Worldwide Medical Connectors Market to be worth US$ 3,690.4 million by 2026, Says TMR

Albany, NY, March 01, 2018 -- The latest report by Transparency Market Research (TMR) anticipates the global medical connectors market to experience strong growth. During 2017-2026, the market is projected to increase to 8.9% CAGR. The global market for medical connectors is also likely to reach US$ 3,690.4 million revenue between 2017 and 2026.

Technological advancement in the medical industry is leading towards the rapid development of high-performance medical devices. Increasing need for medical devices is resulting in the growing demand for solutions that provides interconnectivity of these devices. Medical connectors are used as it helps in connecting single as well as multiple devices providing diagnostic analysis and information on person’s health. Medical connectors are also gaining popularity with the growing trend of robotic examination. Imaging and monitoring devices generate a lot of data hence these devices are used on a large scale in hospitals and clinics. This is driving the demand for medical connectors.

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Flat Silicone Surgical Cables- Top-Selling Product in Medical Connectors Market Globally

Compared to the various medical connector products, flat silicone surgical cables are likely to emerge as the top-selling product during 2017-2026. Flat silicone surgical cables are projected to reach close to US$ 900 million revenue towards the end of 2026. Increasing adoption of medical devices is one of the major factors in the growth of flat silicone surgical cables. Flat silicone surgical cables offer flexibility in automated diagnostic medical equipment. Moreover, flat silicone surgical cables also offer high resistance to different chemical substances. Silicone is being widely used in applications medical robotics, handheld devices, feeding tubes, catheters, etc.

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North America to Dominate the Global Market for Medical Connectors

North America is likely to dominate the market during 2017-2026. Advancement in medical technology, availability of better reimbursement policies are the major factors responsible for the increasing demand for medical connectors in North America. The U.S. and Canada are anticipated to remain dominant countries in the medical connectors market. Medical connectors market also have a huge opportunity for growth in the emerging markets of APEJ and Japan. Owing to the increasing awareness among medical providers on the use of advanced devices, countries such as India, China and Japan are increasingly using technically advanced medical devices, thereby resulting in the increase in the use of medical connectors.

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Competition Tracking

AVX Corporation, LEMO S.A., Samtec, Inc., Esterline Technologies Corporation, Fischer Connectors SA, Molex, LLC, TE Connectivity Ltd, ITT Inc., Amphenol Corporation, and Smiths Group Plc, are some of the major market players in the global market for medical connectors.

About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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