The globaláneedleless connector market showcased impressive expansion in 2023, reaching a total value of $1.33 billion. This figure represents a substantial 5.8% increase from the previous year's market valuation of $1.26 billion.
Future projections for the needleless connector market indicate a stable growth trajectory, with a compound annual growth rate (CAGR) of 4.5%, culminating in an estimated value of $1.80 billion. Remarkably, the global needleless connector market is currently led by two key players, Becton Dickinson (BD) and ICU Medical.
Strong Growth: The global needleless connector market experienced robust growth in 2023, reaching a total valuation of $1.33 billion, marking a 5.8% increase compared to the previous year.
Market Leaders:Becton Dickinson (BD) and ICU Medical have emerged as dominant forces in the global needleless connector market.
Comprehensive Research: This comprehensive medical market research involved an extensive analysis of more than 15 intravenous set companies spanning seven continents. Employing a rigorous methodology, the research examined market sizes, unit sales, company market shares, and generated precise forecasts. The report provides a comprehensive overview of both hospital and non-hospital needleless connectors within the global intravenous sets market.
Emerging Markets: The forecasted period anticipates emerging markets benefiting from a gradual shift towards mechanical valve devices. While concerns have been raised regarding specific configurations of mechanical valve needleless connectors (NLCs), a significant number of these devices have proven their capability to enhance overall patient outcomes. This shift towards mechanical valve NLCs is expected to positively impact the overall market's value in the coming years.
Global Market Leaders
Becton Dickinson (BD): In 2023, Becton Dickinson (BD) solidified its position as the global leader in the Needleless Connector (NLC) market. The company's dual role as an infusion pump manufacturer further strengthens its position, allowing for the bundling of NLCs with its devices. This strategy enhances brand recognition and its ability to manufacture and market various disposable products in substantial quantities at competitive prices.
ICU Medical: ICU Medical secured the second position in the global NLC market in 2023. The company's ClaveT connector, featuring innovative design that seamlessly integrates the external blunt cannula into the split septum structure, ensures compatibility with any standard male Luer connector.
Needleless Connector Market - Segmented By: Care Setting (Hospital, Non-Hospital)
The global needleless connector market is poised for sustained growth, with Becton Dickinson (BD) and ICU Medical at the forefront of market leadership. Emerging markets are expected to benefit from a shift towards mechanical valve devices, and the industry will continue to see innovation and competition among players.
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