With a large pool of vendors of acute care needleless connectors
across the world, the global acute care needleless connectors market
are displaying a highly competitive business landscape, states a new
study by Transparency Market Research (TMR). As researchers review
the performance of each of the leading market players in this report,
they find out that innovation is pivotal to success in this market
and companies are constantly investing in research initiatives to
design and develop innovative connectors that meet the dynamic
expectations of customers. CareFusion Corp., Becton, Dickinson and
Co., Baxter Healthcare Corp., RyMed Technologies, Vygon SA, B. Braun
Medical Inc., ICU Medical, and Nexus Medical LLC are some of the
leading vendors of acute care needleless connectors, worldwide,
reports the study.
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As per TMR estimations, the global market for acute care needleless
connectors, rising at a CAGR of 10.20% during the period from 2014 to
2012, is anticipated to reach a value of US$972.0 mn by the end of
the forecast period. Hitherto, the demand for complex needleless
connectors was higher than products. However, simple needleless
connectors are expected to report a rise in their demand at a faster
rate in the years to come. Geographically, North America, which is
the current leader of the overall market, is projected to continue on
the top over the period of the forecast, thanks to the presence of an
advanced medical and healthcare infrastructure, notes the research
study.
According to the author of the study, “the global market for acute
care needleless connectors is witnessing an incredible rise, thanks
to the increasing cases of needlestick injuries and blood drawback,
together with an escalating base of the geriatric population.” The
increasing number of patients suffering from various chronic
disorders, such as diabetes, cardiac diseases, and cancer, is also
influencing the sales of acute care needleless connectors, as the
awareness regarding the benefits of needleless connectors is
increasing substantially among medical professionals and patients,
both.
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The market is also gaining from the increasing disposable income of
people in emerging economies, which has enabled them to spend
comfortably on expensive treatments and afford costly medication and
medical devices, states the research report.
The worldwide market for acute care needleless connectors, although,
looks flourishing, it may hit some roadblocks in future, such as the
high cost of branded needleless connectors, resulting in consumers
reaching for easily available substitutes. The market may also get
hampered by the increasing incidence of bloodstream infections
triggered by catheters.
Nonetheless, the market will still prosper in the years to come,
thanks to the rising investments made by emerging economies in
research and development initiatives. With companies increasingly
establishing their production units in emerging countries, the market
is likely to witness a high growth in the coming years, reports the
market study.
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