Surgical Snare Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Surgical Snare Market is Segmented by Usability (Reusable Surgical Snares, Single-Use Surgical Snares), Application, End-User, and Geography

Market Snapshot

CAGR
Study Period:

2018 - 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

4.9 %

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Market Overview

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.

Scope of the Report

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
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Gastrointestinal Endoscopy Segment is Expected to Hold the Largest Market Share

Gastrointestinal endoscopy helps in the diagnosis as well as treatment of gastrointestinal diseases. The factors that drive the growth of the segment are, the swiftly increasing geriatric population, the necessity to improve the quality of life for patients, and the need for competent hospital management. The gastrointestinal endoscopy segment will, consequently, observe prolonged growth, pushed by a considerable increase in the number of colonoscopy procedures performed in the United States, which is a major market for endoscopy products.

According to GLOBOCAN 2018, the estimated number of colorectal cancers globally is 1,849,518 as the incidence of colorectal cancers increases the usage of snares increase and thus the market grows further.

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North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to dominate the overall surgical snare market, throughout the forecast period. The positive reimbursement situation in the United States, increasing inclination of minimally invasive surgeries, and the soaring incidence of colorectal cancer are the major factors driving the growth of the surgical snares market in North America.

The presence of better reimbursement has also increased the affordability of colorectal cancer screening procedures, which in turn is driving the number of endoscopic procedures using the capturing technique performed in the United States. Furthermore, a high incidence of colorectal cancer in the region is the major driving factor for market growth. According to GLOBOCAN, 9.8% of the world’s colorectal cancer is of North America, i.e. 179,715 cases were estimated for the year. As per the statistics, the increasing patient pool is directly proportional to the market growth.

Surgical Snare Market

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Competitive Landscape

The surgical snare market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are Olympus, Boston Scientific, Cook Medical, CONMED Corporation, Medline Industries, Medtronic Plc, Steris, Merit Medical Systems, and Avalign Technologies.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Preference Towards Minimally Invasive Surgeries

      2. 4.2.2 Growth of the Endoscopic Ambulatory Surgery Centers

      3. 4.2.3 Hospital Investments in Endoscopy Instruments

    3. 4.3 Market Restraints

      1. 4.3.1 Complications Due to Usage of Snares

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Usability

      1. 5.1.1 Reusable Surgical Snares

      2. 5.1.2 Single-Use Surgical Snares

    2. 5.2 By Application

      1. 5.2.1 Gastrointestinal Endoscopy

      2. 5.2.2 Laparoscopy

      3. 5.2.3 Urology Endoscopy

      4. 5.2.4 Gynecology/Obstetrics Endoscopy

      5. 5.2.5 Others

    3. 5.3 By End-User

      1. 5.3.1 Hospitals

      2. 5.3.2 Ambulatory Surgical Centers

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Olympus Corporation

      2. 6.1.2 Boston Scientific Corporation

      3. 6.1.3 Cook Medical (Cook Group)

      4. 6.1.4 CONMED Corporation

      5. 6.1.5 Medline Industries

      6. 6.1.6 Medtronic PLC

      7. 6.1.7 Steris PLC

      8. 6.1.8 Merit Medical Systems, Inc.

      9. 6.1.9 Avalign Technologies, Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Surgical Snare Market market is studied from 2018 - 2026.

The Surgical Snare Market is growing at a CAGR of 4.9% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

  • Cook Medical
  • CONMED Corporation
  • Medline Industries
  • Olympus Corporation
  • Boston Scientific Corporation

Are the major companies operating in Surgical Snare Market.

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