Innovations in Ligation Devices Serve as Hallmark for Market Growth

Helping healthcare practitioners achieve good tissue grip during surgeries and minimally invasive placement of ligation devices is becoming the key focus point for companies in the market landscape. Hence, companies in the ligation devices market are fine-tuning their engineering and technical expertise to improve medical outcomes. For instance, Micro Stamping Corporation— one of the pioneers in the manufacturing of ligation clips, are continually contributing to the growth of the ligation devices market, which is projected to advance at a CAGR of 6% during the forecast period.

Full-service contract manufacturers specializing in precision medical devices are relying on innovations as a hallmark for exponential growth of the business. They are reinvesting in technologies, equipment, and offering training to practitioners that help to improve patient quality of life. Manufacturers are producing ligation devices that are being increasingly used in endoscopic procedures.

ligation devices market infographic

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Disruptive Technologies in Emergency Medicine to Generate Incremental Opportunities

Apart from gynecological and urological surgeries, manufacturers in the ligation devices market are capitalizing on the demand arising from the varicose veins treatment. They are generating revenue streams by increasing production capabilities to develop self-ligating orthodontic brackets. On the other hand, precision ablation using vessel ligation devices is one of the key drivers contributing toward market growth. These novel devices help practitioners, especially in hospitals and clinics to conduct precision ablation using ultrasound waves. For instance, Novuson— one of the pioneers in direct therapeutic ultrasound technology, is focused on the development of their vessel ligation device capable of rapid and precise ablation with the help of ultrasound waves for improved hemostatic control.

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The ligation devices market is witnessing a transformation with the introduction of substantive innovations using advanced ligation devices targeted for vessel sealing and hemostasis. As such, the revenue of cardiovascular surgeries is estimated to reach the third-highest revenue amongst all applications in the market landscape.

Companies Overcome Issue of Negative Tissue Responses with Absorbable Polymer Ligation Devices

Permanent surgical sutures and other non-absorbable devices such as clips, cable ties, and staples are extensively used in various ligation applications. However, these devices may lead to issues such as negative tissue responses, resulting in infection, inflammation, and scar tissue formation. Hence, companies in the ligation devices market are innovating in devices made from absorbable polymers. For instance, Poly-Med Inc.— a biotechnology company in South Carolina, joined forces with Resorbable Devices AB, a specialist in surgical implants and resorbable polymers to develop LigaTie®, a device made from absorbable polymer and used in surgical procedures. As such, the revenue of minimally invasive surgical procedures is higher than that of open surgeries.

The ligation devices market is anticipated to reach a value of ~US$ 1.5 Bn by the end of 2028. This is evident since healthcare companies are advancing in R&D activities to innovate in ligation devices that prevent air leaks and blood loss when used for surgical procedures associated with lungs or airways.

Non-absorbable Polymer Clips Support Brain Scanning and Tumor Monitoring

Companies in the ligation devices market are increasing their production capabilities to develop devices made from implantable and non-absorbable polymers for tissue/vessel ligation. For instance, the U.K.-based medical device innovation company has an extensive portfolio in vascular products involving their VascuLok ligating polymer clip, which embodies non-erosive attributes for delicate tissue ligations. As such, the revenue of gynecological surgeries is estimated to reach the highest amongst all applications in the ligation devices market.

Novel non-absorbable polymer clips are pervasively replacing traditional thin metal clips that result in issues such as tissue damage and significant MRI/CT artefacts in scanning procedures for cancer surgery or neurosurgery. Advantages of ligation devices made with non-absorbable polymer clips are benefitting healthcare providers that help to secure fastening through integrated locking system. Companies in the market for ligation devices are increasing their production capacities to manufacture non-metallic clips that reduce incidence of MRI/CT artefacts and results in better brain scanning and tumor monitoring.

ligation devices market segmentation

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Analysts’ Viewpoint

Advanced left atrial appendage (LAA) closure devices are acquiring global recognition and play an instrumental role in surgical methods involving amputation of the appendage and ligation of the appendage from the epicardial side. Companies in the ligation devices market are increasing their research efforts to develop LAA closure devices to prevent clot formation during surgeries.

Current hemostatic and vessel ligation devices help to perform mechanical ligation and utilize high frequency electric currents to conduct surgical operations. However, conventional vessel ligation devices are challenged with limitations of tissue damage and can only be used in a limited range of applications. Hence, companies should develop technologically sound vessel ligation devices that deploy direct therapeutic ultrasound in order to carry out precision ablation for coagulation and hemostatic control.

Ligation Devices Market: Overview

  • According to Transparency Market Research’s latest research report on the global ligation devices market for the historical period (2018–2019) and the forecast period (2020–2028), increase in the number of minimally invasive surgical procedures performed is anticipated to drive the global ligation devices market in the near future
  • According to the report, the global ligation devices market was valued at US$ 913.6 Mn in 2019 and is projected to expand at a CAGR of 6% from 2020 to 2028

Increase in Number of Minimally Invasive Surgical Procedures Performed: A Key Driver

  • Ligation devices have been extensively utilized for minimal invasive surgeries in the field of gynecology, vascular disease, general surgery, laparoscopic procedures, and flexible endoscopic procedures
  • Minimally invasive surgery has been a highly preferred method of treatment in the last few years among healthcare providers across the world
    • According to the American Congress of Obstetricians and Gynecologists (ACOG), the percentage of minimally invasive hysterectomy procedures performed in the U.S. has increased from an estimated 14% in 2004 to 53% in 2013
  • Introduction of robot-assisted surgery has also driven the number of laparoscopic surgeries performed for different surgeries such as prostatectomy, colorectal cancer, and hernia repair
    • According to the American Society of Plastic Surgeons, an estimated 20 million surgical procedures were performed across the world in 2014, and 52% of these were minimally invasive surgeries
  • Increase in the number of laparoscopic surgeries performed each year is expected to drive the demand and subsequent consumption of ligation devices in the global market. This, in turn, is expected to propel the global ligation devices market during the forecast period.

