As per the latest industry analysis by Future Market Insights (FMI), the global luer lock connector market, which was valued at approximately USD 1,713.8 million in 2023, is set to exhibit steady growth over the next decade. With a projected Compound Annual Growth Rate (CAGR) of 3.3%, the market value is expected to increase from USD 1,769.0 million in 2024 to an impressive USD 2,361.4 million by 2034.
Luer lock connectors, essential components of medical devices, play a crucial role in minimally invasive procedures such as intravenous therapy and drug delivery systems. Their widespread compatibility and ease of use have spurred innovation and adoption in new medical devices, driving market expansion globally.
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Luer lock connectors are vital for preventing contamination and fluid leaks, enhancing patient safety, and reducing healthcare-related infections. The luer lock connector market is further growing due to rising investments in emerging regions and changes in healthcare infrastructure.
The integration of luer IV connectors into electronic medical records (EMRs), pumps, and other medical devices is made possible by advances in connection technology. These innovations are being widely embraced by healthcare professionals in both developed and developing countries, contributing to the growth of the luer lock connector market.
Key Takeaways from the Market Study:
- The global luer lock connector market is estimated to grow at a CAGR of 3.3% by 2034.
- The United States is set to rise at a CAGR of 2.1% by 2034.
- By 2034, India is projected to surge at a CAGR of 5.8%.
- Based on the configuration, the Y-channel segment is set to grow at 3.4% CAGR by 2034.
- By fluid displacement, the positive displacement segment is projected to rise at a CAGR of 3.8% by 2034.
“Smart luer lock connectors with sensors or RFID/NFC tags are gaining popularity in healthcare for remote monitoring of drug delivery, infusion rates, and patient compliance. Specialized connectors for oncology, anesthesia, and newborn care are also gaining traction due to specific clinical requirements and niche markets, offering various sizes, shapes, and material compositions.” –says a Future Market Insights (FMI) lead analyst.
Competitive Landscape:
To introduce new products, key companies in the market are placing a greater emphasis on research and development initiatives. Leading manufacturers are concentrating on executing certain strategic initiatives, such as mergers and acquisitions, business development, and new product introductions.
For instance,
- In December 2023, B. Braun Medical Inc. launched CARESITE Micro™ Luer Access Device and Extension Sets to inflate their product portfolio.
- In Sept. 2023, Progressive Medical, Inc., a prominent distributor of specialized medical products, collaborated with Asset Medical to introduce various infusion therapy products with diverse options and advanced features.
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Key Companies Profiled:
- VYGON
- ICU Medical
- BD
- Baxter
- B. Braun SE
- CODAN Companies
- NP Medical
- ASSET MEDICAL
- AdvaCare Pharma
- IndoSurgicals Private Limited.
- Lepu Medical Technology (Beijing) Co., Ltd.
- Amsino International, Inc.
- JCM MED
- LILY MEDICAL CORPORATION
- BAIHE MEDICAL EUROPE
- Nexus Medical
- Hangzhou Fushan Medical Appliances Co., LTD.
Key Market Segments:
By Configurations:
- Straight Channel
- T-Channel
- Y-Channel
- Others
By Fluid Displacement:
- Positive Displacement
- Negative Displacement
- Neutral Displacement
By Luer Connector Type:
- Male
- Female
By End-user:
- Hospitals
- Ambulatory Surgical Centers
- Clinics
- Maternity Centers
- Long Term Care Facilities
- Home Healthcare Settings
- Emergency Service Providers
- Blood Banks
- Others
By Region:
- North America
- Latin America
- East Asia
- South Asia and Pacific
- Western Europe
- Eastern Europe
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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