Transparency Market Research (TMR) has published a new report on the global hemostasis valves market for the forecast period of 2019–2027. According to the report, the global hemostasis valves market was valued at ~US$ 135 Mn in 2018, and is projected to expand at a CAGR of 4.5% from 2019 to 2027. Increase in awareness about the early diagnosis of chronic diseases and rise in the number of angiography procedures are boosting the global hemostasis valves market.
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Increase in Number of Neuroendovascular Procedures to Propel Market
• The prevalence of coronary diseases and other cardiovascular diseases has been rising significantly, owing to various factors such as increasing obesity and sedentary lifestyles. This has led to an increase in the prevalence of heart diseases, which is likely to lead to an increase in endovascular procedures. In turn, this is expected to boost the hemostasis valves market.
• According to the 2016 Heart Disease and Stroke Statistics update of the American Heart Association (AHA), more than 15 million people over 20 years of age in the U.S. suffer from coronary heart disease (CHD).
• The incidence of coronary artery disease (CAD) has increased significantly in low-income and middle-income countries such as India. CAD accounts for 20% of the deaths in India.
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Market in Asia Pacific to Expand at Rapid Pace
• North America held a major share of the global hemostasis valves market in terms of revenue in 2018. The region is anticipated to maintain its share during the forecast period. Advanced surgical techniques and the presence of leading players are estimated to boost the market in the near future. High disposable income and well-developed healthcare infrastructure are also augmenting the market in North America.
• Europe is anticipated to be the second-largest market in terms of share and revenue during the forecast period. Increase in the number of intervention procedures and rise in the geriatric population are expected to boost the hemostasis valves market in the region.
• The hemostasis valves market in Asia Pacific is estimated to expand at a CAGR of ~5% during the forecast period. Strong growth of the hemostasis valves market in the region can be ascribed to the presence of a significant patient pool and rapid adoption of technological advancements in Japan and China.
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Boston Scientific Corporation, B. Braun Melsungen AG, and Teleflex Incorporated - Leading Manufacturers of Hemostasis Valves
The report provides the profiles of leading players operating in the global hemostasis valves market. These include Boston Scientific Corporation Terumo Corporation, Merit Medical Systems, Inc., Freudenberg Medical, and ARGON MEDICAL.
• Boston Scientific Corporation is one of the leading providers of hemostasis valves in the U.S. The company pursues strategic acquisitions, distribution, and similar arrangements in new and existing markets to achieve increased operating efficiencies, geographic diversification, and market penetration. In October 2016, Boston Scientific Corporation launched the Resolution 360 Clip, a hemostasis clip designed for more accurate clip placement, for the treatment of upper and lower gastrointestinal bleeding.
• In March 2018, Boston Scientific Corporation acquired EMcision Limited, a privately-held company operating in the U.S. and Canada. This acquisition is expected to enhance the company’s endoscopic portfolio with the inclusion of radiofrequency devices.
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• Inorganic growth and partnerships are key strategies employed by leading players to expand their footprint in the market. This is anticipated to fuel the global hemostasis valves market in the near future.
The global hemostasis valves market has been segmented as follows:
• Hemostasis Valves Market by Product
o Y Connector Hemostasis Valves
o Double Y Connector Hemostasis Valves
o One-handed Hemostasis Valves
o Others
• Hemostasis Valves Market by Application
o Diagnostic
o Interventional
• Hemostasis Valves Market by End User
o Hospitals
o Ambulatory Surgery Centers
o Others
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