Research Nester released a report titled “Tourniquet Devices Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global tourniquet devices market in terms of market segmentation by product type, by application, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Tourniquet devices are used for constricting the blood flow for a short period of time during the cases of emergency or surgical procedures. They work by compressing the blood vessels and minimizing the flow of blood in that area. They are also used in cases of emergency such as road accidents in order to prevent excessive blood loss. Additionally, they are used for rehabilitation purposes to control the blood pressure during exercise and physical therapy.
The tourniquet devices market is anticipated to grow at a CAGR of around 8% with a significant increase in the market size during the forecast period, i.e., 2019-2027. The market is segmented by product type, by application, by end user and by region. It is further bifurcated on the basis of end user into hospitals, clinics, ambulatory surgical centers and others, out of which, the hospitals segment is estimated to grow at the highest rate on account of increasing number of health disorders and injuries among people.
The market in North America is anticipated to hold highest market share in the global tourniquet devices market on account of high prevalence of chronic health disorders, especially among the elderly population which is another factor increasing the demand for these devices in the region, mainly in countries such as the U.S. and Canada. Tourniquet devices market in Europe is also growing at a high rate and is estimated to hold a significant share in the market as a result of growing technological advancements in the region.
Rising Accident-Related Injuries Estimated To Boost The Market Growth
The demand for tourniquet devices is growing substantially as a result of increasing incidences of accidents across the world. According to W.H.O., around 1.4 million people were killed due to road accidents in 2016, three-fourth of whom were men and boys. Emergency cases such as these require tourniquets in order to avoid major blood loss. This is a major growth driver in the tourniquet devices market.
Overcoming The Barriers in Tourniquet Devices Market
The key restraint of the tourniquet devices market includes the high risk of damage to the blood vessels due to excessive pressure applied by the tourniquet devices. This might cause permanent damage to the limbs and other organs of the body. The tourniquet device should be developed according to standard safety procedures to prevent any such health risk and ensure a risk-free usage.
This report also provides the existing competitive scenario of some of the key players of the global tourniquet devices market which includes company profiling of Delfi Medical, Hammarplast Medical AB, Stryker, Ulrich Medical, Zimmer Biomet, VBM Medizintechnik GmbH, RevMedx, Pyng Medical, Rudolf Riester GmbH, AneticAid. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global tourniquet devices market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.