Global Surgical Snare Market – Industry Trends and Forecast to 2030

Surgical Snare Market Analysis and Size

The rapidly increasing patient preference for minimally invasive surgeries is among the important factors intensifying the growth and demand of the surgical snare market. In addition, the high growth of the endoscopic ambulatory surgery centers segment and the increasing target patient population are also contributing to the growth in the global market. Also, the growing awareness of colorectal cancer screening and rising hospital investments in endoscopy instruments is enhancing the growth of the market. Likewise, the significant increase in the number of gastrointestinal procedures in the developed economies is also lifting the market growth in the above-mentioned forecast period.

Data Bridge Market Research analyses that the surgical Snare market which was USD 1,210.11 million in 2022, would rocket up to USD 2,132.58 million by 2030, and is expected to undergo a CAGR of 11.6% during the forecast period. This indicates the market value. “Reusable” dominates the usability segment of the surgical Snare market owing to the growing demand for various surgeries. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Surgical Snare Market Scope and Segmentation

Market Definition

The surgical snare is a type of instrument that is used for removing polyps and other lengthened stalk of tissue enlargement by cutting them off at the base. A surgical snare consists of a wire hoop that can be haggard tight around the base of polyps or small tumors which cuts them from the base.

Global Surgical Snare Market Dynamics

Drivers

• Rising number of surgeries

A growing number of surgical procedures is directly influencing the demand for medical instruments that offer more precision, and emerging technologies, such as wide-angle illumination, red reflex illumination, and augmented reality (AR) microscopy. This in turn has carved the way for the growth of the market.

• Research and development proficiencies

Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted to develop medical instruments is also expected to drive the market growth rate.

• Growing investment for healthcare facilities

Surging focus on improving the condition of healthcare facilities and improving the overall healthcare infrastructure is another important factor fostering the growth of the market. The rising number of partnerships and strategic collaborations between the public and private players pertaining to funding and application of new and improved technology is further expected to create lucrative market opportunities.  

Opportunities

Furthermore, an upsurge in the public-private funding for target research activities, rising demand for minimally invasive surgeries, growing awareness of colorectal cancer screening, and rising hospital investments in endoscopy instruments also rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2023 to 2030. Additionally, the increasing prevalence of diseases such as chronic kidney diseases and colon cancer along with the growing geriatric population with an increase in kidney and colon surgery is also one of the significant factors which is expected to further expand the market's growth rate in the future. 

Restraints/Challenges

On the other hand, high costs associated with research and development proficiencies, limited infrastructural facilities, and a dearth of awareness in backward economies are expected to obstruct market growth. Also, the lack of favorable reimbursement scenarios and technology penetration in the developing economies, the heavy customs duty imposed on medical devices, and the lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2023-2030.

This surgical snare market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the surgical snare market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.

Recent Developments

• In 2018, Cook Medical launched two new products, Cook Lead Extraction System and Cook Needle’s Eye Snare
• In March 2018, Auris Health, Inc. received FDA approval for its new robotic endoscopy system, Monarch Platform
• In June 2017, Olympus introduced a 3D surgical endoscope, which is compatible with the VISERA ELITE II system

Global Surgical Snare Market Scope

The surgical snare market is segmented on the basis of usability, application, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Usability

• Reusable
• Single-Use

Application

• Gastrointestinal Endoscopy
• Laparoscopy
• Gynecology/Obstetrics Endoscopy
• Arthroscopy
• Urology Endoscopy (Cystoscopy)
• Bronchoscopy
• Mediastinoscopy
• Otoscopy
• Laryngoscopy
• Retinal Endoscopy
• Neuroendoscopy
• Others

End User

• Hospitals
• Ambulatory Surgical Centers
• Others

Global Surgical Snare Market Regional Analysis/Insights

The surgical snare market is analysed and market size insights and trends are provided by country, usability, application, and end user as referenced above.

The countries covered in the surgical snare market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America is expected to dominate the surgical Snare market because of the strong base of healthcare facilities, the strong presence of major players in the market, increases cases of surgical procedures among athletes, and the rising number of research activities in this region.   

Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 due to the increase in government initiatives to promote awareness, growing research activities in the region, availability of massive untapped markets, a large population pool, and the growing demand for quality healthcare in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure Growth Installed Base and New Technology Penetration

The surgical snare market also provides you with a detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the surgical Snare market, the impact of technology using lifeline curves, and changes in healthcare regulatory scenarios and their impact on the surgical Snare market. The data is available for the historic period 2010-2020.

Competitive Landscape and Surgical Snare Market Share Analysis

The surgical snare market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the surgical snare market.

Some of the major players operating in the surgical snare market are:

• Avalign Technologies, Inc. (U.S.)
• Boston Scientific Corporation (U.S.)
• CONMED Corporation (U.S.)
• Cook (U.S.)
• Medline Industries, Inc. (U.S.)
• Medtronic (U.S.)
• Merit Medical Systems (U.S.)
• EndoMed Systems (Germany)
• OLYMPUS CORPORATION (Japan)
• Sklar Surgical Instruments (U.S.)
• STERIS (U.K.)
• Aspen Surgical (U.S.)
• GPC Medical (India)
• Stingray Surgical Products LLC (Florida)
• Purple Surgical (U.K.)
• OPT SURGISYSTEMS S.R.L. (Italy)
• Mid Central Medical (U.S.)
• HEBUmedical GmbH (Germany)
• Eickemeyer (Germany)
• Teleflex Incorporated (U.S.)

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