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Surgical Tourniquets Market Worth $509 Million by 2024 - Exclusive Report by MarketsandMarkets™
CHICAGO, May 23, 2019 /PRNewswire/ -- According to the new market research report "Surgical Tourniquets Market by Type (Tourniquets Systems, Tourniquet Cuffs, Tourniquets Accessories), Applications, End User (Hospitals and Trauma Centers, Ambulatory Surgery Centers, Military) - Global Forecast to 2024", published by MarketsandMarkets™, the Surgical Tourniquets Market is projected to grow at a CAGR of 8.0% during the forecast period to reach USD 509 million by 2024 from USD 347 million in 2019.
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Factors such as the increasing incidence of road accidents and falls, rising geriatric population, and the growing number of joint replacement surgeries are driving the growth of the Surgical Tourniquets Market during the forecast period.
Tourniquets systems is expected to be the most widely used type of the Surgical Tourniquets Market
The tourniquets systems segment accounted for the largest market share in 2019. This is primarily due to the increasing use of tourniquets system during orthopedic surgeries. In 2018, the US accounted for the largest share of the surgical tourniquet systems market. This is mainly due to the increasing number of joint replacement surgeries in the US. According to the American Joint Replacement Registry (AJRR), 860,080 hip and knee replacement procedures were performed in the US in 2017. This number is expected to reach 3.48 million procedures per year by 2030.
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Lower-limb surgery segment is expected to account for the largest share of the Surgical Tourniquets Market application
The lower-limb surgery segment accounted for the largest share in 2019. This is primarily due to the increasing number of hip & knee replacement surgeries. For instance, as per an article published in Orthopaedic Proceedings Journal (Tourniquet Use for Total Knee Replacement Surgery, February 2018), surgical tourniquets are routinely used by 93% of the surgeons. They are also used in hip replacement procedures and abdominal surgeries.
Hospitals and trauma centers segment dominated the Surgical Tourniquets Market, by end user, in 2019
Hospitals and trauma centers are the major end users of surgical tourniquet products. The hospitals and trauma centers segment accounted for the largest share of the Surgical Tourniquets Market in 2018. The growing need for joint replacement surgeries and rapid growth in the geriatric population across the globe are some of the key factors driving the growth of the hospitals and trauma centers segment.
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North America to dominate the Surgical Tourniquets Market during the forecast period
In 2018, North America dominated the Surgical Tourniquets Market, followed by Europe. The high number of road accidents, a rising number of surgical procedures, and the high & growing number of ambulatory surgery centers are the factors propelling the growth of the market in the region.
The Asia Pacific region is projected to register the highest growth rate in the global Surgical Tourniquets Market during the forecast period. Presence of a large patient population,a growing number of hospitals, and rising geriatric population are some of the key factors driving the growth of the Surgical Tourniquets Market in the Asia Pacific.
Prominent players in the Surgical Tourniquets Market are Stryker Corporation (US), Zimmer Biomet (US), ulrich medical (Germany), Hammarplast Medical (Sweden), Delfi Medical Innovations (Canada), VBM Medizintechnik (Germany), Pyng Medical (Canada), Zhangjiagang Huaxin Medical Equipment Factory (China), OHK Medical Devices (Israel), Daesung Maref (Korea), Hangzhou Zhengda Medical Co. (China), Dessillons & Dutrillaux (France), and AneticAid (UK).
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