Selbyville, Delaware, June 12, 2023 (GLOBE NEWSWIRE) --
Ligation Devices Market size is projected to surpass USD 1.8 billion by 2032. The growth of the ligation devices industry is driven by the rise in demand for endoscopic procedures. Endoscopic procedures involve the use of minimally invasive techniques to visualize and treat internal organs and tissues and have gained popularity due to their numerous advantages, including reduced scarring, faster recovery time, and lower risk of complications. Ligation devices play a crucial role in endoscopic procedures and contribute to improved patient outcomes and procedural efficacy.
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Ligation instruments to gain prominence
Ligation instruments are projected to gain significant traction through 2032 driven by their widespread use in surgical procedures for securely closing blood vessels, ducts, and tissues. The increasing number of surgical procedures and the growing demand for minimally invasive surgeries have fueled the adoption of these instruments. Furthermore, continuous advancements in device design, material technology, and the introduction of innovative features enhance procedural efficiency and patient outcomes are facilitating segment gains.
Increasing use of ligation devices in open surgeries
The ligation devices market from the open surgery segment is estimated to amass notable gains by 2032. The demand for ligation devices in open surgery procedures has been increasing due to factors such as the rising prevalence of chronic diseases requiring surgical interventions, expanding aging population, and the advancements in surgical techniques. Ligation devices offer surgeons precise control, ease of use, and reliable closure, which improves patient outcomes and reduces the risk of complications, thereby propelling segment expansion.
High product adoption for gynecological surgery applications
The ligation devices market is likely to register strong development through 2032 attributed to the growing prevalence of gynecological conditions and disorders, such as uterine fibroids, endometriosis, and ovarian cysts, which has led to an increased demand for surgical interventions. Furthermore, ongoing development in ligation device technology, such as the development of specialized instruments for gynecological surgeries specifically designed to meet the requirements of gynecological procedures, to provide enhanced precision, ease of use, and reliable closure is boosting segment uptake.
APAC to present evolution opportunities for market players
Asia Pacific held a sizable revenue share in the global ligation devices market in 2022 and is foreseen to grow at a notable CAGR over 2023-2032 owing to the region's increasing population and rising prevalence of chronic diseases which has driven the demand for surgical procedures, including ligation procedures. Additionally, the availability of skilled healthcare professionals, improving healthcare infrastructure, and expanding access to healthcare facilities in countries like China, India, and Japan, coupled with favorable government initiatives promoting healthcare development.
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Ligation devices industry leaders
Some of the major players operating in the global ligation devices business are Johnson and Johnson (Ethicon), Teleflex Incorporated, Medtronic Plc, B Braun Melsungen AG, Cooper Surgical (the Cooper Companies, Inc.), and CONMED Corporation, among others.
Ligation devices market news
- In August 2022, Teleflex, a medical technology company, inked a formal agreement to buy surgical stapler producer Standard Bariatrics. This deal will enable Teleflex to utilize its current bariatric surgeon call point with a differentiated solution that complements several of its core surgical products, including its ligation portfolio.
- In December 2022, Healthium Medtech, a manufacturer of ligation clips and medical equipment, signed an agreement to sell Clinisupplies, its UK-based subsidiary, to KKR. The firm planned to re-invest the sale profits toward growing its portfolio in precision surgery, wound care, orthopedics, and post-surgical care via organic and inorganic means.
Partial Table of Contents (ToC) of the report:
Chapter 3 Ligation Devices Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Increasing preference for minimally invasive procedures
3.2.1.2 Technological advancements
3.2.1.3 Increasing number of gastrointestinal, gynecological, urological, and cardiac surgery procedures
3.2.1.4 Rise in demand for endoscopic procedures
3.2.2 Industry pitfalls & challenges
3.2.2.1 High cost of the ligation instruments and the accessories
3.2.2.2 Complications associated with the use of ligation devices
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company matrix analysis, 2022
4.3 Global company market share analysis, 2022
4.4 Vendor matrix anaylsis, 2022
4.5 Competitive positioning matrix
4.6 Strategy dashboard, 2022
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