20 December 2019 - Global 3-Way
Stopcock Market is expected to
grow at a significant CAGR in the upcoming period as the scope and its
applications are rising enormously across the globe. The 3-way stopcock is
equipment that provides 3-way flow like side port to the outlet, from the inlet
to outlet, or inlet to side-port. It is mainly used for continuous and simultaneous
infusion of two fluids and control flow direction. It is may be used with
intravenous and intra-arterial systems.
The
factors that are playing a major role in the growth of 3-way stopcock market
are the growing demand from the medical and sanitary sector, the developing
R&D sectors, the high demand from the end-users, and the rising use of
enhanced technology. However, lack of knowledge and the rise in accidents while
using 3-way stopcock may restrain overall market growth in the years to come.
The market is segmented based on type, material type, application, end-user,
and region.
T-shaped
three-way stopcock and slant-hole three-way stopcock are the types that could
be explored in the market in the forecast period. Based on the material type,
alloy, stainless steel, and others could classify three-way stopcock market in
the forecast period. Pressure monitoring, infusion therapy, and other
applications could be explored in 3-way stopcock in the forecast period.
The
market may be categorized based on end-users like schools, chemical plants,
hospitals, pharmaceutical companies, and others that could be explored in 3-way
stopcock in the forecast period. The hospital sector may account for the
significant share of the market and is estimated to lead the overall market in
the years to come.
Globally,
North America accounted for the substantial share of 3-way stopcock industry
and is estimated to lead the overall market in the years to come. The reason
behind the overall market growth could be the presence of key manufacturers in
the region, the rising use of enhanced technology, and the presence of
developed infrastructure. The United States is a major consumer of 3-way
stopcock in this region.
Europe
and the Asia Pacific are also estimated to have a positive influence on future
growth. Europe is the second largest region with significant market share.
However, Asia Pacific is estimated to grow at the highest CAGR in the forecast
period. The developing countries like India and China are the major consumers
of 3-way stopcock in this region.
The
key players of 3-way stopcock market are Bio-Rad Laboratories, Inc., Terumo
Corporation, Disposafe, Thermo Fisher Scientific, Poly Medicure Limited, Pfizer
Inc., Denex International, Nipro Medical Corporation, Elcam Medical, and Braun
Melsungen AG. These players are concentrating on inorganic growth to sustain
themselves amidst fierce competition.
Market Segment:
Key Applications
•
Infusion Therapy
•
Pressure Monitoring
Key Regions
•
North America
•
Europe
•
Asia Pacific
•
China
Key Vendors
•
BD
•
Terumo
•
Baxter
•
Smiths Medical
•
B.Braun
•
Hospira
•
TOP
•
Nipro
•
Fresenius Kabi
•
Elcam
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