PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555542
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555542
Ligation Devices Market size was valued at USD 1,654.2 Million in 2023, expanding at a CAGR of 6.50% from 2024 to 2032.
Ligation devices are those that assist in tying a thread or wire into a blood vessel or other tube within the body. It can be utilized to aid in the treatment of ailments like the development of hemorrhoids, gastrointestinal appendages, left atrial appendages, and cardinal ligament-related ureteral blockages. Moreover, tubectomy can be performed with the device to manage pregnancy. Both open and laparoscopic surgical techniques can require ligature attachments. Furthermore, esophageal varices are banded using ligation devices. The market is filled with a variety of accessories, like band ligators, which are used to remove the hemorrhoid completely. Increases in the frequency of diseases such as angiodysplasia, gastric varices, and gastrointestinal protuberant lesions are expected to boost market revenue throughout the projected period. In the upcoming years, a significant increase in the demand for minimally invasive procedures utilizing ligation tools and accessories is anticipated to support increased market revenue.
Ligation Devices Market- Market Dynamics
Growing Prevalence of Chronic Diseases
The need for ligation devices, which are employed in a variety of surgical operations intended to manage chronic diseases, is increasing in tandem with the global trend of rising chronic disease prevalence. The expanding prevalence of cardiovascular illnesses (CVDs), such as hypertension, heart failure, and coronary artery disease, is one of the main factors contributing to the increased need for ligation devices. Surgical procedures like coronary artery bypass grafting (CABG), valve replacement or repair, and angioplasty are necessary for these disorders. To limit bleeding and guarantee the best possible outcomes for patients, these procedures require precise ligation techniques. The need for ligation devices in cardiovascular applications is further fueled by the rising incidence of obesity, sedentary lifestyles, and aging populations, all of which add to the mounting burden of CVDs. In addition, gastrointestinal conditions such as diverticulitis, inflammatory bowel disease (IBD), and colorectal cancer are becoming more commonplace worldwide. In order to achieve hemostasis and facilitate tissue closure, ligation devices are essential during surgical interventions for these disorders, which frequently require procedures like appendectomy, colectomy, and colon resection. In gastrointestinal and abdominal applications, ligation devices are becoming more and more popular due to rising rates of gastrointestinal illnesses and advances in less invasive surgical techniques.
Ligation Devices Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.50% over the forecast period (2024-2032)
Based on product segmentation, the accessories category was predicted to show maximum market share in the year 2023
Based on procedure segmentation, the MIS category was predicted to show maximum market share in the year 2023
Based on application segmentation, the gastrointestinal & abdominal surgeries category was predicted to show maximum market share in the year 2023
Based on end user segmentation, the hospitals category was the leading segment in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Ligation Devices Market is segmented on the basis of Product, Procedure, Application, End User, and Region.
The market is divided into the following categories based on product: Handheld instruments and Accessories. The accessories category dominates the market. The primary drivers of the market expansion are the increasing number of gastrointestinal and abdominal operations as well as the growing popularity of minimally invasive surgeries (MIS). Because of the benefits that MIS procedures offer over open surgeries-such as fewer incisions, fewer complications after surgery, quicker recovery, less blood loss and scarring, and better patient outcomes-they have gained universal clinical acceptance. The growing understanding of the benefits of minimally invasive surgery compared to open surgery is also anticipated to propel market expansion. The American College of Cardiology reported that 800,000 fatalities in the United States in 2017 were related to cardiovascular disease. The market is expected to develop significantly as the number of disorders requiring surgery rises globally.
The market is divided into the following categories based on procedure: MIS and Open Surgery. The MIS category dominates the market and is likely to maintain its dominance during the forecast period due to benefits including a shorter recovery time and less expensive after surgery. Moreover, shorter hospital stays and a lower risk of readmission, surgical site infections, discomfort, and death are associated with MIS operations. Other benefits, like the requirement for a small incision and minimal blood loss during the procedure, are also driving the market expansion for ligation devices. The open surgery segment dominated the market for ligation services, and this trend is expected to continue over the estimated period. The increase in open heart operations and the prevalence of cardiac illness are the primary causes of the noteworthy growth rate.
Ligation Devices Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Throughout the forecast period, North America is anticipated to hold the greatest share of the global market for ligation devices due to the frequency of chronic illnesses and rising healthcare costs. The number of chronic illnesses requiring surgical interventions is rising, and the demand for minimally invasive procedures is rising; these factors are the main drivers of growth in the North American ligation device market. The aging population, which is more vulnerable to cardiovascular and gastrointestinal disorders, is another factor driving this development. Furthermore, favorable reimbursement policies for surgical operations and the growing healthcare system in North America have produced a climate that is favorable for market advancement.
In addition, the ligation devices market is anticipated to expand at the fastest rate in the world during the projected period in Asia Pacific. The Asia Pacific region's notable growth rate can be attributed in great part to the increase in gastrointestinal disorders, which can be treated using ligation devices and other minimally invasive techniques. These devices are necessary for a number of endoscopic operations. Many Asian companies focus on producing specific GI items and target underdeveloped countries in their endeavors. For instance, Olympus, a Japanese manufacturer of endoscopic devices, has established numerous training sites in China and India, in addition to a new one in Vietnam.
Prominent companies in the worldwide Ligation Devices industry employ diverse organic and inorganic tactics to fortify and enhance their market standing. Leading companies in the industry are B. BraunMelsungen AG, Olympus Corporation, ConMed Corporation, Applied Medical, and Ethicon (Johnson & Johnson). Intense competition among top players vying for market dominance characterizes the ligation device market. To obtain a competitive advantage, businesses innovate, differentiate their products, and form strategic alliances. Market dynamics are also influenced by changing healthcare policy and strict regulatory standards.
November 2023: Cook Medical sold its medical device assets to CooperCompanies for a price above $300 million. The acquisition is primarily focused on the obstetrics, gynecology surgery, and Doppler monitoring sectors. CooperCompanies paid $200 million as per the agreement at the time of the acquisition, with the remaining $100 million to be paid in two annual installments. Cook's minimally invasive medical equipment for Doppler monitor technology, maternal-fetal medicine, and gynecological surgery have been acquired by the corporation in substantial quantities. This covers accessories and throwaway gear.
June 2023: With the goal of using its ELVeS Radial laser system for minimally invasive laser treatment of insufficient veins, Biolitec recently disclosed the addition of two further significant innovations to the system. Even the most complicated veins can be removed by the ELVeS Radial 2ring Pro laser fiber thanks to its additional saline solution channel.