Hemostasis Valve Market - Growth, Trends, and Forecasts (2020 - 2025)

The significant factor attributing this market's growth is the increasing number of interventional procedures and surgical procedures worldwide. Rising patient pool with different illnesses and rising demand for intensive hemostasis devices is also fueling the market growth.

Heart disease is the world's major cause of death and accounted for 17.9 million fatalities in 2016, according to the WHO published data. Worldwide, the growth of the geriatric population has led to increased cardiovascular disease prevalence. Since 2011, the medical devices industry has seen an annual growth rate of around 4.5 percent. Rising occurrences of cardiovascular illnesses and an increase in the aging population have a significant impact on the growth of the market for the Hemostasis valve.

Key Market Trends

Hospitals is Expected to Hold the Largest Market Share in the Hemostasis Valve Market

Dominant share is retained by the Hospital segment owing to the attributes such as growing hospital numbers in the developing countries due to the development of healthcare infrastructure.

Facilities such as healthy food, supportive services, a friendly environment, and patient safety, will play a significant role in upsurging the demand for the hospitals. As per the National Bureau of Economic Research (NBER), improved facilities drive up the demand for hospitals by an average of 38.4 percent. Hospitals are probably to see a huge surge of new patients as healthcare reform comes into force effortlessly, and governments are introducing new policies to optimizing patient flows.

North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to dominate the overall Hemostasis Valve market, throughout the forecast period. This is owing to factors like the rising prevalence of chronic disorders such as infectious diseases and the geriatric population.

The cardiovascular disease stays the major cause of fatalities in the US, which in 2016 resulted in 840,768 fatalities (635,260 cardiac). Between 2006 and 2016, the death rate from CVD in the United States declined by 18.6% and 31.8% from coronary heart disease, according to the American College of Cardiology Foundation, Feb 2019. Coronary events are expected to occur in the United States in 2019 in around 1,055,000 Americans, along with 335,000 reoccurring and 720,000 new coronary incidents which are further expected to upsurge the demand of hemostasis devices in the market during the forecast period owing to the growth in the number of cardiac surgery.

Competitive Landscape

The Hemostasis Valve market is moderately competitive and consists of a few major players. In terms of market share, few of the major players are currently dominating the market. And some prominent players are vigorously making acquisitions and new product launches with the other companies to consolidate their market positions across the globe.

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