Wilmington, Delaware, United States, Sept. 15, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global ligation devices market is projected to flourish at a CAGR of 6% from 2020 to 2028. As per the report published by TMR, a valuation of US$ billion is anticipated for the market in 2028. As of 2023, the market for ligation devices is expected to close at US$ 1.1 billion.
An increase in the number of minimally invasive surgeries which have been a highly preferred method of treatment in the last few years among healthcare providers across the world drives the growth of the market. Ligation devices are essential tools in minimally invasive procedures, allowing surgeons to perform surgeries with smaller incisions, reduced scarring, and faster recovery times.
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Competitive Landscape
The global ligation devices market is moderately fragmented, with the presence of a few large players in the international market and numerous small players in regional markets. The top four to five players hold a major share of the global ligation devices market. Prominent players operating in the global ligation devices market include
- Ethicon (Johnson & Johnson)
- Medtronic Plc
- B. Braun Melsungen AG
- CONMED Corporation
- Teleflex Incorporated
- Olympus Corporation
- Applied Medical
- Genicon, Inc.
- Grena Think Medical
- Stryker
Key Developments in the Ligation Devices Market
- Medtronic, a global medical technology company, has been focusing on expanding its portfolio of ligation devices. They have launched new products, such as LigaSure™ Exact Dissecting Sealer, designed for minimally invasive procedures.
- Ethicon has introduced advanced ligation devices, including the ENSEAL® X1 Large Jaw Tissue Sealer, which offers improved vessel sealing capabilities. The company has also been involved in clinical trials and research to enhance ligation techniques.
- Teleflex has expanded its line of ligation products, offering solutions for various clinical applications. They have introduced devices like Weck® Hem-o-lok® polymer ligation clips designed for secure and reliable tissue ligation.
- Boston Scientific has focused on minimally invasive ligation solutions. Their products, such as the Resolution™ Clip, are designed for endoscopic procedures and have been used in the treatment of gastrointestinal conditions.
- Covidien, prior to its acquisition by Medtronic, had developed and marketed a range of ligation devices, including LigaSure™ vessel sealing instruments. These devices have been used in various surgical specialties.
An increase in the number of laparoscopic surgeries performed each year is expected to drive the demand and subsequent consumption of ligation devices in the global market. This, in turn, is expected to propel the global ligation devices market during the forecast period.
Growth in surgical procedures, including laparoscopic and endoscopic surgeries, has led to a higher demand for ligation devices. These devices are used in a wide range of surgical specialties, such as gynecology, urology, and general surgery.
The global increase in chronic diseases and the aging population have resulted in a higher number of surgical interventions. Ligation devices play a crucial role in treating conditions such as obesity, cardiovascular disease, and cancer.
Key Takeaways from the Market Study
- As of 2022, the ligation devices market was valued at US$ 1.0 billion
- By product, the ligation device segment enjoys high demand, accumulating a high revenue share during the forecast period.
- Based on surgery, the minimally invasive surgery segment is anticipated to dominate the industry during the forecast period
- Based on end-users, the hospitals & clinics segment is expected to generate high revenue during the forecast period, due to the increased demand in hospital settings.
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Ligation Devices Market: Key Trends and Opportunistic Frontiers
- Increased rate of female sterilization procedures, which often involve ligation of the fallopian tubes, have contributed to the demand for ligation devices in gynecological settings.
- The prevalence of gastrointestinal diseases, such as colorectal cancer and inflammatory bowel disease, has led to a greater need for ligation devices for hemostasis, tissue closure, and treatment.
- Ongoing advancements in ligation device technology have led to the development of more precise and efficient devices. New features, such as advanced hemostasis and tissue-sealing capabilities, have expanded the applications of ligation devices.
Ligation Devices Market – Regional Analysis
- North America dominates the ligation device market owing to the presence of the region's advanced healthcare infrastructure, high healthcare expenditure, and the large number of surgeries performed contribute to the demand for ligation devices. Regulatory agencies, such as the FDA, play a crucial role in product approvals.
- Asia Pacific to generate considerable revenue in the ligation device market the rapidly expanding healthcare sector and the rising prevalence of chronic diseases have increased the demand for ligation devices. The government's healthcare reforms and investments in medical infrastructure have further fueled market growth.
Ligation Devices Market- Key Segments
Product
- Ligation Devices
- Accessories
Surgery
- Minimally Invasive Surgery
- Open Surgery
Application
- Gynecology Surgery
- Urological Surgery
- Cardiovascular Surgery
- Others
End-use
- Hospitals & Clinics
- Specialty Centers
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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FAQ -
What is the total market worth of ligation devices market?
Ligation devices market to reach valuation of ~US$ 1.5 Bn by 2028
What is the anticipated CAGR of the ligation devices market in the forecast period?
Ligation devices market is projected to expand at a CAGR of 6% from 2020 to 2028
Who are the key players in the ligation devices market?
Key players in the global ligation devices market include Ethicon (Johnson & Johnson), Medtronic Plc, B. Braun Melsungen AG, CONMED Corporation, Teleflex Incorporated
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