The Global Medical Metal Tubing Market Growth Accelerated By Rising Demand Of Medical Equipment

 

Medical Metal Tubing Market

Medical metal tubings find wide application in the medical device industry for fluid management, gas delivery, and drainage applications. Metal tubing is preferred over plastic tubing in medical devices as it provides greater durability, better chemical resistance, and higher heat tolerance. Metal tubing is used in medical devices such as ventilators, dialysis machines, respiratory devices, and imaging systems.

The global medical metal tubing market is estimated to be valued at US$ 704.2 Mn in 2023 and is expected to exhibit a CAGR of 2.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Dynamics:

 

The medical metal tubing market is expected to witness high growth over the forecast period owing to rising demand for medical devices. Growing geriatric population and increasing prevalence of chronic diseases is resulting in greater demand for advanced medical devices. Furthermore, ongoing technological advancements are expanding the scope of applications for medical devices. For instance, increasingly sophisticated ventilators, dialysis machines, and imaging systems have enhanced functionalities, further driving demand for medical metal tubings in their manufacturing. Additionally, rising healthcare expenditure globally on advanced medical treatments is also favoring market growth. However, availability of cheaper substitutes such as plastic tubing may hinder market growth to some extent over the forecast period. Do not write anything about key players.

 

SWOT Analysis

 

Strength: Medical metal tubing has key advantages over plastic tubing such as durability, biocompatibility and heat resistance which makes it suitable for several medical applications. The material allows precise bending and shaping without crimping or compression. It can withstand high pressures and temperatures encountered in surgical and diagnostic procedures.

 

Weakness: Metal tubing is heavier than plastic which increases handling and transportation costs. Certain metal alloys are susceptible to corrosion if not properly coated or treated which can release toxic ions. The manufacturing process of metal tubing requires more energy and technical expertise compared to plastic production.

 

Opportunity: Growth in the aging population suffering from chronic diseases is driving demand for medical devices. Metal tubing finds increasing usage in areas such as drug delivery, endoscopy, cardiac, and orthopedic applications. New metal alloy formulations and surface treatment methods can further improve durability and biocompatibility.

 

Threats: Stringent regulatory approvals and certification protocols delay the market entry of new metal tubing products. Substitution threat from advanced plastic variants possessing higher strength and flexibility. Economic slowdowns can negatively impact the discretionary healthcare expenditure on new medical devices and upgrades.

 

 

Key Takeaways

 

The Global Medical Metal Tubing Market Share is expected to witness high growth over the forecast period supported by the rising geriatric population and growing prevalence of lifestyle diseases. The global medical metal tubing market is estimated to be valued at US$ 704.2 Mn in 2023 and is expected to exhibit a CAGR of 2.8% over the forecast period 2023 to 2030.

The Asia Pacific region currently dominates the market share owing to large patient pools, increasing healthcare investments and rapidly developing medical technology sectors across China, India and Southeast Asia. Countries like India, Indonesia and Vietnam are emerging as fast growing opportunities due to growing middle class populations seeking access to advanced healthcare treatments.

 

Key players operating in the medical metal tubing market include The Kraft Heinz Company, Nestlé, The Kellogg Company, Unilever, Calbee, Intersnack Group GmbH & Co. KG. Majority of the demand comes from the production of key medical devices like catheters, wires, cannulas and stent delivery systems. Leading OEMs are actively engaged in new product developments and material innovations to introduce enhanced metal tubing variants catering to specific application needs. Biocompatible cobalt-chromium-nickel alloys and nitinol shape memory metals are finding increasing preference over traditional stainless steel types.

Get More Insights Here

https://www.newswirestats.com/medical-metal-tubing-market-size-share-growth-outlook-2023/