Advanced Medical Stopcock Market Surpass US$ 1,167.6 million in 2027 Says, The Insight Partners
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Low-pressure stopcock segment is expected to grow the market for advanced medical stopcock over the forecast period by type segment.
NEW YORK, UNITED STATES, February 8, 2022 /EINPresswire.com/ -- According to The Insight Partners market research study titled "Advanced Medical Stopcock Market1 to 2027 - Global Analysis and Forecasts by Type, End User and Geography". The global advanced medical stopcock market is expected to reach US$ 1,167.6 Mn in 2027 from US$ 841.3 Mn in 2018. The market is estimated to grow with a CAGR of 4.1% from 2019-2027. The report highlights the trends prevalent in the global advanced medical stopcock market and the factors driving the market along with those that act as challenges to its growth.
Stopcock is a ball valve that is used to control the flow of a liquid or gas in laboratories. These are available in different types, among which three-way stopcock is made of polycarbonate and has numerous channels for multiple infusion therapy. It is mainly used in intensive therapy unit (ITU) and all ward regions with intra-arterial and intra-venous systems. The growth of the global advanced medical stopcock market is attributed to the growing incidence of chronic diseases, rapidly growing number of surgical procedures and growing geriatric population. However, safety concern while using stopcocks is the major factor hindering the market growth.
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Global advanced medical stopcock market was segmented by type and end user. The type segment was classified as low-pressure stopcocks, medium-pressure stopcocks and high-pressure stopcocks. Based on end user the market is classified as hospitals & clinics, ambulatory surgery centers, and homecare.
The market for advanced medical stopcock is expected to grow significantly due to factors such as growing incidence of chronic diseases, rapidly growing number of surgical procedures and growing geriatric population. However, the market is likely to face challenge such as safety concern while using the stopcock, this factor is likely to lower down the use of stopcock in future.. In addition it is likely to experience growth opportunities due to growing numbers of hospitals across the world.
The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement.
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Rapidly Growing Number of Surgical Procedures to Drive Global Advanced Medical Stopcock Market Growth
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 your body. The Infusion pumps provides targeted and consistent medicine to decrease the pain. They are used when other methods are less effective or when the patient need long-term medicines or fluids. The stopcocks are used after surgeries to provide medicines in the fluid forms when the patient is in under observation.
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 procedures represents the usage of the stopcock to provide fluid to a mother after the surgical procedure. Also, according to the Centers for Disease Control and Prevention (CDC) every year about 735,000 people in suffer from a heart attack. Furthermore, the Johns Hopkins University has estimated that approximately 84 million people in the US suffer from some form of the cardiovascular disease. This has led to increase in cardiovascular surgeries. Thus, it is estimated that among this population some patients must have undergone angiography or angioplasty procedures. These procedures requires high pressure stopcocks. Therefore, the demand is likely to increase for the stopcocks during the forecast period.
Surgical procedure involves various medical intervention such as incision with instruments mostly performed in an operating theatre which normally involves an aesthesia and/or respiratory assistance. The patient who has undergone a surgical treatment is admitted in hospital for more than 24 hours so as to get in-patient care. During this time the medications are provided intravenously, thus the growing number of surgical procedures are likely to increase the market in the coming future.
Advanced Medical Stopcock Market: Competitive Landscape and Key Developments
The major players operating in the advanced medical stopcock market include, B. Braun Melsungen AG, Smiths Medical, Nipro, Elcam Medical, Merit Medical Systems, Codan USA, Nordson Corporation, Cook, JCM MED, and Utah Medical Products Inc. among the others. The market has carried out various organic and inorganic growth strategies in the market which has assisted in strengtheningtheir product offering in the market.
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Sameer Joshi
The Insight Partners
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