Transparency Market Research’s most recent study on the worldwide ligation devices market, covering both historical (2018–2019) and projected (2020–2028) periods, suggests that the anticipated surge in minimally invasive surgeries will be a key driver for market growth. The report indicates that the global ligation devices market reached a valuation of US$ 913.6 million in 2019, with a projected Compound Annual Growth Rate (CAGR) of 6% to reach a value of ~US$ 1.5 Bn from 2020 to 2028.
Innovations in Ligation Devices Serve as Hallmark for Market Growth
In the ligation devices market, companies are prioritizing improving tissue grip and facilitating minimally invasive procedures. This focus drives them to enhance engineering and technical capabilities for better medical outcomes. For instance, Micro Stamping Corporation, a leading manufacturer of ligation clips, contributes to market growth. The market is expected to grow at a 6% CAGR. Additionally, full-service contract manufacturers specializing in precision medical devices are innovating to drive business growth. They invest in technology, equipment, and practitioner training to enhance patient quality of life, with ligation devices finding increased use in endoscopic procedures.
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Competition Landscape:
Ethicon (Johnson & Johnson),Medtronic Plc,B. Braun Melsungen AG,CONMED Corporation,Teleflex Incorporated,Olympus Corporation,Applied Medical,Genicon, Inc.,Grena Think Medical,Stryker
Ligation Devices Market- Segmentation
Product
- Ligation Devices
- Accessories
Surgery
- Minimally Invasive Surgery
- Open Surgery
Application
- Gynecology Surgery
- Urological Surgery
- Cardiovascular Surgery
- Others
End User
- Hospitals & Clinics
- Specialty Centers
- Others
Disruptive Technologies in Emergency Medicine to Generate Incremental Opportunities
In addition to gynecological and urological surgeries, manufacturers in the ligation devices market are seizing opportunities presented by the demand for varicose veins treatment. They are expanding their production capabilities to meet the growing need for self-ligating orthodontic brackets, thereby generating additional revenue streams. Moreover, precision ablation facilitated by vessel ligation devices stands out as a significant driver propelling market expansion. These innovative devices enable healthcare practitioners, particularly in hospitals and clinics, to perform precise ablation procedures using ultrasound waves. For instance, Novuson, a leading innovator in direct therapeutic ultrasound technology, is dedicated to enhancing their vessel ligation device. This device aims to achieve rapid and accurate ablation, leveraging ultrasound waves to enhance hemostatic control during surgical interventions.
Regions Covered:
North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)
Market Drivers and Challenges:
- Drivers: Technological advancements in surgical procedures, increasing prevalence of chronic diseases, growing demand for minimally invasive surgeries, expanding healthcare infrastructure.
- Challenges: High cost associated with advanced ligation devices, stringent regulatory requirements, lack of skilled professionals in some regions.
Market Trends:
- Adoption of robotic-assisted surgical techniques.
- Development of bioabsorbable ligation devices.
- Increasing collaborations and partnerships among key players.
Future Outlook: The ligation devices market is expected to witness continued growth during the forecast period, driven by ongoing technological innovations, increasing demand for minimally invasive procedures, and the expansion of healthcare facilities in emerging economies.
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