Ligation Devices Market - By Product (Instruments, Accessories), By Procedure Type (MIS, Open Surgery), By Application (Gastrointestinal & Abdominal Surgery), By End-use & Forecast, 2023 – 2032
Published Date: August - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationLigation Devices Market - By Product (Instruments, Accessories), By Procedure Type (MIS, Open Surgery), By Application (Gastrointestinal & Abdominal Surgery), By End-use & Forecast, 2023 – 2032
Ligation Devices Market Size
Ligation Devices Market size was valued at around USD 1 billion in 2022 and is projected to reach over USD 1.8 billion by 2032. This is driven by rising number of gastrointestinal, gynecological, urological, and cardiac surgery procedures.
For instance, according to the National Centers of Biotechnology Information (NCBI), in 2018, around 9.6 million inpatient procedures were conducted and approximately 11.2% were minimally invasive, indicating a considerable increase in the recent years. The growing demand for ligation devices for the treatment of gastrointestinal, gynecological, urological, and cardiac surgeries is further set to propel the business growth.
Also, the prevalence of age-related diseases and the increasing need for endoscopic procedures that require ligation devices are further accelerating the market growth. Additionally, technological advancements and product launches in the ligation devices business space are anticipated to propel the industry growth.
Imagine you're a surgeon performing a delicate operation. You need to stop blood from gushing out or close off a tiny tube. That's where ligation devices come in – they're like the superglue of surgery. These magical gadgets are used in all kinds of surgeries, from tummy troubles to heart repairs. They're like tiny clamps, bands, or stitches that can seal off blood vessels, ducts, or other tubes with lightning speed. And get thisthey even have special versions for those tricky surgeries where you only have a tiny keyhole to work with. The best part? They're designed to be super safe and super effective. So, you can focus on the surgery while these little lifesavers take care of the bleeding.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Ligation Devices Market Size in 2022 | USD 1 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 5.7% |
| 2032 Value Projection | USD 1.8 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 200 |
| Tables, Charts & Figures | 448 |
| Segments covered | Product, Procedure Type, Application, End-use, and Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
The high cost of ligation devices may negatively impact the market expansion, as it may limit the affordability and accessibility of these devices for some patients & healthcare providers, especially in the emerging economies. While ligation devices are considered essential medical devices in many surgical procedures, the high cost of these devices may make them prohibitively expensive for some healthcare facilities and patients.
In addition, the cost of ligation devices may also be a barrier to market development, as healthcare providers may opt for lower-cost alternatives that could limit the demand for these devices. Moreover, certain potential complications associated with the use of these devices might impede the market revenue progression. Certain commonly observed complications associated with the use of ligation devices include bleeding, infection, tissue damage, allergic reactions, and device failure.
COVID-19 Impact
The recent outbreak of COVID-19 had negatively influenced the ligation devices market revenue surge, specifically during the first half of 2020. The incremental demand for COVID-19 testing has had a significant impact on the surgical services and reduced the procedural volume that hampered the product adoption. Due to the risk of infection, many patients postponed endoscopic procedures along with other medical procedures.
Additionally, movement restrictions and disruptions in the supply chain have led to challenges in product distribution, further impacting the revenue of several industry players in fiscal year 2020. The developments, majorly defined by the reduced procedural volume negatively hampered the market growth in 2020. However, the reduced incidence of COVID-19 cases and collaborated efforts undertaken by major players are set to benefit the market progress.
Ligation Devices Market Trends
As people become more aware of the benefits of minimally invasive procedures, the demand for these procedures is expected to skyrocket. Instead of cutting patients open, doctors use special tools to perform surgeries with much smaller incisions. These surgeries typically result in less pain, shorter hospital stays, and less blood loss. Plus, there's a lower risk of infection and complications. It's no wonder that patients are opting for minimally invasive surgeries whenever possible. They mean faster recovery and a reduced risk of major problems.
