Business impacts of COVID-19 on Medical Connectors Market. Strategies of major industry competitors

Cardiovascular diseases kill about 18 million people, while cancer claims around 9.5 million lives each year, says the World Health Organisation (WHO). Similarly, the CDC says that every six in 10 people in the US have a chronic disease. This rising prevalence of long-term diseases is leading to an increase in the demand for healthcare and medical services. Thus, with the expanding patient pool, new hospitals and other healthcare centers are being constructed, which is creating a high demand for various medical devices and associated components.

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This is the primary reason for the growth of the medical connectors market, as none of the electrical systems in medical settings can effectively function without connectors. Board-to-board, push-pull, radio-frequency (RF), magnetic, disposable plastic, hybrid, light-weighted hospital-grade, power/high-voltage, and input/output (I/O) rectangular connectors and power cords with retention systems are used in the healthcare sector. Among these, the demand for RF connectors would rapidly rise in the coming years, owing to the swift miniaturization of medical equipment.

In the coming years, the medical connectors market is expected to witness the fastest growth in Asia-Pacific (APAC), as a result of the rising geriatric population, incidence of chronic illnesses, primarily diabetes and cancer, spending on healthcare and medical research and development (R&D), and disposable income of people. For instance, according to the United Nations Department of Economic and Social Affairs (UNDESA), people aged 60 and above made up 23.2% of the Japanese population in 2000, and this percentage would rise to 35.1% by 2025.

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GLOBAL MEDICAL CONNECTORS MARKET, BY PRODUCT
o Board to board
o I/O rectangular
o Push-pull
o Radio-frequency
o Disposable plastic
o Hybrid circular connectors and receptacle systems
o Power/High voltage
o Others (magnetic medical connectors, light weighted hospital grade connectors, power cord with retention systems)
GLOBAL MEDICAL CONNECTORS MARKET, BY APPLICATION
o Patient monitoring
o Electrosurgical
o Diagnostic imaging
o Cardiology
o Dental
o Others (analyzers and processing equipment, respiratory devices, endoscopy devices, neurology devices and enteral devices.)
GLOBAL MEDICAL CONNECTORS MARKET, BY END USER
o Hospitals
o Diagnostic laboratories & imaging centers
o Ambulatory surgical centers & clinics
o Others (academic institutions and research laboratories)

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