Ligation Devices Market Size was valued at USD 0.42 Billion in 2023. The Ligation Devices market industry is projected to grow from USD 0.44 Billion in 2024 to USD 0.63 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.53% during the forecast period (2024 - 2032). Increasing public concern over angiodysplasia, protuberant gastrointestinal lesions, stomach variceal ulcers, and increased R&D spending on healthcare are the key market drivers contributing to market growth and expansion.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The rising R&D spending on healthcare drives the Market CAGR for Ligation Devices. The growth in diseases and other disorders that need ligation devices as individuals age boosts the market. In the next years, the industry would also profit from a rise in healthcare spending, which could be used to treat several cardiovascular problems along with various other illnesses. Yet, the increased cost of ligation devices employed in surgical procedures may hamper industry growth. Conversely, the increasing acceptance of minimally invasive procedures utilizing ligation devices & accessories is expected to give attractive opportunities for market expansion in the future generations.
The public's increased worry over angiodysplasia, protuberant intestinal spots, and stomach variceal will motivate the industry to create larger revenues throughout the forecast. The advancement of less invasive treatments using ligation accessories will drive market demand in the next years. The rising prevalence of illnesses and other disorders places a significant demand on ligation devices. Furthermore, increased expenditure on medical care for therapies such as cardiovascular illnesses would drive the industry toward substantial development potential. Another reason for boosting the sector is the growth in diseases and other disorders that require ligation devices as individuals age. In the next years, the industry would also profit from a rise in healthcare spending, which could be used to treat several cardiovascular problems and various other illnesses.
The World Health Organization designated COVID-19 as a health emergency of worldwide significance. Ligation devices may be employed to aid in a variety of surgical operations. Yet, manpower shortages and resource constraints caused by COVID-19 will likely have a detrimental influence on industry growth throughout the projection period. Furthermore, the vulnerability of patients having surgery to COVID-19 exposure would impede the development of the ligation devices demanded for the first time. The emergence of tight government rules surrounding lockdowns hampered industry expansion in the first era.
For instance, according to a 2017 survey done by the European Heart Network, cardiovascular illnesses are responsible for 3.9 million fatalities in Europe. As the prevalence of disorders requiring minimally invasive surgery rises, so will the use of ligation devices. Additionally, favorable pay policies, rising medical costs, and rising scientific and technological expenditures contribute to market expansion. Thus, it is anticipated that demand for Ligation Devices will increase throughout the projected timeframe due to the rising R&D spending on healthcare. Thus, driving the Ligation Devices market revenue.
The Ligation Devices market segmentation, based on Product, includes Handheld Instruments and Accessories. The accessories segment dominated the market, accounting for 68% of market revenue (USD 0.3 Billion) in 2022 because of the rising number of surgical operations, particularly in emerging markets. This increase might be attributed to an increase in the number of surgical operations, particularly in developing countries. In addition, because of being accessible in numerous sizes and diverse uses in surgical procedures, this category is predicted to grow.
The Ligation Devices market segmentation, based on Procedures, includes Minimally Invasive Surgery and Open Surgery. The open surgery category generated the highest market revenue of about 57% (USD 0.2 billion) in 2022. It is also predicted to expand fast, owing to an increase in the rates of cardiac illnesses and open-heart surgical operations. Various forms of open-heart operations, including replacements for mitral valves needing ligation devices, are also propelling the market.
Figure 1: Ligation Devices Market, by Procedure, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Ligation Devices market segmentation, based on Application, includes Gastrointestinal and Abdominal Applications, Cardiovascular Applications, Gynecological Applications, Urological Applications, and Others. The gastrointestinal and abdominal applications segment dominated the market, accounting for 39% of market revenue (USD 0.2 Billion) in 2022. This is attributed to an increase in the incidence of heart disorders. Furthermore, the demand for ligation devices is projected to grow as innovation progresses in cardiac robotic surgery.
By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Ligation Devices market area will dominate this market during the projected timeframe; because of growing healthcare expenditures and the incidence of chronic illnesses, as well as rising government spending and substantial rivals, the industry is expanding, which will boost the market growth in the North American region.
Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Ligation Devices Market Share by Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe region’s Ligation Devices market accounts for the second-highest market share due to the Massive patient population and fast infrastructure expansion. Further, the German Ligation Devices market holds the largest market share, and the UK Ligation Devices market is expected to grow and expand significantly in the European region during the projected timeframe.
