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The global Ligation Devices Market size is expected to reach $1.7 billion by 2029 according to new report by Grand View Research, Inc., registering a 6.2% CAGR over the forecast period. The market is primarily driven by the increasing incidence of digestive system related diseases and increasing adoption of minimally invasive procedures. Technological advancements in the field of endoscopy which require ligation devices is also expected to drive the growth. Moreover, increasing healthcare spending in the field of gastrointestinal procedures is also fueling the market. Rise in the geriatric population prone to various digestive and chronic diseases is projected to contribute to the rising demand. According to the National Institutes of Health, in 2015, there were 617 million people over the age of 65 years and the number is projected to reach1.6 billion by 2050.
Increasing use of ligation devices in open surgeries such as coronary artery bypass, aortic valve replacement, and mitral valve replacement is expected to propel growth of the ligation devices market. According to the Society of Thoracic Surgeons Adult Cardiac Surgery Database, in U.S., 156,931 Coronary Artery Bypass Grafting (CABG) procedures were performed, in 2016. In addition, favorable reimbursement policies along with rising R&D expenditure is also adding to the growth of the market.
Related Press Release@ Ligation Devices Market Report
List of Key Players in Ligation Devices
Ligation Devices Market Report Highlights
Ligation Devices Market Segmentation
Grand View Research has segmented the global ligation devices market on the basis of product, application, procedure type, end use, and region:
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