July 24, 2024
Medical Metal Tubing Market

Growth Accelerated by Increasing Application Across Healthcare Industry

Medical metal tubing is extensively used in healthcare applications such as medical devices, equipment, and instruments due to its inherent properties like strength, durability and biocompatibility. Metal tubes find application in surgeries, dental and ophthalmic equipment, prosthetics, fluid transfer and more. They are critical components in equipment that analyse and monitor vital body parameters as well as technologies that diagnose and treat 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 2.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends driving the medical metal tubing market is the growing demand for minimally invasive surgeries and increasing preference for polymeric and coated metal tubes. Minimally invasive procedures require narrow diameter tubing with thin walls to navigate through small incisions or body lumens. Polymers and surface coatings on metal tubing enhance lubricity and biocompatibility while reducing friction during insertion and withdrawal of equipment. This has increased application of specialized metal tubes in advanced medical technologies like catheterization, endoscopy etc. accelerating market growth.

Segment Analysis

The global medical metal tubing market is dominated by stainless steel sub segment. Stainless steel accounts for over 60% of the total medical metal tubing market owing to its corrosion resistance, high strength and flexibility. It finds wide applications in medical equipment such as endoscopy tubes, guide wires etc. The titanium sub segment is expected to witness fastest growth during the forecast period due to increasing preference for lightweight and bio compatible materials in medical implants.

Key Takeaways

The Global Medical Metal Tubing Market Share is expected to witness high growth. North America currently dominates the global market owing to advance healthcare infrastructure and high adoption of minimally invasive surgeries in countries like United States and Canada. Asia Pacific is expected to be the fastest growing regional market with countries like China, India and Japan ramping up healthcare spending and healthcare infrastructure.

Regional analysis
North America accounts for over 35% of the global medical metal tubing market led by United States. Growing elderly population, rising chronic diseases, increasing healthcare expenditure and high preference for minimally invasive surgeries are driving the demand for medical metal tubing in North America. Asia Pacific medical metal tubing market is projected to grow at a CAGR of 5.2% during the forecast period with China and India emerging as high potential markets. Improving access to healthcare through various government initiatives and growing medical tourism are fueling the demand.

Key players
Key players operating in the medical metal tubing market are Adelaide Brighton Ltd, Boral Ltd., Sibelco Australia, Omya Australia Pty Ltd, Wagners, and Lime Group Australia. Adelaide Brighton Ltd is one of the largest producers of medical metal tubing with presence across major markets. Boral Ltd offers an extensive range of specialty steel, titanium and polymer tubing catering to different medical applications.

Note:
Source: Coherent Market Insights, Public sources, Desk research
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