What is the global market size of Ligation Devices Market?

The global Ligation Devices Market size was valued at USD 1002.1 million in 2021 and is poised to grow from USD 1061.3 million in 2022 to USD 1680.5 million by 2030, growing at a CAGR of 6.1% in the forecast period (2023-2030).

What is the key driver of Global Ligation Devices Market?

The key driver of the Global Ligation Devices Market is the increasing demand for minimally invasive surgeries (MIS) and the rise in gastrointestinal and abdominal treatments.

What is the key market trend for Global Ligation Devices Market?

The key market trend for the Global Ligation Devices Market is the rising healthcare spending, which is expected to fuel the demand for minimally invasive procedures and ligation devices.

Which region accounted for the largest share in Global Ligation Devices Market?

North America dominated the Global Ligation Devices Market in 2021, with the U.S. holding a 40% stake. However, the Asia Pacific region is expected to witness the fastest growth rate during the forecast period, driven by the increasing prevalence of gastrointestinal conditions and the adoption of minimally invasive procedures.

Global Ligation Devices Market Size, Share, Growth Analysis, By Application(gastrointestinal and abdominal applications, cardiovascular applications), By Product(handheld instruments, applications) - Industry Forecast 2024-2031

Q: Who are the key vendors in the Global Ligation Devices Market?

Key vendors in the Global Ligation Devices Market include Johnson & Johnson, Medtronic plc, Teleflex Incorporated, Olympus Corporation, Applied Medical, ConMed, Cooper Surgical, and B. Braun among others.

Report ID: SQMIG35A2198 | Region: Global | Published Date: April, 2024
Pages: 219 | Tables: 65 | Figures: 75

Global Ligation Devices Market Insights

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 Ligation Devices Market Report Snapshots

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FAQs

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. 'Medtronic Plc', 'Ethicon US LLC (a subsidiary of Johnson & Johnson)', 'Olympus Corporation', 'B. Braun Melsungen AG', 'Teleflex Incorporated', 'Applied Medical Resources Corporation', 'CONMED Corporation', 'CooperSurgical Inc.', 'Grena Ltd.', 'Boston Scientific Corporation', 'Cook Medical LLC', 'EndoEvolution LLC', 'Genicon Inc.', 'Smith & Nephew Plc', 'Stryker Corporation', 'The Weck Company', 'Unimicro Medical Systems Co. Ltd.', 'Constance Medical Technologies', 'IMMI SA', 'Fortimedix Surgical'

Over the projected period, the by-product from the ligation accessories sector is anticipated to hold the biggest market share. The main drivers of this segment's growth are the increase in gastrointestinal and abdominal treatments as well as the move toward minimally invasive surgeries (MIS).

The market will develop in the next few years as a result of rising healthcare spending, which may be utilized to treat numerous cardiovascular diseases and other conditions. Additionally, a rise in the demand for minimally invasive procedures that use ligation devices and related accessories will probably offer the market expansion opportunity in the years to come.

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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