February 21, 2024

Surgical Tourniquets Market Growth Set To Surge Significantly During 2023-2032

The global 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 device used for the restriction blood flow to the limb during surgery through compression of arteries and blood vessels. Surgical tourniquets are widely used in orthopedic surgeries, lower and upper extremities reconstructive surgeries, amputations and trauma care centers to prevent excessive blood loss during the surgical procedures. Surgical tourniquets helps in maintaining a bloodless operative field, improving visibility at the surgical site and enhancing the quality of care during major orthopedic trauma or reconstruction surgeries. Additionally, surgical tourniquets reduces surgical time and saves blood loss allowing for a better recovery with minimal complications.

Market key trends:

One of the key trends in the surgical tourniquets market is the growing adoption of single-use tourniquets. Single-use tourniquets helps in preventing infection risks associated with reusable tourniquets. Moreover, single-use tourniquets are cost-effective, require minimal maintenance and sterilization. Manufacturers are focusing on developing advanced single-use tourniquets made of latex-free and biocompatible materials to increase their adoption. Additionally, increasing number of orthopedic and limb reconstruction surgeries are expected to drive the demand for surgical tourniquets during the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the surgical tourniquets market is low due to high capital requirements and well established industry players.

Bargaining power of buyers: The bargaining power of buyers is moderate as the number of buyers is large in this industry. However, the switching costs are low.

Bargaining power of suppliers: The bargaining power of suppliers is low as there are many suppliers for raw materials in the surgical tourniquets market.

Threat of new substitutes: There is a low threat from substitutes as there are limited alternatives to surgical tourniquets.

Competitive rivalry: The competitive rivalry in the surgical tourniquets market is high due to the presence of few major competitors.

Key Takeaways

The global Surgical Tourniquets Market is expected to witness high growth, exhibiting CAGR of 7.8% over the forecast period of 2023-2032, due to increasing number of surgical procedures. North America is expected to dominate the global market during the forecast period owing to increasing healthcare expenditure and high rate of surgical procedures in the region.

The global surgical tourniquets market size was valued at USD 481.0 Mn in 2022. Regional analysis indicates that North America will continue to hold a major share of the global surgical tourniquets market during the forecast period due to growing geriatric population and greater acceptance of advanced surgical tourniquets.

Key players operating in the surgical tourniquets market are 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. Key players are focusing on new product launches and geographical expansion to remain competitive in the market.

*Note:

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