Ligation Devices Market Size, Share, Trends, Analysis Report and Forecast 2022 – 2031

Kenneth Research recently added a report on ‘Ligation Devices Market’ in its database of market research reports which provides its readers an in-depth analysis on the latest trends, growth opportunities and growth drivers that are associated with the growth of the market. The report additionally shares critical insights on the COVID-19 impacts on the Ligation Devices Market, along with the compound growth rate (CAGR) of the market for a projected period between 2022 and 2031. The report also includes analysis of the market by utilizing different analytical tools, such as PESTEL analysis and Porter’s five forces analysis. These tools also provide an in-depth analysis on the micro and macro-environmental factors that are associated with the growth of the market during the forecast period.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Ligation Devices Market products.

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In 2021, the global ligation equipment market is estimated to be valued at USD 900 million, and it is expected to grow at a compound annual growth rate (CAGR) of 8% from 2022 to 2030. The increase in surgical procedures and minimally invasive procedures has driven growth. The market is also driven by the increasing number of gastrointestinal, gynecological, urological, and cardiac surgery operations that require ligation devices for diagnosis and treatment. In addition, the significant increase in the prevalence of aging-related diseases and the increase in demand for endoscopic surgery requiring ligation equipment are also driving factors in the equipment market. Ligation is a surgical procedure that involves ligating a catheter, tube, or blood vessel in the body.

Endoscopic ligation is an effective method for the treatment of bulging lesions, and is widely used in the treatment of esophageal bleeding, gastric varices, and vascular dysplasia. It is a feasible method to eliminate upper gastrointestinal diseases. It also reduces the risk of related complications such as perforation and bleeding. Factors such as various government initiatives and increased healthcare expenditures for the treatment of diseases related to the digestive system are also expected to drive market growth. In 2015, hepatitis (US$23.3 billion), esophageal disease (US$18.1 billion), biliary disease (US$10.3 million) and abdominal pain (US$10.2 billion) were the most expensive categories of medical expenditures in the United States. There are more in the United States, where there are more than 40.7 million gastrointestinal outpatient visits each year. In 2017, the National Institutes of Health (NIH) funded US$1.8 billion for research on digestive diseases in the country, and the elderly are believed to be more susceptible to digestive diseases and chronic diseases. The increase in the global elderly population is expected to have a significant impact on the ligation device market.

In addition, the high adoption rate of minimally invasive surgery, especially for elderly patients, is expected to drive growth. According to the National Institutes of Health (NIH), the number of people over 65 in 2015 was 617 million, accounting for 8.5% of the total population. It is estimated that by 2050, this number will reach 1.6 billion. The above factors are expected to drive market growth during the forecast period.

APPLICATION INFORMATION : The gastrointestinal and abdominal surgery segment accounted for most of the market share in 2018 and is expected to dominate the market during the forecast period. The large market size is mainly due to the increasing prevalence of age-related diseases and the increasing demand for ligation devices in the treatment and diagnosis of gastrointestinal surgery. Due to the increase in the incidence of heart-related diseases and the increase in the number of operations, it is expected that the cardiothoracic part will grow at the fastest compound annual growth rate in the prognosis period. Ligation devices can also be used for open surgery, such as repairing defective heart valves or bypassing blocked arteries. In addition, more and more non-invasive heart surgeries are also driving market development. Patients with atrial fibrillation are usually recommended for a procedure called left atrial appendage closure. The pericardial ligation operation is used together with the ring device, which does not require open-heart surgery and minimizes postoperative complications. The aforementioned factors are expected to drive growth.

END- USE INSIGHTS: The hospital segment accounted for more than 75% of the market share in 2018. The main drivers of this segment are the increase in the number of procedures, the increase in healthcare expenditures, and the increase in the number of hospitals. According to the American Hospital Association (AHA), there were 6,200 active hospitals in the United States in 2017, up from 5,534 in 2016. The Outpatient Surgery Center (ASC) division also gained considerable market share in 2018. The highest compound annual growth rate during the forecast period. Factors contributing to the high growth include the increasing number of outpatient operations and the increasing use of minimally invasive procedures that do not require longer hospital stays. In addition, compared with the costs involved in performing the same procedures in hospitals, ASCs cost savings are 20% to 50%, which is also expected to drive market segment growth during the forecast period.

