Global Intravenous Stopcock Market, By Type (Four-way Stopcock, Three-way Stopcock), By Application (Pressure Monitoring, Infusion Therapy),By End user (Hospitals, Specialty Centers, Ambulatory Surgical Centers, and others) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 424.7 Million in 2023 and is expected to exhibit a CAGR of 8.1% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The strategies by key market players like applications is expected to drive the global intravenous stopcock market growth over the forecast period. Intravenous stopcock main tasks are: to safely stop or restore the infusion flow. Provides two additional ports to dispense any liquid. For instance, on April 26, 2021, an article published by Australian Critical Care, explained that there is no consensus as to whether a pressure bag, a manual push and pull technique, or a gravity device would be effective in adult patients. The manual push and pull technique is a rapid infusion method that uses a three-way pen. Although it has not yet been determined whether the three-way plug is the cause of catheter-related bloodstream infection, three-way plug clicks may be a point of entry for microbes into the peripheral IV catheter. In general, closed catheter access systems are associated with fewer catheter-related bloodstream infections than open systems and should be used primarily.
Global Intravenous Stopcock Market– Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.
COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others faced problems regarding transportation of drugs from one place to another.
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly, and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others faced problems regarding transportation of drugs from one place to another.
COVID-19 had positive impact on the global intravenous stopcock market due to increased patient demand. For instance, according to an article published by the National Center for Biotechnology Information, on April 26, 2022, explained in the four-chamber view, a right-to-left shunt was sought by injecting 9.5 mL of gelatin solution aerated with 0.5 mL of room air through two syringes connected to a three-way stopcock. Up to three successful contrast studies were performed per patient. The shunt was quantified according to the number of bypassed bubbles as follows: small, moderate and large.
Global Intravenous Stopcock Market: Key Developments
Increasing launch of new range of products that can improve the efficacy is expected to drive the market growth.
For instance, on June 27, 2023, Hindustan Syringes and Medical Devices (HMD), an Indian company, has introduced a new and improved three-way closure monitor, the Dispoway, which can be used to infuse more than one fluid at a time during blood and drug transfusions. Three-way stop valves are very popular in the healthcare industry because they simultaneously help in the continuous transfer of intravenous blood, drugs and blood derivatives. However, the HMD Dispoway comes with a number of changes that make it an easy-to-use, compact product and give healthcare professionals more control over fluid infusion.
Browse 30 Market Data Tables and 35 Figures spread through 190 Pages and in-depth TOC on Global Intravenous Stopcock Market, By Type (Four-way Stopcock, Three-way Stopcock), By Application (Pressure Monitoring, Infusion Therapy), By End user (Hospitals, Specialty Centers, Ambulatory Surgical Centers, and others) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key Takeaways of the Global Intravenous Stopcock Market:
- Global intravenous stopcock market is expected to exhibit a CAGR of 8.1% during the forecast period due to increasing launch of new products.
- Among type, three way stopcock segment is expected to dominate the global intravenous stopcock market over the forecast period, owing to launch of new techniques. For Instance, on July 30, 2021 Hindustan Syringes and Medical Devices (HMD) launched new and improved 3-way Stop Cock – Dispoway. The new and advanced Stop Cock is made with medical-grade polycarbonate, polypropylene and polyethylene.
- Among region, North America is expected to be the dominant region in the global intravenous stopcock market, owing to the increasing launches of newer technologies in the region.
- Major players operating in the global intravenous stopcock market include Becton, Dickinson and Company, Global Medikit Limited, SCW Medicath Ltd., Fresenius Kabi AG, Smith’s Medical, Braun Medical Inc., Terumo Medical Corporation, ARGON MEDICAL, Baxter, Bound Tree Medical, Mediprim, Neotec Medical Industries, and ICU Medical.