Surgical Snares Market is primarily driven by Increase in the Preference Keyhole Surgeries

Surgical Snares Industry Overview

The global surgical snares market size is expected to reach USD 2.1 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.4% from 2021 to 2028. The market is primarily driven by various factors such as an increase in the number of endoscopic ambulatory surgery centers and polypectomy procedures and the growing preference for minimally invasive surgeries. A significant increase in the number of gastrointestinal procedures in the U.S. and other developed economies is anticipated to support the market growth over the forecast period. Moreover, the increasing prevalence of chronic kidney diseases, the growing geriatric population suffering from chronic conditions, and increasing patient awareness are among the factors aiding in the market growth. Favorable reimbursement policies in major markets are promoting demand for surgical snares in various medical procedures.

A constant rise in the geriatric population is leading to an increase in the financial burden on the healthcare system. According to the Population Reference Bureau, the number of people in the U.S. aged 65 and above is estimated to nearly double from 52 million in 2018 to 95 million by 2060. Such a rise in the elderly population is expected to subsequently result in greater demand for ablation devices for the treatment of tumors, thereby boosting the market growth.

Surgical Snares Market Segmentation

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

Based on the Usability Insights, the market is segmented into Single-use and Reusable

• The single-use segment accounted for the largest revenue share of over 60.0% in 2020.
• The reusable segment is expected to witness the fastest growth over the forecast period. Cost-effectiveness offered by disposable devices is expected to be a growth factor.

Based on the Application Insights, the market is segmented into GI Endoscope, Laparoscopy, Urology Endoscopy, Gynecology Endoscopy, Arthroscopy, Bronchoscopy, Mediastinoscopy, Laryngoscopy, and Others

• GI endoscope held the largest share of over 30.0% in 2020.
• Arthroscopy is expected to expand at the fastest rate over the forecast period. The adoption of arthroscopic procedures is expected to increase owing to the rising geriatric population at risk of age-related disorders, such as arthritis, and rising incidence of joint injuries such as that of knee and shoulder.
• Laparoscopy held a significant share in 2020.

Based on the End-use Insights, the market is segmented into Hospitals and Ambulatory Surgical Centers

• The hospitals segment captured the largest share of over 75.0% in 2020.
• Ambulatory surgical centers (ASCs) are anticipated to register the highest growth rate over the forecast period.

Surgical Snares Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The competition is highly dynamic with new entrants entering the market with the innovative product portfolio and major players maintaining their market share with mergers and acquisitions.

Some prominent players in the global Surgical Snares market include:

• Medtronic
• Boston Scientific Corporation
• Medline Industries, Inc.
• Olympus Corporation
• Cook
• CONMED Corporation
• Steris (U.S.)
• Merit Medical Systems
• Avalign Technologies
• Hill-Rom Holdings, Inc.
• Sklar Surgical Instruments

Order a free sample PDF of the Surgical Snares Market Intelligence Study, published by Grand View Research.