Ligation Device Market By Product (Handheld Instrument and Accessories), Procedure (Minimally Invasive Surgery and Open Surgery), Application (Gastrointestinal & Abdominal Applications, Gynecological Applications, Cardiovascular Applications, and Urological Applications), End Users (Hospitals and Ambulatory Surgical Centers) - Global Analysis & Forecast 2020-2030
Report ID : 350 | Published Date : Jul 2020 | Pages : 150 | Region : Global | Report Code : MD-113
Ligation Device Market Overview and Introduction
A ligation device is used during a surgical procedure for tying a duct or blood vessel to prevent bleeding. The primary function of a ligating device is to occlude the lumen of a vessel or a tubular organ and maintain the occlusion until there is closure from natural healing. The applications of ligation devices include gastrointestinal & abdominal, cardiovascular, gynecological, as well as urological procedures, such as tubal ligation for female sterilization and the closure of surface wounds, among others. Laparoscopic clip appliers have applications in endoscopic procedures to achieve occlusion of vessels & other small tissue structures, and also for radiographic markings.
The global ligation device market is driven by the rising number of surgical procedures requiring ligation devices for diagnosis & treatment, the increasing demand for minimally invasive surgeries and favorable reimbursement policies. Moreover, increasing geriatric populations and the increasing prevalence of old age-linked diseases are further anticipated to fuel the ligation device market. However, the high prices of ligation devices are likely to restrain market growth to a certain extent.
The global ligation device market can be segmented by product, procedure, application, end user, and region.
Ligation Device Market By Product
Based on product, the ligation device market can be segmented into handheld instruments and accessories. The accessories segment is estimated to account for the largest share and will grow at the highest rate during the forecast period. The large share of this product segment can be attributed to the increasing number of surgeries and the extensive utilization of clips & appliers in various surgeries.
Ligation Device Market By Procedure
Based on procedure, the market can be segmented into minimally invasive surgery and open surgery. Minimally invasive surgeries are anticipated to grow at the highest CAGR during the forecast period. This high growth can be attributed to the increasing demand for minimally invasive surgeries due to their benefits such as shorter hospitalization period, lower chances of infections, reduced pain & scarring and the higher accuracy rate compared to traditional open surgeries. This increasing demand for minimally invasive surgeries is, in turn, leading to the increased demand for ligation devices, further driving the growth of this segment.
Ligation Device Market By Application
Similarly, based on application, the ligation device market can be segmented into gastrointestinal & abdominal applications, gynecological applications, cardiovascular applications, urological applications, and others. The cardiovascular segment is anticipated to grow at the highest CAGR during the forecast period, owing to increasing incidents of cardiovascular diseases and the high demand for ligation devices in cardiovascular surgeries.
Ligation Device Market By End Users
Based on the end users, the market can be segmented into hospitals, ambulatory surgical centers, and others. The hospitals segment is estimated to account for the largest share of the global ligation device market. The large share of this segment can be attributed to the presence of rising healthcare funding and the increasing number of surgeries in hospitals.
Ligation Device Market By Region
The global ligation device market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the ligation device market, followed by Europe and Asia Pacific. North America will continue to dominate the global ligation device market during the forecast period owing to factors such as increasing incidents of gastrointestinal diseases, increasing geriatric population, favorable reimbursement scenarios and the presence of key market players in the region, among others. However, Asia Pacific is expected to witness the highest CAGR due to factors such as the increasing costs of healthcare in the U.S., which have led to increasing medical tourism over the past few years and increasing government funding. Moreover, initiatives for healthcare infrastructure developments in the APAC region are likely to attract patients from different parts of the world.
Ligation Device Market Prominent Players
Some of the prominent players in the global ligation device market include Medtronic, Ethicon US, LLC., Corning Incorporated, The Cooper Companies Inc., B. Braun Melsungen AG., Olympus America, Teleflex Incorporated., GRENA LTD, Stryker, CONMED Corporation, and others.