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Expansions and Mergers & Acquisitions & Joint Ventures are the Key Strategies Adopted by Leading Market Players in Medical Tubing Market
Expansions and mergers & acquisitions & joint ventures are the key strategies adopted by the industry players to gain traction in the medical tubing market. The strategy accounted for 57.6% of all the growth strategies adopted by market players between 2011 and 2016. Freudenberg Medical, LLC (U.S.), a leading market player, has adopted expansion as its primary growth strategy. The companies also adopted the strategy of mergers & acquisitions and joint venture to expand their regional reach. This approach accounted for 26.9% of all the growth strategies adopted by market players during the above-mentioned period. Partnership, & collaborations & agreements accounted for 11.5% of all the growth strategies followed by market players in the medical tubing market between 2011 and 2016.
North America was the most active regions, in terms of strategic initiatives undertaken between 2011 and 2016. Expansions and mergers, & acquisitions & joint ventures were the most favored strategy in North America. Companies such as Freudenberg Medical, LLC (U.S.), Saint-Gobain Performance Plastics (U.S.), and Vention Medical Inc. (U.S.) made several expansions and mergers & acquisitions, & joint ventures to cater to customers more efficiently and increase their market shares.
Major manufacturers, including Saint-Gobain Performance Plastics (U.S.), Freudenberg Medical, LLC (U.S.), W.L.Gore & Associates, Inc. (U.S.), Dow Corning Corporation (U.S.), Vention Medical Inc. (U.S.), have been profiled in this report. These companies have adopted both, organic and inorganic growth strategies such as expansion, mergers & acquisitions, joint ventures, partnerships & agreements and new product launches to strengthen their foothold in the medical tubing market.
Bluestar silicones International (France), Vention Medical Inc. (U.S.), Raumedic AG (Germany) and Freudenberg Medical, LLC (U.S.) accounted for the largest share of all the development activities in the market. The company follows dynamic growth strategies, focusing on new product launches, expansions, and agreements & joint ventures to increase its presence in the North America and Asia-Pacific regions. In 2016, Bluestar Silicones International established a new plant in Joinville and headquarters in Sao Paulo. Through this, Bluestar Silicones has gained more competitive advantages with regard to costs, logistics, and structure, which has helped the company to focus on the emerging markets. Raumedic AG signed a partnership agreement with Sartorius Stedim Biotech (Germany). According to the agreement, both companies will develop innovative fluid systems and also do the marketing of single-use tubing. . The market players have tried to gain competitive advantage, by adopting these strategies, which has enhanced their regional footprint.
Vention Medical Inc. (U.S.) and Freudenberg Medical, LLC (U.S.) have gained a strong foothold in the medical tubing market. It is focusing on organic growth and has enhanced its product portfolio through various growth strategies, such as expansions and joint ventures, to meet the growing demand from customers. Lubrizol LifeSciences announced an investment of USD15 million in its subsidiary Vesta Inc. (U.S.), a manufacturer of medical devices. The market player has tried to gain competitive advantage by adopting these strategies, which has enhanced their regional footprint as well as expanded the scope of medical tubing markets.
Medical Tubing Market by Material (PVC, Polyolefin, TPE & TPU, Silicone, Others), Structure, Application (Bulk Disposable Tubing, Catheters & Cannulas, Drug Delivery Systems) - Global Trends & Forecasts to 2021
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