Report Overview

Global Surgical Snare Market - Industry Trends & Forecast Report 2027

The global surgical snare market was worth USD 919.9 million in 2020 and is projected to reach USD 1,685.6 million by 2027 at a CAGR of 9.3% during the forecast period (2021-2027). Two major factors driving the global surgical snare market are the rise in minimally invasive surgeries and the surge in colon polypectomy procedures. Moreover, the rise in the number of endoscopic ambulatory surgical centers and the growth in the target patient population have also aided in the growth of the global surgical snare market. Also driving the global surgical snare market are the growing number of gastrointestinal procedures in developed economies, the increased awareness of colorectal cancer screenings, and rising hospital investments.

Source: BlueWeave Consulting

Global Surgical Snare Market Overview

Surgical snares are medical tools for removing growths from tissue surfaces, primarily within the body cavity. The surgical snare is commonly used to treat polyps, tumors, and lymphoid tissue (tonsils). General and specialty surgeons use surgical snares to reach and remove tissue growths in difficult-to-reach places. Snares consist of a handle, a cannula (thin tube), a wire loop at the tip of the cannula, and a mechanism for tightening the wire. As the loop encircles the tissue at the bottom of the growth, it gradually tightens around the growth to remove it.

The growth of the global surgical snare market has been accelerated in part by favorable reimbursement policies and research and development initiatives for new treatment procedures. Also, surgical snares are becoming more common in endoscopy instruments, fueling the global market for surgical snares. Furthermore, the increase in gastrointestinal procedures in developed countries, chronic kidney disease, colon cancer, and the growing geriatric population play an important role in the growth of the surgical snare market.

Global Surgical Snare Market trend

Growth Drivers

Increasing patient awareness of colorectal cancer

Colorectal cancer (CRC), also known as bowel cancer, colon cancer, or rectal cancer, is cancer developed from the colon or rectum parts of the large intestine. Early signs and symptoms are blood in the stool, changes in bowel movements, weight loss, and fatigue. A study by the American Cancer Society in 2019 stated that around 100,000 U.S. citizens are diagnosed with colon cancer, and around 44,000 are diagnosed with rectal cancer every year. Therefore, the American Cancer Society recommends that adults age 45 or over undergo thorough screening every ten years, utilizing six different tests, such as colonoscopy. Since surgical snares are an important screening instrument, the demand for surgical snares has also been increasing alongside screening. This has been a major factor driving the global surgical snare market.

Restraints

Clinical Complications

The Annals of Thoracic Surgery reports that coronary artery lesions are caused by snares used before removing the recipient's heart before transplantation. Furthermore, scanning electron microscopy demonstrated that snares cause focal micro thrombosis, endothelial denudation, and atherosclerotic plaque rupture. In addition, multifocal stenosis developed on sites of coronary extravascular snaring following coronary bypass surgery was observed in a diabetic patient with extensive medial calcification. As a result, surgical snares can lead to surgical site infections, which can have negative effects on the patient's health. All of these factors, therefore, pose a major threat to the growth of the surgical snares market.

Impact of COVID-19 on the Global Surgical Snare Market

COVID-19 has had a major impact on the global public health sector. As a result of the lockdown, many strict measures have been taken in the healthcare sector. Additionally, to combat the pandemic, several changes have occurred in patient behavior and demand, purchasing patterns, and the rerouting of supply chains. COVID-19 forced the suspension of numerous other healthcare services, resulting in a decrease in certain surgical procedures which are not urgent, like endoscopy and laparoscopy. This has led to a decline in the global surgical snares market.

Global Surgical Snare Market by Application

Based on application, the global surgical snare market can be segmented into GI endoscopy, laparoscopy, gynecology/obstetrics endoscopy, arthroscopy, urology endoscopy, bronchoscopy, mediastinoscopy, other applications. The GI endoscopy accounted for the largest share in the global surgical snare market. GI endoscopy enjoys a large market share due to the prevalence of colorectal cancer and the growing geriatric population around the world, leading to a high number of polypectomy procedures. Moreover, the segment is growing due to the surge in the popularity of minimally invasive surgeries. The demand for GI endoscopy procedures has also witnessed significant growth. Health insurance policies mostly cover endoscopic procedures since they are considered low-risk procedures. Consequently, they are performed frequently, which increases the market share of this segment. Nevertheless, one of the fastest-growing segments is arthroscopy due to the widespread prevalence of orthopedic diseases and the growing number of geriatrics, particularly vulnerable to orthopedic diseases.

