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Ligation Devices Market Analysis

  • Report ID: GMI3536
  • Published Date: May 2023
  • Report Format: PDF

gation Devices Market Analysis

Based on product, the ligation devices market is segmented as instruments and accessories. The accessories segment accounted for highest revenue share of over 56% and is anticipated to progress at a rapid pace during the analysis timeframe period. The accessories include a broad range of equipment such as applicators, cartridges, and reloads that are used in conjunction with ligation devices to facilitate surgical procedures. As the demand for ligation devices continues to rise, the accessories segment is expected to grow alongside it. This growth is mainly driven by factors such as the increasing number of surgical procedures, the growing demand for minimally invasive surgeries, and the rising prevalence of age-related diseases.
 

Based on procedure type, the ligation devices market is segmented as minimally invasive surgery and open surgery. The minimally invasive surgery segment projected to grow at fastest 6.2% CAGR from 2023-2032. This is attributed to several factors, including an increase in gastrointestinal and abdominal procedures and the growing popularity of minimally invasive surgeries (MIS). Compared to traditional open surgeries, MIS procedures offer numerous benefits such as reduced incisions, lower risk of complications, quicker recovery times, less scarring, and improved patient outcomes. As a result, these surgeries have gained widespread recognition in the medical community.
 

Global Ligation Devices Market Share, By Application

Based on application, the ligation devices market is segmented as gastrointestinal & abdominal surgery, gynecological surgery, cardiothoracic surgery, urological surgery, and others. The gastrointestinal & abdominal surgery segment accounted for the highest market share in 2022 and is anticipated to reach more than USD 689 million by 2032. The rising number of gastrointestinal and abdominal surgeries is driving demand for ligation devices that are commonly used in these procedures.
 

According to the Journal of Gastrointestinal Surgery, published in 2021, the study conducted by the American Board of Surgery to identify trends in abdominal surgery highlighted a steady increase in the number of laparoscopic procedures performed. Further, this study also revealed that minimally invasive surgery is increasingly preferred across a range of surgical specialties. As these surgeries become more common, the demand for ligation devices is expected to surge.  
 

Based on end-use, the ligation devices market is segmented as hospitals, ambulatory surgical centers, and others. The hospital segment was valued at over USD 690 million in 2022. This is majorly attributed to the increasing patient influx for endoscopic procedures, availability of advanced equipment, better medical accessibility, and the high volume of surgeries. As the hospital facilities seek to improve patient outcomes and reduce post-operative complications, the demand for ligation devices that are safe, effective, and easy to use is expected to increase. Additionally, as more hospitals adopt minimally invasive surgical techniques, the demand for ligation devices that are specifically designed for these procedures is further set to prove conducive for the market growth.
 

U.S. Ligation Devices Market,

U.S. ligation devices market is projected to reach more than USD 655 million by 2032. This high revenue surge is primarily pertaining to multiple factors including the rapidly aging population, rising preference for minimally invasive surgeries, and the increasing prevalence of abdominal ailments. For instance, as per the National Institute of Diabetes and Digestive & Kidney Diseases (NIDDK) in 2019, 60 to 70 million people were affected by digestive diseases that lead to more than 48 million ambulatory visits in the U.S. Further, approximately 5.4 million undergo diagnostic & therapeutic procedures and these medical procedures employ ligation devices. These statistics highlight that the rising patient pool is directly proportional to the ligation devices adoption.
 

Also, the GI & abdominal surgeries are on the rise. As per the National Endoscopy Database/Clinical Outcomes Research Initiative, in 2019, it is estimated that more than 20 million GI endoscopies are every year in the U.S. The other variables propelling the business growth include the presence of key market players, established healthcare facilities, supportive government initiatives, and a notable rise in the number of research collaborations.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Global Ligation Devices Market was valued at USD 1 billion in 2022 and will accrue over USD 1.8 billion by 2032 as a result of an increase in surgical procedures, especially minimally invasive procedures.

The ligation devices market from the accessories segment accounted for the highest revenue share of over 56% in 2022 fueled by the rising prevalence of age-related diseases and a wide range of equipment choices.

The gastrointestinal & abdominal surgery segment is anticipated to reach more than USD 689 million by 2032 owing to the growing number of these surgeries and the effectiveness of ligation in the procedure.

The U.S. ligation devices market share is slated to reach more than USD 655 million by 2032 attributed to a rapidly aging population, rising preference for minimally invasive surgeries, and the increasing prevalence of abdominal ailments in the region.

Ligation Devices Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 12
  • Tables & Figures: 448
  • Countries covered: 30
  • Pages: 200
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