According to a new 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.
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.
The report segments the global advanced medical stopcock market as follows:
Global Advanced Medical Stopcock Market – By Type
- Low-Pressure Stopcocks
- Medium-Pressure Stopcocks
- High-Pressure Stopcocks
Global Advanced Medical Stopcock Market – By End User
- Hospitals & Clinics
- Ambulatory Surgical Centers
Global Advanced Medical Stopcock Market – By Geography
- North America
- Asia Pacific
- South Korea
- Middle East & Africa
- Saudi Arabia
- South Africa
- South & Central America
Source: The Insight Partners
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