The Australian Medical Tubing Market Is Driven By Rising Geriatric Population

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The Australian medical tubing market comprises various silicone, plastic, and polymer tubing used in medical devices for fluid and gas transfer applications. Medical tubing finds widespread application in drug delivery devices, catheter assembly, respiratory tubing, IV lines, enteral feeding tubes, angiocath, Ryles, and biopsy tubing. It offers outstanding biocompatibility, flexibility, kink resistance, compression resistance, and chemical inertness. The increasing prevalence of chronic diseases among the aging Australian population is a key factor boosting the demand for affordable and safer medical equipment integrated with tubing.

Australia Medical Tubing Market Size is estimated to be valued at US$ 599.47 Mn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the Australian medical tubing market are Abbott, Dexcom, Inc., Medtronic, Senseonics, Inc., F. Hoffmann-La Roche Ltd., GLUCOVATION, INC., Nemaura Medical Inc., GlySens, GlucoModicum, and Signos, Inc. Growing prevalence of chronic lifestyle disorders coupled with rising health ...
... expenditure is propelling the demand for medical tubing in Australia. Major companies are focusing on expanding their geographic presence through strategic collaborations and acquisitions to strengthen their market position.

Market Drivers

Rise In Geriatric Population: According to 2021 census data, one in four Australians will be aged 65 and over by 2066. The increasing aging population will contribute to a high disease burden and drive the need for cost-effective medical equipment integrated with tubing.

Growth In Home Healthcare Devices: In Australia, medical tubing finds rising usage in home-use glucose monitoring kits, laryngoscopes, respiratory equipment, IV sets, and catheter assemblies. This is attributed to the preference for home healthcare over hospitalization to contain medical costs. The easy availability of devices through e-commerce and online pharmacies further supports the home care trend.

Current Geopolitical Situation Impacting Australia Medical Tubing Market Growth:

The Australia medical tubing market is facing challenges due to the ongoing geopolitical tensions and supply chain issues caused by the Russia-Ukraine war. Many key raw material suppliers for medical-grade PVC, silicone, and polymer tubing raw materials are based out of Eastern Europe. With exports from the region disrupted due to the conflict, tubing manufacturers in Australia are facing shortages and rising input costs. This is negatively impacting the production volumes and capabilities of local players. Additionally, an economic slowdown in key export markets like Europe and Asia is expected to dampen demand for Australian medical devices and associated components in the short-term. To overcome these challenges, companies must look at alternative sourcing, focus on developing localized and more sustainable supply networks, and expand into new growth markets in the Asia Pacific and Middle East regions through strategic partnerships. Diversifying supplier base, investing in innovation, and opting for flexible production models can help minimize geopolitical risks and ensure long-term sustainable growth.

Regions Where Australia Medical Tubing Market is Concentrated:

The state of Victoria accounts for the largest share of the medical tubing market in Australia in terms of value, with Melbourne hosting the headquarters and key manufacturing facilities of major domestic players. The availability of skilled labor, academic medical research institutions, and proximity to large hospitals have made Victoria an attractive base for medical device companies. New South Wales is another important region concentrated with medical tubing companies, mainly situated around Sydney. The coastal cities of Western Australia like Perth have also emerged as growth centers owing to mining and energy industry linkages demanding specialized medical tubing. Overall, the southeast and western coastal cities contribute over 65% of the total market value currently, leveraging their innovative ecosystem and access to talent.

Fastest Growing Region in the Australia Medical Tubing Market:

The northern territories of Australia spanning Queensland and Northern Territory are poised to be the fastest growing regions for the medical tubing market during the forecast period. This is owing to increasing government investments and reforms dedicated to improving healthcare access for remote and indigenous populations in these underdeveloped regions. Several new hospitals, clinics, and satellite centers are planned over the next 5 years. Local production of essential medical devices and components would be crucial to make healthcare affordable and equitable in remote communities. Tubing manufacturers exploring opportunities through partnerships, local skill development, and innovative product designs tailored for tropical conditions can gain first-mover advantages in these high growth territories. The vast mineral resource projects also demand specialized tubing for worker safety in harsh Australian outdoors.

What Are The Key Data Covered In This Australia Medical Tubing Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Australia Medical Tubing's growth between 2024 and 2031.

:- Accurate calculation of the size of the Australia Medical Tubing and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Australia Medical Tubing Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Australia Medical Tubing vendors

FAQ’s

Q.1 What are the main factors influencing the Australia Medical Tubing?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top Australia Medical Tubing companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the Australia Medical Tubing’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

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Author Bio:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)