Tourniquet Devices Market Forecasts upto 2024
- November, 2018
- Domain: Healthcare - Medical Devices
- Get Free 10% Customization in this Report
[81 Report Pages] This market research report identifies Zimmer Biomet, Stryker, Delfi Medical Innovation, Ulrich GmbH, and Hammarplast Medical as the major vendors operating in the global tourniquet devices market. This report also provides a detailed analysis of the global tourniquet devices market by product type (tourniquet systems and tourniquet cuffs), application (arm cuffs and leg cuffs), end-users (hospitals, ASC, diagnostic centers, and others), and region (North America, Europe, Asia Pacific, and Rest of the World).
Overview of the Tourniquet Devices Market
Infoholic’s market research report predicts that the global tourniquet devices market will grow at a CAGR of 7.9% during the forecast period 2018–2024. Factors such as rise in aging population, increase incidence of chronic diseases, introduction of pneumatic tourniquets with high operability and safety, and increase in number of accidents, injuries, and emergencies are expected to drive the impact on growth of tourniquets leading to high demand of advanced tourniquets devices, which in turn, boosts the growth of the global tourniquet devices market.
According to the tourniquet devices market analysis, in North America, the US and Canada are the leading countries owing to the highest number of surgical cases in 2017. This region dominates the overall presence of tourniquet and has the most diversified tourniquet available in the market. It has the highest percentage of elderly population with many individuals with chronic diseases such as CVD, diabetes, obesity, high blood pressure, and other urology related factors. This has attracted most of the vendors to sustain and grow over the period and maintain their product presence in the market.
Europe is the second leading region and held more than 29% of the market share in 2017. The market in Europe was largely driven by advances in medical devices technologies. Factors such as increase in the prevalence of diseases, continuous adoption of advanced technologies, and increasing aging population are driving the market. The leading countries are Germany, France, UK, and Italy to the market.
The APAC region was the fastest growing region in the global tourniquet market in 2017.
Competitive Analysis and Key Vendors
The market is witnessing a lucrative growth in developing countries and is expected to see an increase in volume sales during the forecast period. The sales of tourniquets will further increase through physician-owned orthopedic devices distributorships, hospitals, ASCs, emergency settings, and clinics. Most of the consumers focus on procuring a wide range of tourniquet systems and cuffs that are innovative and have advanced solutions. They focus in bundling payment model that helps to buy product at lower price. This model allows companies to partner with physicians, who obtain tourniquets from manufacturers at a low price when compared to their market price. This helps companies in saving costs by eliminating the concept of direct sales force. However, surgical procedures can cause complications such as delayed union, implant migration, and risk of infections. In addition, some faulty systems can further deteriorate the impact of the disorder in people.
The global tourniquet market has immense growth opportunities in both developed and developing regions. The market in the developed countries is witnessing an increased adoption of tourniquet for high quality, safety, and efficacy due to improved access and availability in healthcare institutions.
The market in the developed countries is witnessing an increased adoption of tourniquet at different medical situations. Vendors are focusing in developing tourniquet to overcome the problem of bleeding and save one’s life during trauma, accidents, injuries, natural disasters, battlefield etc. Advances in technology and product upgradation will increase the competition among vendors. Many vendors are focusing on developing advanced technological tourniquets to upgrade their product portfolio that intensifies the market competition. Manufacturers have formulated various strategies for developing innovative tourniquets that are able to compete in the market.
Upgradation and providing safety with ease of use has remained one of the major focus of competitors. The market is highly dynamic with the presence of big medical device players and most of the giant players in the market may anytime collaborate or acquire small companies for expanding their product portfolio.
Tourniquet Devices Market Key competitive facts:
- The market is highly competitive with all the players competing to gain market shares. Intense competition, rapid advancements in technology, frequent changes in government policies, and the prices are key factors that confront the market.
- Manufacturers have formulated various strategies for developing innovative tourniquets that are able to compete in the market.
Some of the Tourniquet Devices Market key vendors are:
- Zimmer Biomet
- Delfi Medical Innovation
- Ulrich GmbH
- Hammarplast Medical
Tourniquet Devices Market by Products
- Tourniquet systems
- Tourniquet cuffs
In 2017, the tourniquet cuffs occupied the largest share and is expected to grow at a high CAGR during the forecast period because of the demand of minimally invasive surgical procedures and sudden increase in the volume of diagnosis and treatment in developed and developing countries.
Tourniquet Devices Market by Applications
- Arm cuffs
- Leg cuffs
In 2017, the leg cuffs occupied the largest share and is expected to grow at a high CAGR during the forecast period.
Tourniquet Devices Market by End-users
- Ambulatory Surgical Centers
- Diagnostics Centers
In 2017, the hospitals occupied the largest share and is expected to continue the same trend during the forecast period.
The report provides detailed information about the usage and adoption of tourniquet devices in various applications and regions. With that, key stakeholders can know out the major trends, drivers, investments, vertical player’s initiatives, and government initiatives toward the medical devices industry in the upcoming years, along with the details of commercial products and pureplay vendors in the market. Moreover, the report provides details about the major challenges that are going to have an impact on market growth. Additionally, the report gives complete details about the business opportunities to key stakeholders to expand their business and capture revenues in the specific verticals. The report will help companies interested or established in this market to analyze the various aspects of this domain before investing or expanding their business in the tourniquet devices market.
