May 29, 2024

Surgical Tourniquets Market High Growth Opportunities, Emerging Trends, Industry Review, Forecast Till 2031

The surgical tourniquets are medical devices used during surgeries to restrict blood flow to the operating limb and provide clear field of view to the surgeons. These devices are placed above the wound area on the upper arm or leg and manually inflated via pump or pressurized gases. They play crucial role during orthopedic, vascular and other limb surgeries by enabling surgeons to work easily on bloodless limb. With rising incidence of accidents, chronic diseases and cancer globally, the number of surgical procedures have increased significantly over the past few years. This in turn is estimated to drive the demand for reliable and safe surgical tourniquets during the forecast period.

The global Surgical Tourniquets Market is estimated to be valued at US$ 518.52 Mn in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Get more insights on this topic: https://www.coherentmarketinsights.com/market-insight/surgical-tourniquets-market-1736

Market key trends:

Development of single use disposable tourniquets has reduced risks of cross contamination and infection. Earlier reusable tourniquets required sterilization after each use posing contamination threat. The single use tourniquets such as tourniquet cuffs and pneumatic pumps have gained wide acceptance among healthcare facilities and surgeons. Manufactures are also developing apps integrated tourniquets providing real time data on applied pressure and duration of use to surgeons. This has improved safety and effectiveness of tourniquets. Regulatory bodies support for such innovative single use tourniquets is fueling their demand over reusable counterparts globally.

Porter’s Analysis

Threat of new entrants: Low barrier to entry but established players have economies of scale and brand loyalty advantages.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes but quality and safety factors increase switching costs.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power as raw materials are commodity chemicals and companies can choose from multiple suppliers.

Threat of new substitutes: Substitutes have low threat currently due to regulated nature of business and established surgical protocols but new technologies pose future threat.

Competitive rivalry: Intense competition among major players to gain market share through new product launches and acquisitions.

Key Takeaways

The global surgical tourniquets market is expected to witness high growth. The global Surgical Tourniquets Market is estimated to be valued at US$ 518.52 Mn in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024 to 2031.
North America currently dominates the market due to higher healthcare spending and growing surgical procedures in the region. However, Asia Pacific region is projected to witness highest CAGR during the forecast period due to rising healthcare expenditure, increasing surgical procedures and growing medical tourism industry in countries like India, China and Indonesia. North America currently accounts for largest share of global surgical tourniquets market owing to rising number of surgical procedures and developed healthcare infrastructure in US and Canada.

Key players related content comprises – 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. Zimmer Biomet and Stryker Corporation hold majority share of global surgical tourniquets market.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it