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    Medical Specialty Tubes Market Report

    Medical Specialty Tubes Market Report
    Report code - SR1906 Published On : Mar,2022 No. of Pages: 140
    Medical Specialty Tubes Market Size, Share, Trend, Forecast, Competitive Analysis, and Gro See more...

    Market Highlights

    The global spending on healthcare more than doubled over the past two decades, reaching ~US$ 8.7 trillion in 2020, with high-income countries accounting for approx. 80% share. Generally, the healthcare industry follows the global health spending trajectory, whose impact is apparent in the entire supply chain including medical devices, components, sub-components (such as tubes), etc.

    In the medical industry, tubes are used in many applications. Each application requires tubes that meet a particular set of specifications. Manufacturing methods are evolving to meet those specs and to produce ever more elaborate designs, one such design is specialty tubes. Medical specialty tubes are manufactured for a range of medical applications, from dental implants and coronary stents to trauma nails and leg screws.

    The medical specialty tubes market suffered a significant decline of 4.3% in 2020 due to the global economic recession led by COVID-19. The market suffered a slow growth, following the outbreak of the pandemic. Key challenges that arose in front of the industry stakeholders on account of the pandemic were supply chain disruptions, cash flow constraints, and temporary shutdown in production facilities. The overall demand for medical specialty tubes was reduced as a result of these factors.

    Continuous and ground-breaking innovations in medical devices and the march toward more complexity are expected to drive the medical specialty tubes market in the foreseen future. Also, small diameters appear to be the direction, medical tube is heading, and it’s largely being driven by the move to miniaturization that’s needed for new types of minimally invasive surgeries. As a result of all these factors, the medical specialty tubes market is expected to grow at a promising CAGR of 4.7% during the forecast period.

    Market Segments' Analysis

    Based on the material type, the market is classified as stainless-steel alloys, titanium alloys, and nickel alloys. Stainless steel alloys are likely to remain the most widely used material for medical specialty tubes in the foreseen future. Stainless steel is well suited for medical device applications requiring a high degree of structure, high modulus (stiffness), or high-pressure fluid flow. These include stents, surgical cutting instruments, bone screws, stethoscopes, cannulas, endoscopy equipment, etc. Among different stainless-steel alloys, such as 304L, 316/316L, 17-4PH, and 17-7PH, 316/316L is dominantly used in medical specialty tubes.

    Based on the application type, the market is segmented as medical instruments, cardiovascular & diagnostics, trauma, and others. Among these application types, medical instruments are likely to remain the biggest demand generator for specialty tubes during the forecast period. Under medical instruments, dental implants, surgical instruments, and endoscopic instruments are the key applications of specialty tubes. Medical instruments are also expected to grow with the highest CAGR during 2022-2027.

    In terms of region, North America led the market in 2021 and accounted for almost half of the global market. North America is anticipated to maintain its leading position throughout the forecast period. This is attributable to the huge healthcare spending, specifically in the USA. In addition, various market players are driving innovations in the medical industry in order to provide innovative treatments and devices. On the other hand, Asia Pacific is estimated to be the fastest-growing market during 2022-2027 owing to the rising demand for better healthcare infrastructure.

    Key Players

    Most of the companies are deploying various strategies regarding product development & differentiation, pricing, brand, technology, and customized products to gain a competitive advantage. The following are some of the key players in the medical specialty tubes market:

    • Sandvik AB
    • AMETEK Specialty Metal Products Inc.
    • HandyTube
    • Accu-Tube
    • Eagle Stainless Tube & Fabrication, Inc.
    • International Tube
    • TE Connectivity
    • Vita Needle Company

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s medical specialty tubes market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product Portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    The medical specialty tubes market is segmented into the following categories:

    Medical Specialty Tubes Market, by Material Type

    • Stainless Steel Alloys
      •  (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
      • (Stainless Steel Alloys Sub-Type Analysis: 304L, 316/316L, and Others)
    • Titanium Alloys
      • (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
      • (Titanium Alloys Sub-Type Analysis: CP Grade, Ti 6Al/4V Grade, Ti 3Al/2.5V, and Others)
    • Nickel Alloys
      • (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
      • (Nickel Alloys Sub-Type Analysis: Nickel-Cobalt and Others)

    Medical Specialty Tubes Market, by Diameter Type

    • <12mm (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • 12-24 mm (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • >24mm (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Medical Specialty Tubes Market, by Application Type

    • Medical Instruments (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Cardiovascular & Diagnostics (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Trauma (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Medical Specialty Tubes Market, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com

    A Bird's Eye View of the Market

    The medical specialty tubes market is estimated to grow at a healthy CAGR of 4.7% over the next five years. Rising demand for more complex medical devices and medical procedures are expected to drive the growth of the market in the coming five years.

    Sandvik AB, AMETEK Specialty Metal Products Inc., Accu-Tube, Eagle Stainless Tube & Fabrication, Inc., HandyTube, International Tube, TE Connectivity, and Vita Needle Company are some of the key players in the market.

    North America is estimated to remain dominant in the medical specialty tubes market in the coming years. Huge spending on research & development by medical device manufacturers and low R&D tax credit in the USA drive the overall regions market dynamics.

    Asia-Pacific is estimated to grow at the fastest rate in the coming five years, owing to the rising demand for a better healthcare system, driving the innovations in medical devices.

    Medical instruments are likely to maintain their dominance in the market in the next five years on account of the high demand for specialty tubes in medical instruments such as dental implants, surgical instruments, and endoscopic instruments.