SAN FRANCISCO, Dec. 11, 2019 /PRNewswire/ -- The global ligation devices market size is expected to reach $1.4 million by 2026 according to new report by Grand View Research, Inc., registering a 6.32% CAGR over the forecast period. The market is primarily driven by the increasing incidence of digestive system related diseases and increasing adoption of minimally invasive procedures. Technological advancements in the field of endoscopy which require ligation devices is also expected to drive the growth. Moreover, increasing healthcare spending in the field of gastrointestinal procedures is also fueling the market. Rise in the geriatric population prone to various digestive and chronic diseases is projected to contribute to the rising demand. According to the National Institutes of Health, in 2015, there were 617 million people over the age of 65 years and the number is projected to reach1.6 billion by 2050.
Key suggestions from the report:
- Europe captured second position in the ligation devices market in 2018, supported by favorable reimbursement policies, availability of ligation devices, and various government initiatives
- By product, accessories segment accounted for the largest market share in 2018, owing to low cost and high usage of the product
- By applier, reusable appliers are projected to continue dominating in near future owing to the rising use in both minimally invasive and open procedures
- By application, gastrointestinal and abdominal surgery segment captured the largest market share in 2018, owing to increasing prevalence of age-related digestive diseases
- Based on procedure type, minimally invasive procedures segment accounted for the largest market share of more than 65% in 2018 and is expected to maintain its dominance during the forecast period
- Few of the leading market players are Medtronic Plc; Johnson and Johnson (Ethicon); the Cooper Companies, Inc.; CONMED Corporation; B Braun Melsungen AG; Teleflex Incorporated; and Olympus Corporation. These players are focusing on new product launches to provide advanced services to the patients. In August 2019, Medtronic Plc confirmed the re-availability of its two product codes FF107- ligation clip applier, and FFL112-ligation clip applier
Read 110 page research report with ToC on "Ligation Devices Market Size, Share & Trends Analysis Report By Product (Appliers, Accessories), By Application (GIT, Gynecology, Cardiothoracic, Urology), By Procedure Type (MIS, Open), By End Use, And Segment Forecasts, 2019 - 2026" at: https://www.grandviewresearch.com/industry-analysis/ligation-devices-market
Increasing use of ligation devices in open surgeries such as coronary artery bypass, aortic valve replacement, and mitral valve replacement is expected to propel growth of the ligation devices market. According to the Society of Thoracic Surgeons Adult Cardiac Surgery Database, in U.S., 156,931 Coronary Artery Bypass Grafting (CABG) procedures were performed, in 2016. In addition, favorable reimbursement policies along with rising R&D expenditure is also adding to the growth of the market.
Grand View Research has segmented the global ligation devices market on the basis of product, application, procedure type, end use, and region:
- Ligation Devices Product Outlook (Revenue, USD Million, 2015 - 2026)
- Clip Remover
- Ligation Devices Application Outlook (Revenue, USD Million, 2015 - 2026)
- Gastrointestinal and Abdominal Surgery
- Gynecological Surgery
- Cardiothoracic Surgery
- Urological Surgery
- Ligation Devices Procedure Type Outlook (Revenue, USD Million, 2015 - 2026)
- Open Surgery
- Ligation Devices End Use Outlook (Revenue, USD Million, 2015 - 2026)
- Ambulatory Surgical Centers
- Ligation Devices Regional Outlook (Revenue, USD Million, 2015 - 2026)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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