The Global Needle-free IV Connectors Market by design (simple and complex), mechanism (positive, negative, and neutral), dwell time (seven-day and other than seven-day) and region (North America, Latin America, Europe, Asia-Pacific, the Middle East, and Africa) was valued at US$ 621.1 million in 2016 and is projected to exhibit a CAGR of 10.3% over the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Growing prevalence of chronic diseases with need of treatment for the same, the risk of possible bloodstream infections and effectiveness over conventional IV administration are expected to be the major factors driving the growth of the global needle-free IV connectors market over the forecast period.
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Manufacturers are focusing on minimizing the risks associated with IV administration with conventional methods as well as any existing minor issues associated with the use of needle-free IV connectors namely blood reflux caused by gasket compression and blood reflux due to disconnection. For instance, MicroClave connector from ICU Medical provides minimal blood reflux in the catheter tip. The company has received three type of the U.S. patents for MicroClave clear needle-free connector in 2015 and 2016. RyMed Technologies developed InVision-Plus with the neutral advantage technology designed to reduce the bacterial contamination. Furthermore, Nexus Medicals has designed a next generation infusion therapy technology, Nexus TKO to solve infection and occlusion issues.
Manufacturers are working on developing and providing connectors for intravenous as well as for other routes of administration. ICU Medical’s Tego needle-free connector is world’s first Food and Drug Administration (FDA) approved in hemodialysis applications. Furthermore, in 2016, Vygon S.A. launched Nutrifit enteral connectors, which are used for neonates and newborns for safe and secure enteral feeding. The companies have resorted to mergers and acquisitions in the past few years to make use of the innovative IV administration technologies present in the market along with increasing their own product portfolio in order to create a strong presence in the intravenous therapies market, which is expected to propel the market growth over the forecasted period. In 2017, ICU Medical completed acquisition of Hospira Infusion Systems from Pfizer Inc., in 2014 Becton, Dickinson and Company acquired CareFusion Corporation and Medtronic Plc acquired Covidien.
Browse 70 Market Data Tables and 30 Figures spread through 200 Pages and in-depth TOC on ” Needle-Free IV Connectors Market by Design (simple and complex), Mechanism (positive, negative, and neutral), Dwell Time (seven-day and other than seven-day) and Region (North America, Latin America, Europe, Asia-Pacific, the Middle East, and Africa) – Global Forecast to 2025
To know the latest trends and insights prevalent in the Needle-Free IV Connectors Market, click the link below: https://www.coherentmarketinsights.com/market-insight/needle-free-iv-connectors-market-426
Key Takeaways of the Needle-Free IV Connectors Market:
- The global needle-free IV connectors market is expected to exhibit a CAGR of 3% over the forecast period (2016–2025), owing to the presence of high potential markets, especially in Asia Pacific, Latin America, the Middle East, and Africa
- Robust developments in connector designs, mergers and acquisitions, and inclusion of novel connector technologies in the market are expected to drive the global needle-free IV connectors market.
- Some major players operating in the needle-free IV connectors market are Baxter International Inc., B. Braun Melsungen AG, Becton, Dickinson and Company, CareFusion Corporation, ICU Medical, Inc., Nexus Medical LLC, RyMed Technologies, LLC, and Vygon SA.
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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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