1 Industry Outlook
1.1 Medical Devices Industry
1.1.3 Medical technologies
1.2 Definition: Tourniquet
1.2.2 Why Tourniquet?
1.2.3 Principles of Tourniquet Application
1.3 Industry Trends
1.4 Healthcare Spending in the US
1.5 Regulatory Bodies & Standards
1.6 Emerging Global Markets
1.7 PESTLE Analysis
2 Report Outline
2.1 Report Scope
2.2 Report Summary
2.3 Research Methodology
2.4 Report Assumptions
3 Market Snapshot
3.1 Total Addressable Market (TAM)
3.2 Segmented Addressable Market (SAM)
3.3 Related Markets
3.3.1 Surgical Staplers
3.3.2 Wound Care
3.3.3 Surgical Sealants and Adhesives
3.3.4 Surgical Sutures
3.4 Porter 5 (Five) Forces
4 Market Characteristics
4.1 Market Segmentation
4.1.1 Tourniquet Systems
4.1.2 Tourniquet Cuffs
4.2 Tourniquet Market, By Application
4.2.1 Arm cuffs
4.2.2 Leg cuffs
4.3 Market Dynamics
184.108.40.206 Increase number of orthopedic disorders
220.127.116.11 Increase focus in improving the quality of care in surgical patients
18.104.22.168 Increase number of road accidents
22.214.171.124 Risk associated with tourniquet
126.96.36.199 Intense competition among vendors
188.8.131.52 Lack of skilled healthcare professionals
184.108.40.206 Alternative to tourniquet
220.127.116.11 Technological advancement
18.104.22.168 Growing popularity of MI surgeries
22.214.171.124 Increased healthcare spending
4.3.4 DRO – Impact Analysis
4.4 Key Stakeholders
5 Industry Trends
5.1 Market Trends & Impact
6.3 Ambulatory Care
6.3.1 ASCs in the Americas
6.3.2 ASCs in EMEA
6.3.3 ASCs in APAC
6.4 Trauma Centers
6.5 Others (Clinics and Nursing Home)
7.1.1 North America
126.96.36.199 Market overview
188.8.131.52 Market overview
184.108.40.206 Market overview
7.1.4 Rest of the World
220.127.116.11 Market overview
8 Competitive Landscape
8.1 Competitor Comparison Analysis
9 Vendor Profiles
9.1 Zimmer Biomet
9.1.2 Business Units
9.1.3 Geographic Revenue
9.1.4 Business Focus
9.1.5 SWOT Analysis
9.1.6 Business Strategy
9.2.2 Business Units
9.2.3 Geographic Presence
9.2.4 Business Focus
9.2.5 SWOT Analysis
9.2.6 Business Strategies
9.3 Delfi Medical Innovations Inc.
9.3.2 Business Focus
9.3.3 SWOT Analysis
9.3.4 Business Strategies
9.4 Ulrich GmbH & Co. KG
9.4.2 Business Unit
9.4.3 Business Focus
9.4.4 SWOT Analysis
9.4.5 Business Strategy
9.5 Hammarplast Medical AB
9.5.2 Key highlights
9.5.3 Business Focus
9.5.4 SWOT Analysis
9.5.5 Business Strategy
10 Companies to Watch for
10.1 VBM Medizintechnik GmbH
10.1.2 VBM Medizintechnik GmbH: Key Highlights
10.1.3 VBM Medizintechnik GmbH: Key News
10.2 Rudolf Riester GmbH
10.2.2 Rudolf Riester GmbH: Key Highlights
10.3 Pyng Medical Corporation
10.3.2 Pyng Medical Corporation: Key Highlights
10.4 Anetic Aid
10.4.2 Anetic Aid: Key Highlights
11 Other Vendors
TABLE 1 CLASSIFICATIONS OF MEDICAL DEVICES 22
TABLE 2 GLOBAL TOURNIQUET MARKET BY END-USERS 46
TABLE 3 GLOBAL TOURNIQUET REVENUE BY REGIONS FORECAST, 2018–2024 ($MILLION) 48
TABLE 4 ZIMMER BIOMET HOLDINGS, INC: PRODUCT OFFERINGS 56
TABLE 5 ZIMMER BIOMET HOLDING, INC: RECENT DEVELOPMENTS 56
TABLE 1 STRYKER: PRODUCT OFFERINGS 61
TABLE 2 STRYKER: RECENT DEVELOPMENTS 61
TABLE 3 DELFI MEDICAL INNOVATION INC.: RECENT DEVELOPMENTS 67
TABLE 6 ULRICH GMBH & CO. KG: OFFERINGS 69
TABLE 7 ULRICH GMBH & CO. KG: RECENT DEVELOPMENTS 70
TABLE 8 HAMMARPLAST MEDICAL AB: OFFERINGS 73
TABLE 9 SNAPSHOT OF VBM MEDIZINTECHNIK GMBH 75
TABLE 10 SNAPSHOT OF RUDOLF RIESTER GMBH 76
TABLE 11 SNAPSHOT OF PYNG MEDICAL CORPORATION 76
TABLE 12 SNAPSHOT OF ANETIC AID 77
Infoholic Research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:
- Data Collation (Primary & Secondary)
- In-house Estimation (Based on proprietary data bases and Models)
- Market Triangulation
Market related information is congregated from both primary and secondary sources.
Involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.
Include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.