Medical Connectors Market Rising Demand for Imaging and Diagnostics Equipment

According to Precision Business Insights (PBI) latest report, the medical connectors market was valued at USD 2,749.1 million in 2023, growing at a 12.1% CAGR from 2024 to 2030. The factors driving the medical connectors market are technological advancement in the medical connectors, the rising prevalence of chronic diseases, and the growing demand for imaging technologies.

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The Medical Connectors Market Detailed Segmentation:
Based on the product, the market is segmented into the following:
• Flat Surgical Silicone Cables
• Embedded Electronics Connectors
• Radio-Frequency Connectors
• Disposable Plastic Connectors
• Hybrid Circular Connectors and Receptacle System
• Power Cords with Retention System
• Lighted Hospital-Grade Cords
• Magnetic Medical Connectors
• Push-Pull Connectors

Based on the end-user, the market is segmented into the following:
• Hospital & Clinic
• Diagnostic Laboratories and Imaging Centers
• Ambulatory Surgical Centers
• Other End Users

Based on the application, market is segmented into the following:
• Patient Monitoring Devices
• Diagnostic Imaging Devices
• Electrosurgical Instruments
• Cardiology Devices
• Endoscopy Devices
• Respiratory Devices
• Analyzers
• Processing Instruments
• Dental Instruments
• Neurology Devices
• Enteral Devices
• Other Applications

Based on the application, the global medical connector market is segmented into Patient Monitoring Devices, Diagnostic Imaging Devices, Electrosurgical Instruments, Cardiology Devices, Endoscopy Devices, Respiratory Devices, Analyzers, Processing Instruments, Dental Instruments, Neurology Devices, Enteral Devices and Other Applications. Among all of these patient monitoring devices are projected to account huge revenue share in the forecast period. Patient monitoring systems are collections of machines or equipment utilized to constantly monitor patients during the various vital signs and warning systems to detect and record changes in patient wellbeing. Furthermore, in minor and major events, patient monitoring devices are utilized to monitor a patient's clinical symptoms and related technical hitches.

Additionally, these devices can be utilized to track patients' physiological data through developments in wireless technology. The increasing occurrence and prevalence of chronic diseases are anticipated to drive segment growth. Such instruments are a vital part of several healthcare facilities, as they are intended to assist physicians evaluate a disease's severity. For instance, based on the article publicized in Circulation Research in May 2021, in France, over one million people were affected by heart failure (HF) in 2020 and there were more than 155,000 hospitalizations notwithstanding well-defined treatment management. Consequently, the rising prevalence of chronic diseases is projected to boost segment growth during the forecast period, which in turn is anticipated to drive the patient monitoring devices market in the forecast period.

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Based on the geography the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

The North America market to increase in the Medical Connectors market over the forecast period. The North America market is expanding as a result, this is due to factors such as the increasing occurrence of chronic diseases like tumours, blood disorders, autoimmune diseases, and other diseases. Furthermore, the obtainability of unconventional healthcare infrastructure is one of the major factors. In the North American region, the United States grips the largest market share due to factors such as the aggregate population suffering from cancer. Additionally, product promotions by market players. For instance, as demonstrated by the Canadian Cancer Society's 2021 statement, about 230,200 new cancer cases were predicted in Canada in 2021. On average, 630 Canadians are diagnosed with cancer every day, which is further expected to increase in the future. Lung, breast, colorectal, and prostate cancers are the most common types of cancer in Canada (excluding non-melanoma skin cancer). Consequently, the rising prevalence of chronic diseases in the region is likely to support the growth of the market.

Strategic New Product Launches, Mergers, Acquisitions, and Concurrence are the key tactics adopted by market players:
In the recent research the Medical Connectors market further divulge that the key players are intensively adopting strategies such as the inauguration of the novel medical devices, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In July 2022, Qosina brought together 25 novel tube-to-tube barb connectors to its assortment. Qosina has an all-encompassing catalog of tube-to-tube barb connections in over 550 diverse designs. These connectors may assist inner tube sizes as small as 1/32 inch (0.031 inches, 0.8 mm) and as large as 1 inch (25.4 mm).

The key players in the medical connectors market are Amphenol Corporation, Delphi Automotive LLP, ITT Interconnect Solutions (A Subsidiary of ITT Corporation), Smith's Interconnect (A Division of Smiths Group), TE Connectivity Ltd., Fischer Connectors, Molex (A Subsidiary of Koch Industries), Esterline Technologies Corporation, LEMO S.A, Samtec, ODU GmbH & Co. KG

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This release was published on openPR.