Albany, NY -- (SBWIRE) -- 03/07/2018 -- Tourniquets have popularly been used in orthopedic and plastic surgeries related to the limb. Their use among clinicians is driven by the adoption of potentially efficacious blood occlusion technologies in clinical practices. The rising prevalence of severe limb injuries, fueled by the rising number of road accidents in various developing regions, is a prominent factor fortifying the demand for tourniquets. The market is also benefitting from substantial governmental spending on healthcare focusing on emergency care systems in several emerging economies and the presence of a robust healthcare in developed countries.
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Furthermore, constant technological advances, notably in reusable tourniquets, is expected to accentuate the overall market. Moreover, the advent of safe and highly functional systems that also offer automatic controls, even in inclement weather conditions, is expected to fuel the growth of the market.
The global tourniquet market was worth US$184.6 million in 2014 and is prognosticated to reach a valuation of US$408.6 million by 2023 end. During the forecast period of 2015–2023, the global market is projected to rise at a handsome CAGR of 9.3%.
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Demand for Disposable Tourniquet Cuffs to Rise at Dominant Pace, Reusable Ones Still High On Popularity
The key product types comprise tourniquet system and tourniquet cuffs; the latter is further bifurcated into disposable and reusable ones. Of the two tourniquet cuffs, reusable ones have been enjoying wide popularity, attributed to their durability, use on multiple patients after disinfection, and cost-effectiveness. The segment is anticipated to expand at a CAGR of 9.1% during 2015–2023. Various concerns of infection and complications from the improper use of reusable tourniquets have gained worrying proportions in recent times. These are being addressed by constant industry efforts by framing better and clearer clinical guidelines.
Meanwhile, the disposable tourniquet cuffs is expected to emerge as an attractive pace, garnering the leading CAGR of 9.9% over the assessment period. The market for tourniquet systems is estimated to reach a worth of US$240.2 million by 2023 end.
Based on application, the market is segmented into arm cuffs and leg cuffs. The key end users comprise hospitals, physician/clinicians, and non-institutional.
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Asia Pacific to present Potentially Attractive Growth Prospects in Coming Years
Geographically, the global tourniquet market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Of all the segments, North America led the pack with a major share of 53.5% in 2014. The dominance of the regional market can be attributed to the substantial uptake in the healthcare system in treating traumatic orthopedic injuries. A massive rise in road accidents in various parts of the region in the recent years is a key factor accentuating the demand. Furthermore, relentless efforts by governments in key countries in the region to create awareness about the safe use of tourniquet systems. In addition, the advent of technologically-advanced tourniquet cuffs and their efficacy as a first-line therapy in controlling hemorrhage has also catalyzed the growth of the regional market.
This is trailed by Europe and the regional market accounted for the global share of 18.4% in 2014. The presence of a robust emergency healthcare infrastructure in the region is a noteworthy factor fueling the growth.
However, Asia Pacific (APAC) is likely to account for highly lucrative avenues over the forecast period. A burgeoning middle class population, coupled with the vastly rising spending capacity, is a notable factor bolstering the demand for advanced trauma care for limb surgeries. This in turn is opening up promising prospects in this regional market and is projected to rise at a CAGR of 9.9% over the forecast period. The substantially rising number of hospitals and laboratory settings is also expected to accentuate the regional market. In addition, the entry of several big medical device manufacturers in the region in recent years has created lucrative avenues. Furthermore, the adoption of modern blood occlusion technologies in traumatic centers in various emerging economies also augurs well for the regional market.