Ligation Devices Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3536
Ligation Devices Market size is expected to grow significantly from 2019 to 2025.
Rising adoption of ligation devices coupled with technological advancements fosters the ligation devices market growth. Introduction of technologically advanced devices in industry has improved patient’s convenience. Moreover, cost effective devices are being introduced in the industry should propel the ligation devices business growth. Increasing demand for detection of different illness including abdominal and gastrointestinal among others boosts ligation devices industry growth. Additionally, several manufactures are focusing on detection devices that further upsurge business revenue share.
Increasing burden of chronic diseases in developing and developed economies will drive ligation devices market growth. According to data published on American Heart Association, around 91 million Americans are detected with some form of cardiovascular disease. Also, such diseases accounts for maximum deaths in America every day. Increasing prevalence of chronic diseases will surge the demand for several non-surgical and surgical interventions. Thus, rising number of these diseases globally are factors that will accelerate ligation devices industry growth. However, high cost of ligation devices may hamper the overall ligation devices market growth.
Hand-held devices segment is anticipated to witness robust growth during the analysis timeframe. Segmental demand is attributed to rising demand for handheld ligation devices in intensive care units along with operating rooms. Emphasis of manufacturers on development of advanced handheld products fosters the business growth.
Minimally invasive segment will grow considerably during the forecast timeframe owing to increasing patient pool towards tiniest incision. Advancements in precise control systems as well as guidance systems boosts the segmental growth. Benefits such as lower clinic stay’s and less invasion will increase patient preference for minimally invasive thus fostering segmental growth.
Urology segment will witness substantial growth during the analysis timeframe. Urologic ligation device provides accurate health information for effective patient care and management. Numerous organizations aim’s on developing such devices for urology diseases. For instance, LigaSure by Medtronic is extensively used for easy detection thus fostering segmental growth.
Nursing homes segment is projected to witness tremendous growth over forthcoming years. Ligation devices can manage patient health more precisely with available devices at nursing centers. Rising patient preferences towards these centers for quick services and nutrition management that further propels the segmental growth.
North America ligation devices industry will account for lucrative revenue share by 2025 owing to increasing focus of manufactures on such devices. Moreover, rising prevalence of cancer along with increasing healthcare expenditures in this region accelerates the business growth. Additionally, favorable reimbursement scenario for several surgeries for better patient outcome proves beneficial for the regional growth.
Eminent industry players operating in ligation devices market include Applied Medical Resources, Conmed, CooperSurgical, Medtronic, Grena Think Medical, Johnson & Johnson, Teleflex, Olympus, GENICON and B. Braun. Foremost industry players working in this industry adopt numerous in-organic strategies to compete in the market and to have competitive edge over other companies should boost the industry growth. For instance, in April 2018, CooperSurgical acquired the LifeGlobal Group a global leader in in-vitro fertilization devices. This acquisition has enhanced firm’s presence in gynecology.
Ligation Devices Market By Product, 2014-2025 (USD Million)
- Hand-held Instruments
Ligation Devices Market By Surgery, 2014-2025 (USD Million)
- Minimally invasive surgery
- Open surgery
Ligation Devices Market By Application, 2014-2025 (USD Million)
- Gastrointestinal disorders
Ligation Devices Market By End-use, 2014-2025 (USD Million)
- Ambulatory surgical centers
- Nursing homes
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Applied Medical Resources
- B. Braun
- Grena Think Medical
- Johnson & Johnson
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