World News: 17:06 GMT Thursday 30th May 2019. [Research and Markets via Globe Newswire via SPi World News]
Dublin, May 30, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering. The surgical tourniquets market is expected to reach USD 509.5 million by 2024 from an estimated USD 346.8 million in 2019, at a CAGR of 8.0% during the forecast period.
Surgical tourniquets are mechanical devices used to temporarily control blood circulation during surgeries of the extremities, creating a bloodless field of vision for surgeons. The growth of this market is primarily driven by the increasing incidence of road accidents and falls, rising geriatric population, and the increasing number of joint replacement surgeries. Also, emerging markets such as China and India are expected to offer potential growth opportunities to market players in the coming years.
North America is expected to account for the largest share of the global surgical tourniquets market in 2019, followed by Europe. However, the APAC region is expected to witness the highest CAGR during the forecast period. This can primarily be attributed to the presence of a large patient population, a growing number of hospitals, rising geriatric population, and increasing healthcare spending in this region. The favorable reimbursement scenario in Japan and the rising geriatric population in China are the factors that contribute to the growth of the market in this region. Furthermore, improving healthcare infrastructure, growing middle-class population, and rising disposable income levels in India are also some of the key factors driving the growth of the APAC region.
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Related Topics: Medical Devices
Globe Newswire: 17:06 GMT Thursday 30th May 2019
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