global Ligation Devices market size is expected to be worth around US$ 1.6 million by 2028, according to a new report by Vision Research Reports.
The global Ligation Devices market size was valued at US$ 860.6 million in 2020 and is anticipated to grow at a CAGR of 6.35% during forecast period 2021 to 2028.
The market is primarily driven by the increasing incidence of digestive system related diseases and increasing adoption of minimally invasive procedures. Technological advancements in the field of endoscopy which require ligation devices is also expected to drive the growth. Moreover, increasing healthcare spending in the field of gastrointestinal procedures is also fueling the market. Rise in the geriatric population prone to various digestive and chronic diseases is projected to contribute to the rising demand. According to the National Institutes of Health, in 2015, there were 617 million people over the age of 65 years and the number is projected to reach1.6 billion by 2050.
Increasing use of ligation devices in open surgeries such as coronary artery bypass, aortic valve replacement, and mitral valve replacement is expected to propel growth of the ligation devices market. According to the Society of Thoracic Surgeons Adult Cardiac Surgery Database, in U.S., 156,931 Coronary Artery Bypass Grafting (CABG) procedures were performed, in 2016. In addition, favorable reimbursement policies along with rising R&D expenditure is also adding to the growth of the market.
The gastrointestinal and abdominal surgery segment captured the majority of the market share in 2020 and is expected to dominate the market during the forecast period. The high market size is primarily attributed to the rising prevalence of age-related diseases coupled with the rising demand for ligation devices in therapeutic and diagnostic of gastrointestinal procedures.
The cardiothoracic segment is expected to expand at the fastest CAGR during the forecast period driven by the increasing incidence of heart-related diseases along with an increasing number of procedures. The ligation devices can also be used in open surgery, such as repair of a faulty heart valve or to bypass blocked arteries. Furthermore, an increasing number of non-invasive heart surgeries are also propelling the market. Patients with atrial fibrillation are often recommended a procedure known as left atrial appendage closure. The pericardial ligation procedure works with the lariat device and does not require an open-heart surgery, thereby minimizing post-operative complications. The aforementioned factors are anticipated to propel the growth.
The hospitals segment dominated with more than 75% market share in 2020. The key drivers of the segment are increasing number of procedures, rise in healthcare spending, and growing number of hospitals. According to the American Hospital Association (AHA), there were 6,200 active hospitals in U.S in 2017, an increase from 5,534 hospitals in 2016.
Ambulatory Surgical Centers (ASCs) segment also captured considerable market share in 2020. The segment is expected to register the highest CAGR during the forecast period. Factors contributing to the high growth include increasing number of outpatient procedures and rising adoption of minimally invasive surgeries, which do not require longer hospital stays. In addition, 20% to 50% cost savings in ASCs compared to the cost involved to perform the same procedure in hospitals is also anticipated to drive the segment growth over the forecast period.
The accessories segment accounted for the largest market share of more than 55% and is expected to expand at the fastest pace during the forecast period. The accessories segment is further divided into clips and clip removers. The clips segment dominated the market in 2020 and is also expected to register a high growth rate. Availability of these clips in a variety of sizes and multiple use in single procedures is anticipated to drive the segment growth.
Appliers segment also has considerable market share and is expected to expand at a CAGR of 6.1% during the forecast period. The segment is further divided into disposable and reusable appliers. Reusable appliers account for the largest market size and is expected to dominate the market during the forecast period, primarily attributed to the product usage in both minimally invasive and open surgery.
MIS procedures accounted for the largest market share in 2020 due to benefits, such as quick recovery time and reduced post-operative cost. MIS procedures are also associated with shorter hospital stays and lower chances of readmission, surgical site infection, pain, and mortality. Other benefits, such as requirement of small incision and reduced blood loss during the procedure are also driving the segment growth.
North America dominated in 2020 owing to the high cost of treatment and the increasing number of procedures. U.S. spearheaded with over 75.0% regional market share in the same year. Furthermore, increasing government spending and the presence of key players is also propelling the market growth. In 2015, healthcare expenditure to gastrointestinal conditions was totaled USD 135 billion, which was much higher than other common diseases.
Asia Pacific is expected to register the fastest growth during the forecast period. The high growth rate is primarily attributed to the increasing prevalence of gastrointestinal diseases which can be treated by minimally invasive techniques using ligation devices. These devices are used in many endoscopic procedures. Several Asian companies are focusing on development of GI specialized products and are targeting emerging countries. For instance, Japanese company Olympus, a manufacturer of endoscopic devices, established a new factory in Vietnam as well as multiple training centers in India and China.
Johnson and Johnson (Ethicon)
the Cooper Companies, Inc.
B Braun Melsungen AG
Gastrointestinal and Abdominal Surgery
Procedure Type Outlook
End Use Outlook
Ambulatory Surgical Centers
Middle East & Africa
The Ligation Devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Ligation Devices market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Ligation Devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Ligation Devices market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Ligation Devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Ligation Devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Ligation Devices by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Ligation Devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Ligation Devices market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Ligation Devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Ligation Devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Ligation Devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Ligation Devices market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Ligation Devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Ligation Devices market. These factors have benefited the growth of the global market for Ligation Devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Ligation Devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Ligation Devices are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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