by Medical metal tubing products including stainless steel tubes, hypodermic tubing, seamless drawn tubing and electro-polished tubing are widely used in various medical devices and equipment. These tubes help in fluid or gas transfer, electrical conduction, structural support and other applications. Due to their high strength, biocompatibility and corrosion resistance properties, medical metal tubing finds applications in different medical devices such as catheter systems, biopsy devices, wound drainage tubes, surgical implants and respiratory equipment. The growing use of minimally invasive surgical procedures and rising demand for advanced medical equipment is fueling the demand for high quality medical metal tubing.
The global medical metal tubing market is estimated to be valued at US$ 704.2 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: One of the key trends in the medical metal tubing market is the rising adoption of nitinol tubing. Nitinol tubing made from nickel-titanium alloy exhibits shape memory properties and excellent biocompatibility. It is increasingly used in cardiovascular devices and minimally invasive surgical tools due to its flexibility to achieve desired shapes. The shape memory effect enables nitinol tubing to recover its original shape on heating thus making it suitable for flexible endoscopes and catheters. Moreover, nitinol tubing provides kink resistance and compressive stiffness which reduces procedural complications. Owing to its advantages, the demand for nitinol tubing in medical devices is expected to grow substantially over the forecast period.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established global players make it difficult for new players to enter.
Bargaining power of buyers: Large medical device manufacturers possess significant bargaining power as buyers.
Bargaining power of suppliers: Key raw materials like stainless steel are commoditized, giving suppliers moderate bargaining power.
Threat of new substitutes: Limited threat as medical-grade materials have few viable substitutes for critical medical applications.
Competitive rivalry: Intense competition among top players to gain market share and dependence on major customers.
Key Takeaways
The global Medical Metal Tubing Market is expected to witness high growth. The global medical metal tubing market is estimated to be valued at US$ 704.2 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.
Regional analysis
North America dominates the global Medical Metal Tubing Market Growth due to presence of major players and availability of advanced healthcare facilities. Asia Pacific is expected to grow at a fastest pace during the forecast period driven by increasing healthcare expenditures and improving healthcare infrastructure in countries like China and India.
Key players
Key players operating in the Medical Metal Tubing Market are AMETEK Inc., Alleima, Teshima International Corporation, Om Steel Tubes Ltd., Tech Tube, Inc., Bison Stainless Tube, LLC, Vita Needle Company, M&M International, Fuji Seiko, Accu-Tube, Eagle Stainless Tube & Fabrication, Inc., Forefront Medical Technologies, Minitubes, Teleflex Incorporated, VIANT, and K-Tube Technologies. AMETEK Inc. and Alleima are recognized as leading suppliers of precision medical metal tubes globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
