Global Medical Copper Tubing Market Opportunities And Strategies 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s medical copper tubing market report forecasts the medical copper tubing market size to grow to $2.20 Billion by 2027, with a CAGR (compound annual growth rate) of 7%.
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Medical Copper Tubing Market Size Forecast
The global medical copper tubing market is expected to grow from $1.55 billion in 2022 to $1.68 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global medical copper tubing market size is expected to reach $2.20 billion in 2027 at a CAGR of 7%.
North America held the largest medical copper tubing market share.
Key Medical Copper Tubing Market Driver – Increase In The Number Of Surgeries
According to an April 2022 report on aesthetic plastic surgery statistics issued by The Aesthetic Society, the entire surgical procedure grew by 54% in 2021 compared to 2020. Furthermore, the total number of body surgical procedures increased by 63% from 564,303 in 2020 to 921,664 in 2021. As a result, the rise in the number of surgeries is propelling the medical copper tubing market forward.
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Key Medical Copper Tubing Market Trend – Product Innovations
Major players in the medical copper tubing market are releasing new products to strengthen their market position. For example, in June 2021, KME, a Germany-based manufacturer of copper and copper alloy products, announced a line of copper and copper alloy products, including medical copper tubes with antibacterial qualities that promote health protection in heavily trafficked public locations. The SaCup product line includes finished and semi-finished materials used to neutralise viruses and bacteria in hospitals, particularly hospital beds and table constructions. These goods are completely recyclable and offer numerous advantages such as durability, health safety, and sustainability.
Medical Copper Tubing Market Segment
1) By Product Type: Bracketing, Fittings, Tubing
2) By Application: Carbon Dioxide, Medical Air, Medical Vacuum, Nitrogen, Nitrous Oxide, Oxygen
3) By End-user: Nursing Home, Hospitals, Ambulatory Surgical Centres, Speciality Clinics
Medical Copper Tubing Market Major Players and Strategies
Major players in the medical copper tubing market are Amico Group of Companies, KME Group, Mueller Streamline Co., BeaconMedaes LLC, Cerro Flow Products LLC, UACJ Corp., ABC Tube Company Pvt.Ltd., B. Braun SE, Becton, Dickinson and Company, Merck & Co. Inc, Nordson, Novair Medical, Precision U.K. Ltd., Mehta Tubes Ltd., and Great Lakes Copper Ltd.
Longship Group, a workforce consulting and solutions organisation based in the United States, bought Lawton Group for an unknown sum in September 2022. This acquisition adds a new service to Longship Group’s array of healthcare product offerings by delivering nonclinical healthcare solutions. The Lawton Group is a medical copper tubing manufacturer established in the United Kingdom.
The Medical Copper Tubing Global Market Report 2023 covers regional data on medical copper tubing market size, medical copper tubing market trends and drivers, opportunities, strategies, and medical copper tubing market competitor analysis. The countries covered in the medical copper tubing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Medical copper tubing refers to a device used in hospitals to supply medical gases. These corrosion-resistant and sturdy copper tubings are used to combat bacteria and viruses.
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