The Asia-Pacific Ligation Devices Market is expected to grow quickly during the projected timeframe. This is due to rapid expansion largely due to increased gastrointestinal illnesses, which may be addressed using minimally invasive procedures utilizing ligation devices. Moreover, China’s Ligation Devices market dominates the market share, and the Indian Ligation Devices market is expected to expand and grow steadily in the Asia-Pacific region during the projected timeframe.
Ligation Devices Key Market Players & Competitive Insights
Leading market players invested heavily in research and Development (R&D) to scale up their manufacturing units and develop technologically advanced solutions, which will help the Ligation Devices market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their footprint, with significant market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Ligation Devices industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.
Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the critical business strategies organizations use in the Ligation Devices industry to benefit customers and capture untapped market share and revenue. The Ligation Devices industry has recently offered significant advantages to the healthcare industry. Moreover, more industry participants are utilizing and adopting cutting-edge Technology has grown substantially. Major players in the Ligation Devices market, including Medtronic, Johnson & Johnson, The Cooper Companies Inc., Conmed Corporation, Braun Melsungen AG, Teleflex Incorporated, Olympus Corporation, Applied Medical Resources Corporation, Grena Think Medical, and Genicon Inc, are attempting to expand market share and demand by investing in R&D operations to produce sustainable and affordable solutions.
CooperSurgical is a dependable source of medical supplies, gadgets, and recyclables that meet women's medical demands across their lifetimes. They are a prominent female healthcare and fertility firm committed to placing opportunity on the path of women, infants, and households in critical medical situations. They enable healthcare practitioners to give speedy results, successful therapies, and more alternatives at the appropriate moment by providing a wide variety of new medical therapies so that women, infants, and their loved ones can discover greater opportunities quicker than ever before. CooperSurgical purchased OBP Medical Corp in May 2021, a medical device company in the United States that develops and produces distinctive goods, including single-use vaginal speculums featuring embedded LED lighting.
Genicon, Inc. designs, manufactures and distributes surgical gear for laparoscopic surgery. Laparoscopic equipment that includes without blade products, protected and pyramid tip structures, and disposable suction systems for irrigation are available from the company. Genicon, Inc. signed a distribution agreement with Greenpine Pharma, China, in September 2019 to distribute its entire product portfolio in China.
Key Companies in the Ligation Devices market include
Ligation Devices Industry Developments
May 2021:CooperSurgical purchased OBP Medical Corp in May 2021, a medical device company in the United States that develops and produces distinctive goods, including single-use vaginal speculums featuring embedded LED lighting.
September 2019:Genicon, Inc. signed a distribution agreement with Greenpine Pharma, China, in September 2019 to distribute its entire product portfolio in China.
March 2018:B. Braun built five new manufacturing and office buildings in Penang in March 2018 to service consumers in Malaysia. The business intends to manufacture surgical equipment, pharmaceutical items, and medical supplies for infusion-based therapy in these locations.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 0.42 Billion |
| Market Size 2024 | USD 0.44 Billion |
| Market Size 2032 | USD 0.63 Billion |
| Compound Annual Growth Rate (CAGR) | 4.53% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Procedure, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Medtronic, Johnson & Johnson, The Cooper Companies Inc., Conmed Corporation, Braun Melsungen AG, Teleflex Incorporated, Olympus Corporation, Applied Medical Resources Corporation, Grena Think Medical, and Genicon Inc. |
| Key Market Opportunities | There is an increasing public concern over angiodysplasia, and protuberant gastrointestinal lesions, including stomach variceal ulcers. |
| Key Market Dynamics | Increased healthcare costs, as well as increased R&D spending |
Ligation Devices Market Highlights:
Frequently Asked Questions (FAQ) :
The Ligation Devices market size was valued at USD 0.4 Billion in 2022.
The market is projected to grow at a CAGR of 4.53% during the forecast period, 2024-2032.
North America had the largest share of the market
The key players in the market are Medtronic, Johnson & Johnson, The Cooper Companies Inc., Conmed Corporation, Braun Melsungen AG, Teleflex Incorporated, Olympus Corporation, Applied Medical Resources Corporation, Grena Think Medical, and Genicon Inc.
The Accessories category dominated the market in 2022.
Open surgery had the largest share of the market.
Research Analyst Level I He is an extremely curious individual currently working in healthcare and medical devices domain. kinjoll is comfortably versed in data centric research backed by healthcare educational background. he leverages extensive data mining and analytics tools such as primary and secondary research, statistical analysis, machine learning, data modelling. his key role also involves technical sales support, client interaction and project management within the healthcare team. lastly, he showcases extensive affinity towards learning new skills and remain fascinated in implementing them.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
