Zion Market Research has published a new report titled “Ligation Devices Market by Product (Handheld Instruments, and Accessories [Clips, and Clip Remover]), by Type (Minimally Invasive Surgeries, and Open Surgeries), by Application (Gastrointestinal & Abdominal Surgeries, Gynecological Surgeries, Cardiothoracic Surgeries, Urological Surgeries, and Others), and by End User (Hospitals, Ambulatory Surgical Centers, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2019 – 2025”. According to the report, global demand for ligation devices market was valued at approximately USD 832.9 million in 2018, and is expected to generate revenue of USD 1,285.9 million by end of 2025, growing at a CAGR of 6.4% between 2019 and 2025.
Ligation devices are used in open or minimally invasive surgeries as well as for laparoscopic procedures devices to close an incision during surgery or to join separated tissues or organ parts. Endoscopic ligation is the most effective tool to treat protuberant lesions and is widely used in the management of bleeding in the angiodysplasia, gastric varices, and esophagus. Ligation helps in reducing the risk of related complications like hemorrhage and perforation. It also is the most feasible method to remove upper gastrointestinal lesion.
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Growing number of gastrointestinal, urological, gynecological, and cardiac surgery procedures that require ligation devices for treatment are boosting the market growth for these devices. Besides, rising minimally invasive surgical procedures is also driving the growth of ligation devices. Moreover, growth in prevalence of age related disorders, and demand for endoscopic procedures also require ligation devices thus boosting the market for these devices. Additionally, high adoption rate of minimally invasive surgeries, especially among the aged population has also enhanced market growth.
The ligation devices market is segmented based on application, end user, product, type, and regions. Based on product the market is segmented into accessories, and handheld instruments. The segment for accessories is further bifurcated into clip remover and clips. The segment for accessories held major share of the market due to the availability of these accessories in various sizes and its multiple use in single procedures has propelled the market for the segment globally. Based on type the market is segmented into open surgeries, and minimally invasive surgeries. The segment for minimally invasive surgeries held dominant position of the market as these offer benefits like quick recovery time and reduced post-operative cost. Moreover, these procedures are also associated with shorter hospital stays, low surgical site pain, low chances of readmission, infection, and mortality.
On the basis application the market is segmented into urological surgeries, cardiothoracic surgeries, abdominal & gastrointestinal surgeries, gynecological surgeries, and others. The segment for abdominal & gastrointestinal surgeries held major share of the market owing to the rising prevalence of age-related disorders and growing demand for these devices in therapeutic and diagnostic gastrointestinal procedures. The end user market is segmented into hospitals, ambulatory surgical centers, and others. The segment for hospitals held major share of the market as maximum number of surgical procedures are carried out in hospitals. Also, as per stats by American Hospital Association (AHA), there were more than 6,000 active hospitals in the U.S alone in 2017 as compared to 5,500 hospitals in 2016.
The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa with its further bifurcation into major countries. North America held major share of the market owing to the growing number of procedures and high cost of treatment. Moreover, presence of key players and government spending has further enhanced market growth in this region.
Some of the players in the market include Medtronic, Olympus Corporation, B. Braun Melsungen AG, Genicon, Inc., Applied Medical Resources Corporation, The Cooper Companies, Inc., Grena Think Medical, Teleflex Incorporated, Conmed Corporation, and Johnson & Johnson.
This report segments the global ligation devices market as follows:
Global Ligation Devices Market: Product Segment Analysis
Global Ligation Devices Market: Type Segment Analysis
Global Ligation Devices Market: Application Segment Analysis
Global Ligation Devices Market: End User Segment Analysis
Global Ligation Devices Market: Regional Segment Analysis
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