Ligation Devices Market to grow 5.20% CAGR during the Forecast Period 2022 to 2030

Pune, India, 2022 /MRFR Press Release/- Market Research Future published a half-cooked research report on the global ligation devices market.

Market research future will be publishing a Half cooked research report on “Global Ligation Devices Market” that contains the information from 2022 to 2030. 

Market Highlights

The Ligation Devices Market is projected to reach USD 586.12 Million by 2030 at 5.20% CAGR during the forecast period 2022-2030. Ligation devices are used during surgeries for closing incisions or to join separated organs/tissue parts. Favorable reimbursement policies, rising healthcare expenditure, an increasing number of surgeries, and growing research and development expenditures are the factors driving the market growth. According to the Centers for Disease Control and Prevention in 2017, Coronary heart disease (CHD) was estimated to be the most common type of heart disease within the US and was projected to cause 370,000 per year. However, the high cost of surgery and related side effects are estimated to restraint the market growth.

Key Players

Some of the key players in the global ligation devices market are Medtronic, Johnson & Johnson, The Cooper Companies, Inc., Conmed Corporation, B. Braun Melsungen AG, Teleflex Incorporated, Olympus Corporation, Applied Medical Resources Corporation, Grena Think Medical, Genicon, Inc., and others.

Segmentation

The global ligation devices market is segmented based on product, procedure, application, end user, and region.

On the basis of product, the market is segmented into handheld instruments and accessories. Based on procedure, the market is segmented into minimally invasive surgery and open surgery. The application segment is segmented into gastrointestinal and abdominal applications, cardiovascular applications, gynecological applications, urological applications, and others. Based on the end user, the market is segmented into hospitals & clinics, ambulatory surgical center, and others.

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Ligation Devices Market Research Report

Regional Analysis

The Americas dominated the global ligation devices market in 2018. Factors such as increasing healthcare expenditure and the rising incidence of chronic diseases are the major drivers within the region.

In 2018, it was estimated that Europe stood second in the global ligation devices market owing to increasing awareness, government support, development of technologically advanced medical products, and a growing number of surgeries. Moreover, the presence of developed economies (Germany, France, UK) boosts the market growth.

Asia-Pacific was the fastest growing region for the global ligation devices market in 2018. Factors such as increasing healthcare infrastructure, favorable government policies, an increasing number of surgeries and rising medical tourism drive the market growth within the region. According to the Indian Brand Equity Foundation in 2017, the Indian healthcare sector was estimated to be one of the fastest growing industries and is estimated to reach USD 280 billion by 2020 with a CAGR of 22.87% from 2015.

On the other hand, the Middle East and Africa held the least share in the global ligation devices market. Factors such as the presence of poor economies and low per capita income, especially within the African region make the market to lag within the region.