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The hemostasis valve market share is expected to increase by USD 73.7 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.98%.
This hemostasis valve market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers hemostasis valve market segmentation by application (angiography and angioplasty) and geography (North America, Asia, Europe, and the Rest of World (ROW)). The hemostasis valve market report also offers information on several market vendors, including Abbott Laboratories, Advanced Lifesciences Pvt. Ltd., Argon Medical Devices Inc., B. Braun Melsungen AG, Boston Scientific Corp., DeRoyal Industries Inc., Freudenberg SE, Galt Medical Corp., Isla Lab Products LLC, Lepu Medical Technology Beijing Co. Ltd., Merit Medical Systems Inc., Qosina Corp., Scitech Medical Products SA, SCW Medicath Ltd., Shenzhen Antmed Co. Ltd., Suru International Pvt. Ltd., Teleflex Inc., Terumo Corp., and Transhealthcare India Pvt. Ltd. among others.
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The high growth potential in emerging countries is notably driving the hemostasis valve market growth, although factors such as stringent regulations may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the hemostasis valve industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Hemostasis Valve Market Driver
One of the key factors driving the global hemostasis valve market growth is the high growth potential in emerging countries such as China and India. This growth can be mainly attributed to the rise in awareness about the benefits of hemostasis and tissue sealants and the growth in the number of surgical procedures due to the rise in the prevalence of diseases and related risk factors. For instance, in 2019, chronic diseases were the leading cause of early deaths in China. Therefore, vendors are increasing their efforts to expand their market penetration in such emerging economies. For instance, between 2020 and 2023, Baxter International plans to significantly expand the presence of its hemostasis and sealants in China. CryoLife is also seeking regulatory approval for its BioGlue surgical adhesives in China. Such factors are expected to drive the growth of the hemostasis valves market in the forecast period.
Key Hemostasis Valve Market Trend
Another key factor driving the global hemostasis valve market growth is the demand for five-part hematology valves that provides more detailed information on white blood cells (WBC). It differentiates WBCs into five parts, namely neutrophils, lymphocytes, basophils, eosinophils, and monocytes. It is essential to distinguish between eosinophils and basophils from neutrophils in oncology or allergy clinics that require eosinophil and basophil counts. While 30% of the total sample generated from a three-part instrument has a suspicious flag, a five-part instrument can reduce this number to about 20% because it provides more detailed information. Such factors will boost the demand for five-part instruments, which will further support the market growth during the forecast period.
Key Hemostasis Valve Market Challenge
One of the key challenges to the global hemostasis valve market growth is the stringent regulations. Due to factors such as the complexity of hemostatic agents, absorbable hemostats are regulated with strict controls to ensure their safety and efficacy, when introduced into a patient. For instance, in the US, absorbable hemostatic agents and dressings are categorized as Class-III devices, which are subjected to a more exacting and expensive process, typically requiring clinical trials known as premarket approval (PMA), before being sold. Companies submitting PMA for absorbable hemostatic agents must provide extensive human clinical and animal data to gain approval for each specific indication. The PMA process also requires detailed information on validations, manufacturing sites, manufacturing processes, parameters, and lifecycle management and can take more than 450 days. On average, the PMA cost for a Class-III device is around USD 250,000. Such factors are expected to negatively impact the growth of the hemostasis valves market in the forecast period.
This hemostasis valve market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global hemostasis valve market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the hemostasis valve market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the hemostasis valve market encompasses successful business strategies deployed by the key vendors. The hemostasis valve market is fragmented and the vendors are deploying growth strategies such as acquisitions and collaborations to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The hemostasis valve market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the hemostasis valve market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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43% of the market's growth will originate from North America during the forecast period. The US is the key market for hemostasis valve market in North America. Market growth in this region will be faster than the growth of the market in Europe and the Rest of World (ROW).
The significant increase in the investments in healthcare research and testing in countries such as the US will facilitate the hemostasis valve market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 had a positive impact on the hemostasis valves market in North America, owing to the increasing need for blood testing for patients with COVID-19 complications. For instance, the lymphocyte count helps provide better insights into the severity of COVID-19. These factors will drive the demand for hemostasis valves during the forecast period.
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The hemostasis valve market share growth by the angiography segment will be significant during the forecast period. The growth is attributed to the high demand for hemostasis valves to reduce blood loss during angiography treatments.
This report provides an accurate prediction of the contribution of all the segments to the growth of the hemostasis valve market size and actionable market insights on post COVID-19 impact on each segment.
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Hemostasis Valve Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.98% |
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Market growth 2022-2026 |
$ 73.7 million |
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Market structure |
Fragmented |
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YoY growth (%) |
5.68 |
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Regional analysis |
North America, Asia, Europe, and Rest of World (ROW) |
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Performing market contribution |
North America at 43% |
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Key consumer countries |
US, Germany, UK, China, and India |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Abbott Laboratories, Advanced Lifesciences Pvt. Ltd., Argon Medical Devices Inc., B. Braun Melsungen AG, Boston Scientific Corp., DeRoyal Industries Inc., Freudenberg SE, Galt Medical Corp., Isla Lab Products LLC, Lepu Medical Technology Beijing Co. Ltd., Merit Medical Systems Inc., Qosina Corp., Scitech Medical Products SA, SCW Medicath Ltd., Shenzhen Antmed Co. Ltd., Suru International Pvt. Ltd., Teleflex Inc., Terumo Corp., and Transhealthcare India Pvt. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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