The Europe advanced medical stopcock market is expected to reach US$ 321.6 Mn in 2027 from US$ 237.2 Mn in 2018. The market is projected to grow with a CAGR of 3.6% from 2019-2027.
Increasing geriatric population, rising prevalence lung cancer, consumption of the alcohol and tobacco, illegal drugs are fostering the growth of the intravenous and infusion therapies which in return resulting into the higher demand for medical stopcocks. However, the market is likely to get impacted by the risk factor such as safety concerns for using stopcocks during the forecast period.
Alzheimer disease and dementia, asthma, cancer, COPD, cystic fibrosis, diabetes, heart diseases are few of the leading chronic diseases that may cause death in individuals. The practice such as use of tobacco, alcohol consumption, poor nutrition and lack of physical activity among others are the leading factors for the chronic diseases. Therefore, the cases of chronic diseases is increasing these days. For instance, In Germany the risk of the chronic obstructive pulmonary disease (COPD) has a high prevalence rate and is expected to increase in the coming days. The leading cause of death in Germany is COPD; thus it is listed in the high disease burden. As per a report published in 2018, stated that approximately 12% of the older adults in Germany suffer from COPD. In 2016, nearly 7 million were registered with COPD in the country, and it is estimated that the number will increase to 8 million by 2030. According to the World Health Organization (WHO), it is estimated that COPD is expected to be the third most often cause of death by 2030.
In 2018, Europe advanced medical stopcock market held a market share of 28.20% of the global advanced medical stopcock market. The low-pressure stopcocks segment expected to dominate its market share and was valued at US$ 129.3 Mn in 2018 and is anticipated to reach US$ 180.0 Mn by 2027. . On the other hand, low-pressure stopcocks segment is also anticipated to witness the fastest growth rate of 4.0% during the forecast period, 2019 to 2027.
Similarly, in 2018 medium-pressure stopcocks segment was valued at US$ 65.8 Mn in 2018 and is anticipated to reach US$ 82.8 Mn by 2027 and is also expected to grow at the fastest growth rate of 3.2 % during the forecast period.
Furthermore, the hospitals & clinics segment held a largest market share of 41.9% of the advanced medical stopcock market, in 2018. This segment is also expected to dominate the market in 2027 as it is the primary care center for most of the population.
Some of the major primary and secondary sources for advanced medical stopcock included in the report are, Cancer Organisation Soutein, Centers for European Heart Network (EHN), Central and Eastern Europe's (CEE's), European Commission, and etc.