Surgical Snare Market Size is expected to observe a lucrative CAGR between 2022 and 2028. These medical instruments are used for removing growths from tissue surfaces, particularly when they are situated inside a body cavity. Common growths addressed with surgical snares comprise lymphoid tissue (tonsils), tumors, and polyps. Surgical snares are prominently deployed in clinics that perform outpatient surgeries and hospital operating rooms.
The usage of these instruments helps in the simplification of procedures for the surgeon further enhancing patient safety by minimizing the risks of inadvertent injury.
On the basis of product type, single use surgical snares segment is expected to record considerable expansion through 2028 owing to the extensive product applicability across various surgeries. Single use snares can be used in the management of different types of polyps such as legions on a colonic fold, lesions on the right-side of the colon, and large or flat lesions. Some of the key features of single use snares include hot/cold indication, smaller loop options, braided wire, and others.
Based on application, the surgical snare market is estimated to register substantial growth from the GI endoscopy segment through 2028. This rise is mainly attributed to the escalating deployment of polypectomy snares in the process of endoscopic resection for the treatment of gastrointestinal polyps. The different types of effective and safe resection methods comprise endoscopic mucosal resection, cold snare polypectomy, hot snare polypectomy, and underwater endoscopic mucosa resection.
The segment growth is being driven by the launch of different types of polypectomy snares for catering to various GI endoscopy procedures.
By region, the North America surgical snare market share is set to witness appreciable expansion over the forecast period. This growth is powered by an increase in product developments by regional industry players. Citing an instance, in April 2021, Argon Medical Devices rolled out its Halo single-loop snare kits in the U.S. The kits have been designed for providing reliability and accuracy when manipulating and retrieving foreign objects from the hollow viscus or cardiovascular system.
Prominent players across the surgical snare market comprise Olympus, CONMED, Medline Industries, Boston Scientific, Medtronic, Merit Medical Systems, Cook Medical, Avalign Technologies, Steris, and others. Numerous surgical snare manufacturers are focusing on the adoption of strategic moves such as mergers, acquisitions, product developments, collaborations, and partnerships for gaining a competitive edge in the market.
For instance, in December 2020, Olympus Corporation announced its acquisition of advanced medical devices provider, Veran Medical Technologies, Inc. The move will enable Olympus to gain access to VMT’s R&D, marketing, sales network, manufacturing, and other functions for the expansion of the company’s product portfolio.
Amid the SARS-CoV-2 pandemic, surgeons are being redeployed to care for patients in emergency departments and intensive care units and these people are at the forefront of patient care. This has created the need for effective medical devices in light of the soaring requirement for handling surgical patient care.
According to the American College of Surgeons, there should be a consistent policy for the protection of essential medical services including surgery. This has opened up a host of opportunities for the development of technologically advanced surgical snare tools, propelling industry outlook in the near future.
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