by The Australia medical tubing market plays an important role in providing safe and effective delivery of life-saving drugs and fluids to patients. Medical tubings are used in various medical applications such as drug delivery, respiratory, gastroenterology, urology, cardiology, and others. The significant demand for medical tubing is attributed to the growing preference for minimally invasive procedures such as endoscopy, catheterization, and others over traditional surgical procedures. Medical tubing offers advantages such as biocompatibility, flexibility, durability, and high quality sterilization. The growing geriatric population, rising incidence of chronic diseases, and advancement in medical technologies are the primary factors driving the need for tubing systems for drug delivery and other medical applications in Australia.
Australia Medical Tubing Market Size is estimated to be valued at US$ 599.47 Mn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Australia medical tubing market are Abbott, Dexcom, Inc., Medtronic, Senseonics, Inc., F. Hoffmann-La Roche Ltd., GLUCOVATION, INC., Nemaura Medical Inc., GlySens, GlucoModicum, and Signos, Inc. The growing demand for minimally invasive procedures in Australia is contributing to the growth of the medical tubing market. Moreover, growing awareness about advanced healthcare and increasing healthcare expenditure are further fueling the demand. The key players are expanding their presence globally to leverage the growth opportunities in the untapped emerging markets.
Market Key Trends
Adoption of minimally invasive surgeries is one of the key trends being witnessed in the Australia medical tubing market. Minimally invasive procedures such as catheterization require tubing systems for fluid management and drug delivery, which is supporting the market growth. These minimally invasive procedures offer various benefits over traditional open surgeries such as less pain, shorter hospital stay, lower risk of surgical site infections, and faster recovery time. Thus, the rising preference for minimally invasive options is positively impacting the Australia medical tubing market.
Porter’s Analysis
Threat Of New Entrants: Entry of new players requires high initial investment for establishing manufacturing units and production process which moderates the threat of new entrants.
Bargaining Power Of Buyers: Presence of several established players offers buyers multiple alternatives which increases their bargaining power.
Bargaining Power Of Suppliers: Raw material suppliers have limited bargaining power due to availability of substitute material sources.
Threat Of New Substitutes: Emergence of new alternative technologies poses threat of substitution.
Competitive Rivalry: Intense competition exists among established players to gain higher market share.
Geographical Regions
Australia’s medical tubing market is concentrated in the southeast regions of Victoria and New South Wales, which accounts for over 60% of the total market value owing to the presence of major hospitals and healthcare facilities in cities like Sydney, Melbourne etc.
The medical tubing market is expected to grow fastest in Western Australia during the forecast period attributed to rising healthcare expenditure, expanding medical infrastructure and increasing adoption of advanced medical devices in the region.
What Are The Key Data Covered In This Australia Medical Tubing Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Australia Medical Tubing’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Australia Medical Tubing and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Australia Medical Tubing Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Australia Medical Tubing vendors
FAQ’s
Q.1 What are the main factors influencing the Australia Medical Tubing?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Australia Medical Tubing companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Australia Medical Tubing’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
