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Tourniquet Market to Reach an Opportunity of US$ 408.6 Million by the By Rohini Chaudhari

  in Marketing | Published 2019-03-07 05:33:53 | 16 Reads | Unrated

Summary

Tourniquet market was worth US$184.6 million in 2014 and is prognosticated to reach a valuation of US$408.6 million by 2023 end. During the forecast period of 2015–2023, the global market is projected to rise at a handsome CAGR of 9.3%. The rising prevalence of severe limb injuries, fueled by the

rising number of road accidents in various developing regions, is a prominent factor fortifying the demand for tourniquets.

Full Content

Global Tourniquet Market: Overview

Many players operate in the global market for tourniquet, making it highly competitive. In order to steal a march over their rivals in such a cutthroat landscape, companies are seen focusing on growing their product portfolio. To that end, they are coming up with tourniquet systems and cuffs having excellent functionalities. The market for tourniquet is likely to see intensifying competition on the back of launch of safer and more reliable systems, having automatic control facility.

Report Overview @

ps://www.transparencymarketresearch.com/tourniquet-market.html">https://www.transparencymarketresearch.com/tourniquet-market.html

The market can be broadly segmented into tourniquet systems and cuffs. The emergence of disposable tourniquet cuffs is also serving to change the competitive dynamics in the market. With the risk of infections increasing on account of the use of reusable tourniquets, the disposable ones are seeing swift uptake. However, in certain regions the reusable ones are still preferred after proper sterilization because of their relatively cheaper price. All such product developments and their rapid uptake are making the global market for tourniquet dynamic as well.

Global Tourniquet Market: Trends and Opportunities

Majorly fuelling the global tourniquet market is the alarming increase in traumatic limb injuries resulting from industrial accidents, sudden accidental falls, and road accidents. They cause considerable blood loss, thereby necessitating the use of tourniquet cuff to safely thwart arterial blood flow into a portion of an extremity by exerting a uniform circumferential pressure around it at a desired point. Hospitals and emergency units are at the forefront of driving demand for tourniquets since they are first line of treatment for a host of emergency orthopedic injuries resulting from road accidents and mishaps.

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The increasing instances of life-threatening hemorrhage along with the emergence of state-of-the-art traumatic centers, particularly in developing economies of China, India, and Philippines, is also expected to catalyze growth in the tourniquet market in the next couple of years. In addition, emergence of technologically superior systems that can conduct blood occlusion even in harsh weather, is also predicted to spell opportunity for the market for tourniquet in the near future.

A roadblock to the market growth, on the flipside, is the lack of knowledge about the use of tourniquets. However, on account of increasing allocations on healthcare in both developed and developing nations and proliferation of trauma centers with superior blood occlusion technologies, the demand in the market will likely remain supported in the near future despite such challenges.

Global Tourniquet Market: Regional Outlook

North America is the leading region in the global tourniquet market that accounts for over half the share in it. The increasing road accidents resulting in severe orthopedic injuries in the region has served to boost its market. In addition, constant efforts by the authorities to enhance awareness about usage of technologically superior tourniquet cuffs as an effective first line of treatment has also upped their uptake in healthcare facilities. Europe is considered the second-leading region in the global tourniquet market because of its superior emergency care infrastructure.

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Vis-à-vis growth rate, on the other hand, Asia Pacific is predicted to lead the market on the back of a burgeoning middle class population, soaring demand for technologically advanced trauma care products, and the foray of numerous medical device companies in the region.

Companies Mentioned in the Report

Some of the prominent companies operating in the global tourniquet market are Zimmer Biomet Holdings, Inc., Stryker Corporation, ulrich GmbH & Co, VBM Medizintechnik GmbH, Hammarplast Medical AB, Delfi Medical Innovation, Inc., and Pyng Medical Corporation.

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