Replacing the hose sounds like the right way to go. I guess it depends on the design.

Some designs I saw a while back seem to have the tubing permanently welded in place. If the hole was tiny I think I would cut a circle of 3M clear packaging tape, wash the hose well with alcohol and make sure to round the corners on the piece you use and don't overlap it, and see how it went. If it sealed well I would make the repair more durable by slipping on a piece of adhesive-lined heat-shrink tubing. Or lashing a cover of nylon string. Stacked half-hitches would do it. Depends what I have on hand and my mood at the time.

If I couldn't replace the tubing because it was welded to the bag and it looked like the hole might spread I would probably cut the hose square at the hole and insert a standard double-barbed connector. To get a god seal I would get one that fit rather tight and heat the tubing so it would fit over the ends of the connector. Fit this way there should be no need for any clamps.