Tourniquet Systems Market to hit USD 940 million by 2032, says Global Market Insights Inc.
Tourniquet Systems Industry is projected to witness a CAGR of 8% during the period 2023-2032. This growth can be attributed to the rising number of joint replacement surgeries.
Selbyville, Delaware, Aug. 13, 2023 (GLOBE NEWSWIRE) --
Tourniquet Systems Market size will cross USD 940 million by 2032. A favorable regulatory framework and extending government support toward the medical device sector will pave the way for industry expansion. Many governments across developing and developed economies are making significant investments in the medical device industry to strengthen their healthcare infrastructure.
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High availability of advanced tourniquet instruments to favor product uptake
The tourniquet systems market share form tourniquet Instruments will grow at a notable CAGR from 2023 to 2032, driven by rapid advancements in tourniquet technology. Modern tourniquets are often designed for ease of use, portability, and effectiveness in controlling bleeding. They may incorporate features such as quick-release mechanisms, self-locking mechanisms, or intuitive application methods, making them more user-friendly and accessible.
Rapid uptick in upper-limb surgeries to support product adoption
The tourniquet systems market value from the upper limb segment will register substantial gains through 2032. A noticeable surge in upper-limb surgeries will increase the demand for tourniquet systems. In an upper limp surgery, these systems provide a clean yet bloodless surgical field, to improve the visualization of anatomical structures and prevent iatrogenic failure. They occlude the blood flow to the limbs and reduce the perioperative blood loss.
ASCs to emerge as a prominent end-user
The tourniquet systems market size from the ambulatory surgical centers (ASCs) segment will witness appreciable progression through 2032. ASCs are generally more cost-effective than hospital-based settings for outpatient surgeries. They have lower facility fees and overhead costs, which can result in reduced expenses for both patients and insurers. The streamlined operations of ASCs allow for efficient use of resources, potentially leading to more affordable healthcare services.
Asia Pacific to dominate the regional landscape
Asia Pacific tourniquet systems market share will exhibit a decent growth rate from 2023 to 2032. Increasing number of surgical procedures, especially in the orthopedic and vascular segments, has fueled the demand for tourniquet systems in the region. Moreover, the regional development can also be ascribed to expanding healthcare infrastructure. According to IBEF, the Indian medical device sector will reach over USD 50 billion by 2025. The regional government is investing heavily in medical device infrastructure.