The tourniquet market in recent times has been displaying a steady expansion as a result of the higher frequency of road accidents, coupled with government efforts aimed at providing healthcare facilities and infrastructure in emerging economies. By 2023, the market is projected to attain revenue equivalent to US$408.6 mn, which was estimated US$184.6 mn in 2014. A promising CAGR of 9.3% will provide significant opportunities during the forecast period 2015–2023.
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Q. What are the major drivers of the tourniquet market?
Apart from road accidents, slips, and falls, industrial accidents cause serious injuries of the limbs, leading to greater use of tourniquet cuffs. Rash driving, speeding, drinking and driving, underage driving, disregard of road safety rules, and absence of law enforcement in regards to traffic rules and regulations are some major factors leading to road accidents all over the world. Since emergency orthopedic injuries require tourniquets for the treatment of the patients, there is a direct relationship between the demand for tourniquets and the rising number of accidents.
A rise in the healthcare expenditure in countries across the world is also contributing towards the expansion of the tourniquet market.
Q. How has the concern about spread of infection affected the reusable tourniquet cuff market?
One of the major characteristics of the global tourniquet market is the increased preference for disposable cuffs over reusable ones. This trend has arisen on account of the risk of bacterial infections posed by reusable cuffs on their repetitive usage. The use of sterile, disposable tourniquet cuffs, on the other hand, guarantees more safety as they are disposed immediately after use, eliminating the possibility of passage of bacterial infection from one patient to another. Although the use of disposable tourniquet cuffs can be comparatively expensive, several regions have been adopting them.
A CAGR of 9.9% between 2015 and 2023 is expected in the market for disposable tourniquet cuffs. The market for reusable cuffs will still exhibit a CAGR of 9.1% during the given forecast period, despite its decreasing popularity.
Q. What are the recent developments in the tourniquet market on the geographic front?
The tourniquet market in North America has been dominating the scene, while Europe stands second in this market. Europe’s highly efficient emergency care infrastructure is one of the chief reasons behind its growth. It is Asia Pacific, however, that will provide a fertile ground for more opportunities between 2015 and 2023, with a CAGR of 9.9% during this period. This development arises due to an increase in the number of laboratory settings and hospitals, rising demand for technologically advanced trauma care products, large population base, and high level of competition between medical device manufacturing companies in emerging economies.