Global Hemostasis Valve Market is expected to grow at a CAGR of 6.30% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Global Hemostasis Valve Market by Type (Hemostasis Valve Y Connector, Double Y Connector Hemostasis Valve, One Handed), Application, End User, and Region and Global Forecast 2018-2025.
As per the report, the global hemostasis valve market is expected to grow from USD 134.17 Million in 2017 to USD 215.41 Million by 2025 at a CAGR of 6.30% during the forecast period from 2018-2025. North America is expected to dominate the market during the forecast period. Rising geriatric population, unhealthy life style in the region and increasing number of angiographic procedures are contributing to the growth of the segment.
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Key players operating in the market are Abbott, Boston Scientific, Teleflex Incorporated, Merit Medical Systems, B. Braun Melsungen AG, Deroyal Industries, Inc., Terumo, Freudenberg Medical, Argon Medical, Scitech, St. Jude Medical, Armstrong Medical, Ceodeux Meditec, Qosina, Minivalve, Excel Medical Products, Ambu and others. Key players active in the market are involved in collaborative agreements and expansion to bolster the growth of the market. For instance, in 2017, Abbott acquired St. Jude Medical. The integration of St. Jude Medical strengthened Abbott’s medical device leadership worldwide. In aril 2018, B. Braun Medical Industries opened five new enhanced production plants in Penang. These facilities have latest production technologies to manufacture medical devices for infusion therapy and surgical instruments for the treatment of patients in Malaysia and worldwide. In addition, in December 2018, Freudenberg Medical has expended its medical manufacturing facility in Beverly.
Type segment includes hemostasis valve Y-connectors, double Y-connector hemostasis valves, one-handed hemostasis valves, and other hemostasis valves. The double Y-connector hemostasis valves segment is dominating the market and was valued around USD 69.68 million in 2017. High degree of precision and reduced side-effects of treatment are driving the growth of the segment. Application segment is divided into angiography and angioplasty. Angiography segment is dominating and held the largest market share in 2017. Increasing number of coronary angiography procedures are driving the demand of hemostatis valves. End user segment is classified into hospitals and ambulatory centers. The hospitals segment is dominating and is expected to grow with the highest CAGR in the forecast period. Rising healthcare infrastructure in emerging economies and increasing number of hospitals to cater to the demand of growing surgeries are positively impacting the growth of the segment.
Increasing demand for minimally invasive therapies for angiographic procedures and improved healthcare infrastructure in developing countries are positively impacting the market. In addition, increasing investments by major players strengthening the market. High cost of the treatment and lack of skilled professionals may restrict the growth of the market. However, rising elderly population and increasing prevalence of cardiovascular diseases are further driving the market.
About the report:
The global market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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