The surgical tourniquets market is anticipated to grow with a CAGR of nearly 7.6% during the forecast period. The major factors attributing to the growth of the surgical tourniquets market include a rise in the number of accident and emergency cases, increased geriatric population, and the global prevalence of sports injuries.
For instance, “Accident and Emergency (A&E) statistics” states that about 24.8 million sports-injuries were recorded In 2019 which is 2% more when compared to the previous year, is also projected to increase in the forecast period, thus drives the global surgical tourniquets market.
Key Market Trends
Tourniquets Systems are Expected to Hold the Major Market Share in the Surgical Tourniquets Market
The tourniquets systems segment accounted for the largest share of the market in recent years and is expected to continue throughout the forecast period. The dominance is primarily due to the rising demand for joint replacement surgeries along with the introduction of various products by key players in the market.
Furthermore, tourniquet systems have higher demand as they are widely used due to their ability to create a bloodless field during orthopedic surgery that helps surgeons to decrease the procedural time, thus driving the growth of this market.
North America Dominates the Market and Expected to do Same in the Forecast Period.
North America has been the primary market for surgical tourniquets, owing to the rise in the number of trauma cases, and cosmetic surgery cases and an increase in the adoption of advanced technologies in the U.S. For instance, according to the 2018 Plastic Surgery Statistics, 5.8 million reconstructive procedures were done globally, resultant rise in higher demand for the surgical tourniquets that fuels the market in the region propelling the global surgical tourniquets market.
Globally, the surgical tourniquets market is expected to witness the fastest growth in Asia-Pacific during the forecast period due to the huge population base, rising geriatric population coupled with trauma centers in the region. Also, the presence of global and local players investing in the R&D activities in China, India, and Japan drive the growth of the market in this region.
The Surgical tourniquets market is moderately competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some prominent players are launching new products, while others are distributing the products. Some of the companies which are currently dominating the market are ZIMMER BIOMET HOLDINGS INC, Stryker Corporation, Ulrich Medical, Hammarplast Medical AB, and AneticAid Ltd.
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