Global Ligation Devices Market - 2022-2029
The global ligation devices market size was valued at US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).
Ligation devices aid in tying a blood vessel or other tube in the body with a piece of thread or wire. It can be used to assist control diseases like hemorrhoids, gastrointestinal appendages, left atrial appendages, and ureteral blockage caused by cardinal ligaments. Furthermore, the device can be utilized to manage pregnancy by conducting tubectomy.
The rising prevalence of disorders such as gastrointestinal protuberant lesions, gastric varices, and angiodysplasia is expected to boost market revenue throughout the forecast period. A significant increase in the choice for minimally invasive procedures employing ligation devices and accessories is likely to boost market revenue in the future years.
The Increasing adoption of minimally invasive surgeries over open surgeries will drive the market growth
The rising frequency of cardiovascular and urological disorders and an increasing number of minimally invasive procedures and bariatric surgeries are driving the expansion of the ligation devices market.According to a 2017 survey by the European Heart Network, cardiovascular diseases are responsible for 3.9 million deaths in Europe.
As the prevalence of disorders requiring minimally invasive surgery rises, so will the use of ligation devices. Furthermore, favorable compensation policies, rising healthcare costs, and research and development expenditures boost market expansion. These factors are likely to boost the Ligation Devices market. Several government efforts and rising healthcare spending for digestive system illnesses are also expected to drive market expansion. In 2015, the most expensive categories of healthcare expenditure in the United States were:
Hepatitis (USD 23.3 billion).
Esophageal dysfunction (USD 18.1 billion).
Biliary tract diseases (USD 10.3 million).
Stomach pain (USD 10.2 billion).
More than 40.7 million ambulatory visits for GI disorders are made in the United States every year. In 2017, the National Institutes of Health (NIH) allocated USD 1.8 billion to digestive disease research in the United States.
The geriatric population is more vulnerable to digestive issues and chronic illnesses. The growing worldwide geriatric population is likely to impact the ligation devices market significantly. Furthermore, the rising adoption rate of minimally invasive operations, particularly for senior patients, is likely to drive growth. According to the National Institutes of Health (NIH), there were 617 million people over 65 in 2015, accounting for 8.5% of the total population. By 2050, the population is expected to reach 1.6 billion. The factors mentioned above are expected to fuel market expansion during the forecast period.
The high cost of ligation devices is likely to hamper the market growth
However, the high cost of ligation devices and accessories is a major impediment to market expansion.
COVID-19 Impact Analysis
On January 30, 2021, the World Health Organization (WHO) designated the COVID-19 outbreak a worldwide significant public health emergency. Ligation devices can be used to aid in a variety of surgical operations. However, during the forecast period, manpower shortages and resource constraints caused by COVID-19 are likely to have a detrimental influence on industry growth. Furthermore, the susceptibility of patients having surgery to COVID-19 exposure would impede the growth of the ligation devices market the first time. The emergence of tight government rules governing lockdowns has hampered industry expansion in the initial era.
The accessories segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)
The ligation accessories segment by-product is expected to hold the greatest market share during the projected period. The rising trend of minimally invasive surgeries (MIS) and rising gastrointestinal and abdominal operations are the primary reasons driving the expansion of this market. MIS techniques have received universal clinical acceptance because of their advantages over open surgeries, including fewer incisions, a lower incidence of postoperative problems, faster recovery, fewer scars and blood loss, and better patient outcomes. The growing awareness of the benefits of minimally invasive surgery over open surgery is also likely to fuel market expansion. According to the American College of Cardiology (2017), cardiovascular disease accounts for 800,000 fatalities in the United States; as conditions requiring surgery rise globally, the market will expand significantly.
North America region holds the largest market share of the global Ligation Devices market
North America is expected to dominate the overall ligation devices market throughout the projected period. The region's ligation devices market is being driven by a surge in the prevalence of urological disorders such as chronic kidney disease and cardiovascular disease.
In 2017, the United States had 30 million residents suffering from chronic kidney disease, according to the National Center for Chronic Disease Prevention and Health Promotion. The presence of important companies and developed healthcare infrastructure are other factors driving market expansion. Furthermore, positive government efforts and an increase in the number of research partnerships are likely to boost market expansion.
The ligation devices market is a highly competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Teleflex Incorporated, Genicon, Medtronic, Johnson & Johnson, The Cooper Companies Inc, Conmed Corporation, Braun Melsungen AG, Olympus Corporation, Applied Medical Resources Corporation, Grena Think Medical, among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the ligation devices market globally. For instance, In 2017, B.Braun constructed five new production and administration facilities in Penang to serve Malaysian customers. The company intends to manufacture medical devices for infusion therapy, pharmaceutical solutions, and surgical instruments in these facilities.
Grena LTD is a forward-thinking medical equipment producer. We offer cost-effective quality goods focusing on patient safety and user comfort.
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Global Ligation Devices Market– By Product
Global Ligation Devices Market- By Procedure
Minimally Invasive Surgery
Global Ligation Devices Market- By Application
Gastrointestinal & Abdominal Surgeries
Global Ligation Devices Market– By End User
Global Ligation Devices Market- By Region
Middle East & Africa
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