The market for needle-free IV connectors is expected to grow from its 2023 valuation of US$ 1.26 billion to US$ 2.98 billion by the end of 2033, according to a recent industry report by market research and competitive intelligence firm Fact.MR.
Important instruments called needleless connectors (NCs) are fastened to the end of vascular catheters to provide access for aspiration and infusion. Healthcare professionals' preference for minimally invasive procedures, the growing incidence of vascular and cardiac illnesses, and the increased financial burden brought on by the rising prevalence of bloodstream infections and longer hospital stays for patients are some of the factors driving market growth.
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Trends Driving Opportunities in the Needle-Free IV Connectors Market
The growing prevalence of cardiovascular disorders, advancements in drug delivery systems, and the increasing adoption of minimally invasive procedures are driving the demand for needle-free devices.
In August 2021, Boehringer Ingelheim GmbH highlighted heart failure as a chronic condition impacting over 60 million people globally. Additionally, the WHO 2021 report revealed that over 700 million people worldwide suffer from untreated hypertension, significantly increasing the risk of heart, kidney, and brain disorders. As heart failure cases rise, the need for new treatment options is growing, leading to a surge in demand for needle-free injectors and IV connectors.
Improper needle and syringe use in healthcare settings can lead to infections, disorders, and even fatalities. The needle-free IV connectors market is expected to grow due to increasing bloodborne diseases like hepatitis B and C, as well as the rising need to prevent needle-stick injuries. WHO estimates show that improper needle usage causes approximately 1 million deaths globally.
Country-Wise Analysis
Demand Outlook for Needle-Free IV Connectors in the United States
The increasing adoption of needle-free IV connectors in the United States is driven by factors such as improved healthcare infrastructure, a growing senior population, and heightened awareness among healthcare professionals about the advantages of needleless connectors.
According to the latest data from the Centers for Disease Control and Prevention (CDC) released in October 2022, a heart attack occurs in the U.S. every 40 seconds, with over 805,000 Americans experiencing a heart attack annually. This surge in cardiac cases, along with the growing use of catheters for treatment, is driving the demand for IV connectors. As a result, the rising prevalence of heart-related disorders is expected to accelerate sales growth during the forecast period.
Competitive Landscape
As per Fact.MR, a market research and competitive intelligence firm, leading players in the needle-free IV connectors market are employing a range of strategies, including mergers, acquisitions, new product development, and innovations. To strengthen their market position and increase revenue, companies are also focusing on local supply strategies, such as forming partnerships with regional suppliers, adjusting pricing based on local demand, and investing in technological advancements.
B Braun's CARESITE needleless connectors are positive displacement devices designed to reduce catheter occlusions while protecting healthcare workers from accidental needle-stick injuries.
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