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