LONDON–(BUSINESS WIRE)–Technavio market research analysts forecast the global needle-free IV connectors market to grow at a CAGR of close to 10% during the period 2018-2022, according to their latest report.
Increased adoption of neutral fluid displacement connectors is a key trend, which is expected to influence the market over the forecast period. Needle-free IV connectors are divided into positive fluid displacement connectors, negative fluid displacement connectors, and neutral fluid displacement connectors on the basis of the type of fluid displacement mechanism. The demand for neutral fluid displacement connectors is increasing as they aid in the prevention of blood reflux. Clinicians are encouraging the use of neutral fluid displacement connectors, which is expected to increase the sales of needle-free IV connectors during the forecast period.
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In this report, Technavio analysts highlight the rise in chronic diseases and the need for safe administration of medication as a key factor contributing to the growth of the global needle-free IV connectors market:
Rise in chronic diseases and the need for safe administration of medication
There is an increase in the prevalence of chronic diseases such as cancer, CVDs, diabetes, and neurological due to numerous factors such as urbanization and adoption of a sedentary lifestyle. The growing prevalence of chronic diseases demands safe and precise healthcare medical devices. Cancer patients undergo chemotherapy that involves several strong medications. These medications must be given through intravenous injection or infusion, thus requiring needle-free IV connectors.
According to a senior analyst at Technavio for health and wellness research, “The use of needle-free IV connectors minimizes occlusions and helps reduce bloodstream infection. Furthermore, these products ensure minimal blood reflux in the distal catheter tip. Thus, with the rise in chronic diseases, the adoption of needle-free IV connectors to conduct safe administration of drugs and solutions is expected to increase during the forecast period.”
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Global needle-free IV connectors market segmentation
This market research report segments the global needle-free IV connectors market by end-users (hospitals, home healthcare, and others) and key regions (the Americas, APAC, and EMEA).
The Americas held the highest share of over 41% in the global needle-free IV connectors market in 2017. The market for needle-free IV connectors in the region is led by the US, followed by Canada and Brazil. Significant investments in healthcare research in North America and the rising prevalence of obesity and other chronic diseases that result in an increase in the number of surgeries and demand for IV therapy are few of the factors that drive the demand for needle-free IV connectors in the region. The Americas was followed by EMEA and APAC with APAC expected to exhibit the maximum growth of close to 2% over the forecast period.
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