Artificial Intelligence
[Latest] Global Surgical Tubing Market Size/Share Worth USD 4200 Million by 2030, Growing at a CAGR of 8.0%: Zion Market Research (Industrial Trends, Report, Analysis, Players, Outlook, Forecast, Growth, Value, Segmentation)
NEW YORK, United States, June 28, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Surgical Tubing Market Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database. According to the latest research study, the global surgical tubing market size was valued at USD 2200 million in 2022 and it is expected to surpass around USD 4200 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 8.0% during the forecast period 2023 to 2030.
Surgical Tubing Market Overview:
Surgical tubing is a flexible and hollow tube specifically designed for medical and surgical applications. It is an essential component used in a wide range of medical procedures, providing a conduit for fluid transfer, drainage, suction, and other functions within the healthcare industry. Surgical tubing is commonly made from various materials, including natural rubber, synthetic materials such as silicone and latex, and thermoplastic elastomers like polyvinyl chloride (PVC). Each material offers specific properties such as flexibility, durability, biocompatibility, and resistance to chemicals and sterilization methods, making them suitable for different medical applications.
The tubing is available in various sizes, diameters, and lengths to accommodate different medical requirements. The dimensions are chosen based on factors such as the intended use, flow rate of fluids, compatibility with medical devices, and anatomical site of application. Surgical tubing can be customized to meet specific needs, such as reinforced walls for added strength or specialized connectors or adaptors. In medical settings, surgical tubing finds wide application in procedures such as intravenous therapy, blood transfusions, enteral feeding, catheterization, respiratory support, wound drainage, and many more. It plays a vital role in maintaining the sterility of the surgical environment, facilitating fluid management, and ensuring patient safety.
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Global Surgical Tubing Market: Growth Factors
The primary drivers driving the global surgical tubing market are the growing incidence of chronic diseases among individuals and the increase in the elderly population throughout the world, which is raising the need for healthcare services. The market is impacted by government attempts, particularly in developing countries, to improve the healthcare infrastructure as well as increased financing and investment from both the public and private sectors. The necessity for single-use or disposable healthcare devices increases because of the growing population concerned about hospital-acquired infections, which also serves as a major market driver for surgical tubing.
The expansion of the surgical tubing market is accelerated by the trend toward less invasive medical procedures and the rise in demand for surgical instruments, including tubing, from the healthcare industry. Additionally, growing healthcare costs, increased disposable income, higher living standards, and manufacturing alliances all have a beneficial impact on the surgical tubing industry. Additionally, the expansion of the medical industry and the rising popularity of minimally invasive operations present the lucrative potential for market participants for surgical tubing throughout the anticipated timeframe.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 2200 Million |
| Projected Market Size in 2030 | USD 4200 Million |
| CAGR Growth Rate | 8.0% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | Saint-Gobain Performance Plastics, Zeus Industrial Products Inc, Teleflex Incorporated, RAUMEDIC AG, W. L. Gore & Associates Inc., Tekni-Plex., Kent Elastomer Products, THE RUBBER COMPANY, Freudenberg, MicroLumen Inc., Gray Line Corporation Inc., Polyzen, AP Technologies Group Pte Ltd., A.P. Extrusion Incorporated, Cook Medical, B. Braun Melsungen AG, D&B Industrial Group, Medtronic, MDC, and Lvd Biotech among others. |
| Key Segment | By Material, By Structure, By Application, By End User, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Surgical Tubing Market: Segmentation Analysis
The global surgical tubing industry is segmented based on material, structure, application, end user, and region.
Based on the material, the global market is bifurcated into polyvinyl chloride, thermoplastic elastomer, thermoplastic polyurethane, silicone, and others. The thermoplastic elastomer segment is expected to capture a considerable market share during the forecast period. TPEs are a class of polymers that combine the characteristics of elastomers (rubber-like elasticity) and thermoplastics (moldability and processability). They offer a balance of flexibility, durability, and ease of manufacturing. Additionally, TPE surgical tubing finds application in various medical procedures and settings. It is used in intravenous therapy, blood transfusions, catheterization, respiratory support, wound drainage, and other fluid transfer applications. TPE tubing’s flexibility and biocompatibility make it suitable for applications requiring easy manipulation and patient comfort. Thus, the properties and wide range of applications of TPEs are expected to fuel the growth of the industry.
Based on the structure, the global surgical tubing industry is divided into single-lumen, multi-lumen, braided tubing, and others. Based on the application, the global surgical tubing industry is bifurcated into orthopedic surgery, neurosurgery, trauma surgery, and others. Based on the end user, the market is segmented into hospitals and clinics, ambulatory surgical centers, and others.
The global Surgical Tubing market is segmented as follows:
By Material
- Polyvinyl Chloride
- Thermoplastic Elastomer
- Thermoplastic Polyurethane
- Silicone
- Others
By Structure
- Single-Lumen
- Multi-Lumen
- Braided Tubing
- Others
By Application
- Orthopedic Surgery
- Neurosurgery
- Trauma Surgery
- Others
By End User
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Others
Browse the full “Surgical Tubing Market By Material (Polyvinyl Chloride, Thermoplastic Elastomer, Thermoplastic Polyurethane, Silicone, And Others), By Structure (Single-Lumen, Multi-Lumen, Braided Tubing, And Others), By Application (Orthopedic Surgery, Neurosurgery, Trauma Surgery, And Others), By End User (Hospitals & Clinics, Ambulatory Surgical Centers, And Others) And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030″- Report at https://www.zionmarketresearch.com/report/surgical-tubing-market
Competitive Landscape
Some of the main competitors dominating the global Surgical Tubing market include –
- Saint-Gobain Performance Plastics
- Zeus Industrial Products Inc
- Teleflex Incorporated
- RAUMEDIC AG
- W. L. Gore & Associates Inc.
