The global advanced medical stopcock market is expected to reach US$ 1,167.6 Mn in 2027 from US$ 841.3 Mn in 2018.
According to The Insight Partners market research study titled "Advanced Medical Stopcock Market 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.
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.
Request for sample PDF Copy at: https://www.theinsightpartners.com/sample/TIPRE00002772/
Advanced Medical Stopcock Market Competitive Landscape and Key Development
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 strengthening their product offering in the market.
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.
Advanced Medical Stopcock Market: Segmental Overview
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.
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.
Buy Complete Report of Advanced Medical Stopcock Market Study at: https://www.theinsightpartners.com/buy/TIPRE00002772/
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
We are committed to provide highest quality research and consulting services to our customers. We help our clients understand the key market trends, identify opportunities, and make informed decisions with our market research offerings at an affordable cost.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
E-mail: sam@theinsightpartners.com