The medical connectors market is projected to reach USD 2.69 billion by 2021 from USD 1.63 billion in 2016, at a CAGR of 10.5 percent, figures MarketsandMarkets. The high incidence and prevalence of chronic disorders, rise in healthcare expenditure, and growth in the home healthcare market are the major factors fueling the growth of this market.
The patient monitoring devices segment is expected to grow at the highest CAGR over the next 5 years owing to increasing incidence of chronic diseases and increasing adoption of patient monitoring devices. The hospitals and clinics end-user segment is expected to grow at the highest CAGR during 2016–2021 due to factors such as increasing demand for electrosurgical therapy and growing incidence of chronic disorders.
North America will continue to dominate the market due to the availability of reimbursement for several surgeries and increasing prevalence of chronic disorders in the region. However, the market in Asia is expected to witness the highest CAGR, with the growth centered on China, Japan, and India.