Pune, India -- (SBWIRE) -- 10/17/2018 -- Global Medical Connector Market – Growing Adoption Of Medical Devices And Sterilizable, And Disposable Medical Connectors Is Driving A Significant Growth

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.

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The advancements in medical technology demand next-gen medical connectors. The medical connectors have huge demand in medical sector as it fulfills the client's expectation in medical treatments. The technological advancements in the medical industry has boosted the market growth. In electronic industry, these medical connectors are used as these are battery powered portable devices that can improve their convenience. For instance, the computing elements require a high-speed, high-density interconnect to support high-speed data processing, and large images displayed on high-resolution screens are further add to the magnitude of data that needs to be processed.

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.

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.

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.

Segments:
The global Medical connector market has been segmented on the basis of light source type, offering, applications, and region.
Global Medical connector market by Material:

Plastic

Metal

Other
Global Medical connector market by Connector Size (mm):

<=10 mm

11mm -20 mm

>= 20 mm

Others
Global Medical connector market by Regions:

North America

Europe

APAC

Rest of the World

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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:

1.3.1 Global Medical Connector Market: By Material

1.3.2 Global Medical Connector Market: By Connector Size

1.3.3 Global Medical Connector Market: By Region

Continued…

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LIST OF TABLES

Table 1 Medical Connector Market, By Material

Table 2 Medical Connector Market, By Connector Size

Table 3 Medical Connector Market, By Regions

Table 4 North America Medical Connector Market, By Material

Continued…

LIST OF FIGURES

Figure 1 Research Methodology

Figure 2 Medical Connector Market: By Material (%)

Figure 3 Medical Connector Market: By Connector Size (%)

Figure 4 Medical Connector Market: By Region (%)

Continued…

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