LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global tourniquets device market report. This research report also lists 27 other prominent vendors that are expected to impact the market during the forecast period.
A tourniquet is a compressing device used to control or reduce bleeding during extremity conditions such as road accidents and surgeries. Tourniquets are classified into two types based on product type –– pneumatic tourniquets, which represent 73% of the overall tourniquets market, followed by non-pneumatic tourniquets with a 27% share. The global tourniquets market is growing at a CAGR of almost 9%.
Competitive vendor landscape
Manufacturers develop and introduce innovative products to provide and increase patient satisfaction. Global players adopt advanced technologies to enhance their product portfolios and decrease competition from new players. The global tourniquets device market is dominated primarily by Tier 1 players, and these companies have stronger positions compared with Tier 2/3 vendors.
“The competition between Tier 1, Tier 2, and Tier 3 companies is gradually increasing, and big players are losing their shares to emerging and local players. The advances in technology and product upgrading will increase the competition among vendors,” says Barath Palada, a lead cardiovascular devices research analyst from Technavio.
Established companies as well as emerging ones are increasingly focusing on launching advanced products to expand their market share. For instance, in March 2015, Pyng Medical launched the MATResponder Elite, a new tourniquet that provides the highest levels of safety and reliability for first responders when transporting patients in high-risk environments and confined spaces.
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Top five tourniquets device market vendors
Stryker is a medical technology company that offers surgical equipment and surgical navigation systems, trauma surgeries, endoscopic and communications systems, implants used in joint replacement and neurosurgical procedures, and other medical devices. The company is offering tourniquets through its Medical and Surgical (MedSurg) division. The Medsurg division accounts for 39% of the total revenue of the market.
Zimmer Biomet manufactures and markets biologics, dental implants, surgical products, and orthopedic, reconstructive, spinal, and trauma devices. The company offers tourniquets through the Surgical, Sports Medicine, Extremities, and Trauma categories. The company’s Automatic Tourniquet System (ATS) is generating major revenue for this segment.
ulrich medical is a German-based company involved in the development of customer-oriented innovative products focused on practical, professional, and medical needs. The company is offering spinal implant systems, contrast media injectors for computer tomography and MRI, tourniquets, foot surgery devices, and other surgical instruments. The company is also focusing on the development of advanced products to gain a major revenue share.
VBM Medizintechnik is engaged in the development of innovative products in the area of airway management, intensive care unit accessories, anesthesia accessories, and tourniquets for surgical procedures in the bloodless field. The company has a wide distribution network for its products and also has sales offices in the US, Czech Republic, and France.
Delfi Medical is engaged in the development of personalized tourniquet products. It is focusing on the design of products to meet the needs of general and specialty patient groups, surgeons, operating room nurses, and pre-hospital medics. The company is offering the PTS ii portable tourniquet system, adult contour tourniquet cuffs, emergency and military tourniquets, and pediatric tourniquet cuffs.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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