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Connectors in the Medical Electronics market
The world market for connectors in the Medical Electronics market in 2009, reached USD 1.16 billion. Many of the medical market segments were impacted by the recessionary economic environment in 2009.
Severe cost restraints on global health care systems caused delayed purchases of equipment. This is reflected in the -6.0% decrease of sales from 2008 to 2009, states market researcher Bishop & Associates in a new study Medical Electronics Market for Connectors 2009 - 2014.
While the market is slowly rebounding in 2010, the long-term outlook for medical electronics remains good and highly encouraging for connector manufacturers. Although the development of new technologies is always an issue to take into account when investing in specific markets, it looks like a safe bet that most market segments within medical electronics will flourish, the report continues.
Taking existing market trends and the current outlook for Medical Electronics into consideration, the worldwide connector market is forecast to grow to USD 1.74 billion in 2014, representing a five-year annual growth rate of 8.5%. China is, by far, the fastest growing region at 21.8%. This is due to the move of product manufacturing to China, in addition to their growing domestic market. North America is the slowest growing region at 6.0%.
Taking existing market trends and the current outlook for Medical Electronics into consideration, the worldwide connector market is forecast to grow to USD 1.74 billion in 2014, representing a five-year annual growth rate of 8.5%. China is, by far, the fastest growing region at 21.8%. This is due to the move of product manufacturing to China, in addition to their growing domestic market. North America is the slowest growing region at 6.0%.
