Market Is Estimated To Witness High Growth Owing To Increasing Number Of Surgeries And Technological Advancements

The Surgical Tourniquets Market is estimated to be valued at Us$ 481.0 Mn in 2022 and is expected to exhibit a CAGR Of 7.8% over the forecast period 2023-2032, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Surgical tourniquets are medical devices used to temporarily restrict blood circulation to a limb or other body part during surgery. It helps maintain a bloodless surgical field and prevent excess blood loss during surgical procedures. The devices make use of compression pressure to constrict blood vessels and restrict blood flow. Common surgical tourniquets include pneumatic tourniquets and manual tourniquets.

Market Dynamics:

The surgical tourniquets market is expected to witness high growth over the forecast period owing to increasing number of surgeries being performed globally every year. According to WHO, over 230 million major surgical procedures are carried out annually around the world. Rising geriatric population suffering from various joint and limb disorders also drives the demand for replacing joints and ligaments which in turn boosts surgical procedures. Technological advancements are also fueling the market growth. Development of next generation tourniquet systems with enhanced features such compact size, improved cuff design, and automatic pressure regulation systems providing safety and effectiveness are gaining popularity.

SWOT Analysis

Strength:
– Surgical tourniquets are essential tools in surgeries, providing better visibility and control of bleeding to surgeons.
– Technological advances have led to the development of next-generation tourniquets with improved features and efficacy.
– Increasing investments by market players to develop innovative product offerings.

Weakness:
– High costs associated with advanced tourniquets may limit their adoption in price-sensitive markets.
– Lack of proper training for effective use of tourniquets can lead to adverse events.

Opportunity:
– Rising prevalence of chronic diseases and traumatic injuries worldwide is fueling the number of surgical procedures performed annually.
– Growing healthcare expenditures in developing countries provide new opportunities for market expansion.
– Adoption of tourniquets in non-surgical procedures like varicose vein treatment and liposuction.

Threats:
– Stringent regulatory approvals for new tourniquets pose delays in product launches.
– Threat of substitutes like advanced hemostatic technologies.

Key Takeaways (Headings remain unchanged)

The global Surgical Tourniquets Market is expected to witness high growth, exhibiting CAGR of 7.8% over the forecast period, due to increasing number of surgical procedures worldwide. The growth is supported by rising geriatric population and chronic disease burden globally.

Regional analysis:
North America currently dominates the surgical tourniquets market, accounting for over 35% of the global revenue. This is attributed to factors such as high healthcare spending, demand for advanced medical technologies, and presence of major market players. However, Asia Pacific is projected to exhibit the fastest growth during the forecast period owing to rapidly developing healthcare infrastructure and growing medical tourism industry in the region.

Key players:
Key players operating in the surgical tourniquets market include Anetic Aid, Zimmer Biomet, Stryker Corporation, Hammarplast Medical AB, Delfi Medical Innovation, Ulrich Medical, Riester, Hangzhou Keyu, Medic Instrument, Bohua Medical, Pyng Medical Corporation and Others. These players are focusing on new product launches and expansion in emerging markets to strengthen their market position.

Read More : https://makuv.com/surgical-tourniquets-product-segment-contributing-to-market-growth/

3 thoughts on “Market Is Estimated To Witness High Growth Owing To Increasing Number Of Surgeries And Technological Advancements”

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