Global Ligation Devices Market by Product (Appliers, Accessories), by Application (Urology, Cardiothoracic, GIT, Gynecology), by Procedure Type (MIS, Open) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global ligation device market was worth USD 860.3million in 2018. It is projected to grow at a compound annual rate (CAGR of 6.32%) between 2019 and 2026. The market is expected to grow due to an increase in minimally invasive and surgical procedures. Market growth is also being driven by an increasing number of gynecological and urological procedures that require ligation devices to diagnose and treat. The market is also driven by the significant increase in the incidence of age-related diseases and the rise in demand for endoscopic procedures that require ligation devices.

Ligation refers to the surgical procedure of attaching a ligature around any duct, tube, or blood vessel within the body. Endoscopic ligation can be used to treat protuberant lesions. It is also widely used for managing bleeding esophageal and gastric varices and angiodysplasia. It can be used to remove upper gastrointestinal lesion. It reduces the chance of complications such as hemorhage and perforation.

Market growth is also expected to be driven by factors such as government initiatives and increased healthcare spending for digestive system-related diseases. Hepatitis (USD 23.33 billion), esophageal disease (USD 18.1 trillion), biliary disorders (USD 10.3 millions) and abdominal pain (10.2 billion) were the top categories of healthcare spending in U.S. in 2015. Each year, there are 40.7 million ambulatory visits to the U.S. for GI diseases. The National Institute of Health (NIH), funded USD 1.8 Billion in 2017 for research on digestive diseases.

Geriatrics are more likely to develop chronic conditions and digestive problems. Market for ligation devices will see a significant increase in geriatrics. The high adoption rate for minimally invasive surgery, especially for geriatric patients, is expected to increase the market's growth. The National Institutes of Health (NIH) estimates that there were 6.17 million 65-year-olds in 2015, 8.5% of all the population. This number is expected to rise to 1.6 billion in 2050. These factors will drive market growth over the forecast period.

Application Insights

In 2018, the market share was dominated by the abdominal and gastrointestinal surgery segments. This market will continue to be dominant over the forecast period. Market size is due to rising incidence of age-related illnesses and rising demand for ligation equipment in therapeutic and diagnostic gastrointestinal procedures.

Due to an increase in heart-related conditions and a greater number of procedures, the cardiothoracic segment will expand at the fastest rate of CAGR over the forecast period. Open surgery can also use the ligation devices, such as to repair a damaged heart valve or bypass blocked arteries. The market is also growing with non-invasive heart surgery. Left atrial appendage closing is a common procedure recommended for patients with atrial fibrillation. Pericardial ligation works with the lariat device, and doesn't require open-heart surgery. This minimizes post-operative complications. These factors will likely propel growth.

End Use Insights

With more than 75% of the market, hospitals dominated 2018. This segment is driven by increasing procedures, rising healthcare spending and a growing number of hospitals. According to the American Hospital Association, there were 6,200 hospitals in America in 2017, up from 5,534 in 2016.

The segment Ambulatory Surgical Centers, (ASCs), also accounted for a significant market share in 2018. This segment is expected to see the largest CAGR over the forecast period. The high growth is due to an increase in outpatient procedures and the rising use of minimally invasive surgery, which don't require hospitalizations. The segment is expected to grow due to 20% to 50% cost savings at ASCs when compared to hospitals.

Product Insights

Accessories accounted for more than 55% of the market and will continue to grow at the fastest rate during the forecast period. Clip removers and clips are further sub-sectors of the accessories market. In 2018, the clips segment was dominant and will continue to grow at a rapid pace. This segment is expected to grow due to the availability of clips in different sizes and multiple uses in single procedures.

The appliers segment has a significant market share, and is expected grow at a CAGR 5.99% over the forecast period. This segment can be further divided into disposable andreusable appliers. The largest market share is held by reusable appliers. This is mainly due to their use in minimally invasive as well as open surgery.

Procedure Type Insights

Due to their benefits such as a quick recovery and lower post-operative costs, MIS procedures held the largest market share in 2018. MIS procedures also have a shorter hospital stay and lower risk of readmission, surgical site infections, pain and mortality. Segment growth is also driven by other benefits such as a small incision required and decreased blood loss during the procedure.

In 2018, the market for ligation services was dominated by the open surgery segment. This market is expected to continue growing at a rapid rate over the forecast period. This is due to increasing heart disease incidence and increased open-heart surgery. In various open-heart surgeries, such Coronary Artery Bypass Graft (CABG), mitral valve replacement and aortic valve replacements, ligation devices are used. According to the Society of Thoracic Surgeons Adult Cardiac surgery database, there were 156,931 CABG procedures in the United States in 2016. This has driven the demand for ligation devices.

Regional Insights

Due to rising costs and increasing number of procedures, North America was the dominant market in 2018. The U.S. dominated the regional market with a 75.0% share. Market growth is also being driven by increased government spending and presence of key players. Healthcare spending for gastrointestinal conditions in 2015 was USD 135 billion. This was significantly more than the amount spent on other common diseases.

Asia Pacific will experience the fastest growth rate during the forecast period. This is due to an increasing number of gastrointestinal diseases that can be treated with minimally invasive techniques using the ligation devices. These devices can be used in many endoscopic procedures. Many Asian companies are focusing their efforts on developing GI specialized products, and they are targeting emerging markets. Olympus, the Japanese manufacturer of endoscopic devices has opened a factory in Vietnam and multiple training centers in India, China, and China.

Market Share Insights & Key Companies

To provide superior services to Ligation Device patients, the players are focusing their efforts on new product launches. Medtronic Plc announced that its two product codes FFL112-ligation clip applicationlier and FF107-ligation clip applier were re-available in August 2019. The following are some of the major players in the market for ligation devices:

• Medtronic Plc

• Johnson and Johnson (Ethicon).

• Cooper Companies, Inc.

• CONMED Corporation

• B Braun Melsungen AG

• Teleflex Incorporated

• Olympus Corporation

Up Market Research published a new report titled “Ligation Devices Market research report which is segmented by Product (Appliers, Accessories), by Application (Urology, Cardiothoracic, GIT, Gynecology), by Procedure Type (MIS, Open), By Players/Companies Johnson and Johnson (Ethicon), the Cooper Companies Inc, CONMED Corporation, B Braun Melsungen AG, Teleflex Incorporated, Olympus Corporation, Medtronic Plc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Ligation Devices Market Report Segments:

The market is segmented by Product (Appliers, Accessories), by Application (Urology, Cardiothoracic, GIT, Gynecology), by Procedure Type (MIS, Open).

Ligation Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Ligation Devices Market

Overview of the regional outlook of the Ligation Devices Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Ligation Devices Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Ligation Devices Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Appliers

                2. Accessories

                1. Urology

                2. Cardiothoracic

                3. GIT

                4. Gynecology

                1. MIS

                2. Open

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Ligation Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Ligation Devices Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.