The global whisper valve market is estimated to grow at a CAGR of ~11% over the forecast period, i.e., 2022 – 2031. Whisper valve is a safety device used with cryogenic containers, to reduce the problem of loud noise, especially noise over 100 dB. The growth of the market can be attributed to the growing use of cryogenic pumps across various industries, accompanied by the increasing awareness regarding noise pollution. The rising demand for whisper valves in the healthcare sector is estimated to drive the market growth, backed by the growing use of cryogenic valves for preserving organs for donation. Additionally, the escalating requirement for organ donation, owing to the high rate of organ transplants is predicted to be another major growth driver for the market. For instance, in 2019, there were a total of around 153800 organ transplants worldwide. Further, the advancement in technology and availability of enhanced mechanical systems worldwide are anticipated to propel the market growth.
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The market is segmented by application into medical, food & beverage, hot-air balloon, and others, out of which, the medical segment is anticipated to hold a substantial share in the global whisper valve market over the forecast period on account of increasing use of whisper valves in cryogenic systems available at hospitals, surgical centers, and others. The growing use of cryogenic pumps in healthcare sector is estimated to boost the segment growth.
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
On the basis of geographical analysis, the global whisper valve market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing adoption of advanced technology in the medical industry, along with the presence of major manufacturers in the region.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing demand for whisper valves in the healthcare sector, backed by the surge in organ transplant surgeries. As per the data by the U.S. Health Resources & Services Administration, more than 40,000 organ transplants were performed in 2021, while over 106,076 people including, men, women, and children were on the national transplant waiting list.
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The global whisper valve market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global whisper valve market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The growing use of whisper valves in healthcare sector is estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~11% over the forecast period, i.e., 2022 – 2031.
Requirement of high initial investment is estimated to hamper the market growth.
The North America region is anticipated to provide more business opportunities over the forecast period owing to the increasing demand in the healthcare sector.
The major players in the market are Koninklijke Philips N.V., Airgas, Inc., CapitalAir Corporation, Schreiner GmbH, Burkert Corporation, Manpro Equipments Private Limited, Chunji Corporation, and Vitality Medical.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by gauge type, application, and by region.
The medical segment is anticipated to hold largest market size in value over the forecast period and display significant growth opportunities.
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