Global Band Ligators Market: Overview
Band ligators are surgical devices used for ligation of deep vessels and inaccessible parts. The medical device allows gastroenterologists to look into the oesophagus and rectal walls to detect tumors or hemorrhoids and remove them from the body. It is an outpatient procedure performed with or without a stent. However, depending on the skill and experience of the surgeon, endoscopy ligators can be used for virtually any hemorrhoids of any size. Endoscope with ligators is used for visualization of internal hemorrhoids in the rectum. Patients who are pregnant, morbidly obese, or have a blood clotting disorder can opt for band ligators in the treatment procedure. Increase in incidence of hemorrhoids among the adult population and rise in adoption of single use devices are likely drive physician preference for treating patients with ligators. Moreover, technological developments in endoscopic diagnostic techniques and development of medical sensors are paving the way for early diagnosis and treatment of hemorrhoids diseases.
Global Band Ligators Market: Trends and Opportunities
Rise in prevalence of diseases such as colon cancer and anal cancer, increase in the geriatric population, and surge in research and development initiatives are projected to drive the global band ligators market. Moreover, adverse effects of laser treatment procedures on hemorrhoids, rise in government funding, improving hospital infrastructure, and aggressive marketing by medical device companies propel the global market. Favorable reimbursements and novel treatment procedures are anticipated to boost the growth of the global band ligators market during the forecast period. However, undesired systemic effects of current band ligators and high cost of endoscopic ligation treatment are expected to restrain the global market during the forecast period.
Global Band Ligators Market: Segmentation
The global band ligators market can be segmented based on product type, usage type, end-user, and region. In terms of product type, the market can be classified into endoscopic ligators, non-endoscopic ligators, multiple band ligators, and others. Based on usage type, the global band ligators market can be bifurcated into disposable and non-disposable. Disposable ligators are used frequently. The segment is likely to grow at a rapid pace owing to increase in incidence of hemorrhoids and rise in hospital admissions due to rectal pain which occurs among middle-aged population. Rise in unhealthy food habits is a major factor for the growth of hemorrhoids diseases. This is likely to propel the global band ligators market in the near future. In terms of end-user, the market can be divided into hospital, ambulatory surgical centers, clinics, and others. In terms of region, the global market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Global Band Ligators Market: Regional Analysis
North America dominated the global band ligators market in 2017 due to the adult population suffering from eating disorders, increase in the number of devices receiving regulatory approvals, and rise in demand for new and advanced devices for clinical tests. Increase in incidence of rectal diseases and early phase diagnosis of hemorrhoids drive the pharmaceutical and medical devices markets. This in turn is projected to augment the band ligators market in North America. Europe was the second largest market for band ligators in 2017 due to favorable government policies for the development of health care infrastructure. Expansion of research and development units and clinical labs in countries in Europe is also a major factor expected to drive the band ligators market in the region. The market in Asia Pacific is likely to expand at a high CAGR during the forecast period. Rise in awareness among patients about hemorrhoids diseases and overactive rectal problems and increase in per capita expenditure are projected to fuel the growth of the band ligators market in Asia Pacific. Additionally, economic growth in India and China that supports the health care infrastructure and expansion of pharmaceutical companies and biotech labs are likely to accelerate the growth of the band ligators market in Asia Pacific from 2018 to 2026.
Global Band Ligators Market: Companies Mentioned
Major players operating in the global band ligators market are Medline Industries, Inc., Cook Medical LLC, Johnson & Johnson (Ethicon), Integra LifeSciences Corporation, Medtronic plc, CONMED Corporation, Cantel (UK) Limited, Boston Scientific Corporation, Explore Synergy, and Wellspect HealthCare, among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.