Industry Background:
Medical connectors are being deployed in various applications such as patient monitoring dental and cardiology departments etc. These connectors are mostly utilized in diagnostic imaging devices globally since these are used for diagnosing various diseases and are used as a first step before providing any treatment to the patient. Further, rising prevalence of chronic diseases and increasing demand from home healthcare will create a beneficial market for medical connectors from monitoring devices segment in the forecast period.
According to AMA Research, the market for Medical Connectors is expected to register a CAGR of 8.2% during the forecast period to 2030. This growth is primarily driven by Growing Healthcare Industry and Technological advancements in Medical Devices
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Medical Devices sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Amphenol Corporation (United States), Delphi Automotive LLP. (U.K.), Esterline Corporation (United States), ITT Corporation (United States), Smiths Interconnect (U.K.), TE Connectivity Ltd. (Switzerland), Fisher Connectors (Switzerland), Lemo S.A. (Switzerland), Molex (United States) and Samtec (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In July 2022, Qosina introduced 25 new tube-to-tube barb connectors to its portfolio. Qosina has an extensive inventory of tube-to-tube barb connections in over 500 different designs. These connectors may support inner tube sizes as small as 1/32 inch (0.031 inches, 0.8 mm) and as large as 1 inch (25.4 mm).
In 2023, Fortune Medical launched two new products, one is a silicone gastrostomy tube, and the other is a silicone nasogastric tube that uses ENFit connector. This ENFit connector is based on ISO 80369-3 small-bore connectors for liquids and gases.The Global Medical Connectors market is fragmented with several top regional and international players. These players are focusing on designing medical connectors that are cost-effective and able to tolerate various sterilization protocols. Further, high reliability and eliminating the potential for failure due to various environmental factors as well as poor handling is also being focused on while developing medical connectors.
Regulatory Insights:
May 2019, Medical Product Outsourcing Company, Qosina (leading global supplier of OEM single-use components to the medical and pharmaceutical industries.) stocks a number of components that comply with the ISO 80369-7 standard, which specifies dimensions and requirements for the design and performance of small-bore connectors intended to be used in intravascular or hypodermic applications. and As a medical component supplier, Qosina stays abreast of regulatory changes and safety standards in the industry and provides customers with solutions to achieve compliance, minimize patient risk and be innovative when designing devices.
Influencing Trend:
The Advent of Cloud Storage and Paperless Healthcare in Medical Connector Device
Market Growth Drivers:
Growing Healthcare Industry and Technological advancements in Medical Devices, Upsurge in the Prevalence of Chronic Disorders and Owing to the Increasing Demand for Minimally Invasive Procedures
Challenges:
Rising Trend of Wireless Healthcare is posing a Challenge for the Market
Restraints:
Stringent Regulatory Standards for Medical Connectors
Opportunities:
Increasing Investment by the Government & Private Sectors in Healthcare to Improve Health Conditions
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Medical Connectors Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Medical Connectors Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Medical Connectors players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Medical Connectors Study Sheds Light on
The Medical Connectors Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Medical Connectors industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Medical Connectors industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.