Snared Devices Market By Usability (Single-use, Reusable), By Application (GI Endoscopy, Urology Endoscopy, Gynecology Endoscopy, Laparoscopy, Arthroscopy, Bronchoscopy, Mediastinoscopy, Laryngoscopy, Others), By End User (Hospitals, Ambulatory Surgical Centers): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global snared devices market was valued at $950.2 million in 2021, and is projected to reach $1,616.7 million by 2031, registering a CAGR of 5.2% from 2022 to 2031.The snared device is a medical instrument primarily used to remove the tumor or unwanted cell growth from the body. Snared device consists of a wire hoop that can be drawn tight around the base of small tumors or polyps, which cuts them from the bottom. The device functions by using a catheter through an instrument channel of a scoping device and this easy-to-use mechanism helps surgeons efficiently remove damaged or cancerous tissues. Snared devices are important instruments required for different surgical procedure. These devices are used with endoscope in the surgical procedures such as laparoscopy, urology, gastrointestinal endoscopy, and others. In recent years, the market has grown with a rapid step owing to the increase in number of endoscopy procedure.
In addition, endoscopy helps in the diagnosis as well as treatment of gastrointestinal diseases. According to World Health Organization, every year millions of people undergo surgeries globally. These devices are used for particular procedure and commonly used for ear, nose and tonsils surgeries. Further, these devices help remove tumors causing complications that are projected to boost the demand for snared devices. Increase in prevalence of chronic diseases like cancer is one of the major factors attributing to the growth of the snared devices market. According to the Fight Colorectal Cancer.org (FCCO) colorectal cancer is the second leading cause of death among population in the U.S. Besides, increase in number of colon polypectomy procedure and rise in preference for minimally invasive surgeries are anticipated to increase the growth of the snared devices market. Also, increase in number of geriatric populations is anticipated to offer growth opportunity for the manufactures operating in the snared devices market. However, the clinical complications involved in the usage of snared devices is expected to hinder the growth of the snared devices market.
The snared devices market is segmented on the basis of usability, application, end user, and region. Depending on usability, the market is classified into single-use, and reusable. By application, the market is classified into GI endoscopy, urology endoscopy gynecology endoscopy, laparoscopy, arthroscopy, bronchoscopy, mediastinoscopy, laryngoscopy and others. According to end user, the market is segmented into hospitals, and ambulatory surgical centers.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA). North America accounted for the largest market share in the snared devices market in 2021 and is expected to retain its dominance throughout the forecast period. This is primarily attributed to increase in product developments by regional industry players, and rise in adoption of advanced technology to improve clinical outcomes in the region.
The report provides a comprehensive analysis of the key players that operate in the global snared devices market. The key companies profiled in the report include Boston Scientific Corporation, CONMED Corporation, Cook Medical Inc., Hill-Rom Holdings Inc., Johnson and Johnson, Medline Industries, Inc., Medtronic Plc., Merit Medical Systems, Inc., Olympus Corporation, Sklar Corporation, and Steris Plc.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the snared devices market analysis from 2021 to 2031 to identify the prevailing snared devices market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the snared devices market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global snared devices market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Usability
Single-use
Reusable
By Application
GI Endoscopy
Urology Endoscopy
Gynecology Endoscopy
Laparoscopy
Arthroscopy
Bronchoscopy
Mediastinoscopy
Laryngoscopy
Others
By End User
Hospitals
Type
Public
Private
Ambulatory Surgical Centers
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest Of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest Of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest Of LAMEA
Key Market Players
Boston Scientific Corporation
CONMED Corporation
Cook Medical Inc.
Hill-Rom Holdings Inc.
Medline Industries, Inc.
Medtronic Plc.
Olympus Corporation
Sklar Corporation
Steris Plc.
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