21 May 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.
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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.
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