Report : Asia Pacific 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, and Homecare)
At 5.1% CAGR, the Asia Pacific Advanced Medical Stopcock Market is speculated to be worth US$ 225.94 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific advanced medical stopcock market was valued at US$ 167.48 million in 2022 and is expected to reach US$ 225.94 million by 2028, registering a CAGR of 5.1% from 2022 to 2028. Developing incidence of chronic diseases and increasing geriatric population and flow in number of surgical procedures are the critical factors attributed to the Asia Pacific advanced medical stopcock market expansion.
Intravenous (IV) therapy is commonly administered to receive medications or fluids. One major benefit of IV infusion therapy is the fast delivery of medication/nutrients into the patient’s body. Most IV infusion therapy can be completed within an hour, allowing the nutrients/medications to be transferred directly into the patient’s blood. Several medical conditions do not allow sufficient absorption of nutrition, vitamins, and minerals. IV infusion therapy also provides instant rehydration. IV fluids are highly recommended for patients suffering from a fluid volume deficit.
Moreover, drug treatments or physical therapy usually cannot be modified as they are specifically designed to treat certain conditions. However, healthcare professionals can modify the treatment with IV infusions depending on the patient’s medical needs. Furthermore, if the patient suffers from fatigue, allergies, or other medical impairment, the customizable nature of IV therapy can help improve issues experienced by the human body.
Further, hundreds of IV drip spas are opening across the Asia Pacific that offers IV therapies that boost immunity, ease allergies, cure jet lag, restore youth and energy, and enhance athletic performance. Also, many celebrities endorse receiving boosts of hydration and nutrients directly into the bloodstream. Additionally, beauty salons and gyms are following the trend by adding IV infusions to their services. Moreover, mobile IV services are also being offered, where the company provides in-home IV infusions administered by certified nurses.
Thus, owing to the advantages offered by IV therapy and the growing popularity of IV therapy, the Asia Pacific advanced medical stopcock market is expected to grow over the forecast period.
On the contrary, safety concerns about stopcocks hurdles the growth of Asia Pacific advanced medical stopcock market.
Based on type, the Asia Pacific advanced medical stopcock market is categorized into low-pressure stopcock, medium-pressure stopcock, and high-pressure stopcock. The low-pressure stopcock segment held 55.4% market share in 2022, amassing US$ 92.85 million. It is projected to garner US$ 128.44 million by 2028 to expand at 5.6% CAGR during 2022–2028.
Based on end user, the Asia Pacific advanced medical stopcock market is categorized into hospitals & clinics, ambulatory surgical centers, and homecare. The hospitals & clinics segment held 44.7% market share in 2022, amassing US$ 74.94 million. It is projected to garner US$ 104.29 million by 2028 to expand at 5.7% CAGR during 2022–2028.
Based on country, the Asia Pacific advanced medical stopcock market has been categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 29.0% market share in 2022. It was assessed at US$ 48.58 million in 2022 and is likely to hit US$ 69.01 million by 2028, exhibiting a CAGR of 6.0% during the forecast period.
Key players dominating the Asia Pacific advanced medical stopcock market are B. Braun SE; Smiths Medical Inc; Nipro Corp; Elcam Medical Group Co.; Merit Medical Systems Inc.; Nordson Corp; Cook Medical LLC; and Utah Medical Products Inc among others.
- In Sep 2022, Notice of Establishment of Sales Offices in Vietnam.
- In June 2020, Nordson acquired plastic extrusion manufacturer.
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