Ligation Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The major factors propelling the growth of the ligation devices market are the high prevalence of cardiovascular and urological diseases, an increasing number of minimally invasive procedures, and bariatric surgeries.

According to a survey conducted by European Heart Network in 2017, 3.9 million deaths in Europe are due to cardiovascular diseases. As the incidence of the diseases which require minimally invasive surgeries increases the growth of the ligation devices. Furthermore, favorable compensation policies, increasing healthcare expenditure, and growing research and development expenditures are the other factors driving the market growth. However, the high cost of the ligation instruments and the accessories is the major restraint to the growth of the market.

Key Market Trends

Accessories Segment of the Ligation Devices Market Holds the Major Market Share

The ligation accessories segment by-product is expected to hold the largest market share over the forecast period. The rising gastrointestinal and abdominal procedures, increasing trend of minimally invasive surgeries(MIS) are the major factors for the growth of this segment. MIS procedures have gained widespread clinical recognition because of their advantages over open surgeries, such as fewer incisions, a smaller number of postoperative complications, faster recovery, fewer scars and blood loss, and greater patient outcomes. The increasing awareness as regards to the advantages of minimally invasive surgeries over open surgery is also expected to drive market growth.

According to the American College of Cardiology (2017), Cardiovascular disease accounts for the 800,000 deaths in the United States, as the incidence of diseases that require surgeries increasea around the world, the market will witness significant growth.

North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to dominate the overall ligation devices market, throughout the forecast period. The ligation devices market in the region is propelled by an increase in the prevalence of urological diseases such as chronic kidney diseases and cardiovascular diseases.

According to the National Center for Chronic Diseases Prevention and Health Promotion, the United States had 30 million citizens suffering from chronic kidney diseases in 2017. The other factors driving the market growth are the presence of key players, established healthcare infrastructure. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase the market growth.

Competitive Landscape

The ligation devices market is moderately consolidated and consists of several major players. Most of the major players are focusing on growing their businesses in developing regions to boost their market share. Some of the market players are Johnson & Johnson, Medtronic plc, Teleflex Incorporated, Olympus Corporation, Applied Medical, ConMed, Cooper Surgical, and B.Braun.

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