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Global Needle-Free IV Connectors Market To Reach Worth US$ 1,198.2 Mn By 2025 - Credence Research
Browse the full report Needle-free IV Connectors Market - Growth, Future Prospects and Competitive Analysis, 2017-2025 report at http://www.credenceresearch.com/report/needle-free-iv-connectors-market
Market Insights
Global needle-free IV connectors market was valued at US$ 579.9 Mn for the year 2016 and is anticipated to reach US$ 1,198.2 Mn by 2025 with a considerable CAGR of 8.4%. Increased research and development for the needle-free products, rise in demand for more reliable IV administration methods, adoption of more sterilized methods for patient compliance are some of the factors that are driving the market. However, cost of the connectors and complications related to the use of needle-free connectors hinder the global needle-free IV connectors market. According to the World Health Organization (WHO), an estimate of 1.3 million people die due to unsafe injections practices. Furthermore, around 2% of HIV cases are caused by unsafe injections practices. Hence, these factors contribute to surge in the global needle-free IV connectors market.
Based on the mechanism, the global needle-free IV connectors market is segmented into neutral fluid displacement connectors, positive fluid displacement connectors, and negative fluid displacement connectors. This segmentation is based on the functioning of the connectors and involves the fluid mechanism inside them. In terms market value, positive fluid displacement connectors dominated the global needle-free IV connectors market for the year 2016.
Based on the design, the global needle-free IV connectors market is segmented into simple and complex connectors. Simple IV connectors do not contain any internal mechanism and allow the flow of fluid directly through the device lumen. However, complex IV connectors have an internal mechanism to control the flow of the fluid. In term of market value, complex IV connectors dominated the global needle-free IV connectors market for the year 2016.
Based on the geographical demarcation, North America held the largest share in global market in 2016 and is expected to grow at considerable pace due to increased demand for the sterilized techniques. Key players in the global needle-free IV connectors market include Amsino International, Inc., B. Braun Melsungen AG, Baxter International, Inc., Becton Dickinson and Company, CareFusion Corporation, ICU Medical, Inc., Nexus Medical LLC, NP Medical, Inc., Poly Medicure Limited, RyMed Technologies LLC, Vygon SA and Victus.
Manufacturers are primarily concentrating on the development of innovative products that can reduce the risk of conventional IV administration methods as well as the complications associated with needle-free IV connectors. For instance, RyMed Technologies LLC has introduced InVision-Plus needle-free connectors that reduce the risk of bacterial contamination.
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