CHICAGO, April 30, 2020
CHICAGO, April 30, 2020 /PRNewswire/ -- Based on MarketsandMarkets™ report, "COVID-19 Impact on Medical Tubing Market by Material (PVC, TPE & TPU, Polyolefin, and Silicone), Application (Drug Delivery, Bulk Disposable Tubing, Catheters & Cannulas, and Special Applications) and Country - Forecast to 2021" , published by MarketsandMarkets™, the COVID-19 Impact on the global Medical Tubing Market size is expected to grow from USD 2.6 billion in 2020 to USD 2.9 billion by 2021, at a CAGR of 13.2%.
Request for PDF Brochure:
The major factors driving the medical tubing industry include increasing demand from various applications such as drug delivery and growing usage in ventilators.
Silicone to dominate the global medical tubing market during the forecast period
The medical tubing industry has been segmented based on material into silicone, PVC, TPU & TPE, polyolefin, and others. The silicone segment accounted for the largest share of the market in 2020. Silicone is in high demand from various medical applications because of its versatility, high dielectric strength, and semi-permeability to certain materials, making it useful for use in drug-eluting applications.
Drug delivery application to dominate the global medical tubing market during the forecast period
The market has been segmented based on application as drug delivery, catheter & cannulas, bulk disposable tubing, and special application. The drug delivery segment dominates the market in 2020 and is expected to witness significant growth during the forecast period. The growth in this segment is attributed to the growing usage of medical tubes as a device or channel of delivery in drug delivery systems. The demand for drug delivery system is increasing due to the rising incidence of COVID-19 cases, globally. The market is also influenced by growing COVID-19 infection in people having existing medical conditions such as asthma and diabetics. There is considerable growth in the demand for drug delivery devices and equipment such as nasogastric tubes, nebulizers, spacer devices, and others. These factors are expected to drive the demand during the forecast period.
Browse in-depth TOC on "COVID-19 Impact on Medical Tubing Market"
28 – Tables
06 – Figures
63 – Pages
Request more details on:
US expected to have the largest market for medical tubing during the forecast period
The US is projected to be the leading medical tubing market during the forecast period. The growth in the US can be attributed to the rising demand for medical tubing applications such as drug delivery, catheter & cannulas, bulk disposable tubing, and special application. The presence of a robust industrial base, favorable government policies, and large number of established players for medical tubing in the country are strengthening the medical tubing industry in the country.
Zeus Industrial Products (US), Saint Gobain Performance Plastics (France), Teleflex (US), Optinova (US), and Lubrizol Corporation (Vesta) (US), among others, are the key players operating in the medical tubing market.
COVID-19 Impact On Medical Plastics Market by Type (Engineering Plastics and Standard Plastics), Application (Medical Disposables, Prosthetics, Medical Instruments & Tools and Drug Delivery) and Region - Global Forecast to 2021
COVID-19 Impact on Composites Market by Fiber Type (Glass Fiber, Carbon Fiber and Natural Fiber), Resin (Thermoset Resin and Thermoplastic Resin), End-use Industry and Region - Global Forecast to 2021
COVID-19 Impact on Lubricants Market by Product type (Engine Oil, Hydraulic Oil, Compressor Oil, Metalworking Fluid, Gear Oil, Turbine Oil and Grease), End-use Industry and Region - Global Forecast to 2021
COVID-19 Impact on Adhesives & Sealants Market by Resin Type (Emulsion, Polyurethane, Epoxy, EVA, Silicone), Application (Paper & Packaging, Building & Construction, Woodworking, Medical & Hygiene, Automotive & Transportation) - Global Forecast to 2021
COVID-19 Impact on Packaging Market by Material Type (Plastics/Polymers, Paper & Paperboard, Glass And Metal), Application (Healthcare, Food & Beverages, Household Hygiene, Beauty & Personal Care And Electrical & Electronics) And Region - Global Forecast to 2021
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets' flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
Visit Our Website: https://www.marketsandmarkets.com