Market Size of Surgical Snare Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 4.90 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Surgical Snare Market Analysis
The surgical snare market is projected to grow with a CAGR of nearly 4.9% over the forecast period. The major factor attributing to the growth of the market increasing prevalence of chronic diseases like cancer.
According to the Fight Colorectal Cancer organization, colorectal cancer is the second leading cause of cancer death among men and women combined in the United States. There will be an estimated 140,250 new cases of colorectal cancer in 2019. Furthermore, the growing preference towards minimally invasive surgeries and growth of the endoscopic ambulatory surgery centers are few other major factors for the market growth.
Rising investments in the endoscopy instruments by the hospitals is boosting the growth of the market. However, the clinical complications involved in the usage of snares is the major drawback for market growth.
Surgical Snare Industry Segmentation
As per the scope of the report, the surgical snare is a device used for eliminating polyps and another extended stalk of tissue growth by slicing them off at the base. This report is segmented by Usability, Application, End-user, and Geography.
| By Usability | |
| Reusable Surgical Snares | |
| Single-Use Surgical Snares |
| By Application | |
| Gastrointestinal Endoscopy | |
| Laparoscopy | |
| Urology Endoscopy | |
| Gynecology/Obstetrics Endoscopy | |
| Others |
| By End-User | |
| Hospitals | |
| Ambulatory Surgical Centers |
| Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Surgical Snare Market Size Summary
The surgical snare market is experiencing steady growth, driven by the increasing prevalence of chronic diseases such as cancer, particularly colorectal cancer, which is a significant concern in the United States. The shift towards minimally invasive surgeries and the expansion of endoscopic ambulatory surgery centers are key factors contributing to this market expansion. Hospitals are investing more in endoscopy instruments, further propelling market growth. However, the market faces challenges due to clinical complications associated with the use of snares. The gastrointestinal endoscopy segment is expected to grow significantly, supported by the aging population and the need for improved patient quality of life and hospital management. This growth is particularly evident in the United States, where the number of colonoscopy procedures is on the rise.
North America is anticipated to lead the surgical snare market throughout the forecast period, fueled by favorable reimbursement policies, a preference for minimally invasive surgeries, and a high incidence of colorectal cancer. The region's robust reimbursement framework has made colorectal cancer screening more affordable, increasing the number of endoscopic procedures. The market is moderately competitive, with major players like Olympus, Boston Scientific, Cook Medical, and others dominating the landscape. The growing patient pool in North America is directly linked to the market's expansion, as the incidence of colorectal cancer continues to rise.
Surgical Snare Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.2.1 Increasing Preference Towards Minimally Invasive Surgeries
-
1.2.2 Growth of the Endoscopic Ambulatory Surgery Centers
-
1.2.3 Hospital Investments in Endoscopy Instruments
-
-
1.3 Market Restraints
-
1.3.1 Complications Due to Usage of Snares
-
-
1.4 Porter's Five Force Analysis
-
1.4.1 Threat of New Entrants
-
1.4.2 Bargaining Power of Buyers/Consumers
-
1.4.3 Bargaining Power of Suppliers
-
1.4.4 Threat of Substitute Products
-
1.4.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 By Usability
-
2.1.1 Reusable Surgical Snares
-
2.1.2 Single-Use Surgical Snares
-
-
2.2 By Application
-
2.2.1 Gastrointestinal Endoscopy
-
2.2.2 Laparoscopy
-
2.2.3 Urology Endoscopy
-
2.2.4 Gynecology/Obstetrics Endoscopy
-
2.2.5 Others
-
-
2.3 By End-User
-
2.3.1 Hospitals
-
2.3.2 Ambulatory Surgical Centers
-
-
2.4 Geography
-
2.4.1 North America
-
2.4.1.1 United States
-
2.4.1.2 Canada
-
2.4.1.3 Mexico
-
-
2.4.2 Europe
-
2.4.2.1 Germany
-
2.4.2.2 United Kingdom
-
2.4.2.3 France
-
2.4.2.4 Italy
-
2.4.2.5 Spain
-
2.4.2.6 Rest of Europe
-
-
2.4.3 Asia-Pacific
-
2.4.3.1 China
-
2.4.3.2 Japan
-
2.4.3.3 India
-
2.4.3.4 Australia
-
2.4.3.5 South Korea
-
2.4.3.6 Rest of Asia-Pacific
-
-
2.4.4 Middle-East and Africa
-
2.4.4.1 GCC
-
2.4.4.2 South Africa
-
2.4.4.3 Rest of Middle-East and Africa
-
-
2.4.5 South America
-
2.4.5.1 Brazil
-
2.4.5.2 Argentina
-
2.4.5.3 Rest of South America
-
-
-
Surgical Snare Market Size FAQs
What is the current Surgical Snare Market size?
The Surgical Snare Market is projected to register a CAGR of 4.90% during the forecast period (2024-2029)
Who are the key players in Surgical Snare Market?
Cook Medical, CONMED Corporation, Medline Industries, Olympus Corporation and Boston Scientific Corporation are the major companies operating in the Surgical Snare Market.
