Polyimide is a thermoset plastic used in a number of medical applications for tubing purposes. Polyimide has excellent thermal stability, chemical resistance, and tensile strength. It is flexible, lightweight, heat and chemical resistant material which makes it a perfect polymer for high performance medical applications. Polyimide is used in a number of applications including neurovascular applications, cardiac catheters, urological retrieval devices, drug delivery, and fiber optics. 

Medical Polyimide Tubing Market - Dynamics

A large population is suffering from cardiovascular, neurological, and other disorders that lead to hospitalization. In case of chronic disorders, hospitalization is associated with catheterization. An article published by CamStent Ltd. stated that among all hospitalized patients in the U.S. over 25% receive urinary catheterization for proper bladder drainage each year. A report published by the U.S.

Department of Health and Human Services revealed that 13 million individuals suffer from urinary incontinence each year. Urinary incontinence is more prevalent in women than men; 10% to 30% in women compared to 1.5% to 5% in men. An estimated 17% women and 16% men aged above 18 suffer from overactive bladder (OAB) and around 12.2 million individuals suffer from urge incontinence. Life expectancy of people has increased in the last decade. Hence, there is a large population above reproducible age. The immune system of a person weakens with age. Therefore, increase in the geriatric population has led to high probability of contracting diseases in this age group. According to the National Institute of Aging, in 2010, 8% of the world’s population was aged 65 years or older, which was about 524 million people.

The number of older people in less developed countries is projected to increase by more than 250% between 2010 and 2050 compared to 71% in the developed countries. Aging increases the incidence of chronic diseases, leading to hospitalization. This is anticipated to boost the catheters market during the forecast period, as increase in number of hospitalizations is expected to drive demand for catheters. Increase in the number of patients requiring catheterization is likely to drive the global medical polyimide tubing market during the forecast period. 

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High Patient Population and Favorable Regulatory Landscape to Boost Global Medical Polyimide Tubing Market

The global medical polyimide tubing market is projected to grow at a steady pace during the forecast period owing to a number of factors. Increase in incidence of urinary disorders, technological advancements, favorable regulatory policies, and rise in geriatric population are anticipated to propel the global medical polyimide tubing market during the forecast period. Catheters were classified as class III medical devices in the past, and hence had a long approval process. In 2010, the FDA shifted the standard balloon-tipped angioplasty catheters from class III to class II medical devices. Since this shift, balloon catheters can now be into the market only with the 510(k) clearance process rather than the premarket approval (PMA) process. The PMA process requires a medical device to undergo a clinical trial in order to receive the FDA approval. This is a time consuming process than 510(k) clearance process. This has enabled market players to receive clearance at a faster pace due to lesser time and cost incurred in the approval process. This change in policy has fueled the growth of the global medical polyimide tubing market. 

Medical Polyimide Tubing Market – Competitive Landscape

Major players operating in the global medical polyimide tubing market include Nordson Corporation, Zeus Industrial Products, Teleflex, Lubrizol Corporation, MicroLumen, Inc., Duke Extrusion, Optima International AB, Paramount Tube, and Micro ML Tubing, Inc. 

Nordson Corporation

Nordson Corporation was founded in 1935 and is headquartered in Westlake, Ohio US. The company manufactures and sells a number of industrial products namely Adhesive Dispensing Systems, Advanced Technology Systems, and Industrial Coating Systems. The company offers a number of products to the medical, life science and pharmaceutical industry including biomaterial delivery systems, fluid management systems, aseptic product manufacturing, and medical electronics and device manufacturing. 

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Zeus Industrial Products, Inc.

Zeus Industrial Products, Inc. is a U.S. based company that specializes in the manufacturing of biomaterials, coated optical fiber, extruded tubing, heat shrinkable tubing, insulated wire, monofilament and drawn fiber, polyimide family, tie layer, etc. the company was founded in 1966 and is headquartered in Orangeburg, South Carolina, U.S.  Zeus Industrial Products provide polyimide tubing solutions for medical, aerospace, automotive, and electronics industries. 

Medical Polyimide Tubing Market - Segmentation

The global medical polyimide tubing market can be segmented based on:

  • Product Type
  • Application
  • Region 

In terms of product type, the market can be classified into:

  • Seamless Tubing
  • Spiral Wound Tubing 

Based on application, the global medical polyimide tubing market can be divided into:

  • Catheters & Cannulas
  • Bulk Disposable Tubing
  • Drug Delivery Systems
  • Special Applications 

In terms of region, the global medical polyimide tubing market can be segmented into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

North America is likely to account for major share of the global market in 2018. Over 1,000,000 cardiac catheterizations are performed in the U.S. each year. High rate of cardiac catheterization, well-established health care infrastructure, and high health care expenditure in the region are projected to fuel the growth of the medical polyimide tubing market in North America.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

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