Surgical Snare Market Size, Share, Growth Report 2030

According to the report published by Zion Market Research, global demand for Surgical Snare Market was valued at approximately USD 1,040 Million in 2019, and is expected to generate revenue of around USD 1,444 Million by end of 2026, growing at a CAGR of around 4.8% between 2020 and 2026.

Global Surgical Snare Market: Overview

Surgical snare an effective medical instrument typically used by healthcare professionals in order to treat excessive growth within the body cavity, including tonsils, tumours, or polyps. The snare consists of a loop-like wire framework at the tip of the cannula, handle, as well as wire tightening mechanism to effectively remove the excessive growth. These specific but efficient tools allow healthcare professionals to eliminate tumours that cause complications, thus boosting demand and growing industry growth.

Global Surgical Snare Market: Growth Factors

Growing preference for the minimally invasive surgeries, growth of the endoscopic ambulatory surgical centres, and growing a number of colon polypectomy procedures are among the major factors driving growth of the global surgical snare market. In addition to this, rapidly increasing old age population in developed countries and increasing need among the individuals worldwide for enhancing the quality of life of patients are anticipated to fuel growth of the target industry in the near future. Moreover, government bodies and private firms across the globe are focusing and providing funding for the endoscopic surgeries which is another factor supporting global market growth intern propelling growth of the market. 

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Global Surgical Snare Market: Segmentation

The global surgical snare market is segmented based on usability, application, and end user. On the basis of usability, the surgical snare market is segmented into single use and reusable. On the basis of application, the target industry can be divided into GI endoscopy, laryngoscopy, laparoscopy, gynecology endoscopy, mediastinoscopy, bronchoscopy, and urology endoscopy. Based on the end user, the global market is classified into ASC and hospital.

Region-wise, the global market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Global Surgical Snare Market: Regional Analysis

The North America surgical snare market is projected to hold the significant share globally in the future, owing to favourable reimbursement scenario from the U.S. growing preference of minimally invasive surgeries, and growing incidence of cancer in the North America region. Further, increase in the old age population, coupled with growing number of endoscopic surgical procedures are expected to fuel growth of the market in the Asia Pacific. The Europe surgical snare market is anticipated to grow at a rapid rate in the years ahead.

Global Surgical Snare Market: Competitive Players

Some main participants of the surgical snare market are Olympus (Japan), Boston Scientific (U.S.), Cook Medical (U.S.), CONMED Corporation (U.S.), Medline Industries (U.S.), Medtronic (Ireland), Steris (U.S.), Merit Medical Systems (U.S.), Avalign Technologies (U.S.), among others. Major players in the global market are focusing on strengthening position in the target industry by applying various business strategies.

Surgical Snare Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa