Ligation Device Market Share, Size, Growth Opportunities, Trends Analysis & Global Industry Forecast Report, 2023-2030
GMI Research analysis indicates that the Ligation Devices Market size was estimated at USD 1.3 billion in 2022 and is slated to register a single digit CAGR of 6.4% over the forecast period, and is projected to reach USD 2.1 billion in 2030
Ligation Devices Market Overview
Ligation is a surgical approach of tying a ligature around a duct, tube or blood vessel in the body. Endoscopic ligation is an effective technique for the treatment of protuberant lesions and is widely applied in the management of bleeding esophageal, angiodysplasia, and gastric varices. It is a feasible technique for removing upper gastrointestinal lesions. It also minimizes the risk of related complications, like perforation and hemorrhage.
To have an edge over the competition by knowing the market dynamics and current trends of “Ligation Devices Market”, request for Sample Report here
Major Ligation Devices Market Drivers
The factors driving the global Ligation Devices market include the increasing prevalence of diseases requiring surgical treatment, especially minimally invasive surgery (MIS). Moreover, factors such as several government initiatives and increasing healthcare spending for the treatment of digestive system-related diseases are also predicted to propel market growth. In 2015, esophageal disorder (USD 18.1 billion), Hepatitis (USD 23.3 billion), abdominal pain (USD 10.2 billion) and biliary tract diseases (USD 10.3 million) were the most expensive categories of healthcare expenditures in the U.S. There are more than 40.7 million ambulatory visits for Gastrointestinal disorders in the U.S each year. In 2017, the National Institute of Health (NIH) funded USD 1.8 billion for research and development activities in digestive diseases in the country. The geriatric population is accounted to be more prone to digestive disorders and chronic conditions. The increase in the global geriatric population is expected to create a high impact on the Ligation Devicess market. Additionally, the high adoption rate of minimally invasive surgeries, especially for geriatric patients, is expected to boost market growth. In 2015, according to the National Institutes of Health (NIH), there were 617 million people above the age of 65 years, that is 8.5% of the total population. The number is projected to reach 1.6 billion by 2050. The above-mentioned factors are responsible for driving market growth during the forecast period.
Restraint in the Ligation Devices Market
However, the high cost of Ligation Devicess is a major restraint that is hampering the Ligation Devices market growth.
Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report
Product – Segment Analysis
Based on the Product, the Accessories segment is expected to grow at a higher CAGR during the forecast period. The growing gastrointestinal and abdominal procedures, rising trend of minimally invasive surgeries(MIS) are the major factors for the segment growth. MIS procedures have captured widespread clinical recognition due to their advantages over open surgeries, like fewer incisions, a smaller number of postoperative complexities, faster recovery, fewer blood loss and scars, and greater patient outcomes. The rising awareness as regards the advantages of minimally invasive surgeries over open surgery is also expected to drive market growth. In 2017, according to the American College of Cardiology, Cardiovascular disease accounted for the 800,000 deaths in the U.S., as the incidence of diseases that require surgeries increases around the world, the market will witness significant growth.
Application – Segment Analysis
Based on the Application, the Gastrointestinal & Abdominal Surgeries segment is expected to grow at a higher CAGR during the forecast period. The high Ligation Devices market size is mainly attributed to the rising prevalence of age-related diseases combined with the growing demand for Ligation Devicess in the therapeutic and diagnostic of gastrointestinal procedures. Moreover, factors like an increase in the cases of cardiovascular diseases are aiding in propelling the Ligation Devices market share. Additionally, with technological developments in cardiovascular robotic surgery, the demand for Ligation Devicess is predicted to increase.
In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here
Regional – Segment Analysis:
Based on the region, the North-America region is projected to dominate the market during the forecast period. The Ligation Devicess market in the region is driven by the rise in the prevalence of urological diseases like chronic kidney diseases and cardiovascular diseases. In 2017, according to the National Center for Chronic Diseases Prevention and Health Promotion, the U.S. had 30 million citizens suffering from chronic kidney diseases. The other factors propelling the market growth are the presence of key players and developed healthcare infrastructure. Furthermore, beneficial government initiatives and a growing number of research partnerships are some of the drivers expected to increase market growth. For instance, In 2017, the National Institute of Health (NIH) funded USD 1.8 billion for research in digestive diseases in the U.S.
