Medcore: Global Needleless Connector Market Size, Share & Trends Analysis-2024-2030-Includes: Hospital NLCs and Non-Hospital NLCs

Needleless Connector Market Size, Share & Trends Analysis-Global-2024-2030-MedCore-Includes: Hospital NLCs and Non-Hospital NLCs

In 2023, the worldwide needleless connector market exhibited a total worth of $1.33 billion, reflecting a 5.8% surge compared to the previous year's $1.26 billion. Projections for the upcoming period indicate a steady growth trajectory, with a compound annual growth rate (CAGR) of 4.5%, ultimately reaching $1.80 billion. Notably, Becton Dickinson (BD) and ICU Medical are currently the dominant players in the global needleless connector market.

Our comprehensive medical market research involved an extensive analysis of more than 15 intravenous set companies spanning seven continents. Employing a rigorous methodology, we delved into market sizes, unit sales, company market shares, and generated precise forecasts. The full report suite on the global intravenous sets market encompasses both hospital NLCs and non-hospital NLCs.

DATA TYPES INCLUDED

Unit Sales, Average Selling Prices, Market Value & Growth Trends
Forecasts Until 2030, and Historical Data to 2020
Market Drivers & Limiters for Each Segment
Competitive Analysis with Market Shares for Each Segment
Recent Mergers & Acquisitions
COVID19 Impact
Disease Overviews and Demographic Information
Company Profiles, Product Portfolios and SWOT for Top Competitors

GLOBAL NEEDLELESS CONNECTOR MARKET INSIGHTS

In the upcoming forecast period, emerging markets are set to reap the benefits of a gradual shift towards mechanical valve devices. Although certain configurations of mechanical valve needleless connectors (NLCs) raise some concerns, a significant number of them have proven their capability to enhance overall patient outcomes. Even though these devices typically come with a slightly higher price tag compared to split septum products, the increasing adoption of mechanical valve NLCs is expected to yield a favorable impact on the overall market's value in the years to come.

GLOBAL NEEDLELESS CONNECTOR MARKET SHARE INSIGHTS

In 2023, Becton Dickinson (BD) solidified its position as the global leader in the Needleless Connector (NLC) market. Notably, Becton Dickinson also functions as an infusion pump manufacturer, leveraging this capability to bundle NLCs with its devices. The company maintains a commanding presence in the broader infusion therapy market, bolstering both its brand recognition and the ability to manufacture and market various disposable products in significant quantities at competitive prices.

Securing the second position in the global NLC market in 2023 was ICU Medical. In the realm of mechanical valve connectors, ICU Medical offers the Clave™ connector. The Clave™ connector's innovative design seamlessly integrates the external blunt cannula into the split septum structure, ensuring compatibility with any standard male Luer connector.

Needleless connectors, much like various other disposable healthcare products, can be produced and sold at relatively low costs. This aspect serves as an incentive for smaller companies to enter the market, aiming to provide simpler and more cost-effective products compared to their larger counterparts. Nonetheless, throughout the forecast period, the dominant players in this market are expected to be those capable of bundling NLC products with other infusion therapy devices.

MARKET SEGMENTATION SUMMARY

Needleless Connector Market – Segmented By:
Care Setting: Hospital, Non-Hospital