Surgical Snares Market - By Usability (Single-use, Reusable), By Application (GI Endoscopy, Laparoscopy, Cystoscopy, Gynecology Endoscopy, Arthroscopy, Bronchoscopy), By End-use (Hospitals, Ambulatory Surgical Centers) & Forecast, 2023 – 2032
Published Date: August - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationSurgical Snares Market - By Usability (Single-use, Reusable), By Application (GI Endoscopy, Laparoscopy, Cystoscopy, Gynecology Endoscopy, Arthroscopy, Bronchoscopy), By End-use (Hospitals, Ambulatory Surgical Centers) & Forecast, 2023 – 2032
Surgical Snares Market Size
Surgical Snares Market size was valued at around USD 1.1 billion in 2022 and is projected to register over 6.9% CAGR between 2023 and 2032. The increasing prevalence of chronic conditions including gastrointestinal disorders and colorectal cancer are expected to spearhead the business growth.
Factors such as the rising prevalence of chronic kidney diseases, the growing aging population affected by chronic conditions, and increased patient awareness are also contributing to the market's growth. Also, the increasing number of ambulatory surgery centers that provide polypectomy procedures and the growing preference for minimally invasive surgeries is contributing to the surgical snares market expansion.
Surgical snares are medical devices used in endoscopic procedures to remove abnormal tissue or foreign objects from the body. They are thin, flexible wires with a loop at one end that can be used to grasp and remove tissue or objects from the gastrointestinal tract, bladder, or other body cavities. Surgical snares are commonly used in a variety of endoscopic procedures, including colonoscopies, esophagogastroduodenoscopies (EGDs), and bronchoscopies. They are often preferred over traditional surgical techniques because they are minimally invasive in nature.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Surgical Snares Market Size in 2022 | USD 1.2 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 6.9% |
| 2032 Value Projection | USD 2.3 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 200 |
| Tables, Charts & Figures | 373 |
| Segments covered | Usability, Application, End-use, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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However, the clinical complications associated with the use of snares might negatively impact the surgical snares market growth in the coming years. Surgical snares are used in hot snare polypectomy (HSP) that has been the conventional approach for polypectomy. Although there are several risk factors associated with post-procedural bleeding, perforation, and post-polypectomy syndrome.
COVID-19 Impact
The recent outbreak of COVID-19 had negatively influenced the surgical snares market revenue surge, specifically during the first half of 2020. The incremental demand for COVID-19 testing has had a significant impact on the surgical services for other diseases. In the early stages of the pandemic, COVID-19 had a high incidence and mortality rate, causing people to avoid seeking other medical treatments & diagnostic procedures in healthcare facilities. Many patients delayed endoscopic and other medical procedures because of the risk of infection.
The pandemic really threw a wrench into the medical device industry in 2020. Travel bans and supply chain issues made it difficult to deliver products, which hurt sales for many companies. And with fewer people needing endoscopies, the market took a big hit. But things are starting to improve. The number of COVID-19 cases is going down, and medical device companies have been working together to find ways to operate more efficiently. They've been signing deals to share resources and improve distribution, which will help boost sales in the future. So even though the pandemic was a setback, the industry is expected to bounce back strong in the coming years.
Surgical Snares Market Trends
The increasing prevalence of gastrointestinal disorders, colorectal cancer, Crohn’s disease, etc. is projected to drive the demand for minimally invasive procedures including polypectomy that employs surgical snares, thereby propelling the industry growth. Colorectal cancer is amongst the most common type of cancer reported in the U.S.
Surgical Snares Market Analysis
When it comes to how easy they are to use, surgical snares can be either single-use or reusable. In 2022, the single-use snares were the most popular, accounting for over 61% of all sales. There are several reasons why single-use snares are so popular. They are relatively inexpensive, which makes them a good option for hospitals and clinics with tight budgets. They also have a lower risk of contamination than reusable snares, which is important for preventing infections. Single-use snares are also very efficient and easy to use, which makes them a good choice for surgeons who are looking for a quick and easy way to get the job done. Because of all of these advantages, single-use snares are a great option for a variety of surgical procedures. They help to save time and money, and they also help to reduce the risk of infection. As a result, the demand for single-use snares is only expected to grow in the years to come.
Based on application, the surgical snares market is segmented as GI endoscopy, laparoscopy, cystoscopy, gynecology endoscopy, arthroscopy, bronchoscopy, and others. The GI endoscopy segment is projected to grow at a 7.2% CAGR from 2023-2032. This highest market share is due to the higher prevalence of gastrointestinal ailments that have led to the rise in number of surgical endoscopies & surging adoption of surgical snares in these endoscopic procedures. The surged prevalence of colorectal cancer has driven the demand for diagnostic procedures including colonoscopies.
The market for surgical snares is divided into hospitals, surgical centers, and other places where they're used. In 2022, hospitals were the biggest part of the market, making more than $695 million. This is because hospitals have the newest equipment, easy access to care, quick treatment, and a large number of surgeries. The Centers for Disease Control and Prevention says that there have been a lot more medical procedures lately, such as angioplasty and kidney and liver transplants. With more people getting arthroscopic and bronchoscopic endoscopies, hospitals need more surgical equipment, including surgical snares. So, the market for surgical snares is expected to grow a lot during the time period being looked at.
U.S. dominated the North America market is predicted to reach over USD 818 million by 2032. This high revenue surge is majorly attributed to multiple factors including the rapidly increasing geriatric population, the need to enhance the quality of life for patients, positive reimbursement scenario, surging preference for minimally invasive surgeries, and the increasing prevalence of colorectal cancer.
Surgical Snares Market Share
Some of the major players operating in the surgical snares industry are
- Boston Scientific Corporation
- Olympus Corporation
- ConMed Corporation
- Medline Industries
- Merit Medical Systems
These leading market players are implementing advanced technologies to cater to the large unmet needs of the consumers. These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
Surgical Snares Industry in News
- In April 2021, Argon Medical Devices announced the U.S. launch of its Halo single-loop snare kits. The snare catheter’s creators designed it to provide both accuracy and reliability when retrieving and manipulating foreign objects from the cardiovascular system or hollow viscus, according to Argon Medical Devices. This launch helped the company to introduce innovative products, further offering a competitive edge.
Surgical snares market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and units from 2018 to 2032, for the following segments
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By Usability
- Single-use
- Reusable
By Application,
- GI Endoscopy
- Laparoscopy
- Cystoscopy
- Gynecology Endoscopy
- Arthroscopy
- Bronchoscopy
- Others
By End-use
- Hospitals
- Ambulatory Surgical Centers
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Poland
- Switzerland
- The Netherlands
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Philippines
- Vietnam
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Israel
- Egypt
- Turkey
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