According to Data Bridge Market Research new Market report, global surgical snare market will account to an estimated USD 992 million in 2018 growing at a CAGR of 5.10% during the forecast period of 2019 to 2026.
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Global Surgical Snare Market:
Surgical snare is a type of medical device that includes a hoop like structure of wire that is used to isolate and tighten the surroundings of tumors inside a body cavity. They are majorly utilized in surgical and endoscopic procedures for the isolation and extraction of samples of tumor present in the body.
Segmentation: Global Surgical Snare Market
Global surgical snare market is segmented on the basis of usability, application, end-user and geography.
By Usability (Reusable, Single-Use), Application (Gastrointestinal Endoscopy, Laparoscopy, Gynecology/Obstetrics Endoscopy, Arthroscopy, Urology Endoscopy, Bronchoscopy, Mediastinoscopy, Otoscopy, Laryngoscopy, Retinal Endoscopy, Neuroendoscopy, Others), End-User (Hospitals, Ambulatory & Surgical Centers, Others) and Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
FACTORS DRIVING GROWTH IN SURGICAL SNARE MARKET
Rising Geriatric Population
According to United Nations Department of Economic and Social Affairs/Population Division; in 2017, estimated population of people with age 60 or above was 962 million, which means around 13 per cent of the population. This age bracket or group is growing at a rate of 3 per cent every year. Presently, Europe is leading the other regions in terms of population consisting of this age group. This brisk speed of ageing is expected to carry on in other regions as well, which projects that by the end of 2050 excluding Africa all regions of the world would have more than a quarter share of their total population at an age of 60 years and above. The population of this age group is projected to reach around 1.40 billion in 2030 and 2.10 billion in 2050, and could ultimately rise up to 3.10 billion in 2100.
This rising levels of age of population, is expected to be one of the major factors for the growth of surgical snare because of this group of population being prone to increasing number of endoscopic procedures whether for treatment or diagnostic procedures.
Key Market Competitors:
Few of the major competitors currently working in the surgical snare market are Avalign Technologies, Boston Scientific Corporation, CONMED Corporation, Cook, Medline Industries, Inc., Hill-Rom Services Inc., Medtronic, Merit Medical Systems, Olympus Corporation, Sklar Surgical Instruments, STERIS plc., Aspen Surgical, Stingray Surgical Products, LLC, Purple Surgical, OPT Surgisystems S.R.L., NEOS Surgery S.L., Mid Central Medical, HEBUmedical GmbH, Ellman International, Inc., Eickemeyer, David Scott Company and Teleflex Incorporated.
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