The medical tubing market is expected to grow at a CAGR of 8.2% to reach USD 15.7 billion by 2028 from USD 10.6 billion in 2023. The market growth is driven by various factors, including the significant demand from the healthcare industry. The key global players in the medical tubing market, such as Saint-Gobain (France), Freudenberg Medical (US), W. L. Gore & Associates, Inc. (US), Lubrizol Corporation (US), TE Connectivity (Switzerland), Nordson Corporation (US), Elkem ASA (Norway), Raumedic AG (Germany), Teknor Apex (US), and Spectrum Plastics Group (US) have a strong foothold in their respective regions and are exploring geographic diversification options to expand their businesses. They are focusing on increasing their market shares through new product launches and expansions.
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Saint Gobain
Saint-Gobain is a French multinational corporation that designs, manufactures, and distributes materials and services for the industrial and construction markets. The company is involved in the medical tubing industry through its subsidiary, Saint-Gobain Performance Plastics. Saint-Gobain Performance Plastics specializes in producing a wide range of high-performance materials and components, including medical tubing for healthcare and medical sectors. It offers thermoplastic and fluoropolymer-based medical tubing for application in a multitude of sectors such as hospitals, pharmaceuticals, and laboratories. The company operates through four regional business units including Northern Europe, Southern Europe, Middle East & Africa, Americas, Asia Pacific and a global high performance solutions unit. The company offers medical tubing products under the high performance business unit. The company has operations in Asia, Americas, Europe, and the Middle East & Africa. The company has manufacturing facilities in 75 countries. It is among the largest companies in comparison to other medical tubing companies in terms of revenue generated. They offer a broad portfolio of medical tubing, that covers various medical applications such as minimally invasive surgeries, chemotherapy drug delivery, and dialysis.
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Freudenberg Medical
Freudenberg Medical is a division of the Freudenberg Group, a German family-owned diversified group of companies with operations around the world. Freudenberg Medical engages in the designing, developing, and manufacturing of various medical components and devices. The company offers catheters, hypotubes, balloon & coating solutions for minimally invasive procedures, engineered needles, precision molded components, and medical silicone & plastic tubing. Freudenberg Medical operates under the business segment, specialties business area, of Freudenberg Group. The company has eleven manufacturing operations and corporate branches in Costa Rica, India, China, Ireland, Singapore, US, and Germany. It has a geographic presence in the Americas, Europe, and Asia. Freudenberg Medical expanded its capabilities for manufacturing high-precision multi-layer tubing and launched ultra-thin-wall tubing for peripheral vascular applications. Recently, the company has expanded its medical tubing production in Massachusetts, Cost Rica, and California to increase its silicone extrusion capabilities.
