A method of making a polymeric tubular layer of an expandable medical device or component, in which the polymeric tubular layer is longitudinally compressed by longitudinally stretching a tube over the polymeric tubular layer and releasing the tube from the stretched configuration so that the length of the tube decreases and thereby decreases the length of the polymeric tubular layer. The resulting compressed polymeric tubular layer can be used in a variety of expandable medical devices and in one presently preferred embodiment it forms a catheter balloon having at least one layer.