May 24, 2024

Medical Metal Tubing Market Growth Is Thriving On Innovation By 3D Printing.

The medical metal tubing market comprises seamless and welded metal tubing used in a variety of medical devices and equipment. Metal tubing is used for its durability, corrosion resistance, and ability to withstand high pressures. Stainless steel and alloys like nitinol are commonly used for their biocompatibility. Medical tubing finds applications in equipment like catheter systems, guidewires, cannulas and biopsy devices where precise sizing and mechanical properties are important. The advantages of metal tubing include flexibility, kink resistance, and affordability compared to other materials like plastics.

The Global Medical Metal Tubing Market is estimated to be valued at US$ 811.24 Mn in 2024 and is expected to exhibit a CAGR of 2.8% over the forecast period 2024 to 2030.

Key Takeaways
Key players: Key players operating in the Medical Metal Tubing Market Growth are The Kraft Heinz Company, Nestlé, The Kellogg Company, Unilever, Calbee, Intersnack Group GmbH & Co. KG.

The Kraft Heinz Company is a leading player and manufactures various kinds of metal tubes for medical devices. Nestlé offers high quality stainless steel tubing.

Growing demand: There is a rising need for minimally invasive procedures which is fueling demand for specialty metal tubing used in devices like catheters. An aging population also drives growth.

Global expansion: Key manufacturers are expanding globally to cater to the growing medical industries in emerging nations. The Kraft Heinz Company recently set up a new factory in China.

Market key trends
3D printing technology is enabling more complex geometries in metal tubing which can improve performance of devices. Researchers are exploring 3D printed nitinol for customized medical implants. This trend allows for innovative product development in the medical tubing market.

Porter’s Analysis

Threat of new entrants: It is moderately difficult for new companies to enter this market due to requirement of huge capital investment for setting up a manufacturing plant, achieving economies of scale, brand recognition etc.

Bargaining power of buyers: Buyers have moderate bargaining power in this market as there are many established players. However, products offered by different companies are substitutable.

Bargaining power of suppliers: Suppliers have moderate to high bargaining power as raw materials used are specialty metals which have limited sources of supply globally.

Threat of new substitutes: Threat of new substitutes is low as there are limited alternatives available for delivery of fluids and gases in medical equipment.

Competitive rivalry: The market is moderately competitive due to presence of large multi-national brands and regional mid-sized players.

Geographical regions: North America region is currently holding around 35% share of the global medical metal tubing market in terms of value due to high healthcare spending and technologically advanced healthcare infrastructure in countries like US and Canada.

Asia Pacific region is projected to witness fastest growth during the forecast period majorly due to increasing healthcare spending, rising prevalence of chronic diseases, growing medical device industry and rapid infrastructure development in countries like China and India.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it