Medical Copper Tubing Market Set to Skyrocket, Projected to Reach USD 2.89 Billion by 2032 with a 6.8% CAGR Growth
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The Medical Copper Tubing Market value for was USD 1.6 Billion in 2022 and is expected to reach USD 2.89 Billion in 2032 growing at a CAGR of 6.8%.
NEW YORK CITY, NY, UNITED STATES, July 12, 2023/EINPresswire.com/ -- The Medical Copper Tubing Market had a value of USD 1.6 Billion in 2022 and is projected to reach USD 2.89 Billion in 2032, exhibiting a compound annual growth rate (CAGR) of 6.8% during the forecast period. The growth in market revenue is primarily driven by the increasing prevalence of chronic diseases, the growing demand for copper tubing in medical equipment, and the expansion of the global healthcare infrastructure.
One of the main factors contributing to the growth of the medical copper tubing market is the escalating need for copper tubing in medical equipment. Copper tubing is utilized in various medical devices such as catheters, endoscopes, and surgical instruments due to its excellent heat and electrical conductivity, resistance to corrosion, and malleability. Additionally, copper tubing possesses antimicrobial properties that help protect patients from infections.
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Key players in the Medical Copper Tubing Market:
• Mueller Industries, Inc.
• Amico Corporation
• Copper Tubing Africa
• MetTube
• Nacobre
• China Metal Products Co., Ltd.
• KME Germany GmbH & Co KG
• Cerro Flow Products LLC
• Dexter Magnetic Technologies, Inc.
• Aviva Metals
Furthermore, the rising incidence of chronic diseases like cancer, cardiovascular disorders, and respiratory conditions is fueling the growth of market revenue. Many of these diseases require frequent medical interventions and procedures, leading to an increased demand for medical equipment like catheters and endoscopes, thereby driving the demand for copper tubing.
Segments Covered in the Report –
By Type Outlook -
• Type K
• Type L
• Type M
• Others
By Application Outlook -
• Medical Gas Systems
• Plumbing
• HVAC
• Others
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Strategic development:
• Mueller Industries, Inc. made an announcement in 2020 regarding the acquisition of ATCO Rubber Products, Inc. This strategic acquisition is aimed at expanding Mueller's range of products in the medical tubing market and reinforcing its position within the industry.
• Amico Corporation, in 2021, introduced a new line of medical gas tubing known as the Amico Alumi-Tech Series. These tubes are manufactured using aluminum and boast a sturdy design with minimal gas permeation.
• In 2021, Copper Tubing Africa unveiled an extension to its medical tubing product line by introducing a new selection of copper-nickel tubes. These tubes are specifically designed for medical equipment applications like radiators and heat exchangers.
• MetTube, in 2021, launched the MetMed Series, a fresh line of medical copper tubing. These tubes are intended for use in medical equipment such as catheters, oxygen delivery systems, and dialysis machines. They possess exceptional corrosion resistance and can be customized to fulfill specific customer requirements.
• Nacobre, in 2020, expanded its medical tubing product line by introducing a new series of copper-nickel tubes. These tubes are designed for medical equipment applications such as MRI machines and X-ray systems, and they exhibit significant antimicrobial properties.
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