Rise in Government Initiatives to Increase Access to Elective Surgery

  • Elective surgery is defined as a surgery subject to choice of a patient and does not involve medical emergency. Governments across the world have been actively supporting elective surgeries and investing for granting easy access to patients opting for these surgeries.
  • Increase in incidence of chronic diseases and rise in number of people undergoing surgeries is exerting financial and technological pressure on healthcare systems across the world, which is augmented by a lack of hospital beds and other resources
  • Therefore, regional governments are undertaking initiatives, such as funding and grants to various hospitals and organizations, to improve access to elective surgeries in order to reduce waiting times and indirect healthcare costs associated with medical emergencies
  • This is expected to propel the demand for ligation devices during the forecast period

 High Cost of Ligation Devices to Hamper Global Market

  • High price of ligation and other surgical devices in the healthcare industry exert a lot of burden on individuals and the health care system, as they struggle to bear the expenses to cover some of today’s highly expensive procedures
  • Insurance companies and government programs cover a portion of the expenses for patients. Individuals without health insurance face an even greater burden, making the rising cost of health care a big concern for everyone involved.
  • In the U.S., medical devices expenditure amounted to over US$ 170 Bn and accounted for about 6% of total national health expenditures of US$ 2.9 Trn in 2013
  •  The cost of medical devices sold in the U.S., especially implantable devices, is often greater than in that in other countries
  • Thus, the high cost of the ligation devices can restrain the market

Stringent Regulatory Requirements for Device Approvals and Product Recalls

  • Stringent regulatory requirements and long procedure for FDA approval have discouraged manufacturers of ligation devices in the U.S., who are looking at regions such as Europe and Asia to launch newer products
  • Moreover, a large number of ligation device recalls has had a significant effect on the sales of ligation devices and accessories in the market
    • In 2013, a class II recall was issued for SurgMaster electrosurgical unit, manufactured by Olympus

 Ligation Devices Market: Competition Landscape

  • This report profiles major players operating in the global ligation devices market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
  • The global ligation devices market is moderately fragmented, with the presence of a few large players in the international market and numerous small players in regional markets. The top four to five players hold major share of the global ligation devices market.
  • Prominent players operating in the global ligation devices market include 
    • Ethicon (Johnson & Johnson)
    • Medtronic Plc
    • B. Braun Melsungen AG
    • CONMED Corporation
    • Teleflex Incorporated
    • Olympus Corporation
    • Applied Medical
    • Genicon, Inc.
    • Grena Think Medical
    • Stryker
  • The report on the global ligation devices market discusses individual strategies, followed by company profiles of manufacturers of ligation devices. The ‘competition landscape’ section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global ligation devices market.

Ligation Devices Market- Scope of the Report

TMR’s report on the global ligation devices market studies the past as well as current growth trends and opportunities to gain valuable insights of these indicators for the market during the forecast period from 2020 to 2028. The report provides the revenue of the global ligation devices market for the period 2018–2028, considering 2019 as the base year and 2028 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global ligation devices market during the forecast period.

The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ device literature, annual reports, press releases, and relevant documents to understand the global ligation devices market.

Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various phenomenon in the global ligation devices market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on changing competitive dynamics in the global ligation devices market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global ligation devices market.

The report delves into the competitive landscape of the global ligation devices market. Key players operating in the global ligation devices market have been identified, and each one of them has been profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOTs are some of the attributes of players in the global ligation devices market that have been profiled in this report.

Key Questions Answered in the Ligation Devices Market Report

  • What is the scope of growth of devices and its companies in the ligation devices and its application sector?
  • What will be the Y-o-Y growth of the global ligation devices market between 2019 and 2027?
  • What is the influence of changing trends in technologies on the global ligation devices market?
  • Will North America continue to be the most profitable regional market for global primary immunodeficiency therapy providers?
  • Which factors will impede the growth of the global ligation devices market during the forecast period?
  • Which are the leading companies in the global ligation devices market?

Research Methodology

A unique research methodology has been utilized by TMR to conduct a comprehensive research on the growth of the global ligation devices market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary sources referred to by analysts during the global ligation devices market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, device portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to TMR’s study on the global ligation devices markets primary sources.

These primary and secondary sources have provided exclusive information during interviews, which serves as a validation from ligation devices market leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global ligation devices market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global ligation devices market more reliably and accurately.

Ligation Devices Market- Segmentation

Product

Ligation Devices

Accessories

Surgery

Minimally Invasive Surgery

Open Surgery

Application

Gynecology Surgery

Urological Surgery

Cardiovascular Surgery

Others

End User

Hospitals & Clinics

Specialty Centers

Others

Region

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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