The Medical Connector market studied was anticipated to grow with a CAGR of 10.3%, during the forecast period. The major factors attributing to the growth of the medical connectors market are the rising incidence of chronic diseases such as autoimmune diseases, cancer, blood disorder, and others. The rise in the population suffering from chronic diseases are also propelling the demand for these medical connectors. In 2018, as per the AARDA (AMERICAN AUTOIMMUNE RELATED DISEASE ASSOCIATION) statistics, around 50 million Americans have an autoimmune disease, and this number is expected to rise in the future. As per the CDC (CENTERS FOR DISEASE CONTROL AND PREVENTION) estimates Sickel Cell Disease (SCD) affects around 100,000 Americas annually. And there are few more factors which are playing crucial roles in taking the medical connectors market to the next level, among them one technological advancement and medical connectors developments which are expected to further propel the medical connectors market growth.

Key Market Trends

Patient Monitoring Segment is Expected to Hold the Largest Market Share in the Medcial Connectors Market

Throughout minor & major procedures, patient monitoring devices are being used to monitor the clinical symptoms and related complications of a patient. In addition, these devices can be used to track the patients ’ physiological parameters remotely with the advances in wireless technology. Rising incidence and prevalence of chronic diseases is expected to drive the market growth for patient monitoring devices as such instruments are a crucial part of various healthcare facilities, as they are expected to help physicians assess a disease’s severity.

As per the statistics from GLOBOCAN 2018, worldwide 18,078,957 individuals have cancer. Asia remains the leading contributor in the rising incidence of cancer with a reported share of 48.4% followed by Europe, North and Latin America, Africa, and Oceania with a share of 23.4%, 13.2% and 7.8%, 5.8%, and 1.4% respectively.

North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to dominate the overall medical connectors market, throughout the forecast period. This is owing to factors such as the rising incidence of chronic diseases such as cancer, blood disorder, autoimmune diseases, and other diseases and the availability of advanced healthcare infrastructure among the major factors. In North America region, the United States holds the largest market share owing to the factors such as increasing number of population suffering from cancer and other chronic disease, along with the rising geriatric population and developments related to connectors and rising demand for these types of systems in the country, is anticipated to further drive the market growth in the region.

Competitive Landscape

The medical connectors market is moderately competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. And some prominent players are vigorously making acquisitions and joint ventures with the other companies to consolidate their market positions across the globe. Some of the companies which are currently domianting the market are Amphenol Corporation, Smiths Interconnect, TE Connectivity, Fischer Connectors SA, and Molex, LLC

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