Top Market Players
Various notable players operating in the market include Ethicon, Inc., Teleflex Incorporated, Olympus Corporation, Applied Medical Resources Corporation, CONMED Corporation., CooperSurgical, Inc., Genicon, Inc., Grena Ltd., B. Braun Melsungen AG, Medtronic, among others.
Key Developments:
-
- In 2018, Genicon Inc. signed a distribution agreement with Greenpine Pharma to supply its complete range of products in China.
- In 2019, Teleflex Incorporated collaborated with Titan Medical Inc. to announce a collaboration for the development of Robotic Ligation Technology. This collaboration focuses on integrating Teleflex’s market-leading polymer ligation technology into Titan’s development-stage, single-port robotic surgery system.
- In 2018, Olympus Corporation launched SmartBand® Multi-Band Ligation Kit to EndoTherapy Portfolio through an exclusive distribution agreement with Intelligent Endoscopy. This SmartBand offers the first scientifically designed anti-slip, the latex-free band intended to stay on the tissue for more reliable band retention.
Segments covered in the Report:
The global Ligation Devices market has been segmented on the basis of Product, Procedure, Application, End-User and regions. Based on Product, the market is segmented into Handheld instruments and Accessories. Based on Procedure, the market is segmented into MIS and Open Surgery. Based on Application, the market is segmented into Gastrointestinal & Abdominal Surgeries, Gynaecological Surgeries, Cardiovascular Surgeries, Urological Surgeries and Others. Based on End-User the market is segmented into Hospitals and Others.
For detailed scope of the “Ligation Devices Market” report request a Sample Copy of the report
|
Report Coverage |
Details |
| Market Revenues (2022) |
USD 1.3 billion |
| Market Base Year |
2022 |
| Market Forecast Period |
2023-2030 |
| Base Year & Forecast Units |
Revenues (USD billion) |
| Market Segment | By Product, By Procedure, By Application, By End-User, By Region |
| Regional Coverage | Asia Pacific, Europe, North America, and RoW |
| Companies Profiled | Ethicon, Inc., Teleflex Incorporated, Olympus Corporation, Applied Medical Resources Corporation, CONMED Corporation., CooperSurgical, Inc., Genicon, Inc., Grena Ltd., B. Braun Melsungen AG, Medtronic, among others; a total of 10 companies covered. |
| 25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Global Ligation Devices Market by Product
-
- Handheld instruments
- Accessories
Global Ligation Devices Market by Procedure
-
- MIS
- Open Surgery
Global Ligation Devices Market by Application
-
- Gastrointestinal & Abdominal Surgeries
- Gynaecological Surgeries
- Cardiovascular Surgeries
- Urological Surgeries
- Others
Global Ligation Devices Market by End-User
-
- Hospitals
- Others
Global Ligation Devices Market by Region
-
-
North America Ligation Devices Market (Option 1: As a part of the free 25% customization)
- By Product
- By Procedure
- By Application
- By End-User
- US Market All-Up
- Canada Market All-Up
-
Europe Ligation Devices Market (Option 2: As a part of the free 25% customization)
- By Product
- By Procedure
- By Application
- By End-User
- UK Market All-Up
- Germany Market All-Up
- France Market All-Up
- Spain Market All-Up
- Rest of Europe Market All-Up
-
Asia-Pacific Ligation Devices Market (Option 3: As a part of the free 25% customization)
- By Product
- By Procedure
- By Application
- By End-User
- China Market All-Up
- India Market All-Up
- Japan Market All-Up
- Rest of APAC Market All-Up
-
RoW Ligation Devices Market (Option 4: As a part of the free 25% customization)
- By Product
- By Procedure
- By Application
- By End-User
- Brazil Market All-Up
- South Africa Market All-Up
- Saudi Arabia Market All-Up
- UAE Market All-Up
- Rest of world (remaining countries of the LAMEA region) Market All-Up
-
Major Players Operating in the Ligation Devices (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
-
- Ethicon, Inc.
- Teleflex Incorporated
- Olympus Corporation
- Applied Medical Resources Corporation
- CONMED Corporation.
- CooperSurgical, Inc.
- Genicon, Inc.
- Grena Ltd.
- Braun Melsungen AG
- Medtronic
Why GMI Research
