In many applications, the final balloon design calls for a very small neck diameter with respect to the finished balloon size. The balloon neck diameter may be smaller than the raw tubing needed to form the desired balloon size. Diameter reduction is accomplished by stretching the tubing axially at an elevated temperature. The magnitude of the stretching temperature is such as to merely soften the material to reduce its yield strength without melting it. The Stretcher can process a variety of tubing sizes and materials such as PE, PU, PVC, PET, Nylon, etc. It provides the capability of precisely selecting the tubing stretching parameters and automatically controlling the sequence and timing of individual steps of the tubing stretching cycle.