The global tourniquet market stood at US$184.6 mn in 2014 and is
projected to rise at an impressive CAGR of 9.3% during 2015–2023.
Expanding at this pace, the market is anticipated to reach US$408.6
mn by the end of 2023.
The rising incidence of traumatic limb injuries, coupled with the
pressing need for an efficient blood occlusion technologies, is a key
factor propelling the demand for tourniquet systems and cuffs. The
increasing incidence industrial accidents and accidental falls and
the growing number of road accidents causing profuse loss of blood
has stimulated the need for these devices for an immediate flow of
blood. The increasing morbidity of road accidents in various regions,
especially in developing nations, has bolstered the uptake of
tourniquets in hospitals and emergency units. These systems are
gaining traction as the first line of treatment for numerous
emergency orthopedic injuries caused by mishaps and road accidents.
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The growing number of potentially life-threatening hemorrhage is
anticipated to catalyze the demand for tourniquets for mitigating the
risk of exsanguination. In addition, rapid technological improvements
made in traumatic centers made in emerging economies, notably in
India, Philippines, and China, is a key factor anticipated to
accentuate the tourniquet market in the coming years.
The rising case of infections associated with the use of reusable
tourniquets has hampered the market to an extent. Nevertheless, the
advent of disposable tourniquets in major regional markets is
expected to bode well for the market. In addition, the vast
popularity of reusable systems in some regions is attributed to their
cost-effectiveness and their accepted use after proper sterlization.
The lack of awareness of the use of tourniquets and cuffs is another
key factor expected to hinder the market to an extent. However, the
rising healthcare spending across in several developed and developing
nations on equipping their trauma centers with advanced blood
occlusion technologies is a key factor expected to open up lucrative
growth avenues along the forecast period.
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Based on product type, the market is segmented into tourniquet
systems and cuffs, while the latter segment is further bifurcated
into disposable and reusable. Of these, the market for disposable
tourniquet cuffs is anticipated to rise at a significant CAGR of 9.9%
from 2015 to 2023. Regionally, the Asia Pacific market for
tourniquets is projected to rise at 9.9% CAGR during the forecast
period. The regional market is likely to be propelled by the rising
demand for technologically advanced surgical technology for traumatic
injuries, especially among a burgeoning middle class populations.
The global tourniquet market is intensely competitive and is fairly
dynamic, characterized by the presence of a vast number of players,
notes Transparency Market Research (TMR). The top players operating
in the market are Stryker Corporation, Zimmer Biomet Holdings, Inc.,
and ulrich GmbH & Co, with the first two companies in North
America. Some of the leading vendors of the market are VBM
Medizintechnik GmbH, Delfi Medical Innovation, Inc., Hammarplast
Medical AB, and Pyng Medical Corporation.
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Several players are keen on developing highly functional tourniquet
systems and cuffs and are expanding their product portfolio, in order
to gain a competitive edge over others. The launch of safe and
reliable systems, equipped with automatic control, is likely to
intensify competition in the market in the coming years. The advent
of disposable tourniquet cuffs has also shaped the competitive
landscape considerably.
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