The global latex tourniquet market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). A latex tourniquet is effective for stopping massive blood loss after an accident or emergency. The global latex tourniquet market is growing due to the increasing number of road accidents. According to a survey conducted by the World Health Organization in June 2021, an estimation of 1.3 million people dies each year due to road traffic crashes globally. Additionally, the growing geriatric population and the increasing number of joint replacement surgeries are driving the growth of the market. According to The Center for Orthopedic & Neurosurgical Care & Research, around 1 million hip and knee replacement surgeries are performed in the US every year and it is estimated to reach 3.5 million surgeries per year by 2030.
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The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and launches, to stay competitive in the market. For instance-
- In June 2021, Caresfield announced their Next Evolution in Disposable Phlebotomy Tourniquets with the Versaquet, a multi-texture disposable tourniquet.
- In March 2021, Safeguard announced its agreement with the US Department of Defense, to remove army restrictions on the procurement of its tactical mechanical tourniquet and medical kits containing tourniquets.
- In March 2020, Alliance Rubber Co. announced its launch of Non-Latex Tourniquets with Antimicrobial Protection, providing healthcare, laboratory, and medical facilities with shorter lead times and fresher stock from a domestic source.
Market Coverage
- The market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Thermo Fisher Scientific Inc., Stryker Corp., VBM Medizintechnik, 3M, BD, Medtronic, Zimmer Biomet, and Medline Industries, Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Latex Tourniquet Market Report by Segment
By Type
- Manual
- Pneumatic
By Application
- General Medical Tourniquets
- Emergency Tourniquets
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