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The Surgical Tourniquets Market is estimated to be valued at US$ 518.52 Mn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The surgical tourniquets market involves products that are used to control blood flow into a limb during various surgeries. Tourniquets allow surgeons to keep the surgical area clean and clear of blood for better visibility. Some common types of tourniquets used are pneumatic tourniquets and tourniquet cuffs. With advancement in technology, manufacturers are introducing smart tourniquets equipped with features like pressure sensors and monitors to help control blood flow more precisely. This is further improving safety and outcomes of surgeries. Increasing number of joint reconstruction and limb amputation surgeries are major factors fuelling demand for surgical tourniquets.
Market Dynamics:
Growth in the number of surgeries such as joint replacement and limb amputation is a key driver for the surgical tourniquets market. For instance, according to the National Center for Biotechnology Information (NCBI), over 7 million people undergo total knee arthroplasty every year globally. This number is expected to increase significantly with rapidly growing geriatric population worldwide. Furthermore, new product launches catering to various surgical needs by major players are also supporting the market growth. For example, in 2022, Zimmer Biomet launched its next generation Tourniquet Cuff Proximal Sensor, offering real time monitoring and alerts to enhance patient safety. However, availability of alternative techniques to control blood flow without using tourniquets can restrain the market to some extent over the forecast period.
Read More Insights @ https://www.coherentmarketinsights.com/market-insight/surgical-tourniquets-market-1736
Segment Analysis
The global surgical tourniquets market is dominated by limb tourniquets sub-segment. Limb tourniquets holds more than 60% market share as they are widely used during limb surgeries like knee replacement, hip replacement etc. to temporarily cut off blood circulation to the limb. Other sub-segments include tourniquet cuffs and tourniquet accessories.
PEST Analysis
Political: Regulations regarding usage of tourniquets during surgeries in developed countries favor market growth. Economic: Rising healthcare spending and growing number of surgeries being performed globally drives the market. Social: Increasing prevalence of lifestyle diseases and accidents necessitating surgical procedures boosts demand. Technological: Advancements in tourniquet designs for improved effectiveness and patient safety augur well for the market.
Key Takeaways
The global surgical tourniquets market is expected to witness high growth, exhibiting CAGR of 7.8% over the forecast period, due to increasing number of joint replacement surgeries being performed worldwide. North America dominates the market currently owing to rising obesity levels and growing geriatric population in the region requiring surgical procedures. Regional analysis
The North America surgical tourniquets market accounts for over 35% of the global market share currently. This is attributed to rapidly growing aging population necessitating joint replacement surgeries in the US and Canada. Asia Pacific is projected to exhibit fastest growth during the forecast period with a CAGR of around 9%, led by countries like China, India with huge patient pools and increasing medical tourism.
Key players operating in the surgical tourniquets market are Zimmer Biomet, Stryker Corporation, Delfi medical innovations inc., Hammarplast Medical AB, OHK Medical Devices Inc., Pyng Medical Corp., Beijing Jinxinxing Medical Device Factory, SourceMark, AneticAid. Companies are focusing on new product launches and regulatory approvals to consolidate their market position.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
