Surgical Snares Market Size Is Estimated To Reach USD 1.9 Billion by 2026

The global surgical snares market size is expected to reach USD 1.9 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 4.8% over the forecast period. Increasing number of surgical procedures, coupled with technological advancements, is anticipated to drive the market. Moreover, increasing awareness about colorectal cancer and its and growing incidence are likely to propel market growth over the forecast period.

Snares are used by surgeons in hospitals and clinics for outpatient surgeries. The easy-to-use snares help surgeons to efficiently remove unwanted growth from within a body cavity, while minimizing the risk of injury and enhancing patient safety. Surgical snares are used for efficient biopsies or during removal of tonsils or tumors.

Increasing investments in endoscopic surgery and endoscopy instruments advancements, especially in developing economies, further increases preference of these surgeries among patients & physicians, which is expected to growth. Other key factors impelling growth are growing geriatric population, continued efforts to improve quality of life for patients, and increasing use of GI endoscopies.

According to WHO, the global burden of colorectal cancer is anticipated to increase by 60%, to over 2.2 million cancer cases, by 2030. Therefore, increase in the incidence of colorectal cancer and the global geriatric population, which is prone to chronic diseases, is further expected to aid growth.

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Surgical Snares Market Report Highlights

• North America accounted for the largest share of over 40%, owing to favorable reimbursement policies, local presence of key players, and government initiatives
• Asia Pacific is expected to show the highest growth rate over the forecast period, owing to technological advancements, increasing investments by governments and private players, improving reimbursement scenario, and increase in medical tourism to the region
• By application, GI endoscopy segment accounted for largest share in 2018 and is expected to dominate over the forecast period
• By end use, the hospital segment dominated in 2018. Ambulatory surgical centers is expected to be the fastest growing segment
• Some of the key players in the surgical snare market are Olympus Corporation (Japan); Boston Scientific (U.S.); Cook Medical (U.S.); CONMED Corporation (U.S.); Medtronic (Ireland); Steris (U.S.); Medline Industries (U.S.); and Sklar Surgical Instruments (U.S.).

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Surgical Snares Market Segmentation

Grand View Research has segmented the surgical snares market on the basis of usability, application, and end use.

Surgical Snares Usability Outlook (Revenue, USD Million, 2015 - 2026)

• Single Use
• Reusable

Surgical Snares Application Outlook (Revenue, USD Million, 2015 - 2026)

• GI Endoscopy
• Laparoscopy
• Urology Endoscopy
• Gynecology Endoscopy
• Arthroscopy
• Bronchoscopy
• Mediastinoscopy
• Laryngoscopy
• Others

Surgical Snares Regional Outlook (Revenue, USD Million, 2015 - 2026)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Asia Pacific
• Japan
• China
• India
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Colombia
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

Surgical Snares End-use Outlook (Revenue, USD Million, 2015 - 2026)

• Hospitals
• Ambulatory Surgical Centers

About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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