Market Trends of Small Bore Connectors Industry
This section covers the major market trends shaping the Small Bore Connectors Market according to our research experts:
Liquid bore connector From Product Segment Dominates the Market and is Expected to Continue the Same during the Forecast Period
The liquid bore connector is expected to dominate the small bode connectors market through the forecast period. The increasing adoption of liquid bore connectors that help to inject liquid nutrients or medicine to the stomach or intestines in patients who are unable to eat or drink by mouth or need supplemental nutrition. Thus acting as a high impact rendering factor for this segment's growth.
Increasing adoption of liquid bore connector for various applications such as breathing systems and driving gases, enteral and gastric, urethral and urinary, limb cuff inflation, neuraxial devices is supplementing the growth of this verticle.
On the other hand, Intravascular from application segment is expected to be the fastest-growing segment during the forecast period. It is generally used to deliver medications or fluids through a patient's neck, chest or veins in the arm. The International Organization for Standardization is taking several actions including the development of standardized connector designs for specific medical applications intended to physically prevent connections with devices used for other medical applications, which will positively influencing the growth of this verticle. For intsnace, ISO/FDIS 80369-7 External Link Disclaimer, is being finalized and will provide manufacturers with specifications for intravenous and hypodermic applications.
North America Dominates the Market and is Expected to Continue the Same during the Forecast Period
North America held a majority of the market share. The region suffers from the burden of rising chronic diseases and a growing geriatric population. North America has sophisticated healthcare facilities, and the reimbursement coverage contributes to the large market share of the region. According to the National Center for Chronic Disease Prevention and Health, 6 in 10 adults of the US have a chronic disease at some point in their lives. Chronic disease is the leading cause of death and disability and Leading Drivers of the Nation's USD 3.5 Trillion in Annual Health Care Costs. The aforementioned factors are expected to boost regional growth.
The Asia Pacific is anticipated to witness growth with a lucrative rate over the forecast period. The target population comprising individuals with chronic conditions such as neurological disorders, diabetes, and infectious disorders are on the rise in these developing regions. This provides avenues for players in this vertical to carry out campaigns and awareness programs with regards to disease treatment thereby increasing product penetration in the regional verticals. In low- and middle-income countries, communicable diseases and injuries comprise a growing proportion of the disease burden, which will further drive the demand for small bore connectors.
