Press release
Tourniquet Market Shows Immense Growth with Key Drivers 2030 | Zimmer Biomet, ulrich GmbH & Co. KG, Stryker, Delfi Medical
Market Industry Reports (MIR) has published a new report titled "Tourniquet Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030." According to the report, the global tourniquet market accounted for over US$ 345 million in 2019. It is anticipated to grow at a CAGR of 7.8% from 2020 to 2030.The increasing number of road accidents worldwide is among the primary factors driving growth of the tourniquet market. According to the 2018 annual report on "Reported road casualties in Great Britain," in 2016, there were around 24,101 casualties reporting serious injuries from road traffic accidents and the number increased to 25,511 in 2018. Moreover, the increasing cases of patients that require orthopedic surgeries, such as knee replacements, and Anterior Cruciate Ligament (ACL) reconstruction surgeries, will further drive market growth. According to the 2018 annual meeting of the American Association of Orthopaedic Surgeons (AAOS), by 2030, the total knee replacements will increase by 189 percent. Tourniquets are widely used in orthopedic surgeries to minimize intraoperative blood loss, provide a clear operating field, and to obtain drier bone surfaces for better interdigitation of bone cement.
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Top Players:
Some of the prominent players in the global tourniquet market are Zimmer Biomet, ulrich GmbH & Co. KG, Stryker, Delfi Medical, VBM Medizintechnik GmbH, Pyng Medical, Huaxin Medical Equipment Factory, Hammarplast Medical AB, CAT Resources, LLC, and SAM Medical, among others.
Besides, the extensive utilization of tourniquets in healthcare facilities, the increasing adoption of tourniquets is also observed in military settings. For instance, in May 2019, the Committee on Tactical Combat Casualty Care (CoTCCC) released a new recommended devices & adjuncts document that substantially expanded the list of tourniquets recommended for combat use. The extended list now includes non-pneumatic limb tourniquets such as Combat Application Tourniquet (C-A-T) Gen 7 & Gen 6, Ratcheting Medical Tourniquet -Tactical (RMT-T), SAM Extremity Tourniquet (SAM-XT), and Tactical Mechanical Tourniquet (TMT), among others.
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However, tourniquets are often associated with risks of serious and irreversible injuries to nerves, muscles, blood vessels, and soft tissues, which discourages their utilization in healthcare settings. Moreover, the lack of skilled professionals is likely to restraint growth of the tourniquet market.
Asia Pacific is expected to grow at the highest CAGR in the global tourniquet market over the forecast period. Rising incidents of orthopedic injuries, growing geriatric populations, improving healthcare facilities and increasing patients undergoing knee replacement surgeries are anticipated to drive market growth in this region.
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Market Industry Reports is a global leader in market measurement and advisory services. It is a 100% subsidiary of ExlTech. The firm has always been at the forefront of innovations to address worldwide industry trends and opportunities. We offer our clients a unique depth of market intelligence in an actionable format to move their business forward. Our analysis incorporates consumer study in more than 100 countries, providing a tactical approach to drive sustained business growth. We continue to pioneer state-of-the-art approach in research & analysis that will help you to overcome complexities and stay ahead of the curve. By nurturing the perception of genius and optimized market intelligence, we unfold contingencies for our clients in the evolving world of technology, mega-trends, and industry convergence. We inspire our clients to empower and shape their businesses and to build world-class products.
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