Rockville, Feb. 22, 2023 (GLOBE NEWSWIRE) -- The global needle-free IV connectors market is valued at US$ 1.26 billion in 2023 and is predicted to reach US$ 2.98 billion by the end of 2033, as per a new industry analysis by Fact.MR, a market research and competitive intelligence provider.
Needleless connectors (NCs) are crucial tools that are attached to the end of vascular catheters and allow access to the catheter for aspiration and infusion. The rising financial burden due to the growing prevalence of bloodstream infections and lengthier hospital stays for patients, healthcare professionals' preference for minimally-invasive procedures, and increasing incidence of vascular and cardiac illnesses are some of the factors boosting market growth.
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Demand for needle-free IV connectors is rising due to the growing cases of diabetics worldwide and the population of geriatrics, both of which are contributing factors to the use of access devices.
- The International Diabetes Federation (IDF) estimates that by 2040 the worldwide population of diabetic patients will increase to 640 million.
North America currently dominates the global needle-free IV connectors market due to the presence of key market players and the growing prevalence of chronic disorders. The European market is expected to rise at a healthy pace due to the availability of advanced healthcare infrastructure and increasing cases of infectious diseases in the region.
Key Takeaways from Market Study
- Global sales of needle-free IV connectors are expected to rise at a CAGR of 9% from 2023 to 2033.
- Germany’s market for needle-free IV connectors is predicted to expand at a CAGR of 7% between 2023 and 2033.
- Demand for needle-free IV connectors in China is forecasted to increase at an impressive CAGR of 12% during the forecast period.
- Sales of positive fluid displacement connectors are predicted to rise at a high CAGR of 9.5%.
Key Companies Profiled
- B. Braun Melsungen AG
- Baxter International, Inc.
- Becton, Dickinson and Company
- CareFusion Corporation
- ICU Medical, Inc.
- Nexus Medical LLC
- RyMed Technologies, LLC
- Vygon SA
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Competitive Landscape
According to Fact.MR, a market research and competitive intelligence provider, the key players in the needle-free IV connectors market are adopting various marketing tactics such as mergers, acquisitions, new product developments & innovations, and more. To earn more and maintain their market position they are also focusing on local supply strategies such as partnerships with local suppliers, changing pricing trends based on regional demand for products, and technological advancements.
- The CARESITE needleless connectors from B Braun are positive displacement devices that are intended to lessen catheter occlusions while shielding healthcare workers from unintentional needle sticks.
Recent Market Developments
- A strategic relationship between Gerresheimer AG and Portal Instruments was established in May 2022 to provide revolutionary needle-free drug delivery methods for the treatment of chronically ill patients. The companies are working together to give patients a pain-free injection experience.
Needle-free IV Connectors Industry Research Segmentation
- By Type:
- Positive Fluid Displacement Connectors
- Negative Fluid Displacement Connectors
- Neutral Fluid Displacement Connectors
- By Design:
- Straight Channel
- T-channel
- Y-channel
- Multi-channel
- By End User:
- Hospitals
- Ambulatory Surgical Centers
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global needle-free IV connectors market, presenting historical demand data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
The study divulges essential insights on the market on the basis of type (positive fluid displacement connectors, negative fluid displacement connectors, neutral fluid displacement connectors), design (straight channel, T-channel, Y-channel, multi-channel), and end user (hospitals, ambulatory surgical centers), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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