The global surgical snares market is projected to reach an approximate value of USD 1.7 billion by 2028, growing at a CAGR of 5.0%. Rise in prevalence of gastrointestinal disorders coupled with growing demand for minimally invasive procedures are factors driving the surgical snares market.
Adroit Market Research report on global surgical snares market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for historic years from 2018 and 2019, with the base year of estimation as 2019 and forecast from 2020 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market based on Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global surgical snares market have been studied in detail.
Surgical snares are medical instruments used to remove growths from tissue surfaces, usually when the growths are inside a body cavity. Typical growths addressed with surgical snares include tumors, polyps, and lymphoid tissue (tonsils). Surgical snares enable general and specialty surgeons to reach and remove tissue growths that are often in difficult to reach places. Surgical snares are available in different designs for specific applications. These include ear snares, nasal snares, and tonsils. Increase in gastrointestinal disorders, growing number of endoscopic procedures, and rapidly growing demand for minimally invasive surgeries owing to faster recovery, shorter hospital stay and reduced costs is expected for robust market expansion in the coming few years.
The global surgical snares market has been segmented based on usability, application, end-users, and region. Based on usability, the global surgical snares market is categorized into single-use surgical snares, and reusable surgical snares. Reusable surgical snares segment dominated the global market in 2019. Single-use surgical snares segment is anticipated to grow at a rapid pace over the forecast period. On the basis of application, the global surgical snares market is segmented into gastrointestinal (GI) endoscopy, urology endoscopy, laparoscopy, bronchoscopy, arthroscopy, obstetrics/gynecology endoscopy, mediastinoscopy, laryngoscopy, neuroendoscopy, and others. On the basis of end-users, hospitals and clinics segment grabbed dominant share of the market in 2019 owing to an increasing number of polypectomy procedures carried out in hospitals, large patient pool, availability of wide range of surgical instruments, including snares, along with growing prevalence of major chronic diseases that require surgery.
North America dominated the global surgical snares market in 2018. High prevalence of colorectal cancer, surging procedural volume in the U.S. and presence of well-established market players in the region are key factors likely to drive the growth of the market in the next few years. According to American Cancer Society, colorectal cancer is the third most frequently diagnosed cancer, with 101,420 new cases diagnosed in 2019. However, Asia Pacific surgical snares market is anticipated to grow at a rapid pace over the forecast period. Presence of large population, increase in number of endoscopic procedures, rapidly increase in stomach and esophageal cancers, increase in number of hospitals in the developing countries will fuel the need for endoscopy equipment thereby accelerating the growth of the market over the coming years.
Major players operating in the global surgical snares market include Olympus, Boston Scientific Corporation, CONMED Corporation, Medtronic plc, Cook Medical, Merit Medical Systems, Avalign Technologies, Steris, Medline Industries, and Sklar Surgical Instruments among others.
Key Segments of the Global Surgical Snares Market
Usability Overview, 2018-2028 (USD Million)
- Reusable Surgical Snares
- Single-use Surgical Snares
Application Overview, 2018-2028 (USD Million)
- Gastrointestinal (GI) Endoscopy
- Urology Endoscopy
- Obstetrics/Gynecology Endoscopy
End-users Overview, 2018-2028 (USD Million)
- Hospitals & Clinics
- Ambulatory Surgical Centers
Regional Overview, 2018-2028 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa