Market- Overview
The global ligation devices market is expected to grow at a CAGR of 5.9% during the forecasting period (2022-2029).
Ligation devices aid in tying a blood vessel or other tube in the body with a piece of thread or wire. It can be used to assist control diseases like hemorrhoids, gastrointestinal appendages, left atrial appendages, and ureteral blockage caused by cardinal ligaments. Furthermore, the device can be utilized to manage pregnancy by conducting tubectomy.
Market Dynamics
The rising pervasiveness of issues like gastrointestinal protuberant sores, gastric varices, and angiodysplasia is supposed to support market income all through the figure period. A critical expansion in the decision for negligibly intrusive methods utilizing ligation gadgets and adornments is probably going to help market income later on years.
The Increasing adoption of minimally invasive surgeries over open surgeries will drive the market growth
The rising recurrence of cardiovascular and urological messes and a rising number of negligibly obtrusive techniques and bariatric medical procedures are driving the development of the ligation gadgets market. According to a 2017 overview by the European Heart Network, cardiovascular sicknesses are answerable for 3.9 million passings in Europe.
As the commonness of problems requiring insignificantly obtrusive medical procedures rises, so will the utilization of ligation gadgets. Besides, great pay strategies, rising medical services expenses, and innovative work use help market development. These variables are probably going to help the Ligation Devices market. A few government endeavours and rising medical services spending for stomach related framework ailments are likewise expected to drive market extension. In 2015, the most costly classes of medical care consumption in the United States were:
- Hepatitis (USD 23.3 billion).
Esophageal brokenness (USD 18.1 billion).
Biliary plot illnesses (USD 10.3 million).
Stomach torment (USD 10.2 billion).
More than 40.7 million wandering visits for GI problems are made in the United States consistently. In 2017, the National Institutes of Health (NIH) designated USD 1.8 billion to stomach related sickness research in the United States.
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Market Segmentation
By Product
- Handheld Instruments
- Accessories
By Procedure
- Minimally Invasive Surgery
- Open Surgery
By Application
- Gastrointestinal & Abdominal Surgeries
- Gynecological Surgeries
- Cardiovascular Surgeries
- Urological Surgeries
- Others
Competitive Landscape
The ligation devices market is a highly competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Teleflex Incorporated, Genicon, Medtronic, Johnson & Johnson, The Cooper Companies Inc, Conmed Corporation, Braun Melsungen AG, Olympus Corporation, Applied Medical Resources Corporation, Grena Think Medical, among others.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the ligation devices market globally. For instance, In 2017, B.Braun constructed five new production and administration facilities in Penang to serve Malaysian customers. The company intends to manufacture medical devices for infusion therapy, pharmaceutical solutions, and surgical instruments in these facilities.
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