North America to Dominate the Global Market for Medical Connectors
Albany, NY -- (SBWIRE) -- 03/05/2018 -- The global medical connectors market is projected to grow at a CAGR of nearly 8.9% during the forecast period 2017-2026, according to a latest research added to the repository of Market Research Reports Search Engine (MRRSE). The report titled "Medical Connectors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2026" offers holistic insights on the global medical connectors market.
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According to the report, the global market is heavily influenced by macroeconomic factors pertaining to healthcare, such as rising investments, growing per capita income, development of innovative technologies, and favorable government support. Healthcare providers around the globe are focusing on providing high quality care to their patients, and this has led to procurement of innovative equipment and advanced solutions. These broader factors are likely to provide an impetus to the growth of the market during the assessment period.
Medical connectors have witnessed steady demand over the years, owing to their efficacy in connecting multiple devices and streamlining several processes. The adoption is especially pronounced in imaging devices, as these generate voluminous amount of data. The steady adoption of these devices in hospitals and clinics is likely to provide an impetus to the growth of the market during the assessment period.
In a bid to give readers detailed analysis on the global medical connectors market, the report offers segmentation on the basis of application, product type, end user, and region. By product type, flat silicone surgical cables are likely to witness steady demand, whereas hospitals & clinics account for significant demand for medical connectors on the basis of end use. Medical connectors find significant applications in the field of diagnostic devices, monitoring devices, and therapeutic devices. Among these, demand for diagnostic devices is likely to be significant during the assessment period.
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North America, led by the US, continues to be one of the leading segments for medical connectors market during the assessment period. The US will continue to account for leading share of the market, whereas Canada is expected to account for miniscule revenue share. In addition to North America, Asia Pacific is likely to emerge as a lucrative market for medical connectors during the assessment period. The demand for medical connectors in Asia Pacific is likely to remain concentrated in China and India.
The key players operating in the global medical connectors market have been profiled in detail in the report. Some of the leading players in the market include AVX Corporation, Molex, LLC, Fischer Connectors SA, Samtec, Inc., Smiths Group Plc, Esterline Technologies Corporation, LEMO S.A., TE Connectivity Ltd, ITT Inc., and Amphenol Corporation. These leading players are focusing on product innovation and expansion into new markets for consolidating their position.
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