Global Acute Care Needleless Connectors Market to Reach US$972.0 mn by 2020, Driven by Rising Cases of Needlestick Injuries
The global acute care needleless connectors market is progressing at a CAGR of 10.2% from 2014 to 2012. The market is expected to be valued at US$972.0 mn by the end of 2020, according to a market research report released by Transparency Market Research. The report, titled “Acute Care Needleless Connectors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,” covers all aspects of the market to create an accurate projection for the same.
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According to the report, the global acute care needleless connectors market is currently boosted by a growing prevalence of needlestick injuries, added to a growing population of the elderly. Globally, there is a high number of patients suffering from chronic diseases, cancer, and diabetes. All these factors create a combination conducive to the growth of the global acute care needleless connectors market.
The global acute care needleless connectors market is, however, restrained by the high cost of needleless connectors from within a branded variety which leads consumers to reach for easily available substitutes. The global acute care needleless connectors market is also hindered by a growing prevalence of bloodstream infections caused by catheters.
The report adds that the global acute care needleless connectors market is still expected to prosper in the near future, owing to the growing investments made by developing economies in research and development efforts. The global acute care needleless connectors market could achieve a high growth rate through the higher rate of use of needleless connectors in developing economies.
The report provides a segmented view of the global acute care needleless connectors market based on design, mechanism, dwell time, and geography.In product designs, the global acute care needleless connectors market was led by complex needleless connectors in 2013, with over 50%. The report’s forecast period is expected to see simple needleless connectors grow at the fastest pace.
Positive fluid displacement devices led the global acute care needleless connectors market in 2013, in the mechanism segment The report, however, explains that positive displacement devices carry a high risk of causing CRBSI, hindering the market’s growth rate. Consequently, the global acute care needleless connectors market is expected to be boosted by a growing preference for neutral displacement connectors. The neutral fluid displacement connectors market is expected to display a 11.0% CAGR from 2014 to 2020.
North America registered the highest growth rate in the global acute care needleless connectors market in 2013. The report, however, states that Asia Pacific will display the fastest CAGR over the report’s forecast period.
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Key players in the global acute care needleless connectors market are RyMed Technologies, Vygon SA, ICU Medical Inc., CareFusion Corp., Nexus Medical, Baxter Int. Inc., Becton Dickinson and Co., and B. Braun Melsungen. The report analyzes all key players to provide an accurate competitive landscape of the global acute care needleless connectors market.
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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