USD 1.00 Billion
Report ID:
SQMIG35A2198 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|Tables:
65
|Figures:
75
Global Ligation Devices Market size was valued at USD 1.00 Billion in 2022 and is poised to grow from USD 1.06 Billion in 2023 to USD 1.70 Billion by 2031, at a CAGR of 6.1% during the forecast period (2024-2031).
Ligation is a surgical procedure that involves wrapping a ligature around a body duct, tube, or blood vessel. Endoscopic ligation is an effective treatment for protuberant lesions and is widely used to manage bleeding esophageal, gastric varices, and angiodysplasia. It is a viable treatment option for upper gastrointestinal lesions. It also lowers the risk of complications like perforation and haemorrhage.
The increase in surgical and minimally invasive procedures is expected to drive the growth. The growing number of gastrointestinal, gynaecological, urological, and cardiac surgery procedures that require ligation devices for diagnosis and treatment is also driving the market.
Furthermore, there has been a significant increase in the prevalence of aging-related diseases, as well as an increase in the demand for endoscopic procedures. Furthermore, the increase in the number of research and development activities associated with ligation devices, as well as the production of innovative, small laparoscopic instruments, will provide favourable opportunities for the growth of the ligation devices market.
Furthermore, rising demand from emerging markets, as well as an increase in the number of government initiatives to raise awareness about the benefits of these devices, will drive the growth rate of the ligation devices market in the future.
On the other hand, the high cost of the devices and the scarcity of skilled professionals will stymie market growth. Side effects of tubal ligation surgery, such as pelvic or abdominal pain, will also pose a challenge to the market for ligation devices. However, a lack of awareness will act as a restraint, slowing the rate of growth even further.
US Ligation Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.00 Billion
Largest Segment
gastrointestinal and abdominal
Fastest Growth
gastrointestinal and abdominal
Growth Rate
6.1% CAGR
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The ligation devices market is segmented on the basis of product, procedure, applications, region, and end- users. The Ligation Devices Market is divided into three product categories: handheld instruments, applications, and accessories.The Ligation Devices Market is further divided into two categories: disposable and reusable. Clips and clip remover are further divided under the accessories category. The Ligation Devices Market is divided into minimally invasive surgery and open surgery according to the procedure. The gastrointestinal and abdominal applications, cardiovascular applications, gynaecological applications, urological applications, and other applications make up the application section of the market. According to the end users, the market has been divided into hospitals, ambulatory surgery centres, and other categories. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Ligation Devices Market Analysis by Application
The gastrointestinal and abdominal surgery segment accounted for the majority of market share and is expected to continue to dominate the market during the forecast period. The large market size is primarily due to the rising prevalence of age-related diseases, as well as the increasing demand for ligation devices in therapeutic and diagnostic gastrointestinal procedures. The cardiothoracic segment is expected to grow at the fastest CAGR during the forecast period, owing to an increase in the prevalence of heart-related diseases as well as an increase in the number of procedures.
Ligation Devices Market Analysis by Product
The accessories segment held the most market share and is expected to grow at the fastest rate during the forecast period. Clips and clip removers are two subcategories of accessories. Appliers has a significant market share and is expected to grow at a CAGR of 5.99% during the forecast period. The market is further subdivided into disposable and reusable applications. Reusable appliers have the largest market size and are expected to dominate the market during the forecast period, owing to their use in both minimally invasive and open surgery.
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On the basis of region, Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America dominated the market in 2021 as a result of growing expenses and a rise in the number of procedures. With a 40% stake, the U.S. controlled the local market. In addition, rising government investment and the presence of major companies are driving market expansion. During the forecast period, the Asia Pacific region's growth rate will be the fastest. This is because there are more and more gastrointestinal conditions that may be handled with the use of ligation devices and minimally invasive procedures. Numerous endoscopic procedures can make use of these gadgets. Many Asian businesses are concentrating their efforts on creating GI-specific products with an eye toward new markets.
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Ligation Devices Market Drivers
Rise of Gastrointestinal Treatments to Bolster Demand for Ligation Devices
Ligation Devices Market Restraints
High Investment to Hinder Market Growth
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There are several significant companies in the market for ligation devices, which are moderately consolidated. To increase their market share, the majority of the main players are concentrating on expanding their businesses in emerging nations. Johnson & Johnson, Medtronic plc, Teleflex Incorporated, Olympus Corporation, Applied Medical, ConMed, Cooper Surgical, and B. Braun are a few of the industry participants.
Ligation Devices Market Top Player's Company Profiles
Ligation Devices Market Recent Developments
SkyQuest’s ABIRAWA (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, The surgical process of joining a ligature to a blood vessel, duct, or tube in the body is referred to as ligation. Protuberant lesions may be treated with endoscopic ligation. Additionally, it is frequently used to treat angiodysplasia and bleeding gastric and esophageal varices. Lesions on the upper gastrointestinal tract may be removed using it. It lessens the possibility of complications including bleeding and perforation. Government initiatives and rising healthcare costs for conditions affecting the digestive system are some factors that are anticipated to contribute to market expansion. The top three medical expenses were for hepatitis, esophageal disease, biliary diseases, and stomach pain. There are 41 million ambulatory visits for GI illnesses in the United States each year. Due to a growth in surgical and minimally invasive treatments, the market is predicted to grow. An increasing number of gynaecological and urological procedures that require ligation devices for diagnosis and treatment are also fueling market expansion. The market is also fueled by the sharp rise in age-related disease incidence and the rising popularity of endoscopic procedures that call for ligation devices.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 1.00 Billion |
Market size value in 2031 | USD 1.70 Billion |
Growth Rate | 6.1% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Ligation Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Ligation Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Ligation Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Report ID: SQMIG35A2198