REPORT HIGHLIGHT
Ligation devices market was valued at USD 872.4 million by 2019, growing with 6% CAGR during the forecast period, 2020-2026
Market Dynamics
Ligation devices are used to join separated tissue/organ parts or closing incisions during surgeries. Increase in healthcare and R&D expenditures, rise in the number of surgeries, and favourable reimbursement policies are the major factors driving the growth of global ligation devices market. According to the CDC, in 2018, coronary heart disease was projected to be one of the most common types of heart disease within the U.S., which was estimated to cause 370,000 per year. Furthermore, a substantial rise in the incidence of aging-related diseases and rising demand for endoscopic procedures are likely to impel the market growth during the forecast period. However, high costs associated with the surgeries and its related side-effects are expected to restrict the market growth in the coming future.
Product Takeaway
Accessories segment held the majority of market share with more than 55% in 2020 and is expected to rise at the fastest pace in the projected timeframe. This rapid growth is mainly due to growing demand for accessories coupled with an increase in the volume of surgical procedures. Clips and removers are the major categories of accessories. The clips are available in different sizes and are extensively used in single procedures.
On the other hand, the appliers segment is projected to subjugate the market during the period of forecast. The appliers are further categorized into reusable and disposable appliers. The appliers’ products are utilized in both open and minimally invasive surgery.
Application Takeaway
The gastrointestinal & abdominal surgeries segment held the largest market share in 2018 owing to the increasing prevalence of age-related diseases coupled with the growing demand for litigation devices in diagnostic and therapeutic of gastrointestinal procedures. Along with this, the cardiothoracic segment is projected to grow at the fastest rate until 2030. This is mainly attributed to the rising number of surgical procedures coupled with the growing occurrence of heart-related diseases. Patients with atrial fibrillation are frequently recommended 'left atrial appendage closure' procedure. The pericardial ligation does not need an open-heart surgery as it works with the lariat device, which minimizes post-operative complications.
Procedure Type Takeaway
MIS procedures are allied with shorter hospital stays and lower chances of pain, surgical site infection, readmission, and mortality. The primary benefits of this procedure are reduced post-operative costs and quick recovery time. In MIS procedures there is reduced loss of blood and requirement of a small incision, which is helping the market to hold the largest market share during the forecast period. Along with MIS procedures, the open surgery segment is estimated to expand at an impressive pace in the projected timeframe owing to the increase in the number of open-heart surgeries and the rising occurrence of heart diseases.
End Use Takeaway
The hospitals segment dominated the ligation devices market with more than 75% of the revenue share in 2018. The factors driving the segmental market growth include an increase in the number of hospitals, rising healthcare expenditure, and a growing number of procedures. As per AHA (American Hospital Association) statistics, the number of active hospitals in the U.S. in 2017 was around 6,200, which is a rise from 5,534 hospitals in 2016.
Regional Takeaway
Presently, North America is dominating the market owing to the increasing number of procedures and high costs associated with the treatment. This region is estimated to maintain its lead during the forecast period. The Asia Pacific region is projected to be the fastest-growing market throughout the forecast owing to the rising prevalence of gastrointestinal diseases that can be treated by using ligation devices.
Key Vendors of the Market:
• Medtronic Plc
• The Cooper Companies, Inc.
• Johnson and Johnson (Ethicon)
• CONMED Corporation
• Teleflex Incorporated
• B Braun Melsungen AG
• Olympus Corporation
The market size and forecast for each segment and sub-segments has been considered as below:
• Historical Year – 2015 to 2018
• Base Year – 2019
• Estimated Year – 2020
• Projected Year – 2026
TARGET AUDIENCE
? Traders, Distributors, and Suppliers
? Manufacturers
? Government and Regional Agencies
? Research Organizations
? Consultants
? Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL LIGATION DEVICES MARKET, BY PRODUCT
? Appliers
o Reusable
o Disposable
? Accessories
o Clips
o Clip Remover
GLOBAL LIGATION DEVICES MARKET, BY PROCEDURE TYPE
? Open Surgery
? MIS
? Others
GLOBAL LIGATION DEVICES MARKET, BY APPLICATION
? Gynecological Surgery
? Cardiothoracic Surgery
? Gastrointestinal and Abdominal Surgery
? Urological Surgery
? Others
GLOBAL LIGATION DEVICES MARKET, BY END USE
? Ambulatory Centers
? Hospitals
? Others
GLOBAL LIGATION DEVICES MARKET, BY REGION
? North America
o The U.S.
o Canada
? Europe
o Germany
o France
o Italy
o Spain
o United Kingdom
o Rest of Europe
? Asia Pacific
o India
o China
o South Korea
o Japan
o Singapore
o Rest of APAC
? Latin America
o Brazil
o Mexico
o Argentina
o Rest of LATAM
? Middle East and Africa
o Saudi Arabia
o United Arab Emirates
o Rest of MEA