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A Latex Tourniquet is a tool for compressing or restricting. It is utilized to short-term restrict venous and arterial blood flow to a portion of an extremity. It is tied around a portion of the limb at a specific location so that pressure is given to the blood vessel walls. They consequently briefly restrict or halt the blood flow. This is frequently used in surgical settings to reduce blood loss and block arterial blood flow, resulting in a treatment that is largely bloodless. Tourniquets help block blood flow in emergency circumstances where there is a risk of significant blood loss, such as acute bleeding or when an artery has been severed.

The global medical tubing market is expected to grow from $9.61 billion in 2021 to $10.64 billion in 2022 at a compound annual growth rate (CAGR) of 10.70%. The medical tubing market is expected to grow to $14.94 billion in 2026 at a compound annual growth rate (CAGR) of 8.84% according to Report Linker.

In the report, FMR suggests that the price volatility of natural rubber and the demand-supply mismatch makes key stakeholders look at an alternative such as hydrogenated nitrile butadiene rubber. Moreover, the automotive industry is the largest end-user of hydrogenated nitrile butadiene rubber and is likely to remain so for the foreseeable future. The aforementioned factors are anticipated to drive the growth of the global hydrogenated nitrile butadiene rubber market during the forecast period.

The global thermoplastic elastomers market is estimated to be USD 24.7 billion in 2022 and is projected to reach USD 33.9 billion by 2027, at a CAGR of 6.5% according to Future Market Research. Thermoplastic elastomers provide the characteristics of both plastics and elastomers. There are several type of thermoplastic elastomers are available in the market such as styrenic block copolymer (SBC), thermoplastic polyurethane (TPU), thermoplastic vulcanizates (TPV), thermoplastic polyolefin (TPO), polyester ether elastomer (COPE), and polyether block amide elastomer (PEBA), which are differentiated on the basis of price and performance. The properties such as easy moldability, heat stability, smoothness, wear resistance, and scratch resistance are widely used to provide the several properties in end-use industries.

The latest published report by Fact.MR, a market research and competitive intelligence provider, reveals that the global polyurethane market currently holds a valuation of US$ 83.1 billion, and is slated to expand 2X to reach a valuation of US$ 162.3 billion by the end of 2032