Ligation Devices Market Size, Share, Growth Analysis, By Application(gastrointestinal and abdominal applications, cardiovascular applications, gynaecological applications, urological applications), By Product(handheld instruments, applications, and accessories), By Region - Industry Forecast 2024-2031

Global Ligation Devices Market size was valued at USD 1.00 Billion in 2022 and is poised to grow from USD 1.06 Billion in 2023 to USD 1.70 Billion by 2031, at a CAGR of 6.1% during the forecast period (2024-2031).

Ligation is a surgical procedure that involves wrapping a ligature around a body duct, tube, or blood vessel. Endoscopic ligation is an effective treatment for protuberant lesions and is widely used to manage bleeding esophageal, gastric varices, and angiodysplasia. It is a viable treatment option for upper gastrointestinal lesions. It also lowers the risk of complications like perforation and haemorrhage.

The increase in surgical and minimally invasive procedures is expected to drive the growth. The growing number of gastrointestinal, gynaecological, urological, and cardiac surgery procedures that require ligation devices for diagnosis and treatment is also driving the market.

Furthermore, there has been a significant increase in the prevalence of aging-related diseases, as well as an increase in the demand for endoscopic procedures. Furthermore, the increase in the number of research and development activities associated with ligation devices, as well as the production of innovative, small laparoscopic instruments, will provide favourable opportunities for the growth of the ligation devices market.

Furthermore, rising demand from emerging markets, as well as an increase in the number of government initiatives to raise awareness about the benefits of these devices, will drive the growth rate of the ligation devices market in the future.

On the other hand, the high cost of the devices and the scarcity of skilled professionals will stymie market growth. Side effects of tubal ligation surgery, such as pelvic or abdominal pain, will also pose a challenge to the market for ligation devices. However, a lack of awareness will act as a restraint, slowing the rate of growth even further.

US Ligation Devices Market  is poised to grow at a sustainable CAGR for the next forecast year.