Global FEP Medical Shrinkage Business Research Report 2024: Market to Reach $210.3 Million by 2030 – North America to Account for Largest Market, Asia-Pacific to Witness Fastest Growth

Dublin, May 22, 2024 (GLOBE NEWSWIRE) — The “FEP Heat Shrink Medical Tubing – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s The offer of

Global Medical FEP Heat Shrink Tubing Market to Reach $210.3 Million by 2030

The global FEP Heat Shrink Medical Tubing market valued at USD 131.8 million in 2023 is projected to reach a revised size of USD 210.3 million by 2030, growing at a CAGR of 6% during the analysis period 2023-2030 . The 1.6:1 shrink ratio, one of the segments analyzed in the report, is projected to register 6.5% CAGR and reach $134.8 million by the end of the analysis period. Growth in the Shrink Ratio 1.3:1 segment is estimated at 5.1% CAGR for the next 8-year period.

The growing preference for plastic-based medical tubing is an important driver, as these materials offer flexibility, durability and biocompatibility. The FEP heat shrink tubing market is particularly driven by the growing demand for microcatheters, which are essential in various minimally invasive procedures. Furthermore, the increase in the aging population globally is driving the growth of the medical FEP heat shrink tubing market, as elderly patients often require more interventions and medical devices.

The worldwide market share competitive scenario highlights the key players in the sector, with percentages reflecting their market dominance. As the market evolves, advances in medical tubing technology and innovations in catheter design are expected to drive further growth and development in this field.

The US market is valued at $49.7 million, while China is projected to grow at 7.6% CAGR

The global market for medical FEP heat shrink tubing is set for rapid growth, driven by increasing demand for medical plastics and increasing need for advanced medical devices. North America currently constitutes the largest market, while the Asia-Pacific region is expected to witness the fastest growth. Demand for medical tubing and catheters continues to expand, with recent market activity reflecting this trend.

The US FEP Heat Shrink Medical Tubing market is valued at USD 49.7 million in 2023. China, the world’s second largest economy, is projected to reach a projected market size of USD 27.9 million by 2030, following a CAGR of of 7.6% during the analysis period 2023 to 2030. Among other important geographic markets are Japan and Canada, each projected to grow by 4.6% and 5.7% respectively during the period 2023-2030. Within Europe, Germany is projected to grow at around 5.5% CAGR.

Main attributes:

The report attribute The details
No. of Pages 357
Forecast period 2023 – 2030
Estimated market value (USD) in 2023 131.8 million dollars
Projected market value (USD) by 2030 210.3 million dollars
Compound Annual Growth Rate 6.9%
Regions covered global

MARKET SUMMARY

  • A prelude to FEB medical heat shrink tubing
  • Global economic update
  • ComPeTITIon
  • FEP Heat Shrink Medical Tubing – Market Share of Global Top Competitors in 2023 (E)
  • Worldwide FEP Heat Shrink Medical Tubing Competitor Market Share Scenario (in %): 2022E
  • Competitive market presence – strong/active/country/irrelevant for worldwide players in 2023 (E)
  • Global Market Outlook and Outlook
  • Global Set FEP Heat Shrink Medical Tubing for Rapid Growth
  • North America accounts for the largest market, Asia-Pacific to witness the fastest growth
  • What’s next for the medical tubing and catheter market?
  • Recent market activity

TRENDS AND INDICATORS

  • Growing demand for medical plastics drives market expansion
  • Plastic-based medical tubes register strong demand
  • Growing demand for microcatheters drives the market for FEP heat shrink tubing
  • The increase in the aging population bodes well for the growth of the medical FEP heat shrink tubing market
  • Surgical Procedure Volumes and Shift to Minimally Invasive Surgeries: Significant Impact on FEP Heat Shrink Tubing Market
  • Increasing incidence of chronic diseases is driving the demand for FEP heat shrinkable medical tubing market
  • Increase health care spending to spur growth
  • Rapid growth of stripped HS pipes
  • Increasing demand for minimally invasive procedures drives interest in peelable heat shrink tubing (PHST) solutions
  • Increasing demand for heat shrink tubing to drive market growth
  • Polyolefin Heat Shrink Tubing Ranks Supreme
  • Increasing demand for FEP HS Sleeving in the medical device industry
  • Miniaturization to make way for future advances
  • Advancing PHST to the next generation
  • Technological Advancements in Heat Shrink Tubing Market
  • Optinova unveils FEP QuickShrink 2.0
  • Ultra-miniature PHSTs facilitate more precise microsurgical procedures
  • Automaton processes to help pipe manufacturers automate their processes for increased efficiency

FOCUS ON SELECTED PLAYERS(Total 60 featured)

  • Adtech Polymer Engineering Ltd
  • APT Advanced Polymer Tubing GmbH from Masterflex Group
  • ElringKlinger Kunststofftechnik GmbH
  • Fluorotherm Polymers, Inc
  • Gremtek SAS
  • Junkosha Inc.
  • Medical Extrusion Technologies Inc.
  • Nordson Corporation
  • I opted
  • Parker-Hannifin Corporation
  • Polyflon Technology Ltd
  • Polyfluor Plastics bv
  • Shanghai Eco Polymer Sci.&Tech. Co., Ltd
  • TE Connectivity Ltd.
  • Tef-Cap Industries Inc.
  • Teleflex incorporated
  • Zeus Industrial Products, Inc.

For more information about this report, visit https://www.researchandmarkets.com/r/yprj5b

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, top industries, top companies, new products and the latest trends.

  • FEP Medical Heat Shrink Tubing Market


            

#Global #FEP #Medical #Shrinkage #Business #Research #Report #Market #Reach #Million #North #America #Account #Largest #Market #AsiaPacific #Witness #Fastest #Growth
Image Source : www.globenewswire.com

Leave a Comment