North America Advanced Medical Stopcock Market to Grow at a CAGR of 3.7% to reach US$ 430.56 million by from 2022 to 2028

The North America advanced medical stopcock market is expected to grow from US$ 335.94 million in 2021 to US$ 430.56 million in 2028; it is estimated to grow at a CAGR of 3.7%  from 2022 to 2028.

A stopcock is a ball valve that is used to control the flow of a liquid or gas in laboratories. These are available in different types, among which a three-way stopcock is made of polycarbonate and has numerous channels for multiple infusion therapy. It is mainly used in intensive therapy units (ITU) and all ward regions where intra-arterial and intra-venous systems are used during different procedures. The growth of the North America advanced medical stopcock market is attributed to the factors such as the growing incidence of chronic diseases and a surge in the number of surgical procedures. However, safety concerns regarding stopcocks are hindering the market growth.

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North America Advanced Medical Stopcock Market: Strategic Insights

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Mexico Advanced Medical Stopcock Market Revenue and Forecast to 2028 (US$ Million)

Market Insights

Growing Incidence of Chronic Diseases

According to the 2022 statistics of the National Center for Chronic Disease Prevention and Health Promotion (NCCDPHP), six in ten Americans suffer from at least one chronic disease, such as heart disease, stroke, cancer, or diabetes. Additionally, as per the Canadian Chronic Disease Surveillance System, in 2018, 73% of individuals aged 65 or more suffered from at least one chronic disease. In addition, the severity of chronic diseases can be avoided by taking some measures at the initial stage of the diagnosis. The treatment for chronic diseases includes medication, intravenous therapies, or surgical procedures. Infusion therapy is often used in the treatment of many chronic diseases, such as heart failure, cancer, chronic lung diseases, stroke, diabetes, and chronic kidney disease. These treatments require infusion pumps, which is a medical device that consists of a stopcock. It is used to deliver fluids, such as nutrients and medications, including antibiotics, insulin or other hormones, chemotherapy drugs, and pain relievers, into a patient's body in precise amounts. Medical stopcocks are widely used in healthcare settings to deliver infusion therapy to patients of all ages. Moreover, according to the Centers for Disease Control and Prevention (CDC), in the US, in 2019, ~1,752,735 new cases of cancer were reported, and ~599,589 patients died of cancer. Additionally, as per the Globocan 2020, in 2020, there were ~195,499 new cases of cancer in Mexico, and ~90,222 people died due to cancer. Hence, advanced medical stopcocks are widely used during the procedure of chemotherapy to control the dosage of intravenous medicines. Thus, the increasing incidences of chronic diseases are driving the North America advanced medical stopcock market.

The rising number of COVID-19 patients led to a positive impact on the market. 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 stopcocks. 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.

Type-Based Insights

Based on type, the North America advanced medical stopcock market is segmented into low-pressure stopcocks, medium-pressure stopcocks, and high-pressure stopcocks. The low-pressure stopcocks segment held the largest share of the market in 2021, and it is expected to grow at a rapid rate during the forecast period.

North America Advanced Medical Stopcock Market, by Product – 2021 and 2028

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End User-Based Insights

Based on end user, the North America advanced medical stopcock market is segmented into hospitals & clinics, homecare, and ambulatory surgery centers. The hospitals & clinics segment held the largest share of the market in 2021, and it is expected to register the highest CAGR during the forecast period.

Product launches and approvals are the commonly adopted strategies by companies to expand their global footprints and product portfolios. Various companies in the North America advanced medical stopcock market focus on the collaboration strategy to enlarge their clientele, which, in turn, helps them maintain their brand name across the world.

North America Advanced Medical Stopcock Market – by Type

• Low-Pressure Stopcocks
• Medium-Pressure Stopcocks
• High-Pressure Stopcocks

North America Advanced Medical Stopcock Market – by End User

• Hospitals & Clinics
• Ambulatory Surgical Centres
• Homecare

North America Advanced Medical Stopcock Market – by Country

• US
• Canada
• Mexico

Company Profiles

• 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
• Utah Medical Products Inc

North America Advanced Medical Stopcock Report Scope