Press Release / Technology / Medical Connector Market 2018 by Key Players Analysis, Industry Size, Global Trends and Forecast 2023

Medical Connector Market 2018 by Key Players Analysis, Industry Size, Global Trends and Forecast 2023

Market Scenario:
Medical connectors are used to interconnect different medical electronic equipment, such as diagnostic devices, surgical instruments, therapy applications, surgery assist devices, and disposable equipment with one another. The global medical connector market is projected to expand at a CAGR of 8 % between the forecast period of 2017 and 2023.
Market Dynamics:
Growing Adoption Of Medical Devices Is The Critical Determinant Of The Market
There has been an explosive adoption of medical electronics and electrical systems such as Magnetic resonance imaging (MRI), ultrasound, defibrillators, electrocardiography, heart-lung machines, surgical, diagnostic and therapy systems, to name a few. The growth in adoption of medical electronics and electrical systems is in direct correlation with the increase in demand for medical connectors. Adoption of ultrasound, which need high numbers of mating, cycles is another driver of the market.
Custom Designed And Refurbishing Of Medical Devices Coupled With Growing Demand Of Sterilizable, Reusable And Disposable Medical Connectors Is Driving A Significant Demand
Growing adoption of in situ diagnostic and surgical devices is driving a tremendous demand for sterilizable, reusable, hybrids, and cost-effective disposable medical connectors. The growing customization of devices to meet specific application requirements is another driver of the market. There is a significant demand for medical connectors with low-friction coatings such as silicon. Other market trends include watertight sealing, autoclavable, and surviving temperatures above 121° C for 20 minutes. Another development has been the demand for antimicrobial-coated connectors to meet FDA standards.
WHO estimates that 8.7% of hospital patients had nosocomial infections affecting over 1.4 million people worldwide. The US government will start penalizing hospitals in 2017 under the Readmissions Reduction Program (HRRP) of the Affordable Care Act, for hospital-acquired infection. This development is expected to be the most active driver for the U.S. market.
Bifurcation In Low Tech And High Tech Connectors Is Resulting In A Bimodal Market
The medical connectors market is bifurcated in low cost and cheap, low-tech devices, most of which are disposable. There is a stringent competition in this market segment. The high tech devices segment is consolidated where a premium can be charged. Thus a bimodal market exists, and firms have different market power and technologies exists side by side.
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Key Players:
Some of the prominent vendors operating in the global medical connector market are ITT Corporation (U.S.), Smiths Interconnect (U.K.), TE Connectivity Ltd. (Switzerland), Amphenol Corporation (U.S.), Delphi Automotive LLP. (U.K.), Esterline Corporation (U.S.), Fisher Connectors (Switzerland), Molex (U.S.), Samtec (U.S.) Lemo S.A. (Switzerland), and others.
Medical Connector Market Segmentation:
To generate a definitive understanding of the global medical connector market, the report is segregated based on light source type, offering, applications, and region.
Based on the materials, the market is segregated by plastic, metal, and others
Based on the connector size, the market is segmented by <=10 mm,11mm -20 mm, >= 20 mm and others
Based on the regions, the market is segmented by North America, Europe, APAC and Rest of the World Regional Analysis:
North America led by the U.S. is the largest market for medical connectors market owing to massive demand, the presence of significant players and wide adoption of medical devices.
Europe is led by Germany, France, and the U.K. The large medical devices industry of Germany is a prime driver of the European market.
Asia-Pacific region is dominated by China, Japan, and India and expected to grow at the highest CAGR in the coming years. The Middle East and Africa region are dominated by Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.
Intended Audience:
• Hospitals and clinics
• Research institutes
• Product sales and distribution companies
• Original equipment manufacturers
• Original design manufacturers
• Research and development companies
• Market research and consulting firms
• Technology standards organizations
• Technology investors
• System Integrators
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Table of Contents:
1 Market Introduction
1.1 Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure
Continued…
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