Ligation devices market to register a CAGR of 6.3%
NEW YORK, Feb. 18, 2019 /PRNewswire/ --
Ligation devices market to register a CAGR of 6.3% from 2019 to 2024
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). Emerging economies with growing healthcare expenditures are also expected to provide opportunities for the growth of the market.
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Accessories accounted for a significant share of the market in 2018
By product, the ligation devices market is segmented into handheld instruments and accessories.In 2018, the accessories segment accounted for the largest market share.
This segment is also expected to grow at the highest CAGR during the forecast period. The rising procedural volume of gastrointestinal and abdominal surgeries and increasing adoption of MIS are driving the growth of this product segment.
MIS procedures held the majority share in the ligation devices market in 2018
On the basis of procedure, the ligation devices market is segmented into MIS and open surgery.In 2018, the MIS segment accounted for the larger share of the ligation devices market.
The large share of this segment can be attributed to the rising adoption of MIS procedures over open surgical procedures. Additionally, increasing awareness regarding the advantages of MIS over open surgery is also expected to drive market growth.
North America dominated the ligation devices market in 2018
North America, which includes the US and Canada, accounted for the largest share of the ligation devices market.The large share of this market segment can be attributed to the increasing incidence of gastrointestinal diseases.
In addition to this, favorable reimbursement policies for MIS procedures in the region are also driving the growth of this market.
Breakdown of supply-side primary interviews, by company type, designation, and region:
• By Company Type: Tier 1 (20%), Tier 2 (45%), and Tier 3 (35%)
• By Designation: C-level (30%), Director-level (20%), and Others (50%)
• By Region: North America (35%), Europe (24%), Asia Pacific (25%), and RoW (16%)
Research Coverage
This report studies the ligation devices market based on products, procedures, applications, end users, and regions.The report also analyzes factors (such as drivers, opportunities, and challenges) affecting market growth.
It evaluates opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders.The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total ligation devices market.
The report forecasts the revenue of the market segments with respect to four major regions.
Reasons to Buy the Report:
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the ligation devices offered by the top 10 players in the ligation devices market. The report analyzes the ligation devices market by product, procedure, end user, application, and region
• Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the markets for various ligation devices across key geographic regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the ligation devices market
• Competitive Assessment: In-depth assessment of market shares and strategies of the leading players in the ligation devices market
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