Global Small Bore Connectors Market: Overview
The dynamic of the global small bore connectors market is influenced by a large number of factors. Emergence of new international standards for product performance and design together with the need for high performing top-notch products are expected to impact the global small bore connectors market.
Both safety and security are ofprime importance in the small bore connectors industry. Simultaneously, the growing need for high performance and disposable medical devices is likely to necessitate escalation in research and development activities related to small bore connectors.
The global small bore connectors market is likely to exhibit considerable growth clocking sound rate of growth during the assessment period. The global small bore connectorsmarket is segmented on the basis of application, product, enduser, and region.
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Global Small Bore Connectors Market: Notable Developments
There have been some developments in the globalsmall bore connectorsmarket, one of which is listed below:
- In 2019, The Global Enteral Device Supplier Association (GEDSA) has phased out the making of legacyfeeding devices and transition adaptors. This is to adhere to the guidance from Centers for Medicare and Medicaid Services and the Food and Drug Administration in the U.S. to lessen rising misconnections related to medical tubing. The member companies of GEDSA will adjust to the availability of the products to improve patient safety, thereby leaving an impact on the global small bore connectors market.
Some of therenowned companies operating in the global small bore connectorsmarket are as follows
- Hopf A. Kunststoff-verarbeitung GmbH
- Baxter International Inc.
- Becton Dickinson and Company
- B. Braun Melsungen AG
- Smiths Medical - Smiths Group Company
- Merit Medical Systems, Inc.
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Global Small Bore Connectors Market: Key Trends
The global small bore connectors market is likely to be impacted by a large number of factors, over the period of assessment.
Efforts to Minimize Injuries and Fatalities Have Escalated Need for Standardized Devices
The global small bore connectors market is estimated to gather momentum from the wide scope of applicationof small bore connectors. Application ranges from enteral and intravascular to neuraxial anaesthesia and limb cuff inflation. However, most of the scope of use of small bore connectors is offered through intravascular administration of medicine.
Following the finalization of ISO/FDIS 80369-7, manufacturers of small bore connectors are now given the specifications pertaining to intravenous and hypodermic procedures. In addition to that, administration of medicines through the procedure of enteral feeding for patients has risen. This accounts for a large chunk of revenues in the global small bore connectors market.
Manufacturers of small bore connector manufacturers are now adopting new standards to minimize errors in connecting enteral and non-enteral gadgets. Key market players are running trials to test their products tooffer an enhanced sense of safety to the patients.
On the other hand, many cases of patient fatalities and injuries everyyear have been reported across the globe. Much of these have been attributed to the medical negligence of healthcare professionals. Such incidents are likely to impede the growth of the global small bore connectors market during the assessment period.
Global Small bore connectors Market: Geographical Analysis
The global small bore connectors market could be split into the major regions of Middle East and Africa, Latin America,North America, Europe, and Asia Pacific.
North America and Europe collectively account for the lion’s share of the global small bore connectors market. Both the regions are likely to remain a lucrative choice for the manufacturers of small bore connectors in years tocome. Government regulations to standardize small bore connectors and competitive pricing offer copious growth opportunities for companies in the global small bore connectors market.
The Asia Pacific small bore connectors market is still in a very nascent stage; however the scope of growth remains. Numerous awareness campaigns pertaining to correct and safe use of small bore connectors initiated by private and public organizations will fuel the market. Additionally, increasing technological progress in the medical industry is likely to propel the growth of the Asia Pacific market during forecast period.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.