As per the analysts at Zion Market Research, the global hemostasis valve market was capitalized at about US$ 129.5 million in 2018 and is projected to attain around US$ 222.48 million by 2026, at approx 5.98% CAGR during a forecast period. The prominent player actively participating in the global hemostasis valve market include Merit Medical, St. Jude Medical, B. Braun, Qosina, Excel Medical Products, Minivalve, Abbott, GaltNeedleTech, Armstrong Medical, Ambu, Teleflex, and Ceodeux Meditec. Strategic acquirements by service providers have allowed the market players to strengthen their status in the hemostasis valves market, build up their customer base, and augment service offerings. To cite, Argon Medical had procured Mana-Tech, Ltd., its elite distributor for Ireland and the U.K in May 2019. This acquirement of Mana-Tech, Ltd. is anticipated to provide the momentous prospect to the firm to increase its existence in Ireland, the UK, and across Europe.
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Increasing Need For Advanced Hemostasis Devices To Spur The Growth Of The Market
The rising pool of patients suffering from several conditions along with the increasing need for advanced hemostasis devices by clinicians and hospitals that assist in better treatment and fulfill procedural requirements are the key factor projected to fuel the growth of the global hemostasis valve market during the forecast period. Further, technological advancements in hemostasis valves by makers that fulfill professional needs is one more factor projected to drive market growth. In addition, the increasing number of accident cases globally is leading to a rise in need for hemostasis valves that maximizes performance, has simple functionality, and reduces leakage is also anticipated to fuel market growth. Furthermore, the increasing health worries among people and the rising need for hemostasis valves for a range of therapeutic and diagnostic producers is projected to drive the growth of the global market in the coming period.
Double Y-Connector Hemostasis Valves Segment, Based On Type, Projected To Witness Substantial Growth
The global hemostasis valves market is categorized based on type, application, end-user, and region. On the basis of type, the global hemostasis valves market is bifurcated into one-handed hemostasis valves, double Y-connector hemostasis valves, hemostasis valve Y-connectors, and other hemostasis valves. Among these, the double Y-connector hemostasis valves segment is projected to witness the maximum rate of growth during the forecast period.
North America Expected To Capture The Biggest Market Share During The Forecast Period
North America is anticipated to capture the biggest market share followed by Asia Pacific and Europe during the forecast period. This expansion can be attributed to the rising count of interventional surgeries along with the rising elderly population and growing alertness about wellbeing. Further, Asia Pacific is expected to be the rapidly developing region within the market as a result of the rising population and the advancements in the healthcare infrastructure within this region.
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The global hemostasis valve market is segmented as follows:
- Hemostasis Valve Y-connectors
- Double Y-connector Hemostasis Valves
- One-handed Hemostasis Valves
- Other Hemostasis Valves
- Other End Users
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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