InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global FEP Heat Shrink Medical Tubing Market – by Heat Shrink Ratio (1.3:1, 1.6:1. 2:1 & above), Application (Catheter Delivery Devices, Surgical & Vascular Instruments, Fixing Flexible Joints, Electrical Insulation, others), Product Type (Standard FEP-HS Tubing, Peelable HS Tubing), Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by InsightAce Analytic, the Global FEP Heat Shrink Medical Tubing Market is valued at US$ 136.1 Mn in 2023, and it is expected to reach US$ 241.9 Mn by 2031, with a CAGR of 7.6% during the forecast period of 2024-2031.
FEP heat shrink tubing is made from fluorinated ethylene propylene (FEP), which has various properties such as chemical resistance, high-temperature resistance, biocompatibility with human tissue and moisture resistance. They are used in applications involving sterilization processes or exposure to high temperatures, such as covering medical instruments, thermometers, lighting fixtures, battery packs and other instruments where protection is needed. The FEP heat shrink medical tubing market is driven by the rising demand for minimally invasive procedures, the increasing occurrence of chronic illnesses, the growing awareness of FEP heat shrink tubing advantages, and the growth of the surgical instruments market. However, the market is anticipated to be hampered due to the high cost of price FEP heat shrink tubing compared to conventional heat shrink medical tubing and the fluctuating prices of raw materials.
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List of Prominent Players in the FEP Heat Shrink Medical Tubing Market:
- Zeus Company LLC (US)
- TE Connectivity (Switzerland)
- Parker Hannifin Corporation (US)
- Teleflex Incorporated (US)
- Nordson MEDICAL (US)
- APT Advanced Polymer Tubing GmbH (Germany)
- Junkosha Inc. (Japan)
- ElringKlinger Kunststofftechnik GmbH (Germany)
- Polyfluor Plastics bv (Netherlands)
- Polyflon Technology Ltd. (UK)
Market Dynamics:
Drivers-
The increasing trend towards minimally invasive surgical procedures fueled the growing demand for the FEP heat shrink medical tubing market. FEP heat shrink tubing plays a crucial role in these procedures by providing insulation, protection, and strain relief for catheters and other medical devices used in various medical procedures.
Challenges:
FEP heat shrink medical tubing is significantly more expensive than traditional options like PTFE, PFA, and PEEK-based tubing. In healthcare facilities that prioritize cost-effectiveness or have limited resources, these options might be chosen over FEP tubing. Potential customers may choose less expensive alternatives due to FEP tubing’s greater initial cost. Therefore, the market is constrained by the higher price of FEP heat shrink medical tubing.
Regional Trends:
The Asia Pacific FEP heat shrink medical tubing market is anticipated to register the highest growth rate during the study period. The fastest growth rate is attributed to rapid economic development, increasing healthcare expenditure in regional countries, growing population and rising incidence of chronic diseases.
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Recent Developments:
- In February 2024, Junkosha Inc. launched a Translucent peelable Heat Shrink Tubing (PHST) solution with a 1.8:1 shrink ratio at the MD&M West show.
- In September 2023, Zeus opened its catheter manufacturing facility in Arden Hills, Minnesota. The newly opened facility has an R&D lab and cleanroom equipped with the latest technologies to design, develop, and validate new catheter prototypes in industry-best lead times.
Segmentation of FEP Heat Shrink Medical Tubing Market-
By Shrink Ratio-
- 1.3:1
- 1.6:1
- 2:1 & Above
By Application-
- Catheter Delivery Devices
- Surgical and Vascular Instruments
- Fixing Flexible Joints (Shafting)
- Electrical Insulation
- Others
By Product Type-
- Standard FEP-HS Tubing
- Peelable HS Tubing
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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