[110 Pages Report] The ligation devices market is projected to reach USD 1,189 million by 2024 from USD 876 million in 2019, at a CAGR of 6.3% during the forecast period. Growth in this market is mainly driven by the increasing prevalence of diseases requiring surgical treatment, especially minimally invasive surgery (MIS).
By product, the ligation devices is segmented into handheld instruments and accessories. The accessories segment accounted for a share of 68.2% in 2018 and is anticipated to grow at a CAGR of 6.9% during the forecast period.
Based on applications, the ligation devices is segmented into gastrointestinal & abdominal surgeries, gynecological surgeries, cardiovascular surgeries, urological surgeries, and other applications such as wound, ENT, and cosmetic applications. The cardiovascular surgeries segment is anticipated to drive growth in the market at a CAGR of 6.9% over the forecast period.
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This growth can be attributed to the increase in the incidence of cardiovascular diseases. Additionally, with technological advancements in cardiovascular robotic surgery, the demand for ligation devices is anticipated to increase.
Some of the prominent players in the ligation devices market are are Ethicon (Johnson and Johnson) (US), Teleflex Incorporated (US), Olympus (Japan), Applied Medical (US), ConMed (US), Cooper Surgical (US), Genicon (US), Grena Think Medical (UK), B.Braun (Germany), and Medtronic (Ireland).