The report 'Ligation Devices ' Market by Product (Handheld Instruments, Accessories), By Procedure (MIS, Open Surgery), By Application (Gastrointestinal & Abdominal Surgeries, Gynecological Surgeries, Cardiovascular Surgeries, Urological Surgeries, Others), by End-user (Hospitals, Other End Users),- Global Forecast to 2028. The Global Ligation Devices Market is predicted to reach a market value of USD 1745.69 million by 2030from USD 932.61 million in 2020, at a CAGR of 6.47% during the forecasted period. Due to the increased usage of surgical operations and less invasive techniques, the ligation market is growing. The market is fueled by the increased number of gastrointestinal, gynecological, urological, and cardiac surgical procedures requiring ligation devices for diagnostic and therapeutic purposes.
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Based on Product, the 'accessories' market sector dominated the overall market sector.
In 2020, the 'accessories' market sector accounted for more than 55 percent of the market, according to Product. Over the forecasted period, it is expected to grow at a CAGR of 6.9%. This surge can be attributed to an increase in surgical operations, particularly in developing countries. Furthermore, because of its wide range of sizes and applications in surgical procedures, this category is predicted to grow.
Based on Procedure, the open surgery segment dominated the entire market significantly.
The 'open surgery' segment accounted for a substantial percentage of the ligation device market in 2020, and it is expected to grow fast during the estimated period. It is also predicted to expand at a high rate, owing to an increase in cardiac disease and open-heart surgical operations. In addition, numerous open-heart surgical procedures requiring ligation devices, such as Coronary Artery Bypass Graft (CABG), aortic valve replacement, and mitral valve replacement, are propelling the market to a large extent. According to the Society of Thoracic Surgeons Adult Cardiac Surgery Database, 156,931 CABG procedures were conducted in the United States in 2016, indicating that ligation devices are becoming more popular.
Based on the Application, 'Gastrointestinal and abdominal procedures' accounted for the largest market share in 2020.
Furthermore, the cardiovascular surgery sector is predicted to drive market growth at a CAGR of 6.9% over the forecast period. This is attributable to an increase in the number of cardiovascular diseases. Furthermore, as technology progresses in cardiovascular robotic surgery, the market for ligation devices is likely to grow. According to the American College of Cardiology, cardiovascular disease is responsible for 800,000 fatalities in the United States (2017).
On the basis of End-User, 'hospitals' accounted for the largest market share in 2020.
The 'hospitals' sector accounted for more than 75% of the total market in 2020. An increase in the number of procedures, an increase in healthcare spending, and the number of hospitals are all among the segment's key drivers. According to the American Hospital Association (AHA), the number of operating hospitals in the United States increased to 6,200 in 2017, up from 5,534 in 2016. Moreover, throughout the anticipated period, the Ambulatory Surgical Centers (ASCs) category is expected to have the highest CAGR.
North America region had the most significant market share for ligation devices in 2020.
Due to the rising healthcare costs and the prevalence of chronic illnesses, coronary heart disease (CHD) was the most common type of cardiac disease in the United States in 2018, according to the CDC (Centers for Disease Control and Prevention), causing 370,000 fatalities annually. In addition, according to the National Center for Chronic Disease Prevention and Health Promotion, chronic kidney disease afflicted thirty million people in the United States in 2017. Furthermore, Asia Pacific is expected to increase rapidly during the forecasted time. The APAC region's growth is fueled by its large patient population and rapid infrastructure development.
The key players in the market are Ethicon (Johnson and Johnson), ConMed Corporation, Olympus Corporation, Applied Medical, B.BraunMelsungen AG, Cooper Surgical, Genicom, Grena Think Medical, Teleflex Incorporated, Medtronic.
Recent Developments
• On May 3rd, 2021, CooperSurgical purchased OBP Medical Corporation, a medical device company based in the United States that develops and manufactures revolutionary products such as single-use vaginal speculums with integrated LED illumination.
· In August 2019, Medtronic Plc's two product codes, FFL112-ligation clip applier andFF107-ligation clip applier, was confirmed to be available again.
· In 2018, Genicon, Inc. signed a distribution agreement with Greenpine Pharma, China, to distribute the company's entire product line in the country.