Market Research Future (MRFR) in its latest medical connector market 2020 reveals factors which are likely to largely impact the market. As per MRFR analysis, the medical connector market can thrive at about 8% CAGR across the review period 2017 to 2023. The medical connector market value can touch over USD 2 Bn by 2023. A complete assessment on the influence of COVID 19 Pandemic on the medical connector market is offered with the report. The increase in the medical connector market size can be attributed to the increase in the application of medical electronics, such as diagnostic, heart-lung machines, Magnetic resonance imaging (MRI), ultrasound, surgical, electrocardiography, defibrillators, and other therapy systems. The rise in the demand for medical connectors is likely to underpin the rise of the medical connector market across the analysis period. The rise in the adoption of ultrasound solutions and constantly growing preference for custom designed can also promote the expansion of the medical connector market through the study period. In addition, and the need to refurbishing medical devices can prompt the expansion of medical connector market through the assessment period. The inclination towards sterilizable, disposable, and reusable medical connectors is another factor that can significantly drive the market growth.
Key Players
MRFR listed some well-known players of the medical connector global market. They are; Smiths Interconnect (U.K.), ITT Corporation (U.S.), Amphenol Corporation (U.S.), Delphi Automotive LLP. (U.K.), TE Connectivity Ltd. (Switzerland), Molex (U.S.), Fisher Connectors (Switzerland), Samtec (U.S.) Lemo S.A. (Switzerland), Esterline Corporation (U.S.), and among others.
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Segment Study
The segment study of the medical connector global market is based on offering, light source type, and applications. The material based segments of the medical connector market are plastic and metal among others. The connector size based segments of the medical connector market are 11mm -20 mm, <=10 mm, and >= 20 mm.
Detailed Regional Study
The regional study of Medical Connector Market Research by MRFR across Asia pacific, North America, and Europe, followed by the Rest of the World reveals that the medical connector market in North America can lead through the years to come. The medical connector market share in North America can escalate due to the rise in investment made by giant companies in the production of innovations of medical applications, such as catheters, dental tools, sensors, electro surgery tools, defibrillators, ECG devices, respirators, and others. Europe medical connector market can witness a sharp rise in the valuation in the forthcoming period due to rise in Whereas, Asia-Pacific countries like China, Japan and India is an emerging market for medical connectors market and expected to be the highest CAGR in the coming years.
Asia Pacific is observed to rise as an exponentially growing market through the review period. The dominance of medical connectors market in the forecast period can be attributed to factors, such as rise in chronic diseases cases that include autoimmune diseases, cancer, blood disorder, and other diseases. In addition, the availability of advanced and robust healthcare infrastructure are another factors that can prompt the medical connector market in APAC. In North America, the United States can hold the highest share of the global market owing to factors such as, increase in number of populace distressed from cancer and other type of chronic disorders, along with the expansion of the geriatric populace and developments concerning medical connectors. The surge in demand for these systems across the country is anticipated to prompt the rise of North America medical connector market.
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