New York City, 20 Jul 2020: The global needle-free IV connectors market size is expected to reach USD 1,647.7 million by 2027 according to a new study by Polaris Market Research. Needle free IV connectors (NFC) are small needleless devices used within intra-venous (IV) catheters, administration sets, and syringes. NFC is the basic medical supply present in any healthcare facility to administer fluid, drug or medication in different vascular access systems. These needle-free systems are designed with the purpose to reduce needle stick injuries, bacterial contamination in the blood to improve patient outcome.
The complications associated with the needle based connectors such as catheter based blood stream infections and the catheter lumen occlusion are acting as the drivers for the NFC market. The set of NFCs are coming up with superior designs and features to reduce the length of hospital stays and economic burden.
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The prominent factors responsible for the growth of NFCs market the rising hospital admission rate, particularly among geriatrics, needle stick injuries among healthcare workers, and superior quality as compared to conventional systems. In 2016, the Center of Disease Control and Prevention (CDC) estimated more than 8.5 million people in the U.S have peripheral artery disease (PAD), out of which approximately 20% of the individuals were above age 60 years. The prevalence of the PAD is estimated equal among the men and women population. The primary reason behind the widespread of these diseases is less awareness among the population, especially in growing economies of the APAC region.
Market participants such as RyMed Technologies, LLC, Baxter International Inc., CareFusion Corporation, B. Braun Melsungen AG, Nexus Medical LLC, Becton, Dickinson and Company, ICU Medical, Inc., and Vygon S.A. are some of the key players operating in the concerned market. The factors such as superior designs, unique features, user friendliness with the healthcare workers, price, technology, and strong distribution in the geographical area are the competitive forces impacting the player presence in the area. The bigger companies are focusing on signing long term exclusive distribution agreement to remain dominant force in the market. In May 2019, B. Braun and Nexus Medical signed an agreement to distribute TKO-6P luer activated anti-reflux device. This will increase customer coverage with enhanced patient care for both the parties.
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