FEP Heat Shrink Medical Tubing Market worth $208 million by 2029 Globally, at a CAGR of 7.4%, says MarketsandMarkets™

Chicago, May 14, 2024 (GLOBE NEWSWIRE) — The Global FEP Heat Shrink Medical Tubing Market is projected to grow from USD 145 million in 2024, and it is projected to reach USD 208 million by 2029, at a CAGR of 7.4% from 2024 to 2029. as per the recent study by MarketsandMarkets™. The growth of the FEP HEAT SHRINK MEDICAL TUBING market is primarily driven by the growing surgical instrument market which helps to generate the demand for FEP heat shrink medical tube across the industry. Apart from this, the increasing demand for microcatheters also helps to drive the market. Elevated prices of FEP heat shrink medical tube as compared to conventional heat shrink medical tube, becomes the main restraining factor in this market. However, the rising government expenditure for the development of advanced health care infrastructure, provides lucrative opportunities for FEP heat shrink medical tube producers. Infections & complications associated with catheter usage, and high cost of producing & marketing medical tubing products, are the major challenge of this market.

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337 – Market Data Tables
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List of Key Players in FEP Heat Shrink Medical Tubing Market:

  1. Zeus Company LLC (US)
  2. TE Connectivity (Switzerland)
  3. Parker Hannifin Corporation (US)
  4. Teleflex Incorporated (US)
  5. Nordson MEDICAL (US)
  6. APT Advanced Polymer Tubing GmbH (Germany)
  7. Junkosha Inc. (Japan)
  8. ElringKlinger Kunststofftechnik GmbH (Germany)
  9. Polyfluor Plastics bv (Netherlands)
  10. Polyflon Technology Ltd. (UK)

Drivers, Restraints, Opportunities and Challenges in FEP Heat Shrink Medical Tubing Market:

  1. Drivers: Increasing demand for microcatheters.
  2. Restraints: Elevated prices compared to conventional heat shrink medical tubing.
  3. Opportunity: Expansion of the healthcare sector in the emerging economies.
  4. Challenges: Infections & complications associated with catheter usage.

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Key Findings of the Study:

  1. Catheter Delivery Devices segment emerges as the fastest growing by application segment in the FEP heat shrink medical tubing market.
  2. Peelable emerges as a fastest growing segment in by product type segment in the FEP heat shrink medical tubing market.
  3. APAC is the speediest-growing market for FEP heat shrink medical tubing market.

Catheter delivery devices are essential medical devices used in a wide range of diagnostic and therapeutic procedures, including cardiovascular interventions, urology treatments, and gastrointestinal procedures. These devices often require precise control, flexibility, and biocompatibility, all of which are provided by FEP heat shrink tubing. Additionally, catheter delivery systems typically consist of multiple components, such as shafts, balloons, and catheter tips, all of which may utilize FEP heat shrink tubing for insulation, reinforcement, and lubrication.

Standard FEP heat shrink tubing offers excellent properties such as high temperature resistance, chemical inertness, flexibility, and transparency. These characteristics make it suitable for various medical device applications, including catheters, guide wires, and stent delivery systems. Its versatility allows for easy customization to meet specific size and performance requirements.

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Based on shrink ratio, the 1.3:1 shrink ratio segment is projected to register the second-highest market share during the forecast period. FEP heat shrink medical tubing with 1.3:1 shrink ratio is widely utilized to encapsulate medical devices and provide insulation for electrical components across various environments. These tubes safeguard the delicate integrity and functionality of medical instruments while offering effective protection for electrical devices. Particularly valued for applications require a smooth and even substrate, such as encapsulating catheters or surgical tools, they ensure a seamless and reliable surface. However, they may not be suitable for irregular surfaces, where tubing with a higher shrink ratio is preferred to ensure proper encapsulation and sealing. Despite this limitation, FEP heat shrink medical tubing with a 1.3:1 shrink ratio remains a dependable option for applications requiring uniformity and consistent performance.

Based on application, the surgical and vascular instruments application is projected to register the second highest market share during the forecast period. FEP heat shrink medical tubing is extensively applied in various surgical and vascular instruments due to its unique attributes tailored to meet the specific needs of these medical devices. In catheters and guidewires, it acts as a protective outer layer, enhancing device durability and providing insulation while ensuring smooth movement through the vasculature to minimize tissue damage risk. In endoscopic instruments, FEP tubing serves in sheaths, channels, and covers, offering biocompatibility, chemical resistance, and transparency for visualization during procedures. Crucially, in vascular closure devices, it ensures secure seals at puncture sites to prevent bleeding or hematoma formation. In stents and stent delivery systems manufacturing, FEP tubing acts as a protective covering, enabling smooth delivery and deployment while maintaining biocompatibility for prolonged implantation. FEP heat shrink tubing also contributes to providing ergonomic handles and grips for surgical instruments, ensuring surgeons’ comfort and secure grip during procedures. FEP heat shrink medical tubing significantly enhances device performance, durability, and safety in surgical and vascular interventions.

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CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com

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