Surgical Snares - Market Insights, Competitive Landscape, and Market Forecast - 2030

Surgical Snares - Market Insights, Competitive Landscape, and Market Forecast - 2030

Surgical Snares Market By Usability (Reusable And Single-Use), Application (Gastroenterology, Urology, Gynecology & Obstetrics, And Others), End-Users (Hospitals And Clinics, Ambulatory Surgical Centers, And Others), And Geography (North America, Europe, Asia-Pacific, And Rest Of The World) is expected to grow at a steady CAGR forecast till 2030 owing to the increasing prevalence of chronic disorders and growing demand of minimally invasive surgeries

The global surgical snares market is estimated to grow at a CAGR of 5.91% during the forecast period from 2024 to 2030. The demand for surgical snares is primarily being boosted by the increasing prevalence of chronic disorders such as gastrointestinal tumors, and kidney disorders among others. Additionally, the growing demand for minimally invasive surgeries around the globe is another key factor, which is contributing to the growth of the surgical snares market during the forecast period from 2024 to 2030.

Surgical Snares Market Dynamics:

According to the latest data provided by the GLOBOCAN 2024, there were around 3,017,700 new cases of stomach cancer, colon cancer, colorectal cancer, gallbladder cancer, and rectum cancer in the year 2022, globally. Additionally, according to the same source it was estimated that by 2045, the number of cases will reach 5,162,183.

Additionally, according to a study titled “Prevalence, outcomes, and cost of chronic kidney diseases in a contemporary population of 2.4 million patients from 11 countries: The CaReMe CKD study” published in 2022 stated that around 9.1% to 13.4% of the population globally is suffering from chronic kidney disease (CKD).

Further, according to the International Agency for Research on Cancer 2021, gastrointestinal cancers account for 1 in 4 cancer cases and 1 in 3 cancer deaths, globally. Surgical snares are essential tools used during these procedures to remove polyps, tumors, and other abnormal growths found in the various parts of the body, such as the colon, stomach, bladder, and uterus. Thus, the rising prevalence of various chronic disorders such as gastrointestinal tumors, kidney disorders, and among others, will result in the positive growth of the surgical snares market.

Another driver for the surgical snares market is the growing demand for minimally invasive procedures. Patients often prefer minimally invasive procedures due to their numerous benefits, including reduced pain, lower risk of complications, shorter hospital stays, and quicker recovery times. This preference drives up the number of minimally invasive surgeries performed each year. As more patients opt for these types of surgeries, the demand for instruments used in these procedures, such as surgical snares, will rise and will eventually contribute in the overall growth of the surgical snares market during the forecast period.

However, complications associated with using surgical snares and requiring proper cleaning and sterilization in case of reusable snares are some of the key constraints that may limit the growth of the surgical snares market.

Surgical Snares Market Segment Analysis:

Surgical Snares market by Usability (Reusable and Single-Use), Application (Gastroenterology, Urology, Gynecology & Obstetrics, and Others), End-Users (Hospitals and Clinics, Ambulatory Surgical Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the usability segment of the surgical snares market, the single-use category is estimated to amass a significant revenue share in the surgical snares market in 2023. This can be attributed to the various advantages provided by the devices. Single-use snares are pre-sterilized and packaged, ensuring that each device is free from contaminants, which significantly reduces the risk of infection and cross-contamination between patients. Additionally, as these single-use snares are disposed of after one use, there is no need for cleaning and sterilization, which are potential sources of contamination if not done correctly. Further, reusable snares can degrade over time with repeated use and sterilization, potentially affecting their functionality on the other hand single-use snares are always in optimal condition.

Therefore, owing to the above-mentioned factors, the single-use category is expected to register significant growth, thereby driving the growth of the overall surgical snares market during the forecast period.

North America Is Expected To Dominate The Overall Surgical Snares Market:

North America is expected to account for the highest proportion of the surgical snares market in 2023, out of all regions. This is due to the high prevalence of chronic disorders in the region. Additionally, the presence of sophisticated healthcare infrastructure, robust research and development initiatives, and a highly viable market in terms of product development, and launches are some of the key factors driving the growth of the surgical snares market in North America.

