MEDICAL TUBING MARKET ANALYSIS

The major factors restraining growth of the medical tubing market is increasing product recalls in the market. Reasons for recalls vary greatly, ranging from life-threatening malfunctions of pacemakers to simple labeling changes for non-implantable products. The action does not always mean products must be pulled; sometimes a recall means a product needs to be checked or fixed. For instance, in July 2023, Edwards Lifesciences, a medical technology company, announced the recall of Swan-Ganz Double Lumen Monitoring Catheter on July 4, 2023. The reason for the product recall was medical devices - labelling and packaging issues. Swan-Ganz catheter model 110F5 contains stainless steel bushings and is inappropriately labeled as MR safe. As per ASTM F2503, "MR safe" items include non-conducting, non-metallic, and non-magnetic items.

Market Opportunities – Emergence of Bioabsorbable Metal Stents

The emergence of bioabsorbable metal stents represents a major opportunity for growth in the global medical tubing market. Traditionally, stents have been made of non-absorbable metals like stainless steel or cobalt chromium. While effective, these permanent metal implants can cause complications like inflammation or thrombosis after being implanted. However, bioabsorbable stents made of metals like magnesium and iron start dissolving after their work of holding open an artery/vein is done. This eliminates the lifetime risk of complications from a permanent foreign metallic implant in the body. Bioabsorbable metal stents provide a better quality of life for patients in the long run. Most patients only required temporary scaffolding until the vessel heals post angioplasty or surgery. With bioabsorbable metal stents, patients do not have to be on lifelong blood thinners like with permanent metal stents. Additionally, future procedures requiring access to the same vessel, like repeat surgeries, become easier since there is no permanent implant left behind. Studies show that the absorption of the stent is complete within one to two years with surrounding tissue regrowth.