by Medical tubing refers to specialized plastic or rubber tubing that is used for fluid and gas transfer in medical equipment and devices. Medical tubing finds applications in a variety of medical devices and equipment such as respiratory equipment, IVs and catheters, drug delivery systems, biopharma processing equipment and more.
Medical tubing helps in drug administration, nutrition supply, drainage of body fluids and connection of medical instruments. It provides safe, flexible and durable fluid pathways. The growing demand for minimally invasive surgeries and rising prevalence of chronic diseases are key factors driving the demand for medical tubing in Australia.
Australia medical tubing market in Australia is estimated to be valued at US$ 599.47 Mn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Australia medical tubing market are Abbott, Dexcom, Inc., Medtronic, Senseonics, Inc., F. Hoffmann-La Roche Ltd., GLUCOVATION, INC., Nemaura Medical Inc., GlySens, GlucoModicum, and Signos, Inc. The key players are focused on developing innovative tubing products for advanced medical devices and equipment.
The Australia medical tubing market provides numerous opportunities for players to expand their product portfolio and customer base. The growing geriatric population, increasing healthcare expenditure and demand for home healthcare are expected to drive the overall market demand.
The companies are expanding their operations across major cities in Australia to cater to the rising demand. Supportive government initiatives and availability of skilled labor are encouraging established players to make further investments. Partnerships with healthcare facilities are helping firms strengthen distribution networks in the region.
Market Drivers
The rising prevalence of chronic diseases such as diabetes, cancer and cardiovascular diseases is the major factor driving the Australia medical tubing market growth. As per estimates, over 4 million Australians suffer from some form of chronic disease. The increasing diabetes incidence rate has boosted the demand for medical devices requiring tubing significantly. Further, the growing healthcare expenditure and demand for minimal invasive surgeries are augmenting the adoption of medical tubing during the forecast period.
PEST Analysis
Political: Regulations regarding manufacturing and quality standards for medical tubing are imposed by regulatory bodies like Therapeutic Goods Administration (TGA) to ensure safety and efficacy of products.
Economic: Growth in the healthcare spending along with increasing number of surgical procedures are driving the demand for medical tubings.
Social: High prevalence of chronic diseases like diabetes and cardia conditions among aging population is boosting the need for continuous monitoring through medical tubing based devices.
Technological: Advancements in material science and manufacturing processes are leading to development of biocompatible tubing with enhanced durability and flexibility suitable for long term usage. Integration of smart sensors in tubing is also improving monitoring accuracy.
Geographic Concentration Of Market:
Within Australia, hospitals and clinical facilities located in highly populated regions of New South Wales, Victoria and Queensland account for over 60% of the medical tubing demand in terms of value. Easy availability of skilled workforce and local manufacturing base supports high consumption in these states.
Fastest Growing Region:
Western Australia is emerging as one of the fastest expanding market for medical tubings. Rising healthcare expenditure, increasing number of private hospitals and growing geriatric population diagnosed with chronic diseases in the region is fueling the regional market growth at over 10% annually during the forecast period.
What Are The Key Data Covered In This Australia Medical Tubing Market Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Australia Medical Tubing Market’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Australia Medical Tubing Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Australia Medical Tubing Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Australia Medical Tubing Market vendors
FAQ’s
Q.1 What are the main factors influencing the Australia Medical Tubing Market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Australia Medical Tubing Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Australia Medical Tubing Market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Alice Mutum
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. LinkedIn
