Advanced Medical Stopcock Market Expected To Huge Growth CAGR of US$ 1,167.6 Mn With Smiths Medical, B. Braun Melsungen, Merit Medical Systems, Nordson Corporation, Cook, And Other

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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Some Of Major Key Players In Advanced Medical Stopcock Market:
B. Braun Melsungen, Smiths Medical, Nipro, Elcam Medical, Merit Medical Systems, Codan USA, Nordson Corporation, Cook, JCM MED, Utah Medical Products,

Approvals and agreements were observed as the most adopted strategy in global Advanced medical stopcock industry. Few of the recent product launch and collaboration and others are listed below:

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.

Market Insights:-

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.

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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

By Type:
• Low-Pressure Stopcocks
• Medium-Pressure Stopcocks
• High-Pressure Stopcocks

By End User:
• Hospitals & Clinics
• Homecare
• Ambulatory Surgical Centres

By Geography:
• North America
• Europe
• Asia Pacific (APAC)
• Middle East & Africa (MEA)
• South America (SAM)

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.

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This release was published on openPR.