Global Surgical Snares Market By usability (Single-Use, Reusable), Application (Gastrointestinal (GI) Endoscopy, Urology Endoscopy, Laparoscopy, Bronchoscopy, Arthroscopy, Obstetrics/Gynecology Endoscopy, Mediastinoscopy, Laryngoscopy, Neuroendoscopy, Others), End-users (Hospitals & Clinics, Ambulatory Surgical Centers, Others), Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa), Global Forecast 2022 to 2032

Surgical snares are gaining popularity owing to numerous benefits offered to surgeons such as greater surgical precision, safe operative procedures, and increased patient outcomes. Surgical snares helps to remove unwanted growth from tissue surfaces within a body cavity. Growing burden of cancers, rise in polypectomy procedures, large elderly patient pool is expected to drive the demand for surgical snares in the future. Growing endoscopy ambulatory surgical centers coupled with increasing demand for minimally invasive procedures will further boost market growth. Minimally invasive procedures are performed through smaller incisions rather than large opening leading to lower blood loss and quick recovery of patients. Benefits associated with these less-invasive treatments such as speedy recovery, reduced hospitalization period, curtailed risk of infections and lower operative pain will positively influence market growth over the coming years. Minimally invasive surgeries also reduce the incidence of post-surgical complications thereby stimulating demand. Moreover, major industry players are also investing in R&D to develop technologically advanced and application specific surgical snares. For instance, Cook Medical launched Cook Needle’s Eye Snare and Cook Lead Extraction System in 2018.

The global Surgical Snares market is projected to reach USD 23.16 Billion by 2029, growing at a CAGR of %

The global surgical snares market has been segmented based on usability, application, end-users, and region. Based on usability, the global surgical snares market is categorized into reusable and single-use surgical snares. Reusable surgical snares segment held substantial share of the global market in 2019. Reusable snares are traditional surgical instruments that are easy-to-use and detach, can be sterilized and are highly cost-effective compared to disposable snares which reduces the cost of endoscopic procedures. Al these factors are anticipated to drive its demand over the coming few years.

Application-wise, the global surgical snares market is segmented into gastrointestinal (GI) endoscopy, urology endoscopy, laparoscopy, bronchoscopy, arthroscopy, obstetrics/gynecology endoscopy, mediastinoscopy, neuroendoscopy, laryngoscopy and others. Gastrointestinal (GI) endoscopy segment dominated the global surgical snare market in 2019 owing to rapid increase in burden of gastrointestinal diseases and colorectal cancers, large number of polypectomy procedures and surge in elderly patient pool across the globe. On the basis of end-users, the global surgical snares market is segmented into hospitals & clinics, ambulatory surgical centers, and others. Hospitals & clinics held majority of the market share in 2019. However, ambulatory surgical centers are anticipated to grow at a rapid pace over the coming years owing to surge in the number of endoscopy ambulatory surgical centers along with minimum hospital stay, reduced cost of treatment and availability of same-day procedures in these facilities.

The global surgical snares market is cumulative to North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America dominated the global surgical snares market in 2019, however Asia Pacific is expected to grow at a highest pace through 2028.

High incidence of colorectal cancer and increased patient awareness for diagnosis and treatment are factors anticipated to drive the surgical snares market in the region. According to the American Cancer Society, approximately 100,000 Americans are diagnosed with colon cancer and about 44,000 are diagnosed with rectal cancer each year. High incidence of the disease has led to provision of reimbursement for colorectal screening. Thus, an increase in the number of screening procedures is expected to drive market growth. Furthermore, presence of large elderly patient population, increase in number of ambulatory surgical centers coupled with presence of well-established industry players are other major factors likely to boost the growth of the market in North America.

However, Asia Pacific is expected to grow at a rapid pace over the next few years. There is a strong growth potential in the emerging economies such as India, and China. The rapidly rising geriatric population in countries such as India and China provide large market for surgical snares. According to the United Nations, China and India together were home to over one third of the world’s population aged 60 years or over in 2017. An increase in geriatric population, increasing incidence of colorectal cancer and rise in the number of endoscopic surgical procedures is expected to boost market growth over the coming years.