Moreover, ongoing developments have favoured the evolution of surgical procedures that incorporate ligation devices and are associated with a less invasive nature in the treatment of related ailments. Also, the rising preference and awareness pertaining to minimally invasive procedures among the exponentially growing geriatric population is expected to augment the market progression.
Ligation Devices Market Analysis
When it comes to ligation devices, the market is basically divided into two typesthe devices themselves and the accessories used with them. The accessories part has been the star of the show, making up more than half (56%) of the revenue so far. And it's not slowing down anytime soon, it's expected to keep growing like crazy in the coming years. These accessories are like the sidekick superheroes to ligation devices, helping them get the job done during surgeries. They include things like applicators, cartridges, and reloads. As more and more people need surgery, the demand for both ligation devices and their accessories is going to keep skyrocketing. This is because there are more surgeries happening, people are choosing less invasive surgeries, and there are more older people who often need surgeries.
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.
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.
Who buys ligation devices? Well, it's mostly hospitals. They spent over $690 million on them in 2022. Why? First, more people are getting endoscopic procedures, where doctors use a camera to look inside your body. Second, hospitals have access to the latest and greatest equipment. Third, more people have health insurance, so they can afford to go to the hospital. Fourth, hospitals do lots of surgeries, and ligation devices are needed for those. Hospitals want to help patients get better faster and avoid problems after surgery. So, they're looking for ligation devices that are safe, work well, and are easy for doctors to use. As more hospitals start doing surgeries that are less invasive, they'll need ligation devices that are made especially for those types of procedures. That's why the market for ligation devices is expected to grow in the future.
The medical device market in the US is predicted to soar to over 655 million dollars by 2032. This impressive growth is largely driven by several key factors. Firstly, our population is getting older, and with age comes a higher likelihood of developing health issues. Secondly, people are increasingly opting for minimally invasive surgeries to address these problems. These procedures involve smaller incisions and cause less pain, making them more appealing to patients. Another factor contributing to the rise in ligation devices usage is the growing number of people experiencing digestive issues. In the US alone, over 60 million people suffer from these conditions. As more and more people need these medical procedures, the demand for ligation devices is bound to increase. This is why the market is expected to continue expanding in the coming years.
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.
Ligation Devices Industry Leaders
Some of the major players operating in the ligation devices market are
- Medtronic Plc
- Johnson and Johnson (Ethicon)
- Cooper Surgical (the Cooper Companies, Inc.)
- CONMED Corporation
- B Braun Melsungen AG,
- Teleflex Incorporated
These leading market players are implementing advanced technologies to cater to the large unmet needs of the consumers. These players focus on strategic partnerships, new product launch & commercialization for market expansion.
Ligation Devices Industry News
- In June 2021, Johnson & Johnson Medical Devices Companies announced the launch of the ECHELON CIRCULAR Powered Stapler with Tri-Staple technology that includes a ligation device, for use in colorectal, gastric, and thoracic surgical procedures. This launch helped the company to introduce innovative products, further offering a competitive edge.
- In December 2020, ConMed Corporation announced a collaboration with PhyzioTech, Inc. to develop and commercialize a suite of minimally invasive surgical tools, including ligation devices, for the treatment of pelvic floor disorders. This product launch helped the company to strengthen its product portfolio across the market.
Ligation devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments
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By Product, 2018 - 2032 (USD Million & Units)
- Instruments
- Accessories
By Procedure Type, 2018 - 2032 (USD Million)
- Minimally Invasive Surgery
- Open Surgery
By Application, 2018 - 2032 (USD Million)
- Gastrointestinal and Abdominal Surgery
- Gynecological Surgery
- Cardiothoracic Surgery
- Urological Surgery
- Others
By End-use, 2018 - 2032 (USD Million)
- Hospitals
- Ambulatory Surgical Centers
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Poland
- Switzerland
- The Netherlands
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Philippines
- Vietnam
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Israel
- Egypt
- Turkey
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