The Surgical Snare Market is anticipated to reach USD 1.19 Billion by 2032 at 9.1% CAGR during the forecast period 2023-2032.
A surgical instrument consists of a wire hoop drawn tight around the base of small tumors to sever. Surgical snares are used in endoscopy. An endoscopy procedure allows physicians or surgeons to look inside the organ’s interior parts. The technique is used for diagnostic and therapeutic purposes. For endoscopy, a specialized instrument called an endoscope is used. There are different types of endoscopes in the market. The demand for convenient treatment procedures will drive the Surgical Snare Market in the forecast period.
The higher adoption of endoscopes depends upon the affected body organ like bronchoscopes for lungs related problems, arthroscopes for problems associated with joints, and many others. The major factor, such as the increasing occurrence of chronic diseases like cancer, is driving the market. Furthermore, the preference for minimally invasive surgeries and the growth of the endoscopic surgery centers are other factors for the market growth. The heavy investments in endoscopy instrument development in hospitals boost market performance.
In October 2020, Olympus, a prominent worldwide technology leader specializing in creating and providing cutting-edge solutions for medical and surgical operations, as well as other key industries, revealed the introduction of the SnareMaster Plus hybrid hot/cold snare in the United States. The SnareMaster Plus, invented and produced by Olympus, enables Olympus to address all procedural needs for polypectomy with its SnareMaster portfolio, consisting of the SnareMaster Soft and the SnareMaster Spiral.
In April 2021, Argon Medical Devices Inc., a prominent manufacturer of medical devices specializing in interventional treatments, announced the introduction of Halo Single-Loop Snare Kits in the United States. These kits were initially used by a clinician at Beaumont who reported favorable outcomes.
The surgical snare market is segmented on the basis of usability, application, end user, and region.
On the basis of usability, the surgical snare market is segmented into reusable
and single-use. By application, the surgical snare market by application is categorized into laparoscopy, endoscopy, cystoscopy, otoscopy, laryngoscopy, neuroendoscopy, and others. By end-user, the surgical snare market is categorized into hospitals & clinics, ambulatory surgical centers, and others.
Regional Market Summary
On the basis of region, the surgical snare market is divided into the Americas, Europe, Asia-Pacific, and Middle East & Africa. Americas region is expected to command the largest market share in 2017. Europe is expected to be the second largest market by 2023. Surgical Snare market is growing at a healthy CAGR during the forecast period of 2018 to 2023. Asia-Pacific is the fastest growing market which is growing at the fastest CAGR.
Research Methodology
Market Research Future research is conducted by industry experts who offer insights into industry structure, market segmentation, assessment, Competitive Landscape (CL), penetration, as well as on emerging trends. Besides primary interviews (~ 80%) and secondary research (~ 20%), their analysis is based on their years of professional expertise in respective industries. Our analysts also predict where the market will be headed in the next five to ten years, by analyzing historical trends and current market positions. Furthermore, the varying trends of segments and categories geographically presented are studied and are estimated based on the primary and secondary research.
Extensive primary research was conducted to gain a deeper insight into the market and industry performance. In this particular report, we have conducted primary surveys (interviews) with key level executives (VPs, CEOs, Marketing Directors, Business Development Managers, and many more) of major players who are active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed, over the next five to ten years.
Secondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and commercial study of the surgical snare market. It was also used to obtain key information about major players, market classification, and segmentation according to industry trends, geographical markets, and developments related to the market and perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, SEC filings, journals, white papers, corporate presentations, company web sites, international organization of chemical manufacturers, some paid databases, and many others.
Recent Development
In November 2021
The Micro-Tech Endoscopy Lesion Hunter is a thin 0.18 mm Nitinol cold snare specifically designed for resecting sessile polyps, pedunculated polyps, and tissue from within the gastrointestinal (GI) tract. A novel cold snare features a rotatable thin Nitinol wire which offers clean, precise resection of diminutive polyps. The thin cutting wire provides for a guillotine-type cut, while the loop shape assists in capturing smaller polyps. The spiral metal catheter is stiff to aid insertion through an extended scope position while providing support during resection. A three-ring comfortable grip with shortened throw aids effortless cuts.
In April 2021
Argon Medical Devices (Frisco, Texas) announced the U.S. launch of its Halo single-loop snare kits. According to Argon Medical Devices, the snare catheter’s creators designed it to provide accuracy and reliability when retrieving and manipulating foreign objects from the cardiovascular system or hollow viscus.
Intended Audience
Surgical Snare Market, by Usability
Surgical Snare Market, by Application
Surgical Snare Market, by End User
Surgical Snare Market, by Key Players
| Report Attribute/Metric | Details |
| Market Size | 1.19 Billion |
| CAGR | 9.1% (2023-2032) |
| Base Year | 2021 |
| Forecast Period | 2023-2032 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Usability, Application, End user |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Boston Scientific, Olympus, CONMED, Medline Industries Steris, Medtronic, Merit Medical Systems, Hill-Rom Holdings, Sklar Surgical Instruments |
| Key Market Opportunities | New product launches and R&D Amongst major key Players |
| Key Market Drivers | · Rapid pace owing to the increasing number of endoscopy procedures· Growing geriatric population· Rising healthcare expenditure |
Surgical Snare Market Highlights:
Frequently Asked Questions (FAQ) :
The surgical snare market is expected to exhibit a solid 9.10% CAGR over the forecast period from 2023 to 2032.
On the basis of reusability, the surgical snare market is segmented into reusable and single-use surgical snares.
The Americas holds the largest share in the surgical snare market.
The growing use of endoscopy is a key driver for the surgical snare market.
Leading players in the surgical snare market include Boston Scientific, Olympus, CONMED, Steris, Medtronic, and Sklar Surgical Instruments, among others.
Research Analyst Level I He is an extremely curious individual currently working in healthcare and medical devices domain. kinjoll is comfortably versed in data centric research backed by healthcare educational background. he leverages extensive data mining and analytics tools such as primary and secondary research, statistical analysis, machine learning, data modelling. his key role also involves technical sales support, client interaction and project management within the healthcare team. lastly, he showcases extensive affinity towards learning new skills and remain fascinated in implementing them.
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