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.
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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 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.
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.
The report segments the global advanced medical stopcock market as follows:
Global Advanced Medical Stopcock Market – By Type
Global Advanced Medical Stopcock Market – By End User
Global Advanced Medical Stopcock Market – By Geography
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