As per data from the Centers for Disease Control and Prevention 2023, it was stated that 126,240 new cases of colorectal cancers were reported in the United States, in the year 2020. Additionally, according to the American Cancer Society 2022, it was stated that approximately 4.4% of men (1 in 23) and 4.1% of women (1 in 25) in the United States, will be diagnosed with colorectal cancer once in their lifetime. Thus, the rising prevalence of various chronic disorders will create a need for the treatment and management of such conditions, therefore leading to the growth of the surgical snares market in the United States, which will further propel the surgical snares market in North America.

Further, various key product launches and product approvals in the region are some of the other factors that are influencing the positive growth of the market in North America. For Example in April, 2021 Argon Medical Devices, announced the U.S. commercial launch of Halo™ Single-Loop Snare Kits.

Therefore, the factors mentioned above, and the increasing product launches and product approvals in the region are some of the important factors which are thereby responsible for driving the overall market for surgical snares in North America during the forecast period.

Surgical Snares Market Key Players:

Some of the key market players operating in the surgical snares market include and others Boston Scientific Corporation, Olympus Corporation, Cook, Medtronic, CONMED Corporation, STERIS, Integra LifeSciences Corporation, GerMedUSA, BOSS Instruments, Ltd., Argon Medical Devices, Sklar Surgical Instruments, Merit Medical Systems, Aspen Surgical, GPC Medical Ltd., Endo-Med Technologies Pvt. Ltd., Lepu Medical Technology (Beijing) Co.,Ltd., and others.

Recent Developmental Activities In The Surgical Snares Market:

In November 2022, Alleima acquired Endosmart Gesellschaft für Medizintechnik GmbH. The main objective of the acquisition was to expand Alleima’s capabilities in the medical industry.

In June 2021, STERIS announced the acquisition of Cantel Medical, a global provider of infection prevention products and services to endoscopy, dental, dialysis, and life sciences customers.

Key Takeaways From The Surgical Snares Market Report Study

Market size analysis for current surgical snares market size (2023), and market forecast for 6 years (2024 to 2030)

Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years

Key companies dominating the surgical snares market.

Various opportunities available for the other competitors in the surgical snares market space.

What are the top-performing segments in 2023? How these segments will perform in 2030?

Which are the top-performing regions and countries in the current surgical snares market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for surgical snares market growth in the coming future?

Target Audience Who Can Be Benefited From This Surgical Snares Market Report Study

Surgical Snares product providers

Research organizations and consulting companies

Surgical Snares related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in surgical snares

Various end-users who want to know more about the surgical snares market and the latest technological developments in the surgical snares market.

Frequently Asked Questions For The Surgical Snares Market:

1. What is meant by surgical snares market?

Surgical snares are specialized medical instruments used primarily in endoscopic procedures to excise, remove, or capture tissue. They are particularly useful in procedures involving the removal of polyps, growths, or other unwanted tissues from various parts of the body.

2. What is the market for surgical snares?

The global surgical snares market is estimated to grow at a CAGR of 5.91% during the forecast period from 2024 to 2030.

3. What are the drivers for the global surgical snares market?

The surgical snares market is slated to witness prosperity owing to factors such as by the increasing prevalence of chronic disorders such as gastrointestinal tumors, kidney disorders, and among others. Additionally, the growing demand of minimally invasive surgeries around the globe is another factor, which is contributing to the growth of the surgical snares market during the forecast period from 2024 to 2030.

4. Who are the key players operating in the global surgical snares market?

Some of the key market players operating in the Surgical Snares market include Boston Scientific Corporation, Olympus Corporation, Cook, Medtronic, CONMED Corporation, STERIS, Integra LifeSciences Corporation, GerMedUSA, BOSS Instruments, Ltd., Argon Medical Devices, Sklar Surgical Instruments, Merit Medical Systems, Aspen Surgical, GPC Medical Ltd., Endo-Med Technologies Pvt. Ltd., Lepu Medical Technology (Beijing) Co.,Ltd., and others.

5. Which region has the highest share in the global surgical snares market?

North America is expected to dominate the overall surgical snares market during the forecast period, 2024 to 2030. This is due to the high prevalence of chronic disorders in the region. Additionally, the presence of sophisticated healthcare infrastructure, robust research and development initiatives, and a highly viable market in terms of product development, and launches are some of the key factors driving the growth of the surgical snares market in North America.