Product Code: ETC377244 | Publication Date: Aug 2022 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India medical tubing market import shipment demonstrated strong growth with a CAGR of 11.7% from 2020 to 2024. However, there was a significant decrease in growth rate between 2023 and 2024 at -66.7%, indicating a sharp slowdown in the market momentum towards the end of the period. Despite the deceleration, the overall trend still shows expansion, albeit at a reduced pace.
The India medical tubing market size stood at around 432 Million US$ and is projected to witness a compound annual growth rate (CAGR) of 9% on account of its surging application scope across different end use segments such as pharmaceuticals & biotechnology, diagnostics & research laboratories etc. Rapidly evolving healthcare infrastructure along with high adoption rate regarding minimally invasive surgical procedures will create lucrative business opportunities throughout 2022-2031 timeline thereby augmenting overall revenue generation pertaining to sale of these components into local region based upon their specific properties like gas permeability or flexibility grade etc.
In the medical tubing market, the key drivers include technological advancements in medical devices and the growing demand for minimally invasive procedures. Medical tubing is essential for various applications, including catheters, intravenous lines, and respiratory devices, making it a critical component in modern healthcare.
The medical tubing market in India faces various challenges that affect its growth and competitiveness. One of the primary challenges is the strict regulatory requirements imposed on medical devices, including tubing. Complying with these regulations and obtaining necessary certifications can be a complex and expensive process for manufacturers.The market also contends with the presence of low-quality and non-compliant medical tubing products, which can compromise patient safety and tarnish the reputation of genuine suppliers.Furthermore, the market`s dependence on raw material imports can expose it to supply chain disruptions and price fluctuations, impacting overall production costs. Developing local sourcing options and resilient supply chains is essential for sustainability.
The medical tubing market in India experienced fluctuations during the COVID-19 pandemic. The increased demand for medical equipment, including tubing, strained the supply chain. Additionally, logistical challenges and raw material shortages affected production and distribution, impacting market dynamics.
In the India Medical Tubing Market, major players include Poly Medicure Limited, RAUMEDIC AG, Optinova Group, Ami Polymer Pvt. Ltd., and Zeus Industrial Products India Pvt. Ltd.