Johnson & Johnson (Ethicon) and Medtronic (Covidien) are leading players in Ligation Devices Market
The ligation devices market is expected to reach USD 1,189 million by 2024 from USD 876 million in 2019, at a CAGR of 6.3%. Growth in this market is mainly driven by the increasing prevalence of diseases requiring surgical treatment, especially minimally invasive surgery (MIS). However, the high cost of ligation devices is a major restraint for this market, particularly in emerging countries.
The ligation devices market is highly consolidated in nature, with a few players offering a variety of products. The major players operating in this market are Ethicon (Johnson and Johnson) (US), Teleflex Incorporated (US), Olympus (Japan), Applied Medical (US), ConMed (US), Cooper Companies (US), Genicon (US), Grena Think Medical (UK), B.Braun (Germany), and Medtronic (Ireland). The key growth strategies followed by most companies in the ligation devices market are expansions and agreements. These two strategies accounted for the largest share of the overall growth strategies mapped from 2015 to 2018.
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Johnson & Johnson (Ethicon) is the largest player in the ligation devices market. The company focuses on developing devices, consumables, accessories, and software required to perform minimally invasive surgeries and open surgeries. The company has a complete portfolio of multiple clips and single clips in addition to its electrosurgical devices. The company also invests a significant amount on research and development activities. In 2018, it spent ~7% of its revenue on R&D activities.
Medtronic (Covidien) is a major player in the ligation devices market. The company operates in four major segments, namely, Cardiac & Vascular Group, Restorative Therapies Group, Minimally Invasive Therapies Group, and Diabetes group. The company offers the LigaSure vessel sealing system, open ligation devices, and handheld ligature devices through its Minimally Invasive Therapies Group. The company has a global distribution network and a good brand reputation among end users. The company’s strong presence and wide distribution channels across the globe have helped it to maintain its leading position in the ligation devices market.
Related Reports:
Ligation Devices Market by Product (Hand-held Instruments, Accessories), Procedure (Minimally Invasive & Open Surgery), Application (Gynaecology, GIT, Cardiothoracic, Urology), End User (Hospital, Nursing Homes) - Global Forecast to 2024
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