Global Surgical Snare Market - By Usability

Based on usability, the global surgical snare market can be segmented into reusable and single-use. The re-usable segment accounts for the largest market share in the usability segment of the global surgical snare market. Due to the highly cost-effective nature of disposable instruments, re-usable surgical snares account for a large share of surgical snares in endoscopy procedures. Moreover, these instruments are easy to detach and can be sterilized easily, which makes them very popular. In addition, reusable surgical snares are used in endoscopy procedures for polypectomy and tumor removal. All of these factors contribute to the segment's large market share.

Global Surgical Snare Market - By End-User

Based on end-users, the global surgical snare market can be segmented into hospitals, and ambulatory surgical services. The hospitals own the largest market share in the end-user segment of the global surgical share market. The massive market share of this segment can be attributed to the large number of laparoscopic, arthroscopic, and endoscopic procedures performed in hospitals, coupled with the rising demand for minimally invasive procedures, along with the increased incorporation of advanced imaging modalities to improve workflow efficiency in hospitals.

Global Surgical Snare Market - By Region

Based on region, the global surgical snare market can be divided into North America, Europe, the Asia-Pacific, the Middle East & Africa, and Latin America. Out of these, North America holds the largest market share, which can be attributed to the high adoption rate of enhanced technology along with the presence of skilled professionals, which have led to the growth of the market in this region. Also, the high incidence of colorectal cancer (CRC) in the US caused the provision of reimbursements to increase the affordability of CRC screening procedures in the country. Moreover, the region’s economy, huge consumer base, government policies, and well-established healthcare sector also aid in the growth of this region.

The Asia-Pacific region is the fastest-growing market owing to the increasing population of China, India, Bangladesh, Indonesia, etc., the use of minimally invasive surgeries, the development of healthcare systems, and the expansion of research.

Source: BlueWeave Consulting

Global Surgical Snare Market - Competitive Landscape

Increased colorectal cancer cases, combined with an aging population and the overwhelming demand for minimally invasive surgery, fuelled the growth of the global surgical snare market, thus giving rise to stiff competition amongst the players. Some of the major players of the global surgical snare market are - Olympus Corporation, Boston Scientific Corporation, Cook Medical, Avalign Technologies, Inc., Conmed Corporation, Medline Industries, Inc., Medtronic, Merit Medical Systems, EndoMed Systems, SKLAR SURGICAL INSTRUMENTS, STERIS, Aspen Surgical, Stingray Surgical Products, LLC, OPT SurgiSystems S.R.L., HEBUmedical GmbH, Purple Surgical, Eickemeyer, Teleflex Incorporated, GPC Medical, Hill-Rom Holdings, Inc.

Scope of Report

•  By    Application
  • GI Endoscopy
  • Laparoscopy
  • Gynecology/Obstetrics Endoscopy
  • Arthroscopy
  • Urology Endoscopy
  • Bronchoscopy
  • Mediastinoscopy
  • Other Applications
• By Usability
  • Re-usable
  • Single-Use
• By End-User
  • Hospitals                        
  • Ambulatory surgical Services
• By Region
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

1. Research Framework
   1. Research Objective
   2. Application Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. Global Surgical Snare Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Recent Development/Technological Advancements
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Usability of Suppliers
      2. Bargaining Usability of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. Global Surgical Snare Market Overview
   1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By       Application
         1. GI Endoscopy
         2. Laparoscopy
         3. Gynaecology/Obstetrics Endoscopy
         4. Arthroscopy
         5. Urology Endoscopy
         6. Bronchoscopy
         7. Mediastinoscopy
         8. Other Applications
      2. By Usability
         1. Re-usable
         2. Single Use
      3. By End-User
         1. Hospitals                        
         2. Ambulatory surgical Services
      4. By Region
         1. North America
         2. Europe
         3. the Asia-Pacific
         4. Latin America
         5. the Middle East and Africa
6. North America Surgical Snare Market
   1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Application
      2. By Usability
      3. By End-User
      4. By Country
         1. U.S.
         2. Canada
7. Europe Surgical Snare Market
   1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Application
      2. By Usability
      3. By End-User
      4. By Country
         1. Germany
         2. United Kingdom
         3. Italy
         4. France
         5. Spain
         6. Rest of Europe
8. the Asia-Pacific Surgical Snare Market
   1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Application
      2. By Usability
      3. By End-User
      4. By Country
         1. China
         2. India
         3. Japan
         4. Singapore
         5. South Korea
         6. Rest of Asia Pacific
9. Latin America Surgical Snare Market
   1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Application
      2. By Usability
      3. By End-User
      4. By Country
         1. Brazil
         2. Argentina
         3. Mexico
         4. Rest of Latin America
10. The Middle East & Africa Surgical Snare Market
    1. Market Size & Forecast by Value, 2017-2027
       1. By Value (USD Million)
    2. Market Share & Forecast
       1. By Application
       2. By Usability
       3. By End-User
       4. By Country
          1. Saudi Arabia
          2. Iran
          3. UAE
          4. Turkey
          5. South Africa
          6. Rest of The Middle East & Africa
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis, 2020
    3. Competitive Benchmarking, By Operating Parameters
12. Impact of Covid-19 on Global Surgical Snare Application
13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, SWOT Analysis, Contact Address, and Strategic Outlook) **
    1. Olympus Corporation
    2. Boston Scientific Corporation
    3. Cook Medical
    4. Avalign Technologies, Inc.
    5. CONMED Corporation
    6. Medline Industries, Inc.
    7. MEDTRONIC
    8. Merit Medical Systems
    9. EndoMed Systems
    10. Sklar Surgical Instrumental
    11. STERIS
    12. Aspen Surgical
    13. Stingray Surgical Products, LLC
    14. OPT SurgiSystems S.R.L.
    15. HEBUmedical GmbH
    16. Purple Surgical
    17. Eickemeyer
    18. Teleflex Incorporated
    19. GPC Medical
    20. Hill-Rom Holdings, Inc.
14. Key Strategic Recommendations

*Financial details of unlisted companies will be available as per data availability in final deliverable

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List of Figures

Figure 1: Global Surgical Snare Segmentation

Figure 2: Global Surgical Snare Market Value Chain Analysis

Figure 3: Company Market Share Analysis, 2020

Figure 4: Global Surgical Snare Market Size, By Value (USD Billion), 2017-2027

Figure 5: Global Surgical Snare Market Share, By Application, By Value, 2017-2027

Figure 6: Global Surgical Snare Market Share, By Usability, By Value, 2017-2021

Figure 7: Global Surgical Snare Market Share, By End-User, By Value, 2017-2021

Figure 8: Global Surgical Snare Market Share, By Region, By Value, 2017-2027

Figure 9: North America Surgical Snare Market Size, By Value (USD Billion), 2017-2027

Figure 10: North America Surgical Snare Market Share, By Application, By Value, 2017-2027

Figure 11: North America Surgical Snare Market Share, By Usability, By Value, 2017-2027

Figure 12: North America Surgical Snare Market Share, By End-User, By Value, 2017-2027

Figure 13: North America Surgical Snare Market Share, By Country, By Value, 2017-2027

Figure 14: Europe Surgical Snare Market Size, By Value (USD Billion), 2017-2027

Figure 15: Europe Surgical Snare Market Share, By Application, By Value, 2017-2027

Figure 16: Europe Surgical Snare Market Share, By Usability, By Value, 2017-2027

Figure 17: Europe Surgical Snare Market Share, By End-User, By Value, 2017-2027

Figure 18: Europe Surgical Snare Market Share, By Country, By Value, 2017-2027

Figure 19: The Asia-Pacific Surgical Snare Market Size, By Value (USD Billion), 2017-2027

Figure 20: The Asia-Pacific Surgical Snare Market Share, By Application, By Value, 2017-2021

Figure 21: The Asia-Pacific Surgical Snare Market Share, By Usability, By Value, 2017-2027

Figure 22: The Asia-Pacific Surgical Snare Market Share, By End-User, By Value, 2017-2027

Figure 23: The Asia-Pacific Surgical Snare Market Share, By Country, By Value, 2017-2027

Figure 24: Latin America Surgical Snare Market Size, By Value (USD Billion), 2017-2027

Figure 25: Latin America Surgical Snare Market Share, By Application, By Value, 2017-2027

Figure 26: Latin America Surgical Snare Market Share, By Usability, By Value, 2017-2027

Figure 27: Latin America Surgical Snare Market Share, By End-User, By Value, 2017-2027

Figure 28: Latin America Surgical Snare Market Share, By Country, By Value, 2017-2027

Figure 29: The Middle East & Africa Surgical Snare Market Size, By Value (USD Billion), 2017-2021

Figure 30: The Middle East & Africa Surgical Snare Market Share, By Application, By Value, 2017-2027

Figure 31: The Middle East & Africa Surgical Snare Market Share, By Usability, By Value, 2017-2027

Figure 32: The Middle East & Africa Surgical Snare Market Share, By End-User, By Value, 2017-2027

Figure 33: The Middle East & Africa Surgical Snare Market Share, By Country, By Value, 2017-2027