PRODUCT INFORMATION: The accessories segment accounts for more than 55% of the largest market share and is expected to expand at the fastest rate during the forecast period. The accessory part is further divided into clips and clip extractors. The clip segment dominated the market in 2018 and is also expected to record high growth rates. These clips are available in multiple sizes and can be used multiple times in a single procedure, and are expected to drive the growth of this segment. The applicator segment also has a considerable market share and is expected to grow at a compound annual growth rate of 5.99% during the forecast period. This section is further divided into disposable and reusable applicators. The reusable applicator represents the largest size on the market and is expected to dominate the market during the forecast period, mainly due to the use of the product in open and minimally invasive surgery.

PRCODECURE -TYPE INSIGHTS: Benefits such as fast recovery time and reduced postoperative costs. MIS surgery is also associated with a shorter hospital stay and a lower chance of readmission, surgical site infection, pain, and mortality. Other benefits, such as the need for small incisions and reduced blood loss during surgery, have also promoted the growth of the market segment. The open surgery sector accounted for a large portion of the ligation services market in 2018 and is expected to grow rapidly during the forecast period. The high growth rate is mainly attributable to the increase in the incidence of heart disease and the increase in the number of open heart operations. Ligation devices are used in many types of open heart surgery, such as coronary artery bypass grafting (CABG), aortic valve replacement, and mitral valve replacement.

According to the Adult Cardiac Surgery Database of the Association of Thoracic Surgeons, a total of 156,931 CABG operations were performed in the United States in 2016, which promoted the adoption of ligation devices.

REGIONAL OUTLOOK: North America will dominate in 2018 due to high treatment costs and increasing number of surgeries. In the same year, the United States led with a regional market share of more than 75.0%. In addition, the increase in public spending and the presence of major players have also promoted the growth of the market. In 2015, health care expenditures for gastrointestinal diseases reached US$135 billion, much higher than other common diseases. The Asia-Pacific region is expected to achieve the fastest growth during the forecast period. The high growth rate is mainly attributed to the increasing prevalence of gastrointestinal diseases, which can be treated with minimally invasive techniques using ligation devices. These devices are used in many endoscopic procedures.

Several Asian companies are focusing on developing specialized GI products and targeting emerging countries. For example, Japan Olympus, a manufacturer of endoscope equipment, has established a new factory in Vietnam and established multiple training centers in India and China.

MAJOR COMPANY AND MARKET SHARE PROSPECTUS : Participants focus on the release of new products to provide advanced patient services through ligation equipment. In August 2019, Medtronic Plc confirmed to reactivate its two product codes, namely Ligation Clip Applicator FF107 and Ligation Clip Applicator FFL112. Some of the major players in the ligation device market include: Medtronic Plc Johnson and Johnson (Ethicon) the Cooper Companies, Inc,CONMED Corporation, B Braun Melsungen AG ,Teleflex Incorporated, Olympus Corporation.

MARKET SEGMENTS COVERED BY THE REPORT : The report forecasts global, regional, and national revenue growth, and analyzes the latest industry trends in each sub-segment from 2015 to 2026. For the purpose of this research, Grand View Research has segmented the global ligation equipment market report based on product, application, program type, end use, and region: Product Outlook (Revenue, USD million, 2015-2026):AppliersDisposableReusableAccessoriesClipsClip RemoverApplication Outlook ( Revenue, millions of dollars, 2015-2026): Gastrointestinal and abdominal surgery, gynecological surgery, cardiothoracic surgery, urology, and other types of surgery prospects (income, millions of dollars, 2015-2026): MISOpen surgical end-use prospects (income, millions USD, 2015-2026): Hospital outpatient surgery center.

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