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

The US medical tubing market size is estimated to be valued at USD 2.6 billion in 2020 and projected to reach USD 2.9 billion by 2021, at a CAGR of 13.2% during the same period. The demand for medical tubing is driven mainly by its growing demand in various applications such as drug delivery, catheter & cannulas, bulk disposable tubing, and special application.

Based on material, silicone segment is expected to be the most significant contributor in the medical tubing market.

The silicone segment is estimated to have the highest market share during the forecast period. The growth in this segment is attributed to its increasing demand from various medical applications as silicone is a versatile material and has high dielectric strength and semi-permeability to certain materials, making it useful for use in drug-eluting applications. Furthermore, silicone possesses various unique properties such as resistance to high temperature, water resistance, mechanical strength, and durability. The factors mentioned above are expected to drive demand during the forecast period.

 

By application, drug delivery segment is expected to be biggest consumer of medical tubing.

Based on application, the drug delivery segment is expected to account for the largest share of the market in 2020. The growth in this segment is attributed to 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 demand during the forecast period.

US is expected to account for the largest market share during the forecast period.

The US is the largest and fastest-growing medical tubing market, owing to the increasing usage in various medical applications such as drug delivery, catheter & cannulas, bulk disposable tubing, and special application. Furthermore, the presence of a robust industrial base and large number of established manufacturers of medical tubing in the country are strengthening the market in the country. These factors are expected to fuel the demand for medical tubing in the country during the forecast period.

 

Source:https://www.marketsandmarkets.com/Market-Reports/covid-19-impact-on-medical-tubing-market-165863042.html