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Medical Tubing Market and its key opportunities and challenges

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Medical Tubing Market and its key opportunities and challenges

October 26
18:46 2019
Medical Tubing Market and its key opportunities and challenges

Browse 86 market data Tables and 28 Figures spread through 142 Pages and in-depth TOC on “Medical Tubing Market”
Medical Tubing Market by Material (PVC, Polyolefin, TPE & TPU, and Silicone), Application (Bulk Disposable Tubing, Catheters & Cannulas, Drug Delivery Systems, and Special Applications), Structure, and Region.

The global Medical Tubing Market was valued at USD 5.64 Billion in 2016 and is estimated to grow at a CAGR of 9.0% between 2017 and 2022, as per a report by MarketsandMarkets. 

Downloads PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=162082103

Browse 86 market data Tables and 28 Figures spread through 142 Pages and in-depth TOC on“Medical Tubing Market”

How innovation and customization of polymers and tubing structure is an opportunity?

The need for customized products to provide properties such as biodegradability, radio-opacity, and antimicrobial properties is creating high growth opportunities for the market. Leading medical polymer supplying companies such as Eastman, Lubrizol, Evonik, and DuPont are spending significantly on developing innovative polymers for the medical industry. The use of engineering plastics in the medical industry has increased manifold over the last decade. These engineering plastics are replacing traditional materials such as metals, ceramics, and glass.

The extruders such as Microspec, Vention Medical, MicroLumen, and Raumedic are increasingly developing customized tubes, as these smaller and lightweight tubes can be easily used in less invasive procedures. The manufacturers provide customized single-lumen, multi-lumen, and co-extruded tubes with a different combination of polymers according to the applications. Such developments provide new opportunities for the growth of the medical tubing market.

Request for Sample of this Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=162082103

Why stringent regulatory policies remain a challenge?

Stringent regulatory policies hamper the commercialization of medical products. Regulating agencies such as Food and Drug Administration (FDA), National Science Foundation (NSF), Drug Administration (DA), and Center for Devices and Radiological Health (CDRH) set regulations for the production of medical tubing. Safety and prevention of health hazards are important while using medical tubing because they come in direct contact with the body.

The regulatory requirements and the time needed to complete the approval procedure differ from one region to another. The approval process also varies according to the class of medical devices. In the US, the device manufacturer receives a marketing clearance or an approval letter from the FDA. In the European Union, the manufacturer uses Conformité Européene (CE) mark on the device after receiving the CE certificate from the regulatory body. In Canada, a device license is awarded by the Therapeutic Products Directorate. In Australia, the Therapeutic Goods Administration issues an Australian Register of Therapeutic Goods (ARTG) number to the devices cleared for the market. The complexity of getting regulatory approval from a country may compel the device manufacturers to shift their base to another country.

About MarketsandMarkets™

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’s 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.

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Website: https://www.marketsandmarkets.com/Market-Reports/medical-tubing-market-162082103.html

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