The development of the ligation devices market is ascribed to mechanical progressions identified with ligation devices and expansion in flood in number surgeries, which require ligation devices for help with insignificantly intrusive methodology.
The development of the ligation devices market is ascribed to mechanical progressions identified with ligation devices and expansion in flood in number surgeries, which require ligation devices for help with insignificantly intrusive methodology.
The global ligation devices market was valued at $946.2 million in 2020, and is projected to reach $1,680.5 million by 2030, registering a CAGR of 6.1% from 2021 to 2030.
Rise in predominance of infections requiring ligation devices, flood in inclination to negligibly intrusive instruments, and expansion in medical services consumption drive the development of the global ligation devices market. Then again, excessive cost related with ligation gadgets hinder the development somewhat. Nonetheless, developing open doors in the creating economies have been helpful for the market development.
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COVID-19 scenario-
- Shortage of skilled workforce as well as limitation in required resources, especially during the initial stage of the pandemic, led to the postponement of elective surgical procedures, which in turn impacted the global ligation devices market negatively.
- However, with mass immunization drive onboard, the global situation is being ameliorated slowly, and the market is anticipated to revive soon.
Ligation devices are the set of instruments and accessories that help in binding a blood vessel or other tube in the body with a piece of medical graded thread or wire. Furthermore, these devices can also be utilized to remove or cut a specific part of the irregular tissue growth in the body. Ligation devices are very complex in nature and are designed to help assist during surgical procedures. These devices can be used in the management of conditions such as gastrointestinal problems, hemorrhoid development, left atrial appendage, and ureteral obstruction due to cardinal ligaments.
The global ligation devices market is analyzed across product, application, end user, and region.
Based on product, the handheld instruments segment held the major share in 2020, garnering more than two-thirds of the total market. The accessories segment, however, would cite the fastest CAGR of 6.9% during the forecast period.
By application, the gastrointestinal and abdominal surgeries segment accounted for nearly one-fifth of the total market revenue in 2020, and is anticipated to retain its dominance by 2030. The cardiovascular surgeries segment, on the other hand, would grow at the fastest CAGR of 7.7% from 2021 to 2030.
By end user, the hospitals segment is anticipated to gain the highest revenue during the forecast period, owing to the surge in number of outpatients and inpatients preferring hospitals and higher investment of hospitals for getting improved accessories for ligation and related surgical procedures.
Based on region, the market Asia-Pacific contributed to the major share in 2020, holding nearly two-fifths of the global ligation devices market. The same region would also grow at the fastest CAGR by 6.8% from 2021 to 2030. The other provinces studied in the report include North America, Europe, and LAMEA.
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The Major Key Players Are:
Ethicon (Johnson and Johnson), Teleflex Incorporated, Olympus Corporation, Applied Medical, ConMed Corporation, Cooper Surgical, Genicon, Inc., Grena Think Medical, B.Braun Melsungen AG, and Medtronic PLC.
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