Rockville, Dec. 19, 2022 (GLOBE NEWSWIRE) -- As per a new industry analysis by Fact.MR, a market research and competitive intelligence provider, the global surgical tourniquets market is currently valued at US$ 488 million and is expected to rise at a CAGR of 8.5% from 2022 to 2032.
Surgical tourniquets are a type of medical equipment used to limit blood flow in the blood vessels for a longer duration during surgeries. To stop blood from flowing across a limb, doctors employ surgical tourniquets. Cosmetic and orthopaedic surgeries employ surgical tourniquets more commonly than other types of procedures. With the use of surgical tourniquets, surgeons may work more quickly, safely, accurately, and with more visibility.
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Demand for surgical tourniquets is increasing as a result of rising demand for a range of surgeries, including falls and orthopaedic procedures. Globally increasing rates of traffic accidents have further fuelled the sales of surgical tourniquets. When haemorrhages cannot be managed by direct pressure or selective vascular clamping, tourniquets are commonly used. Modern surgical tourniquet systems have several benefits, including safety, accuracy, and dependability, which have led to their widespread use in orthopaedic procedures. Additionally, a variety of pneumatic cuffs are now connected with technologically advanced tourniquet devices to improve the performance of the entire system.
Key Takeaways from Market Study
- The global market for surgical tourniquets is projected to reach US$ 1.1 billion by 2032.
- China’s market is predicted to expand at a high CAGR of 13% during the forecast period.
- Sales of tourniquet cuffs are likely to increase at a CAGR of 9% during the next 10 years.
- Germany’s market for surgical tourniquets is predicted to expand at a CAGR of 6% from 2022 to 2032.
Winning Strategy
Top manufacturers of surgical tourniquets are focusing on producing advanced products to earn more revenue. Direct sales to the healthcare sector are the marketing strategies adopted by leading manufacturers.
To improve their market position key players are also emphasizing collaboration and partnerships.
- A privately held firm, HyperBranch Medical Technology, Inc., was acquired by Stryker in October 2018 for a total equity value of around US$ 220 million. With the assistance of its unique polymers and cross-linked hydrogels, HyperBranch is primarily focused on the creation of medical devices.
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Competitive Landscape
Major manufacturers of surgical tourniquets often employ direct sales to healthcare practitioners and tender-based sales to public health agencies. To fulfil the increased demand for surgical tourniquets, businesses are increasing their production capacities.
Most of the prominent companies in the surgical tourniquets market are concentrating on developing and creating advantageous technologies and targeted solutions from both internal and external sources to meet the unmet demand in developing regions.
The two main tactics used by manufacturers to boost product sales across different locations are acquisitions and collaborations.
- On October 15, 2018, Zimmer Biomet and Apple teamed up to launch significant clinical research that details patient experiences and enhances the path of joint replacement.
However, the risk of disease transmission while utilizing reusable cuffs is likely to hinder the sales of surgical tourniquets. The blood vessels may be harmed if surgical tourniquets are used improperly. Therefore, a lack of trained staff or skilled specialists will further impede the growth of the market for surgical tourniquets.
Throughout the projection period, North America is expected to maintain its dominance in the global surgical tourniquets industry. This can be ascribed to the proliferation of cutting-edge medical technologies and the increased demand for minimally-invasive surgeries. On the other hand, the Asia Pacific market is anticipated to increase at a significant CAGR during the forecast period. This is due to increased healthcare infrastructure, growing rate of traffic accidents, and rising public knowledge of cosmetic procedures.
Key Companies Profiled
- C.A.T Resources
- Delfi Medical Innovation
- Hammarplast Medical
- Huaxin Medical Equipment Factory
- OHK Medical Devices
- Pyng Medical (Part of Teleflex)
- Sam Medical
- Stryker Corporation
- Ulrich Medical
- VBM Medizintechnik
- Zimmer Biomet
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Key Segments of Surgical Tourniquets Industry Research
- By Product:
- Tourniquet Systems
- Tourniquet Cuffs
- Tourniquet Accessories
- By Application:
- Knee Arthroplasty
- Amputation of Limbs
- Plastic Surgeries
- Trauma Cases
- By End User:
- Hospitals
- Ambulatory Surgical Centers
- Specialized Clinics
- Others
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global surgical tourniquets market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of product (tourniquet systems, tourniquet cuffs, tourniquet accessories), application (knee arthroplasty, amputation of limbs, plastic surgeries, trauma cases), and end user (hospitals, ambulatory surgical centers, specialized clinics, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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