Europe Needle-free IV Connectors Market, by Design Type (Straight Channel, T-channel, Y-channel, and Multi-channel), by Mechanism (Positive Fluid Displacement, Negative Fluid Displacement, and Neutral Fluid Displacement), by Dwell Time (Seven Day and Other than Seven Day), and by Country (Germany, U.K., France, Italy, Spain, Russia, Denmark, Sweden, Poland, and Rest of Europe), is estimated to be valued at US$ 246.2 million in 2020 and is expected to exhibit a CAGR of 8.7% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Key companies are focusing on inorganic strategies such as mergers and acquisitions to strengthen their position in the Europe needle-free IV connectors market. For instance, in 2017 ICU Medical Inc. acquired Hospira Infusion Systems business from Pfizer Inc. Hospira Infusion Systems business include IV pumps, solutions, and devices. The acquisition aided ICU Medical to strengthen its position in the needle-free IV connectors market in Europe.
Moreover, key companies are focusing on strategies such as collaborations and acquisitions, in the Europe needle-free IV connectors market. For instance, in 2017, Cardinal Health, Inc. acquired patient recovery business from Medtronic for US$ 6.1 billion in cash. Under this acquisition, the company expanded its portfolio with Kendall needle-free connector in Europe.
Europe Needle-free IV Connectors Market – Impact of Coronavirus (COVID-19)
- The COVID-19 pandemic has affected several markets across the globe and is also expected to hamper demand and supply of needle-free IV connectors in Europe. The COVID-19 pandemic has affected Europe needle-free IV connectors market in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and by its financial impact on firms and financial markets.
- Moreover, European government are taking initiatives to combat COVID-19 crisis are expected to drive the market growth during the forecast period. For instance, according to European Association of Guarantee Institutions report published in May 2020, German government announced the possibility to ask for a loan backed by the German government (80/90%) of up to US$ 1.17 Billion capped at 25% of the annual turnover to cover liquidity needs for the next 18 months for small companies or 12 months for large companies or is companies have 50% of the overall debt such as loan is more than of EUR 25 million. Thus due to this government initiatives, European small and large medical device companies can comfortably combat the debt issues faced by companies in COVID-19 pandemic.
Browse 40 Market Data Tables and 29 Figures spread through 193 Pages and in-depth TOC on “Europe Needle-free IV Connectors Market, by Design Type (Straight Channel, T-channel, Y-channel, and Multi-channel), by Mechanism (Positive Fluid Displacement, Negative Fluid Displacement, and Neutral Fluid Displacement), by Dwell Time (Seven Day and Other than Seven Day ), and by Country (Germany, U.K., France, Italy, Spain, Russia, Denmark, Sweden, Poland, and Rest of Europe).”
To know the latest trends and insights prevalent in the Europe needle-free IV connectors market, click the link below:
https://www.coherentmarketinsights.com/market-insight/europe-needle-free-iv-connectors-market-4261
The market is expected to witness significant growth during the forecast period as key companies are focusing on strategies such as collaborations and agreements to strengthen their position in the Europe needle-free IV connectors market. For instance, in 2016, ICU Medical Inc. entered into a long term distribution agreement with B. Braun Melsungen AG. Under this agreement, ICU Medical Inc distributed rights to B. Braun to promote SwabCap disinfecting cap for needle-free connector in over 30 countries.
Key Takeaways of the Europe Needle-free IV Connectors Market:
- The Europe needle-free IV connectors market is expected to exhibit a CAGR of 8.7% during the forecast period, as key companies are focusing on inorganic strategies such as mergers and acquisitions
- Among design type, multi-channel segment is estimated to hold major market share in 2020, owing to ability of multi-channel needle-free IV connectors to minimize catheter hub contamination and air entry into the intravenous system
- Among mechanism, neutral fluid displacement segment is estimated to hold major market share in 2020 due to factors such as neutral fluid displacement can be used along with power injectors such as CT-scan, and it reduces central line occlusions by 85%
- Among dwell time, seven-day segment is estimated to hold major market share in 2020, as key players across the region are focusing on approval of novel needle free IV connectors
- Key players operating in the Europe needle-free IV connectors market include Cardinal Health, Inc, Amsino International, Inc, ICU Medical, Inc, Vygon S.A, Baxter International Inc, Becton, Dickinson and Company, B. Braun Melsungen AG, NP Medical Inc, Poly Medicure Limited, CODAN Medizinische Geräte GmbH & Co KG, and Integrity Devices Ltd.
