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Ligation Devices Market CAGR Growth of 6.7% by 2024

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Reshu Gupta

Global Ligation Devices Market Report: By Product (Handheld Instruments, Accessories), Procedure (Minimally Invasive Surgery, Open Surgery), and Application (Gastrointestinal and Abdominal, Gynecological, Urological Applications)—Global Forecast till 2024

Ligation Devices Market Highlights

As per Market Research Future (MRFR) analysis, the global ligation devices market is estimated to register a CAGR of 6.7% from 2019 to 2024 (forecast period).

Ligation devices are used for closing incisions during surgeries or for connecting separate organ/tissue parts. The number of surgeries and laparoscopic procedures has increased in the last few years. According to the 2017 National Health Statistics Reports published by the Centers for Disease Control and Prevention, 48.3 million surgical/non-surgical procedures were performed in the United States in 2010. It is reported that surgeries are often reimbursed, thereby facilitating a wider pool of patients for producers.

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Ligation Devices Market Dynamics

Favorable reimbursement policies, rising health expenditures, and increasing research and development expenditure are expected to boost the market. As per the GI Endoscopy Coding and Reimbursement Guide published by Cook in 2017, procedures such as endoscopic retrograde cholangiopancreatography (ERCP) are covered by CPT code 43261 with an average facility payment of approximately USD 1.134.02.

However, it is projected that factors such as the high cost of surgery and related side effects would hinder the market growth.

 

Ligation Devices Market Regional Analysis

Regionally, the global ligation devices market has been segmented into the Americas, Asia Pacific, Europe, the Middle East & Africa.

The Americas held the largest market share for ligation devices due to rising health expenditure and the growing prevalence of chronic diseases. As reported by the Centers for Disease Control and Prevention in 2018, coronary heart disease (CHD) has been estimated to be the most common type of heart disease in the U.S. and is expected to cause 370,000 heart disease per year.

Europe held the second position in the global market for ligation devices in 2018. It can be due to growing awareness, government funding, the production of technologically advanced medical devices, and the rising number of surgeries. However, stringent regulation is expected to hinder the growth of the global market for ligation devices over the forecast period.

The Asia Pacific was the fastest-growing region on the global market for ligation devices in 2018. Asia Pacific has an enormous market potential for the market for ligation devices. Factors such as increasing healthcare infrastructure, developing healthcare industries, increasing number of surgeries, and rising medical tourism are driving market growth in the region. Monash University stated that the bariatric surgery burden in Australia was burgeoning in 2015, and roughly 15,000 surgical procedures were carried out in the region in the same year. Moreover, the emergence of developing economies such as India and China are boosting the market.

The Middle East and Africa have had the least market share in the global market for ligation devices. Factors such as the existence of poor economies and low per capita income, particularly in the African region, make the market lag within the region. It is projected that the Middle East holds most of the regional market due to increased government funding in the healthcare sector and the presence of developed economies such as the United Arab Emirates, Saudi Arabia, and others.

Ligation Devices Market Segmentation

The global ligation devices market is segmented based on product, procedure, application, end user, and region.


On the basis of product, the market is segmented into handheld instruments and accessories. Based on procedure, the market is segmented into minimally invasive surgery and open surgery. The application segment is segmented into gastrointestinal and abdominal applications, cardiovascular applications, gynecological applications, urological applications, and others. Based on the end user, the market is segmented into hospitals & clinics, ambulatory surgical center, and others.

Ligation Devices Market Key Players

Some of the significant participants in the global ligation devices market are Medtronic, Johnson & Johnson, Conmed Corporation, Teleflex Incorporated, B. Braun Melsungen AG, Olympus Corporation, Applied Medical Resources Corporation, The Cooper Companies, Inc., Grena Think Medical, Genicon, Inc., and others. 

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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Market Research Future
Office No. 528, Amanora Chambers
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NOTE : Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

 

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