Hemostasis Valves Market Overview:
The Hemostasis Valves Market size is expected to reach USD 175 million by 2023 from USD 132 million in 2018, at a CAGR of 5.8%. The growth in this market is attributed to the increasing number of interventional procedures. Emerging markets will be the key growth hotspots in the hemostasis valves market; a favorable market scenario in these countries will serve to attract a number of players to focus on opportunities there.
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In 2017, Merit Medical Systems was the leading player in the hemostasis valves market. The company operates through two business segments, namely, Cardiovascular and Endoscopy. The company’s strong brand recognition and extensive product portfolio in the hemostasis valves market is its key strength. Merit Medical markets its products across the US, Canada, Africa, Europe, the Middle East, Asia, South and Central America, and Oceania. The company recorded positive growth in its revenue in 2017, as compared to 2016. Moreover, Merit Medical generated 96.3% of revenue through its Cardiovascular segment.
By type, the double Y-connector hemostasis valves segment is expected to grow at the highest rate during the forecast period
Based on type, the hemostasis valves market is segmented into three segments, namely, hemostasis valve Y-connectors, double Y-connector hemostasis valves, one-handed hemostasis valves, and other hemostasis valves. During the forecast period, the double Y-connector hemostasis valves segment is estimated to register the highest growth rate.
By end user, the hospitals segment to dominate the hemostasis valves market during the forecast period
Based on end user, the hemostasis valves market is segmented into hospitals and other end users. The hospitals segment is estimated to account for the largest share of the overall market in 2018. This is primarily attributed to the increasing number of hospitals in emerging countries due to infrastructural development initiatives and increasing number of patients prefer hospitals for surgical procedures.
Some of the prominent players in the hemostasis valves are Merit Medical Systems (US), Abbott (US), Teleflex Incorporated (US), Boston Scientific (US), B. Braun Melsungen (Germany), DeRoyal Industries, Inc. (US), Freudenberg Medical (US), Scitech (Brazil), and Argon Medical (US).
In 2017, Merit Medical Systems held the leading position in the hemostasis valves market.
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