Advanced Medical Stopcock Market 2019 Report Industry Outlook Latest Development & Trends 2025
The global advanced medical stopcock market accounted to US$ 841.3 Mn in 2018 and is expected to grow at a CAGR of 4.1% during the forecast period 2019 – 2027, to account to US$ 1,167.6 Mn by 2027.
Asia Pacific is the fastest growing geographic market and it is expected to be the fastest revenue contributor throughout the forecast period. Asia Pacific is recognized as a developing market for the medical devices. The growth is driven by the factors such as rising prevalence of the infectious disease across the region. Also the rising initiatives by the government of India and Australia are likely to foster the growth of the market during forecast period.
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Organic and inorganic growth strategies were observed among which organic strategy was the most adopted strategy in global advanced medical stopcock industry. For instance, in December, 2018, Merit Medical Systems, Inc. announced acquisition of Vascular Insights, LLC, Merit acquired assets such as ClariVeinIC and ClariVeinOC specialty infusion and occlusion catheter systems. Thus, the acquisitions of the smaller companies are assisting in strengthening their portfolio and business.
- B. Braun Melsungen,
- Smiths Medical,
- Elcam Medical,
- Merit Medical Systems,
- Nordson Corporation,
- JCM MED,
- Utah Medical Products Inc.
Growing Incidence of Chronic Diseases
The chronic diseases such as heart diseases, cancer, chronic lung diseases, stroke, Alzheimer’s disease, diabetes and chronic kidney disease among the others are the leading cause of deaths. The habits such as tobacco use, alcohol consumption, poor nutrition and lack of physical activity among others are the leading factors for the chronic diseases. According to the recent statistics of World Health Organization for the year 2019, chronic diseases contribute approximately 60% of all deaths and 43% of the global burden of disease. It is also expected that by 2020 the incidences of deaths will rise approximately to 73% and the global burden of disease is expected to grow by 60%. Therefore, the significant rise in the incidences of the chronic diseases are likely to increase the demand for the advanced medical stopcock as this is required to treat various conditions.
Rapidly Growing Number of Surgical Procedures
Advanced medical stopcocks are used during surgeries or after the surgical procedures. These are used with infusion pumps to send pain medicine through catheter to a specific part of patient’s body. The Infusion pumps provide targeted and consistent medicine to decrease the pain. They are used when other methods are less effective or when the patient needs long-term medicines or fluids. The stopcocks are used after surgeries to provide medicines in the fluid forms when the patient is under observation. For instance, the surgical procedures such as caesarean sections are growing across the world. According to the statistics revealed by the European Union states that in 2016, approximately 1.32 million caesarean sections were performed. The number of the surgeries are rising across the world which is likely to propel the growth of the market during the forecast period.
End User Insights
The global advanced medical stopcock market by end user segments was led by hospitals & clinics segment. In 2018, the hospitals & clinics held a largest market share of 42.0% of the advanced medical stopcock market, by end user. This segment is also expected to be the fastest growing segments of the market in 2027 owing to increasing number of admission in hospitals due to several health conditions which is becoming the major factor for the growth of the advanced medical stopcock market.
Advance Medical Stopcock – MARKET SEGMENTATION:
- Low-Pressure Stopcocks
- Medium-Pressure Stopcocks
- High-Pressure Stopcocks
By End User
- Hospitals & Clinics
- Ambulatory Surgical Centres
- North America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- South America (SAM)
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