Ligation Device Market | Growing at a CAGR of 6.3%

Ligation Device Market | Growing at a CAGR of 6.3% | Global Forecast to 2024

(IT-NEWSWIRE.COM, September 04, 2019 ) According to the new market research report "Ligation Devices Market by Product (Hand-held Instruments, Accessories), Procedure (Minimally Invasive & Open Surgery), Application (Gynaecology, GIT, Cardiothoracic, Urology), End User (Hospital, Nursing Homes) - Global Forecast to 2024", published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).

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The ligation devices market is segmented into handheld instruments and accessories. In 2018, the accessories segment accounted for the largest share of the market. The large share of this product segment can be attributed to the increasing volume of surgical procedures resulting in high demand for accessories.

The ligation devices market 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.

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.

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The ligation devices market is segmented into hospitals and other end users. The hospitals segment accounted for the largest market share in 2018 while the other end users’ segment is projected to grow at the highest CAGR during the forecast period. The large volume of surgical procedures performed in hospitals is the major factor driving the growth of this segment.

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Key Players
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).

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Ligation Device Market | Growing at a CAGR of 6.3% | Global Forecast to 2024