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 2023 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 phenomenons in the global ligation devices market.
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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.
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Key Players of Ligation Devices Market Report:
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.
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