Medical Stopcock Market Forecast By End-use Industry 2018 – 2026
Global Medical Stopcock Market: Introduction
Medical stopcock is a form of valve used to control the flow of the liquid in infusion therapy. It is designed to control the flow of liquid or gas through an on/off diverter.
Medical stopcock contains a valve or turning plug that controls the flow of fluid from a container through a tube. These stopcocks are available in four types namely four-way stopcock, three-way stopcock, two-way stopcock, and one-way stopcock. Of these, three-way stopcock is made of polycarbonate and has numerous channels for multiple infusion therapy. It is primarily used in intensive therapy unit.
Global Medical Stopcock Market: Developments and Trends
The medical stopcock market is anticipated to expand during the forecast period due to the high demand for valves in the health care sector, increase in research & development activities, and large numbers of tests that take place in intensive therapy units.
Development in the pharmaceutical industry and growth of valves are expected to play pivotal role in the medical stopcock market. Increase in clinical trials and rise in demand for three-way stopcocks are anticipated to provide lucrative opportunities for pharmaceutical industries, thus fueling the medical stopcock market. However, lack of skilled professionals and occurrence of accidents while using three-way stopcocks such are hampering the market.
Global Medical Stopcock Market: Segmentation
The medical stopcock market can be segmented based on type, application, and region. Based on type, the medical stopcock market can be classified into four-way stopcock, three-way stopcock, two-way stopcock, and one-way stopcock. Three-way stopcock is the major segment of the medical stopcock market, led by the rise in demand for these stopcocks in intensive therapy and high dependency units. Based on application, the medical stopcock market can be classified into infusion devices and other devices. Infusion devices is the key segment of the medical stopcock market.
Global Medical Stopcock Market: Regional Outlook
In terms of region, the global medical stopcock market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the prominent region, accounting for significant share of the global medical stopcock market. The market in North America is expected to expand at a rapid pace during the forecast period. The large share of the region can be ascribed to factors such as presence of large number of major market players, favorable health care policies, and increase in prevalence of heart conditions, and rise in preference of patients for minimally invasive disease. The market in Asia Pacific is also anticipated to expand at a rapid pace during the forecast period due to the increase in number of health care facilities, growth in health care expenditure, and rise in medical tourism. Demand for medical stopcock is projected to rise in China, Japan, and South Korea in the near future, followed by that in India. China is expected to account for leading share of the medical stopcock market in Asia Pacific during the forecast period.
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Global Medical Stopcock Market: Key Players
Key players operating in the global medical stopcock market are B. Braun Melsungen AG, Qosina, CODAN USA, Nordson Corporation, Vitalmed, Hospira (ICU Medical), Nipro, TOP Corporation, Elcam, Borla, and Argon Medical.