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Technavio’s market research report predicts that the global tourniquets device market will grow at a CAGR of nearly 9% during the forecast period. The growing demand for tourniquets in military applications is one of the primary drivers of market growth. It has been observed that exsanguination is the main reason for the death of wounded warfighters and the governments are taking initiatives to bring in new tourniquets to lower the death rates in military operations. The US Army introduced a junctional tourniquet with more advantages than a traditional tourniquet. Such a rise in initiatives from governments regulating the use of tourniquets will fuel the growth of the market over the next four years.
In terms of geography, the Americas led the global tourniquets device market during 2016 and is expected to continue the domination during the forecast period. The rising number of road accidents, an increase in emergency applications in the military during surgeries and growing occurrences of intestinal-related disorders drive the demand for tourniquets in this region.
The global tourniquets device manufacturers develop and bring in innovative products to offer and increase patient satisfaction. Largely dominated by Tier 1 players, the market competition is significantly rising between Tier 1, Tier 2 and Tier 3 and the large players are losing their shares to developing and local players. Technology enhancements and product improvements will raise the competition among tourniquet manufacturers in the medical tourniquets market and global players will start adopting innovative technologies to improve the product offerings and lower the market competition.
During 2016, the pneumatic tourniquets market led the product type segment and is expected to continue the lead over the next four years. Factors like increase in orthopedic surgeries, road accidents, and sports-related injuries drive the growth of the market. Furthermore, lesser infection-associated issues, M&A activities, and training programs for the utilization of tourniquets also accelerate market growth.
As per Technavio’s market research report, hospitals dominated the end-user segment in the global tourniquets device market during 2016. The main contributor to the segment’s growth is the investment for surgeries using tourniquets as supportive devices in hospitals. This will lead to the growth of medical tourniquets market.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product type
PART 07: Market segmentation by end-user
PART 08: Geographical segmentation
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
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