The global Ligation Devices market is anticipated to increase at a 6.31% CAGR to reach value USD 1626.54 Million in 2030
The global ligation devices market was valued at USD 884.4 million in 2019. Increase in prevalence of chronic diseases requiring surgical treatment along with growing demand for minimally invasive surgical procedures are key factors driving the global ligation devices market.
Ligation is the surgical procedure of tying a ligature tightly around a blood vessel or other duct or tube in the body. Ligation devices are widely used in minimally invasive surgeries. Increase in prevalence of chronic diseases such as cardiovascular disorders, cancer, gastrointestinal diseases requiring surgical treatment is expected to drive the growth of the market. Moreover, rapidly growing elderly patient pool aged 60 years and above is at high risk of developing these disorders leading to increase in surgical procedures. These factors are expected to drive the demand for ligation devices in the next few years. However, high cost of ligation devices is expected to hinder the growth of the market over the forecast period.
The global ligation devices market is categorized based on product, application, procedure, end-user, and region. Based on product, accessories segment held the largest share of the market in 2019. By procedure, minimally invasive surgeries segment is anticipated to grow at a lucrative rate over the forecast period. Application-wise, gastrointestinal & abdominal surgery segment grabbed majority of the share of the global ligation devices market. Geographically, North America dominated the global ligation devices market in 2019, however, Asia Pacific is expected to be the fastest growing region by 2028.
Key players operating in the global ligation devices market include Medtronic plc, Johnson & Johnson, Teleflex Incorporated, ConMed Corporation, B. Braun Melsungen AG, Olympus Corporation, Genicon, Inc., The Cooper Companies, Applied Medical, and Grena Think Medical among others.
Ligation Devices Market Scope
|Revenue forecast in 2030
|USD 1626.54 Million
|CAGR of 6.31 % during 2020-2030
|By Product, By Application, By End-User, Region.
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Medtronic, Johnson & Johnson, The Cooper Companies, Inc., Conmed Corporation, B. Braun Melsungen AG, Teleflex Incorporated, Olympus Corporation, Applied Medical Resources Corporation.
Key Segments of the Global Ligation Devices Market
Product Overview (USD Million)
- Handheld Instruments
Application Overview (USD Million)
- Gynecological Surgery
- Gastrointestinal & Abdominal Surgery
- Urological Surgery
- Cardiovascular Surgery
Procedure Overview (USD Million)
- Open Surgery
- Minimally Invasive Surgery
End-user Overview (USD Million)
- Ambulatory Surgical Centers
Regional Overview (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Reasons for the study
- Increase in prevalence of disorders requiring surgical treatment
- Surge in demand for minimally invasive surgeries
What does the report include?
- The study on the global ligation devices market includes qualitative insights such as drivers, restraints, challenges and opportunities
- Additionally, the market has been evaluated using the Porter’s Five Forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of product, application, procedure, and end-user. Moreover, the study on ligation devices market provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players operating in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global ligation devices market is suitable for all the players across the value chain including raw material suppliers, hospitals, ambulatory surgical centers, medical device manufacturers, healthcare organizations, distributors, suppliers and technology geeks
- Venture capitalists and investors looking for more information on the future outlook of the global ligation devices market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global ligation devices market
Frequently Asked Questions (FAQ) :
Ligation devices are widely adopted for minimal invasive surgeries in laparoscopic procedures, vascular disease, gynecology, general surgery, and flexible endoscopic procedures. Increasing shift from traditional surgical procedures to minimally invasive techniques will propel growth of ligation devices market in the future. These procedures are performed through smaller incisions rather than large opening leading to lower blood loss and quick recovery of patients. Benefits associated with these less-invasive treatments such as speedy recovery, reduced hospitalization period, curtailed risk of infections and lower operative pain will positively influence market growth over the coming years. Minimally invasive surgeries also reduce the incidence of post-surgical complications thereby stimulating demand. Rapid rise in chronic disorders will lead to increased demand for minimally invasive surgical procedures. This, in turn, is expected to drive the demand for ligation devices in the future. Moreover, major industry players are also investing in R&D to develop technologically advanced products which is expected to accelerate the growth of the market in the future.
The global ligation devices market has been segmented based on product, application, procedure, end-user, and region. Based on product, the global ligation devices market is categorized into handheld instruments and accessories. Accessories segment held substantial share of the global market in 2019 owing to their wide usage in surgical procedures.
On the basis of procedure, the global ligation devices market is segmented into open surgery, and minimally invasive surgery. Minimally invasive surgery held majority of the market share in 2019 owing to advantages offered over conventional open surgeries such as quick recovery, minimum blood loss, reduced length of stay, and minimized costs.
Application-wise, the global ligation devices market is segmented into gynecology surgery, gastrointestinal & abdominal surgery, urological surgery, cardiovascular surgery, and others. On the basis of end-users, the global ligation devices market is segmented into hospitals, ambulatory centers, and others. Hospitals segment held the largest revenue share of the market in 2019 owing to large number of surgeries performed in these facilities which is expected to drive the demand for ligation devices.
The global ligation devices market is cumulative to North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America dominated the global ligation devices market in 2019, however Asia Pacific is expected to grow at a highest pace through 2028.
U.S dominated the ligation devices market in 2019 owing to surging volume of minimally invasive surgeries performed in the U.S. Presence of large geriatric patient population requiring surgical treatment will increase the surgical volume, thereby, driving the demand for ligation devices in the future. Furthermore, presence of key industry players in the region is other major factor likely to boost the growth of the market in North America.
However, Asia Pacific is expected to grow at a rapid pace over the next few years. There is a strong growth potential in the emerging economies such as India, and China. The rapidly rising geriatric population requiring surgical treatment in countries such as India and China provide large market for ligation devices. According to the United Nations, China and India together were home to over one third of the world’s population aged 60 years or over in 2017.