Medical Connectors Market Growing at a CAGR of 10.5% During 2016 to 2021 - ReportsnReports
PUNE, India, May 10, 2017 /PRNewswire/ --
Medical Connectors Market grows from $1.63 billion to $2.69 billion, at a CAGR of 10.5% from 2016 to 2021. Major factors for growth are increasing incidence and prevalence of chronic disorders, rapid growth in aging population. Patient monitoring devices segment accounted for the largest share led by North America Region.
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The medical connectors market is projected to reach USD 2.69 billion by 2021 from USD 1.63 billion in 2016, at a CAGR of 10.5%. The major factors contributing to the growth of the global market include the increasing incidence and prevalence of chronic disorders, rapid growth in the aging population, which in turn leads to the increasing demand for medical devices and high healthcare expenditure. However, the growing demand for wireless devices and stringent regulatory standards for medical connectors are the major restraints for the market.
Based on application, the market is segmented into patient monitoring devices, electrosurgical instruments, cardiology devices, diagnostic imaging devices, endoscopy devices, respiratory devices, analyzers and processing instruments, dental instruments, neurology devices, enteral devices, and other applications. In 2016, the patient monitoring devices segment accounted for the largest share of the global market. The large share of this application segment is attributed to increasing incidence of chronic diseases and increasing adoption of patient monitoring devices.
On the basis of end user, the market is segmented into hospitals& clinics, diagnostic laboratories &imaging centers, ambulatory surgical centers, and other end users. The hospitals &clinics end user segment accounted for the largest share of the market during the forecast period owing to the growing incidence of chronic disorders and increasing demand for electrosurgical therapy.
Geographically, North America dominates the market. Growth in the North American segment is primarily driven by the rapid growth in the aging population, availability of reimbursement for several surgeries, and increasing incidence of major disorders. In addition, the high growth potential in the Asian region provides opportunities for players in the market.
Order a copy of Medical Connectors Market by Product (Flat Silicone, Hybrid, Embedded, Radio Frequency, and Push-Pull), Application (Patient Monitoring, Electrosurgery, Endoscopy, Diagnostic Imaging, Respiratory, Dental Device) & by End User - Global Forecast to 2021 Research Report at
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The major players in the market are Amphenol Corporation (U.S.), Delphi Automotive LLP. (U.K.), Esterline Corporation (U.S.), ITT Corporation (U.S.), Smiths Interconnect (U.K.), TE Connectivity Ltd. (Switzerland), Fisher Connectors (Switzerland), Lemo S.A. (Switzerland), Molex (U.S.), and Samtec (U.S.).
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