The medical connectors market is projected to reach USD 2.69 Billion by 2021 from USD 1.63 Billion in 2016, at a CAGR of 10.5%.
On the basis of products, the market is classified into flat surgical silicone cables, embedded electronics connectors, radio-frequency connectors, disposable plastic connectors, hybrid circular connectors & receptacle system, power cords with retention system, lighted hospital-grade cords, magnetic medical connectors, and push-pull connectors. In 2016, the flat silicone surgical cables segment accounted for the largest share of the market. The increasing adoption of connectors in medical devices is expected to fuel the growth of the market during the forecast period. The growth of the medical devices market is also one of the major factors influencing the growth of this product segment.
Based on applications, the market is segmented into cardiology devices, diagnostic imaging devices, electrosurgical instruments, patient monitoring devices, endoscopy devices, respiratory devices, analyzers & processing instruments, dental instruments, neurology devices, enteral devices, and other applications. The Patient Monitoring Devices segment accounted for the largest share of the market in 2016. The factors such as increasing incidence of chronic diseases and increasing demand for Home Healthcare settings are driving the growth of this market.
Based on the end users, the global medical connectors industry is segmented into hospitals & clinics, diagnostic laboratories & imaging centers, ambulatory surgical centers, and other end users. The hospitals & clinics end user segment accounts for the highest growth of the market during the forecast period due to the factors such as the increasing demand for the minimally invasive surgeries and highly developing healthcare infrastructure.
Geographically, the market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). Growth in the North American segment is primarily driven by the increase in the prevalence and incidence of chronic diseases and increased demand for better healthcare infrastructure. The major players in the market are Amphenol Corporation (U.S.), Delphi Automotive LLP. (U.K.), Esterline Corporation (U.S.), ITT Corporation (U.S.), Smiths Interconnect (U.K.), TE Connectivity Ltd. (Switzerland), Fisher Connectors (Switzerland), Lemo S.A. (Switzerland), Molex (U.S.), and Samtec (U.S.).