Increase in Number of Chronic Diseases around the World to Propel the Growth of Global Intravenous Line Connectors Market by 2027 – Exclusive Report by Research Dive
The global market for intravenous line connectors is anticipated to observe notable growth over the forecast period, owing to growing cases of chronic diseases across the globe. By mechanism, the positive sub-segment is estimated to hold largest market share by 2027. Regionally, the North America market is anticipated to observe lucrative growth in the projected timeframe.
New York, USA, May 25, 2021 (GLOBE NEWSWIRE) -- According to a newly published report by Research Dive, the global intravenous line connectors market is estimated to witness significant growth over the forecast period from 2020 to 2027. As per our analysts, the growing cases of chronic diseases coupled with the rise in number of hospital admissions across the globe is the major factor estimated to bolster the growth of the global intravenous line connectors market over the forecast period. In addition, the rising preference of healthcare professionals towards minimal use of needles for infusion is another factor predicted to boost the market growth. Moreover, the increasing R&D activities in the intravenous line connectors is estimated to create massive growth opportunities for the global market by 2027.
On the other hand, risks & complications related with the devices and the lack of knowledge about handling the devices are expected to hinder the market growth in the coming future. Also, the COVID-19 pandemic has adversely affected the global intravenous line connectors market in 2020 due to disruption in raw material supply and shutting down of manufacturing units of intravenous line connectors.
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Positive Sub-segment to be Most Profitable
By mechanism, the positive sub-segment is projected to dominate the market in terms of share by 2027, owing to its low cost and benefits associated with positive fluid displacement connectors, such as controlling blood reflux by pushing out the fluid like glucose and others.
Y-channel Sub-segment to Observe Exponential Growth
By type, the Y-channel sub-segment is expected to grow at significant rate and generate largest share in the market during the forecast period. This can be attributed to increasing usage of Y-channel type connectors in drug administration for the treatment of various diseases including cancer.
Hospital Sub-segment to Hold Largest Market Share
By distribution, the hospital sub-segment is projected to account for majority of share in the global industry by 2027. This is majorly because a huge number of vascular infusion procedures applicable for drug dose and medication are carried out in hospital settings leading to wide usage of intravenous line connectors are widely used in such surgeries.
North America to Account for Largest Market Share
By region, the North America market for intravenous line connectors is predicted to hold a dominant position in the global industry by 2027. The dominance of the region can be majorly attributed to rise in number of chronic diseases and growing need for hospitalizations.
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Major Market Players
The players operating in the global intravenous line connectors industry include -
- RyMed Technologies
- Becton Dickinson and Company
- ICU Medical, Inc
- Baxter International Inc., LLC
- Vygon S.A.
- CareFusion Corporation
- Nexus Medical LLC
- B. Braun Melsungen AG
Further, the report presents and outlines various aspects of these major players such as business & financial performance, latest developments, key strategic moves, product portfolio, and SWOT analysis.
These players are applying business tactics and adopting several strategies to hold a robust position in the global industry. For instance, in November 2019, ICU Medical, Inc. a leader in the development, manufacturing, and sale of innovative medical products used in critical care applications, entered into an agreement to acquire Pursuit Vascular, a medical devices company. The aim behind this acquisition is to develop novel needle-free intravenous (IV) connectors and improve patient safety by creating the best workflow for clinicians.
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