The medical connectors market size is projected to reach $2.8 billion by 2023, growing at a CAGR of 6.3% during 2017-2023.
The market is growing mainly due to the rising demand for miniaturized connectors, progress in the medical devices industry, increasing geriatric population and surgeries and increasing prevalence of chronic diseases.
The European market for medical connectors is expected to cross $700.0 million by 2023, growing at a CAGR of 5.2% during 2017-2023. The growth in the European market for medical connectors is mainly attributable to the growing aging population, increasing prevalence of infections cardiovascular diseases, chronic pain, and neurological disorders and R&D infrastructure. Germany held the largest share in the European medical connectors market, with 28.2% contribution in 2016. France and U.K. lead the regional market, followed by Germany, with France expected to grow at CAGR of 6.1% during the forecast period and is predicted to generate revenue of more than $100.0 million by 2023.
Some of the other key players operating in the medical connectors market include Amphenol Corporation, Delphi Automotive PLC, Smiths Group plc, ITT Interconnect Solutions (ITT Corporation), Fischer Connectors SA, LEMO SA, Samtec, Inc., and Esterline Technologies Corporation.