According to a new study of Future Market Insights (FMI), the small bore connectors market is estimated to roughly equate the revenues worth US$ 500 Mn in 2019, growing at ~4% over 2018. The small bore connectors industry remains influenced by a slew of factors, which range from the development of new international standards for design and performance, to the compelling requirement for higher-grade quality products that offer continued performance in high-stake situations.
Security and safety is paramount in small bore connectors, while the rapidly growing space of medical equipment necessitates the development of disposable products with high performance vis-à-vis affordability.
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Reciprocating the increasingly complex landscape of small bore connectors, manufacturers are switching to new materials that are resilient to fatigue and rough use experience. As the medical device industry continues to flourish, materials and relevant components used in manufacturing of small bore connectors also evolve, offering high performance under constant pressure.
The study finds that the medical device industry and the standards community have been taking actions for minimizing the risk of misconnections. The profound emphasis on the development of new standards has led new connector designs come to the fore that are application-specific, preventing connections with other devices. Additionally, new non-standardized products have also been introduced by key players in the small bore connectors market, to curtail risks apropos of wrong route errors during the administration of medicine via neuraxial and enteral/oral routes.
Adoption Remains High in Intravascular and Enteral Administration of Medicine
The application scope of the small bore connectors spans wide, ranging from intravascular and enteral, to limb cuff inflation and neuraxial anaesthesia. Use of small bore connectors remains largest in intravascular administration of medicine, accounting for ~25% sales. As ISO/FDIS 80369-7 is finalised, small bore connector manufacturers are now bestowed with specifications for hypodermic and intravenous applications. Enteral administration of medicine also accounts for significant share of the small bore connectors market, owing to its high demand in feeding patients that are unable to drink and eat.
As medical device industry continues on its hunt for successful formulas for selling in developing markets, small bore connector manufacturers are following the suit. Developing economies are fairly benign for the small bore connectors market, pushed by growing number of initiatives and awareness campaigns by public as well as private organisations, abreast technology penetration and new product developments. Leading stakeholders in the small bore connectors market are adopting a ‘developing market mindset,’ even as emphasising reasonable investment horizon for eliminating mid-way profitability trap.
The study offers a holistic perspective of the small bore connectors market for the period, 2019 to 2029. The small bore connectors market is forecast to record ~4% CAGR through 2029.
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Small Bore Connectors Market Structure Analysis
- The global small bore connectors market is a moderately consolidated market owing to the presence of major players
- Some of the prominent companies in the Small Bore Connectors market include Baxter International Inc., B. Braun Melsungen AG, Becton, Dickinson and Company, Smiths Medical – Smiths Group Company, ICU Medical, Inc., Merck KGaA, Merit Medical Systems, Inc., Nordson Corporation, Elcam Medical, and CardioMed Supplies Inc. (Nipro Corporation)
- Most of the key players are emphasising on developing new connectors that follows the ISO standards
- Various programs are being organised to improve patient safety by reducing the risk of medical device tubing misconnections
- ISO, AAMI, and an international joint group are making advances towards reducing the potential for tubing misconnections and increasing patient safety, which is a major focus of the small bore connector initiative