The global latex tourniquet market size was significantly robust in 2022 and is expected to register a steady revenue CAGR over the forecast period. Key factors providing impetus to market revenue growth are rising number of injuries and accidents where tourniquets are used for treatment purposes. During emergency situations, where there is a risk of massive blood loss such as severe bleeding or when an artery has been cut, tourniquets aid in stopping blood flow.
Latex tourniquet is a reusable medical device. A latex tourniquet is a constricting or compressing device. It is used to temporarily control arterial and venous blood flow to a section of an extremity. It is tied around a section of limb at a chosen spot such that the pressure is applied to the walls of blood arteries. This causes them to temporarily block or limit the blood flow. This is widely used in surgical settings to minimise the blood loss and to obstruct arterial blood flow to provide a reasonably bloodless operative procedure. During emergency situations, where there is a risk of massive blood loss such as severe bleeding or when an artery has been cut, tourniquets aid in stopping blood flow. Patients who have lost too much blood and need to temporarily stop the flow utilises tourniquets in general medical settings while treating patients. Presence of large patient pool, increasing adoption in various end-use verticals such as military and healthcare, and rapid urbanization are factors expected to drive market growth.
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Major Factors Driving Growth Of The Global Latex Tourniquet Market:
Revenue growth of the global latex tourniquet market is significantly driven by increasing demand for latex tourniquets from military sector and supportive government initiatives to boost manufacturing of product globally. Technological advancements, rising prevalence of intestinal-related ailments, high investments in R&D by companies to develop advanced products, rapid industrialization, and presence of key players around the world are other factors expected to drive market revenue growth during the forecast period.
Factors Restraining Growth Of The Global Latex Tourniquet Market:
The global latex tourniquet market growth is substantially hampered by several unfavorable factors. Adverse effects of using tourniquet include pain, hyperemia and hyperthermia are one of the major factors expected to negatively impact market revenue growth over the forecast period. Besides, lower penetration in underdeveloped regions is another factor causing a slow-down in market growth to a certain extent going ahead.
Opportunities For Players Operating In The Global Latex Tourniquet Market:
Increasing demand in military applications, rising investments in research and development activities, technological improvements such as sterile disposable tourniquets are some key factors expected to continue to open up lucrative business opportunities for major players and new entrants in the market. Furthermore, supportive government initiatives and increasing incidence of intestinal-related ailments are other factors expected to continue to support market growth going ahead.
Global Latex Tourniquet Market Leading Product Type Segment:
Based on product type, the emergency tourniquet segment expected to dominate all other segments in terms of revenue generation over the forecast period. Major factors contributing to this segment’s growth are increasing demand for tourniquets to avoid blood loss in military operations and rising awareness regarding safety measures against terrorist attacks are some major factors expected to boost growth of this segment during the forecast period.
Global Latex Tourniquet Market Leading Application Segment:
Based on application, the pneumatic segment is expected to reach the highest revenue share over the forecast period. Pneumatic tourniquets are used during surgeries to create a bloodless surgical field in a section of a limb for a length of time long enough for a surgical procedure to be performed safely. Automatic tourniquet devices with microcomputer control and improved pneumatic cuff designs have considerably reduced reported severity and quantity of tourniquet-related dangers and injuries. Ability of pneumatic tourniquets to deliver a consistent pressure that can be easily adjusted and squeezed regardless of position is another factor expected to drive demand for this segment going ahead.
North America Accounts For Largest Revenue Share In Global Latex Tourniquet Market:
Among regional markets, North America emerged as the largest market for latex tourniquets in 2020, with the highest revenue share. Revenue growth in the North America market is mainly attributed to rising incidence of road accidents and increasing number of intestinal-related ailments in countries such as United States. In addition, increasing adoption in emergency applications such as surgeries is another major factor that is expected to positively impact market revenue growth in the region.
Asia Pacific Continues To Lead In Terms Of Revenue CAGR:
The Asia Pacific latex tourniquet market is expected to register the fastest growth in CAGR over the forecast period. Presence of large target population in countries such as India, China and Japan is one of the major factors driving the APAC market growth. In addition, increasing incidence of accidents and injuries that requires tourniquet, rising awareness regarding safety measures against terrorist attacks, and technological advancements are other factors expected to drive market growth in this region.
Major Companies Profiled In The Report:
- Yancheng Senolo Medical
- Tetra Medical Supply Corporation
- Cardinal Health
- Xingtong Biotechnology
- JSYH Medical
- Avcor Health Care
- Fisher Scientific
- Paul Hartmann
Strategies And Objectives Of Major Companies:
- In June 2021, Caresfield, LLC, a leading United States-based healthcare consumable products manufacturer as well as distributor, introduced a patent-pending design of single-use tourniquets, Versaquet Multi-Texture Disposable Tourniquet. The company reports that the product is designed with one side textured and other side smoot to provide grip and is gentle on patient’s skin.
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This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2023 to 2032. The global market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.
Detailed Segmentation In Our Report:
For the purpose of this report, the global latex tourniquet market is segmented on the basis of product type, application, and region:
Type Outlook (Revenue, USD Billion; 2023-2032)
Application Outlook (Revenue, USD Billion; 2023-2032)
- Emergency Tourniquet
- General Medical Tourniquet
Region Outlook (Revenue, USD Billion; 2023-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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