North America Advanced Medical Stopcock Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Type (Low-Pressure Stopcock, Medium Pressure Stopcock, and High-Pressure Stopcock) and End User (Hospitals & Clinics, Ambulatory Surgical Centers, a

Growing Medical Device Industry to Provide Opportunities for North America Advanced Medical Stopcock Market

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According to our new market research study, titled ""North America Advanced Medical Stopcock Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Type and End User,"" the market is expected to grow from US$ 335.94 million in 2021 to US$ 430.56 million by 2028; it is expected to grow at a CAGR of 3.7% from 2022 to 2028. The report highlights drivers, restraints, opportunities, and trends in the North America advanced medical stopcock market.

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The increasing adoption of advanced medical devices, technological advancements, and the presence of major medical device manufacturers are projected to accelerate the growth of the medical device industry. The US medical devices industry is growing due to a surge in the adoption of advanced medical device technologies, growing digitalization of medical devices, increasing emphasis on improving treatment outcomes, and rising prevalence of chronic diseases. As per AdvaMed, the US is the largest medical device industry across the globe; it accounts for more than 40% of the global MedTech industry. Over 6,500 small- and medium-sized enterprises (SMEs) in the US are creating innovative medical products and devices every day. The US medical device industry offers highly efficient medical systems that help in early disease diagnosis and effective therapies. The industry drives the economic growth of the country by creating high-paying manufacturing jobs and exporting medical devices to other countries across the globe. The Mexican medical device industry is one of the important markets for US exporters. Further, the Canadian medical device industry is highly diversified, and most medical device enterprises are SMEs. As per the International Trade Administration, in August 2022, the medical device market was valued at ~US$ 6.5 billion and is expected to grow by 2.1% per year until 2026. The key products manufactured by the Canadian medical device industry are cardiovascular and respiratory devices, which account for 22.3% of the total medical device market, followed by surgical devices (19.4%), medical and industrial diagnostic devices (18.1%), spinal devices (11.7%), and diabetes monitoring devices (6.3%).

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The US holds the largest share of the advanced medical stopcock market; however, Canada is expected to register the highest CAGR during the forecast period. The advanced medical stopcock market in the US is expected to grow from US$ 267.23 million in 2021 to US$ 343.77 million by 2028, at a CAGR of 3.7% from 2022 to 2028. The US government is also taking various measures to control the rising prevalence and incidences of chronic disorders of chronic conditions such as cancer and infectious diseases across the country. The country also spends more on healthcare expenditure, which enables the introduction of various innovative procedures for the treatment of several chronic conditions.

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In 2021, the US FDA authorized an emergency use authorization (EUA) monoclonal antibody Intravenous (IV) therapy for COVID-19 patients suffering from mild to moderate symptoms. IV therapy administers medicines directly into the patient's bloodstream with the help of stopcock. Monoclonal antibodies block viral attachment and entry into human cells to neutralize SARS-CoV-2. Also, in November 2020, the FDA approved a EUA for casirivimab and imdevimab to be administered together for the treatment of mild to moderate COVID-19. Also, IV vitamin drips were administered to COVID-19 patients for faster recovery. Thus, the growing number of FDA-approved infusion therapy and IV drips for the treatment of COVID-19 is supporting the North America advanced medical stopcock market.

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B. Braun Melsungen AG, Smiths Medical Inc, Nipro Corp, Elcam Medical Group Co, Merit Medical Systems Inc, CODAN US Corp, Nordson Corp, Cook Medical LLC, JCM MED SaRL, and Utah Medical Products Inc are the leading companies operating in the North America advanced medical stopcock market.

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