Canada Medical Tubing Market Size & Outlook, 2022-2030
Canada medical tubing market, 2018-2030 (US$M)
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Canada medical tubing market highlights
- The Canada medical tubing market generated a revenue of USD 352.3 million in 2022 and is expected to reach USD 655.5 million by 2030.
- The Canada market is expected to grow at a CAGR of 8.1% from 2023 to 2030.
- In terms of segment, polyvinyl chloride was the largest revenue generating product in 2022.
- Fluoropolymers is the most lucrative product segment registering the fastest growth during the forecast period.
Medical tubing market data book summary
| Market revenue in 2022 | USD 352.3 million |
| Market revenue in 2030 | USD 655.5 million |
| Growth rate | 8.1% (CAGR from 2022 to 2030) |
| Largest segment | Polyvinyl chloride |
| Fastest growing segment | Fluoropolymers |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Silicone, Polyolefins, Polyimide, Polyvinyl Chloride, Polycarbonates, Fluoropolymers, Other Products |
| Key market players worldwide | Asahi Group Holdings Ltd, MDC Industries, Nordson Corp, TE Connectivity Ltd, Freudenberg, Spectrum Plastics Group, Zarys International Group, Hitachi Cable America, NewAge Industries, Atag |
Other key industry trends
- In terms of revenue, Canada accounted for 2.9% of the global medical tubing market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. medical tubing market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 655.5 million by 2030.
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Medical Tubing Market Scope
Medical Tubing Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada medical tubing market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to medical tubing market will help companies and investors design strategic landscapes.
Polyvinyl chloride was the largest segment with a revenue share of 31.62% in 2022. Horizon Databook has segmented the Canada medical tubing market based on silicone, polyolefins, polyimide, polyvinyl chloride, polycarbonates, fluoropolymers, other products covering the revenue growth of each sub-segment from 2018 to 2030.
Healthcare system in Canada is driven by funding from the federal government and, hence, the demand for medical tubing products is expected to increase with the increase in procurement of the products by the Canadian healthcare system.
Healthcare spending in Canada represents a significant portion of the country’s GDP. According to the OECD, health spending in Canada stood at 11.7% of the country’s GDP in 2021. Moreover, healthcare spending in Canada is further expected to increase due to the growing as well as an aging population.
According to Statistics Canada, the number of people aged 65 and above stood at 4.8 million in 2010, which increased to 7.3 million in 2022. Thus, the aging population is further expected to drive the demand for healthcare services, which is expected to benefit the market growth of medical tubing over the forecast period.
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Our clientele includes a mix of medical tubing market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada medical tubing market , including forecasts for subscribers. This country databook contains high-level insights into Canada medical tubing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada medical tubing market size, by product, 2018-2030 (US$M)
Canada Medical Tubing Market Outlook Share, 2022 & 2030 (US$M)
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