List of Tables

Table 1: Global Surgical Snare Market Size, By Application, By Value, 2017-2027

Table 2: Global Surgical Snare Market Size, By Usability, By Value, 2017-2027

Table 3: Global Surgical Snare Market Size, By End-User, By Value, 2017-2027

Table 4: Global Surgical Snare Market Size, By Region, By Value, 2017-2027

Table 5: North America Surgical Snare Market Size, By Application, By Value, 2017-2027

Table 6: North America Surgical Snare Market Size, By Usability, By Value, 2017-2027

Table 7: North America Surgical Snare Market Size, By End-User, By Value, 2017-2027

Table 8: North America Surgical Snare Market Size, By Country, By Value, 2017-2027

Table 9: Europe Surgical Snare Market Size, By Application, By Value, 2017-2027

Table 10: Europe Surgical Snare Market Size, By Usability, By Value, 2017-2027

Table 11: Europe Surgical Snare Market Size, By End-User, By Value, 2017-2027

Table 12: Europe Surgical Snare Market Size, By Country, By Value, 2017-2027

Table 13: The Asia-Pacific Surgical Snare Market Size, By Application, By Value, 2017-2027

Table 14: The Asia-Pacific Surgical Snare Market Size, By Usability, By Value, 2017-2027

Table 15: The Asia-Pacific Surgical Snare Market Size, By End-User, By Value, 2017-202

Table 16: The Asia-Pacific Surgical Snare Market Size, By Country, By Value, 2017-2027

Table 17: Latin America Surgical Snare Market Size, By Application, By Value, 2017-2027

Table 18: Latin America Surgical Snare Market Size, By Usability, By Value, 2017-2027

Table 19: Latin America Surgical Snare Market Size, By End-User, By Value, 2017-2027

Table 20: Latin America Surgical Snare Market Size, By Country, By Value, 2017-2027

Table 21: The Middle East & Africa Surgical Snare Market Size, By Application, By Value, 2017-2027

Table 22: The Middle East & Africa Surgical Snare Market Size, By Usability, By Value, 2017-2027

Table 23: The Middle East & Africa Surgical Snare Market Size, By End-User, By Value, 2017-2027

Table 24: The Middle East & Africa Surgical Snare Market Size, By Country, By Value, 2017-2027

Table 25: Olympus Corporation Financial Analysis

Table 26: Olympus Corporation Business Overview

Table 27: Boston Scientific Corporation Financial Analysis

Table 28: Boston Scientific Corporation Business Overview

Table 29: Cook Medical Financial Analysis

Table 30: Cook Medical Business Overview

Table 31: Avalign Technologies, Inc. Financial Analysis

Table 32: Avalign Technologies, Inc. Business Overview

Table 33: CONMED Corporation Financial Analysis

Table 34: CONMED Corporation Business Overview

Table 35: Medline Industries, Inc. Financial Analysis

Table 36: Medline Industries, Inc. Business Overview

Table 37: MEDTRONIC Financial Analysis

Table 38: MEDTRONIC Business Overview

Table 39: MERIT MEDICAL SYSTEMS Financial Analysis

Table 40: MERIT MEDICAL SYSTEMS Business Overview

Table 41: EndoMed Systems Financial Analysis

Table 42: EndoMed Systems Business Overview

Table 43: SKLAR SURGICAL INSTRUMENTS Financial Analysis

Table 44: SKLAR SURGICAL INSTRUMENTS Business Overview

Table 45: STERIS Financial Analysis

Table 46: STERIS Business Overview

Table 47: Aspen Surgical Financial Analysis

Table 48: Aspen Surgical Business Overview

Table 49: Stingray Surgical Products, LLC Financial Analysis

Table 50: Stingray Surgical Products, LLC Business Overview

Table 51: OPT SURGISYSTEMS S.R.L. Financial Analysis

Table 52: OPT SURGISYSTEMS S.R.L. Business Overview

Table 53: HEBUmedical GmbH Financial Analysis

Table 54: HEBUmedical GmbH Business Overview

Table 55: Purple Surgical Financial Analysis

Table 56: Purple Surgical Business Overview

Table 57: EICKEMEYER Financial Analysis

Table 58: EICKEMEYER Business Overview

Table 59: TELEFLEX INCORPORATED Financial Analysis

Table 60: TELEFLEX INCORPORATED Business Overview

Table 61: GPC MEDICAL Financial Analysis

Table 62: GPC MEDICAL Business Overview

Table 63: Hill-Rom Holdings, Inc. Financial Analysis

Table 64: Hill-Rom Holdings, Inc. Business Overview