The global medical tubing packaging market has witnessed tremendous growth in the past, owing to greater demand for minimally invasive surgical techniques, globally. The medical tubing packaging market stood at US$ 4,119.2 Mn in 2017, and is forecast to register a CAGR of 6.4% during 2018 – 2026. The medical tubing packaging market is estimated to be valued at US$ 7,208.8 Mn, by the end of the forecast period.
Medical tubing packaging is a category of healthcare packaging which refers to tubing that meets certain medical standards, and can be used for a variety of medical and pharmaceutical applications. The manufacturing process for medical tubing packaging must comply with Good Manufacturing Practice (GMP) and Current Good Manufacturing Practice (cGMP). Performance of medical tubing packaging depends largely on the type of material being used, which in turn depends on the application. For instance, silicone tubing is considered as one of the finest and most efficient, due to the high resistance of Silicone to extreme temperature changes. However, silicone tubing is not recommended for implantable/in-body applications or in treatments which require continuous steaming.
Plastic medical tubing packaging is expected to retain its leading position in the market. This is attributed to several factors such as the growing prevalence of single-use medical tubing applications, which include medical devices such as catheters made from plastics such as PVC. The use of disposable medical components helps surgical centers and clinics avoid the risk of spreading infection, thereby saving significantly on costs. Plastic metal tubing packaging also offers metal-like strength and efficiency in certain areas.
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One of the key areas where plastic medical tubing packaging can fall short in terms of performance as compared to metal medical tubing packaging is – accuracy. In many surgical processes, accuracy of tubing shape is crucial and may even lead to fatal result if inaccurate. Plastic material although is cost-effective, cannot be cut as accurately as metals. Several plastic materials have been considered in the study, wherein, PVC, PA, PP, and TPE have been found to be in the leading position.
This is attributed to their unique combination of performance and cost. Also, plastics such as PEEK are expected to witness rise in market share due to their usefulness in niche medical applications. PEEK is also widely regarded as a good replacement for stainless steel medical tubing packaging. Some of the desirable features which make PEEK one of the top choices for medical tubing packaging are light weight, biocompatibility, and high lubricity, which aids easy insertion in the human anatomy.
Furthermore, PEEK is chemically inert, and has high tensile strength – features which are highly desirable in medical tubing packaging applications. TPE is widely marketed as plasticizer-free, and therefore, replaces PVC in many areas, especially when special features are required. As a plastic, TPU has decent resistance to heat, and also scores well in terms of durability. However, the high cost of TPU is expected to be a demerit.
To estimate the market size in terms of value and volume, the revenue generated by key manufacturers of medical tubing packaging, and their corresponding production capacity has been taken into consideration. As an initialization of the study, the current market size was estimated, along with the tracking of historical growth in market size. This formed the basis on how the medical tubing packaging market is expected to shape up in the future.
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The market was assessed by a three-pronged approach – by tracking the supply side, downstream industry, and the economic envelope. In addition, it should be noted that in an ever-fluctuating global economy, TMR not only conducts forecasts in terms of CAGR, but also analyses the market based on key parameters, such as year-on-year (Y-o-Y) growth rates, to understand the predictability of the medical tubing packaging market and identify the right opportunities across the market.
The market has also been assessed on the basis of segment-wise Y-o-Y growth rates. This detailed level of information is important for identifying key trends in the medical tubing packaging market. Another key feature of global medical tubing packaging market is the analysis of the market in terms of absolute dollar opportunity. Absolute dollar opportunity is critical for evaluating the scope of opportunity that a provider can look to achieve, as well as to identify potential resources from a delivery perspective of the medical tubing packaging market. The overall absolute dollar opportunity along with the segmental split is mentioned in global medical tubing packaging market report.
