The Medical Connector Market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on the Medical Connector Market highlights the future prediction and the growth alternatives that can be created.
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Market Research Future (MRFR) study on the world medical connector market 2020 reveals factors that can influence market rise. As per MRFR findings, the global medical connector market can rise at about 8% CAGR from 2017 to 2023. MRFR findings also states that the integrated systems market value can rise over USD 2 Bn by 2023. The high adoption of medical devices is observed as the critical factors that can increase the market size. The rise in the utility of medical electronics, such as ultrasound, electrocardiography, defibrillators, Magnetic resonance imaging (MRI), surgical, diagnostic, heart-lung machines, and therapy systems can prompt the rise of the medical connector market growth. The growing applications of medical systems is attributed to the rise in the demand for medical connectors. These factors can support the expansion of the medical connector market. The adoption of ultrasound solutions and the surge in need for high numbers of cycles can prompt the growth of the medical connector market. The high preference for custom designed 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.
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.
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.
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Detailed Regional Study
The regional study of medical connector market 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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