- Tekni-Plex.
- Kent Elastomer Products
- THE RUBBER COMPANY
- Freudenberg
- MicroLumen Inc.
- Gray Line Corporation Inc.
- Polyzen
- AP Technologies Group Pte Ltd.
- A.P. Extrusion Incorporated
- Cook Medical
- B. Braun Melsungen AG
- D&B Industrial Group
- Medtronic
- MDC
- Lvd Biotech
- Others.
Key Insights from Primary Research:
- According to the analysis shared by our research analyst, the Surgical Tubing market is likely to expand at a CAGR of around 8.0% during the forecast period (2023-2030).
- In terms of revenue, the Surgical Tubing market size was valued at around US$ 2200 million in 2022 and is projected to reach US$ 4200 million by 2030.
- The growing prevalence of chronic disease coupled with the rising geriatric population is expected to drive the growth of the surgical tubing market over the forecast period.
- Based on the material, the polyvinyl chloride segment is expected to dominate the market during the forecast period.
- Based on the application, the orthopaedic surgery segment is expected to capture the largest market share during the forecast period.
- Based on region, North America is expected to dominate the market during the forecast period.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Surgical Tubing industry?
- What are the main driving factors propelling the Surgical Tubing Market forward?
- What are the leading companies in the Surgical Tubing Industry?
- What segments does the Surgical Tubing Market cover?
- How can I receive a free copy of the Surgical Tubing Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Material, By Structure, By Application, By End User, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
North America is expected to dominate the market over the forecast period. The growth in the region is driven by several factors such as increasing surgical procedures, the presence of key market players, stringent regulatory standards, technological advancements, rising orthopedic implants, and the growing prevalence of chronic disease. For instance, North America witnesses a high volume of surgical procedures, including various surgeries ranging from routine to complex. Surgical tubing is an essential component used in these procedures for fluid transfer, drainage, and other functions, contributing to the growth of the market.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
- In November 2022, GlobalMed Inc. (Canada) and Schauenburg-Truplast (China) has been acquired by Molded Devices, Inc. (MDI), a producer of high-precision, value-added plastic component manufacturing solutions for medical and non-medical applications. Through the worldwide expansion plan, the merging of GlobalMed and MDI significantly strengthens their capabilities for medical device OEMs.
To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/surgical-tubing-market
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Gupshup collaborates with Philippines’ leading Neobank Tonik, offers Generative AI chatbot to bring innovation in digital banking
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Tonik is the first digital bank in the Philippines to leverage Generative AI for customer service. By integrating the chatbot into their mobile app, Tonik Bank aims to provide their customers with instant access to information, reducing wait times and improving overall satisfaction.
“The integration of Gupshup’s ACE LLM into our operations has been truly transformative. We’ve witnessed significant value in its ability to automate routine tasks, elevate customer service, and boost our overall efficiency. This technology has the potential to revolutionize our operations, and we are excited to further explore its capabilities and implement it across our business,” said Sateesh Reddy, Deputy Chief Technology Officer of Tonik Bank.
Since the implementation of Gupshup’s technology, nine out of ten customer queries are now directed through Tonik’s in-app chat feature, where the AI autonomously resolves 75% of the queries without human intervention. This has not only amplified the efficiency of Tonik’s in-house customer care team by 4.3 times but also empowered them to dedicate more time to resolving intricate issues, ensuring that customers receive the personalized support they need.
The Generative AI chatbot solution is expected to generate significant cost savings for Tonik, with an estimated total of over USD 20 million over the next three years.
“Our partnership with Tonik Bank exemplifies the future of BFSI. As the sector evolves, Gen AI will be crucial to deliver seamless, personalized, and efficient customer experiences. Our chatbot solution is designed to do just that, empowering banks like Tonik to focus on what matters most – building strong relationships with their customers,” said Beerud Sheth, Co-founder and CEO of Gupshup.
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The global contextual advertising company enters the Australian market with acquisition of JustEggs, expanding its footprint in the APAC region
SYDNEY, July 2, 2024 /PRNewswire/ — Seedtag, the global leader in contextual advertising, announced today that the company has acquired JustEggs, an Australian-owned creative intelligence business that drives measurable digital solutions for brands and advertisers. The acquisition is a strategic move to support business growth across the APAC region by introducing Seedtag’s proprietary contextual AI technology, Liz, to the Australian market.
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About The Trade DeskThe Trade Desk™ is a technology company that empowers buyers of advertising. Through its self-service, cloud-based platform, ad buyers can create, manage, and optimize digital advertising campaigns across ad formats and devices. Integrations with major data, inventory, and publisher partners ensure maximum reach and decisioning capabilities, and enterprise APIs enable custom development on top of the platform. Headquartered in Ventura, CA, The Trade Desk has offices across North America, Europe, and Asia Pacific. To learn more, visit thetradedesk.com or follow us on Facebook, Twitter, LinkedIn and YouTube.
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