Our in-depth analysis of the global acute care needleless connector market includes the following segments:
By Mechanism Type
By Connector Type
By End-user Industry
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The Asia Pacific is expected to grow at a lucrative rate over the forecast period due to the increasing prevalence of chronic diseases, favorable government initiatives on the development of healthcare infrastructure, and rapid economic consequences in Asian countries such as Japan, China India. Furthermore, in 2021, North America has emerged as one of the highest revenue-generating regions due to rising awareness levels among healthcare practitioners pertaining to the advantages of needleless connectors, improved healthcare infrastructure, and rapid growth in the geriatric population. According to the Centers for Disease Control and Prevention (CDC), the number of emergency department visits resulting in hospital admission was 16.2 million in 2016. Hence, with the increasing number of emergency department visits, the acute care needleless connectors market growth in the United States is expected to increase.
The global acute care needleless connector market is further classified on the basis of region as follows:
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: Technological advancements in needleless connectors increasing emergency visits in hospitals increasing geriatric population in the world are the key factors driving market growth.
Ans: The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
Ans: Inadequate staff training and lack of technicians are estimated to hamper market growth.
Ans: The market in Asia Pacific region will provide growth due to favourable government initiatives pertaining to the development of healthcare infrastructure, and rapid economic developments in Asian countries such as Japan, China, and India.
Ans: The major players dominating the acute care needleless connector market are Becton Dickinson and Company, Cardinal Health, Nexus Medical, B. Braun Melsungen AG, Baxter International Inc. among others.
Ans: The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by mechanism type, connector type end-use industry and region.
Ans: With respect to application, the speciality hospitals segment is anticipated to hold the largest market share owing to the increasing number of emergency visits to the hospitals.