South Korea Medical Tubing Market Size & Outlook
South Korea medical tubing market, 2018-2030 (US$M)
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South Korea medical tubing market highlights
- The South Korea medical tubing market generated a revenue of USD 234.8 million in 2022 and is expected to reach USD 402.4 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7% 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 234.8 million |
| Market revenue in 2030 | USD 402.4 million |
| Growth rate | 7% (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, South Korea accounted for 1.9% 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 Asia Pacific, China medical tubing market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,804.9 million by 2030.
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Medical Tubing Market Scope
Medical Tubing Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea 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 29.94% in 2022. Horizon Databook has segmented the South Korea 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.
Currently, medical device manufacturers in South Korea produce low-end medical devices. The growth of medical tubing market in the country can be attributed to a shift in trend among the manufacturers toward manufacturing high-end medical devices coupled with the growing aging population.
According to South Korea Medical Devices Industry Association, aging population accounted for over 16% of the total population as of 2020. As a result, the use of advanced medical equipment is expected to witness an increase over the forecast period. Some of the leading end-use segments of medical tubing in South Korea are MRI devices, intravascular catheters, and dialyzers.
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Target buyers of South Korea medical tubing market databook
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Our clientele includes a mix of medical tubing market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea medical tubing market , including forecasts for subscribers. This country databook contains high-level insights into South Korea medical tubing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea medical tubing market size, by product, 2018-2030 (US$M)
South Korea Medical Tubing Market Outlook Share, 2022 & 2030 (US$M)
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