HOME Research Insight New Product Launches, Expansions, Acquisitions, and Joint Ventures as Key Growth Strategies in the Global Medical Tubing Market



New Product Launches, Expansions, Acquisitions, and Joint Ventures as Key Growth Strategies in the Global Medical Tubing Market


Medical tubing is a polymer-based tube produced by an extrusion process and is used in drug delivery systems, peristaltic pumps, feeding tubes, and so on. These tubes have exceptional mechanical, thermal, and chemical properties, and are used in a wide range of minimally invasive critical applications such as cardiovascular catheters, stent delivery systems, urological retrieval devices, and drug delivery.

The global medical tubing market is projected to reach USD 9.38 Billion by 2022, registering a CAGR of 9.0% between 2017 and 2022. The increase in the aging population, shift toward minimally invasive medical procedures, increasing demand for medical devices that incorporate tubing, and growing awareness and government initiatives to provide high-quality healthcare facilities are key factors fueling the demand for medical tubing around the world. However, the stringent and time-consuming regulatory policies is one of the key challenges faced by manufacturers of medical tubing.

Key companies profiled in this report include Zeus Industrial Products (U.S.), Saint-Gobain Performance Plastics (France), Teleflex (US), Optinova (US), Lubrizol Corporation (Vesta) (US), Nordson Corporation (US), Putnam Plastics (US), RAUMEDIC AG (Germany), Tekni-Plex (US), and W. L. Gore & Associates (US). The growing awareness and government initiatives to provide high-quality healthcare facilities have encouraged companies to adopt several business strategies to stay competitive in the global market between 2015 and 2018. Leading companies have adopted New Product Launches, Expansions, Acquisitions, and Joint Ventures as Key Growth Strategies in the Global Medical Tubing Market.

Zeus Industrial Products (US), one of the biggest medical tubing manufacturers in the world, has adopted expansion as its key strategy. In February 2018, the company expanded its present manufacturing facilities in Calhoun County (US), Orangeburg County (US), and Aiken County (US) with an investment of USD 76.0 Million, USD 15.9 Million, and USD 15.7 million respectively. The expansion is in response to the increasing demand for medical tubing and is expected to be completed by 2019.

Saint-Gobain Performance Plastics (France) has considered expansion as one of its key strategies to stay competitive in the global medical tubing market. In July 2017, the company expanded its molding and extrusion operation facilities with an investment of USD 25.00 million. The company plans to add more than 74,000 square feet of manufacturing space to cater to the increasing demand for medical tubing, especially from the medical industry.

Related Reports:

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 - Global Forecast to 2022

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