to their strength, biocompatibility, and corrosion resistance. The tubing used for making these stents undergoes complex machining and manufacturing processes to create the intricately designed metal mesh structure. The advancement of drug-eluting stents that can release medications has further boosted the usage of specialty medical metal tubing. Moreover, the increasing prevalence of cardiovascular diseases will augment the requirement for coronary interventions like angioplasty and stent placement. Consequently, greater demand for the underlying medical metal tubing used for producing stents will drive higher growth in the market. For instance, in May, 2023 according to a report published by the Centers for Disease Control and Prevention, heart disease is the leading cause of death among men, women, and people of most racial and ethnic groups in the U.S., while one person dies every 33 seconds in the U.S. from cardiovascular disease.