PUBLISHER: Grand View Research | PRODUCT CODE: 1611234
PUBLISHER: Grand View Research | PRODUCT CODE: 1611234
The global ligation devices market size is expected to reach USD 1.8 billion by 2030 according to a new report by Grand View Research, Inc., registering a 7.0% CAGR from 2025 to 2030. The market is primarily driven by the increasing incidence of digestive system related diseases and increasing adoption of minimally invasive procedures. Technological advancements in the field of endoscopy which require ligation devices is also expected to drive the growth. Moreover, increasing healthcare spending in the field of gastrointestinal procedures is also fueling the market. Rise in the geriatric population prone to various digestive and chronic diseases is projected to contribute to the rising demand. According to the National Institutes of Health, in 2015, there were 617 million people over the age of 65 years and the number is projected to reach1.6 billion by 2050.
Increasing use of ligation devices in open surgeries such as coronary artery bypass, aortic valve replacement, and mitral valve replacement is expected to propel growth of the ligation devices market. According to the Society of Thoracic Surgeons Adult Cardiac Surgery Database, in U.S., 156,931 Coronary Artery Bypass Grafting (CABG) procedures were performed, in 2016. In addition, favorable reimbursement policies along with rising R&D expenditure is also adding to the growth of the market.