Medical Metal Tubing Market Poised For Steady Growth Due To Rising Demand For Minimally Invasive Surgeries

Medical Metal Tubing Market

Medical metal tubing products are used in various medical devices and equipment due to their corrosion resistance properties and biocompatibility. Metal tubing is used for applications such as biopsy devices, catheters, guidewires, perfusion sets, and other specialized medical devices. Given their precise dimensions and mechanical strength, metal tubes provide durability as well as reliability under stress or pressure conditions.

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 driving the growth of the medical metal tubing market is the rising demand for minimally invasive surgeries. Minimally invasive procedures require highly precise and thin walled metal tubing for applications such as catheters, guidewires etc. These procedures cause lesser cut or incisions resulting in reduced scarring, less pain and shorter hospital stays for patients. Metal tubing manufacturers are focusing on developing tubing with ultra-thin walls and diameters below 1mm to meet the intricate requirements of minimally invasive medical device components. The increasing adoption of minimally invasive surgeries globally will augment the demand for specialized metal tubing over the forecast period.

Segment Analysis
The global medical metal tubing market is dominated by the stainless steel sub segment. Stainless steel accounts for over 60% of the total market share due to its properties like corrosion resistance, durability and biocompatibility. It finds wide application in medical devices, implants and surgical instruments where its material properties complement medical requirements.

Key Takeaways
The global Medical Metal Tubing Market Growth is expected to witness high growth over the forecast period of 2023 to 2030. The growing demand for minimally invasive surgeries and rising prevalence of chronic diseases are driving the demand for medical metal tubing.

Regional analysis
North America currently dominates the global medical metal tubing market with over 35% share due to presence of major players and advanced healthcare infrastructure in the region. Asia Pacific is expected to be the fastest growing market during the forecast period supported by rising healthcare expenditure, increasing medical tourism and expansion of manufacturing facilities by key players in developing 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 account for majority share of the market due to their diverse product portfolio and global presence.

For more insights, read- https://www.ukwebwire.com/medical-metal-tubing-market-trends-size-and-share-analysis/