Modern medical technologies and an emphasis on emergency medicine have transformed the tourniquet industry in recent years. The military utilized tourniquets, but now private healthcare uses them, growing the industry.
Accidents, injuries, and operations are driving up medical tourniquet demand, affecting the industry. Emergency responders, hospitals, and military healthcare staff drive market growth.
The market has changed greatly due to bandage technological advances. Pneumatic and computer tourniquets are used in many healthcare settings because they are more precise and easy to use. These innovative innovations address the requirement for functional, user-friendly technology.
People realize how crucial tourniquets are to halt major bleeding, hence the industry has expanded. Training programs have helped physicians, first responders, and average people regard tourniquets as lifesaving. This boosts market demand.
Legal atmosphere affects medical tourniquet market. Companies adopt quality standards because strict restrictions ensure product safety and efficacy. Entering and remaining in a market requires following the rules.
Medical tourniquet firms are both well-known and new, making the market competitive. Mergers, acquisitions, and collaborations help organizations enhance their goods and expand globally.
Health care has helped emerging economies expand their markets. People are learning about modern medical equipment and spending more on healthcare. This allows market players to enter new markets.
Despite advances in technology, cost still drives market responses. Medical tourniquets must be affordable, especially in low-cost areas. Low-cost choices offer firms an advantage over competition.
Market participants increasingly prioritize customization and product differentiation. Tourniquets with remote monitoring or ergonomic shapes may fulfill healthcare demands and preferences.
The COVID-19 pandemic demonstrated the need of flexible supply chains. Supply chain issues such raw material shortages and transportation issues have hurt the medical tourniquet business. Companies are adapting to these difficulties to ensure client delivery.
Telemedicine has also transformed the tourniquet market. Patients and caregivers may require tourniquets and other medical instruments during remote medical visits. New healthcare delivery methods alter the market.
As environmental concerns grow, the medical device industry is interested in eco-friendly goods and manufacturing processes. Sustainable market participants may appeal to healthcare and environmentalists.
Medical Tourniquets Market Highlights:
Medical Tourniquets Market Synopsis
The Medical Tourniquets Market is expected to reach USD 687.21 Million by 2030 at 12.4% CAGR during the forecast period 2022-2030. The rising aging population, increasing road accidents, and the growing number of joint replacement surgeries is set to drive the demand for medical tourniquets during the forecast period.
Medical tourniquets are commonly used in medical procedures and high-risk or emergencies to control excess bleeding. It regulates blood flow by compressing blood vessels and helps medical professionals to carry out procedures without further blood loss. Surgical tourniquet, tactical tourniquet, pediatric tourniquet, military tourniquet, emergency medical tourniquet, and emergency medical tourniquet are the various types of tourniquets used to control arterial blood flow.
Strategic mergers & acquisitions are also projected to boost market growth with companies looking to strengthen their market positions, expand their product portfolios, and improves their brand images.
For instance, in April 2017, Teleflex announced the acquisition of Pyng Medical for approximately USD 8.6 million. Pyng Medical operates as a subsidiary of Teleflex Canada and acquisition helped Teleflex strengthen its position in the medical tourniquets market.
Market Influencer
Accidents significantly impact the growth of the medical tourniquets market in industrial settings and on the roads as they are extensively used in such emergencies to control bleeding of the person affected.
Market Drivers
- Increased application of medical tourniquets in the healthcare industry as medical tourniquets find widespread application in various surgical procedures.
- The growth of the market is driven by a high number of surgeries and healthcare facilities. Moreover, technological advancements, increasing number of ambulatory services, and favorable government initiatives are projected to have a synergistic effect on market growth.
- The rise in the number of road accidents is also responsible for the growth of medical tourniquets industry. According to MRFR analysis, every year approximately 2.35 million citizens in the US face injury or disability caused by road accidents, and it cost of treatment is nearly 230.6 billion per year which is USD 820 per person.
- The decreasing costs and increasing safety of surgical procedures and growth of medical tourism are expected to drive market growth exponentially during the forecast period.
- An increasing number of complex operating procedures which can cause excessive blood loss.
Market Restraints
- The scarcity of trained professionals who are capable of handling emergencies and performing surgical procedures is likely to hamper the growth of the medical tourniquets market during the forecast period.
Segmentation
Medical Tourniquets Market, By Type
- Tourniquet Systems: Also known as personalized tourniquet systems and used as a unit to provide extra care during the surgical procedure. This segment is likely to dominate the market with largest market share.
- Tourniquet Cuffs: This sub-segment includes pneumatic and non-pneumatic cuffs. Tourniquet cuffs are inflated with air to create pressure which could prevent blood loss.
- Tourniquet Accessories: This segment is expected to hold the least markets share in the medical tourniquets market.
Medical Tourniquets Market, By ApplicationÂ
- Lower-Limb Tourniquets: These are used for medical procedures conducted on lower body and likely to hold maximum market share.
- Upper-Limb Tourniquets: It has been used for upper body surgical treatments and anticipated to register the highest CAGR during the forecast period.
Medical Tourniquets Market, By End-User
- Hospitals and Trauma Centers: hospitals and trauma centers are expected to be the largest segment because hospitals and clinics are usually the primary points for diagnosis, treatment, and rehabilitation of individuals.
- Ambulatory Surgery Centers: A small segment, these centers provide immediate pain relief and rudimentary surgical care in emergencies.
- Specialty Clinics: Consisting of long-term care for chronic patients and the elderly, this is a fast-growing market segment, especially in developed nations.
- Others: Others segment includes small- and mid-scale healthcare centers, government organizations, and emergency centers.
Medical Tourniquets Market, By Region
- Americas: The Americas is the largest regional market. An increasing number of surgeries and increasing cases of gun violence in the region is also likely to drive the growth of the market during the assessment period. The US alone has over 7,200 active hospitals and a well-established healthcare sector where these surgeries are performed using medical tourniquets, thereby driving the market growth in the region.
- Europe: Europe has some of the best healthcare services in the world. The need for surgical tourniquets is high in this region due to the increasing number of healthcare centers in the region and rising adoption of new technologies in the healthcare industry.
- Asia-Pacific: The fastest-growing regional market for medical tourniquets, Asia-Pacific has the world’s largest population and a fast-developing healthcare sector. Additionally, East Asia has a growing geriatric population which is directly associated with a rising number of surgeries, and it is likely to drive the growth of the market.
- Middle East & Africa: Despite the developing healthcare infrastructure, medical tourniquets are used at each level of healthcare such as small, mid and top-level healthcare centers in various medical procedures, which is responsible for the rising demand for medical tourniquets in the region.
Medical Tourniquets Market Key Players
- Zimmer Biomet (US)
- Stryker Corporation (US)
- Delfi Medical Innovation (Canada)
- Hammarplast Medical AB (Sweden)
- VBM Medizintechnik (Germany)
- Ulrich Medical (Germany)
- Pyng Medical (Part of Teleflex) (Canada)
- OHK Medical Devices (US)
- Huaxin Medical Equipment Factory (China)
- Sam Medical (US)
- A.T Resources (US)
- Rudolf Riester GmbH (Germany)
- Anetic Aid (UK)
- Dessillons & Dutrillaux (France)
- Hangzhou Zhengda Medical Co. (China)
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