FEP Heat Shrink Medical Tubing Market Size is valued at USD 136.1 Mn in 2023 and is predicted to reach USD 241.9 Mn by the year 2031 at a 7.6% CAGR during the forecast period for 2024-2031.
FEP heat shrink tubing is a versatile material used in various medical applications for protecting, insulating, and reinforcing medical devices. It's made of fluorinated ethylene propylene (FEP), a type of plastic known for its exceptional properties, including chemical resistance, high-temperature resistance, biocompatibility, electrical insulation, and lubricity. The FEP heat shrink medical tubing market is driven by the growing medical devices industry, rising minimally invasive surgeries and use of microcatheters, increasing population and subsequent burden of chronic illnesses among the populations.
However, the market growth is hampered by the high cost of the FEP compared to conventional materials and fluctuating raw material prices.
Competitive Landscape
Some Major Key Players In the FEP Heat Shrink Medical Tubing Market:
- Zeus Company LLC (US)
- TE Connectivity (Switzerland)
- Parker Hannifin Corporation (US)
- Teleflex Incorporated (US)
- Nordson MEDICAL (US)
- APT Advanced Polymer Tubing GmbH (Germany)
- Junkosha Inc. (Japan)
- ElringKlinger Kunststofftechnik GmbH (Germany)
- Polyfluor Plastics bv (Netherlands)
- Polyflon Technology Ltd. (UK)
Market Segmentation:
The FEP heat shrink medical tubing market is segmented based on heat shrink ratio, application, and product type. Based on heat shrink ratio, the market is segmented into 1.3:1, 1.6:1, and 2:1 and above. By application, the market is segmented into catheter delivery devices, surgical and vascular instruments, fixing flexible joints, electrical insulation and others. By product type, the market is segmented into standard FEP-HS tubing and peelable HS tubing.
Based on the Heat Shrink Ratio, the 1.6:1 Segment is estimated to account for the Major share in the FEP Heat Shrink Medical Tubing Market.
The 1.6:1 FEP heat shrink medical tubing market is expected to hold a significant global market share in 2024. Many different medical devices use a 1.6:1 heat shrink ratio as it provides a balance between flexibility, durability, and size reduction. Its capacity to reduce the tubing to a particular ratio guarantees optimum performance and user-friendliness for devices requiring precision fitting, such as stent delivery systems, conduits, and guide wires.
Peelable HS Tubing segment to witness growth at a rapid rate
The peelable HS tubing segment is the fastest-growing by-product type segment in the FEP heat shrink medical tubing market due to its distinct benefits and wide range of uses in the medical field. Peelable tubing provides a practical way to assemble and package medical devices because it makes removal simple and doesn't damage or leave residue behind. This function benefits the catheter manufacturing industry, where sterile and accurate assembly is essential.
In the region, the North American FEP Heat Shrink Medical Tubing Market Holds a Significant Revenue share.
The North American FEP heat shrink medical tubing market is expected to register the highest market share in revenue in the near future. It can be attributed to due to a variety of factors. These include the early adoption of minimally invasive medical techniques, a growing elderly population, and several patients within the region suffering from chronic conditions.
Recent Developments:
- In February 2024, Junkosha Inc. launched a Translucent peelable Heat Shrink Tubing (PHST) solution with a 1.8:1 shrink ratio at the MD&M West show.
- In September 2023, Zeus opened its catheter manufacturing facility in Arden Hills, Minnesota. The newly opened facility has an R&D lab and cleanroom equipped with the latest technologies to design, develop, and validate new catheter prototypes in industry-best lead times.
FEP Heat Shrink Medical Tubing Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 136.1 Mn |
|
Revenue Forecast In 2031 |
USD 241.9 Mn |
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Growth Rate CAGR |
CAGR of 7.6 % from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Mn, Volume (Ton), and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
Shrink Ratio, Application, Product Type |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
Zeus Company LLC (US), TE Connectivity (Switzerland), Parker-Hannifin Corporation (US), Teleflex Incorporated (US), Nordson MEDICAL (Ireland), APT Advanced Polymer Tubing GmbH (Germany), Junkosha Inc. (Japan), ElringKlinger Kunststofftechnik GmbH (Germany), Polyflon Technology Ltd. (UK), Polyfluor Plastics BV (Netherlands), among others. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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