Market Size of Small Bore Connectors Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Small Bore Connectors Market Analysis
The global small-bore connectors market is anticipated to grow with a CAGR of nearly 4.5% during the forecast period. Cardiovascular, urology, and neurology diseases have become the most dominant cause of mortality and morbidity in the world during the last three decades. Increasing utilization of small-bore connectors in the treatment of these chronic diseases is anticipated to drive the market over the forecast period. According to 2015 statistics by the Department of Health, more than 40% of New York adults suffer from a chronic disease, and chronic diseases are responsible for 23% of all hospitalizations in New York State. Six out of every 10 deaths in New York State are caused by chronic diseases. This results in a growing need for small-bore connectors in disease treatment, thereby propelling market growth.
A rising number of surgeries coupled with rising usage of small bode connectors has also boosted its demand. Manufacturers are resorting to new materials, which ward off the instances of rough use that is regularly experienced by medical devices and equipment. Furthermore, improving medical infrastructures and favorable reimbursement policies help to expand the market. For example, International Organization for Standardization developed ISO 80369 series of standards to improve patient safety and reduce the risk of small-bore misconnections used in liquid and gas healthcare applications.
Technology advancement to mitigate wrong route errors coupled with rising usage of small bode connectors for various applications has also boosted its demand. Some other key factors such as fatigue-deprived performance under pressure, flow rates, clinical requirements, air pressures, and several other performance characteristics is expected to boost the market growth.
However, stringent regulatory standards hinder the growth of the global small bore connectors market.
