Surgical Snare Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4290
Surgical Snare Market size is expected to grow significantly from 2019 to 2025.
Surgical snare market is estimated to witness significant growth in forthcoming years on an account of increasing number of surgical procedures. As per WHO, millions of people undergo surgeries every year globally. Surgical snares are essentially used to remove growths such as polyp, lymphoid tissues and tumor from tissue surfaces that are inside a body cavity. Moreover, specific instruments are designed for particular procedures most commonly employed snares are for tonsils and ear, nose surgeries. These simple yet effective designed instruments allow healthcare professionals to remove tumors causing complications that will boost its demand thereby, augmenting the industry growth.
Rising adoption of technologically upgraded products that offer enormous advantages over existing products will boost demand for surgical snares. Surgical snares are equipped with wire loop that can be drawn tight around the base of small tumors destroying them completely. Furthermore, advanced surgical snares support speedy recovery, and less trauma. Aforementioned, factors coupled with rising per capita that positively impacts on healthcare expenditure will augment the industry growth. However, lack of trained skilled physicians may hinder business growth to certain extent.
GI endoscopy segment will witness robust growth in forthcoming year on an account of increasing incidences of colorectal cancer. As per National Institute of Cancer as of 2019, 145,600 new colorectal cancer cases have been estimated. Colorectal polypectomy is most effective method for treating colorectal cancer. In this procedure, surgeons extensively utilizes snares for extraction of colorectal polyp. Moreover, specific snares are employed depending upon the morphology of polyp. According to NCBI, oval, hexagonal snares, and especially mini-oval snares are most widely used, because 90% of colorectal polyps are too small to destroy. Above mentioned factors coupled with increasing government initiatives to increase the awareness regarding availability of superior quality surgical snares will propel business growth.
Single use snares segment is expected to witness lucrative growth on an account of increasing adoption of advanced technological products that enhances patient outcomes. Single use snare are specifically designed for promoting easy insertion into the scope channel and provide a more tactile feel that may reduce the risk of acquiring cuts and bruises. Moreover, single-use snares are utilized only once and do not cause any surgical site infection that has helped in reducing the mortality rates drastically in patients suffering from cancer. Thus, growing demand for single use snares will elevate the segmental growth.
Hospital segment should witness robust growth during the forthcoming years owing to growing number of hospital admissions that has increased the demand for surgical snares. Moreover, government funds public hospitals that ensures availability of superior quality surgical snares in the hospitals thereby, positively influencing the segmental growth.
North America segment is expected witness robust growth in forthcoming year owing to increasing adoption of advanced technology products coupled with growing healthcare expenditures. Moreover, key industry players having strong foothold in North America are introducing wide range of advanced surgical snares in order to improve clinical outcomes will further augment regional market growth.
Some of the major players operating in surgical snare industry include Medtronic, CONMED, Olympus, Boston Scientific, Cook Medical, Medline Industries, Steris, Merit Medical Systems, and Avalign Technologies are some major players in the global smoke evacuation systems market. Market players are adopting strategies such as product launch, partnerships and acquisitions to garner higher market share and sustain market competition. For instance, Boston Scientific has launched captivator a cold single use snare well suited device for cold snare polypectomy that will positively impact on the company’s growth.
Surgical Snare Market By Product Type, 2014-2025 (USD Million)
- Single use
Surgical Snare Market By Application, 2014-2025 (USD Million)
- GI endoscopy
- Gynecology endoscopy
- Urology endoscopy
Surgical Snare Market By End-user, 2014-2025 (USD Million)
- Ambulatory surgical centers (ASCs)
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Avalign Technologies
- Boston Scientific
- Cook Medical
- Medline Industries
- Merit Medical Systems
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