Surgical Snares Market to Witness Growth at a CAGR of 9.4% During the Forecast Period 2022-2028

Posted on 2022-09-21 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Sept 21, 2022 — /EPR Network/ —

Surgical Snares Industry Overview

The global surgical snares market size was valued at USD 920.6 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 9.4% from 2021 to 2028.

The market is primarily driven by various factors such as the rising number of ambulatory surgery centers offering polypectomy procedures and the growing preference for minimally invasive surgeries. A significant increase in the number of gastrointestinal procedures in the U.S. and other developed economies is anticipated to support the market growth over the forecast period. Moreover, the increasing prevalence of chronic kidney diseases, the growing geriatric population suffering from chronic conditions, and rising patient awareness are among the other factors aiding in market growth.

Canceling or delaying elective surgeries significantly impacted the market during the COVID-19 pandemic. Increased risks of hospital-acquired infection and the unavailability of skilled staff for non-COVID-19 treatments caused significant loss in revenue generated during the pandemic. The market started to normalize after the second wave with stricter guidelines for elective surgeries. Rapid vaccination against COVID-19 is expected to play an important role in market growth during the ongoing pandemic.

Gather more insights about the market drivers, restrains and growth of the Global Surgical Snares market

The increasing prevalence of cancer is one of the key factors expected to contribute to the growth of the endoscopes market over the forecast period. According to the WHO, in 2012, worldwide cancer incidence (cases per year) was nearly 14.1 million, which is expected to rise to 22 million by 2034. Breast cancer, lung cancer, and colorectal cancer are among the most common cancer types. Increased patient awareness about colorectal cancer is also propelling the market growth. Colorectal cancer is the most common type of cancer detected in men and women in the U.S. According to the American Cancer Society, in 2019, around 1 million patients have been diagnosed with colon cancer; around 44,000 patients have been diagnosed with rectal cancer, and it is anticipated to cause around 52,980 deaths in 2021.

The rising incidence of cancer is expected to boost the demand for biopsies for cancer diagnosis. Endoscopy for biopsies and endoscopic ultrasound are among procedures preferred for cancer diagnosis. Thus, an increase in the demand for surgical procedures is expected to result in market growth during the forecast period. Technological advancements in minimally invasive surgeries are further expected to drive the demand for endoscopy procedures, which, in turn, is anticipated to fuel the growth of the market. For instance, in March 2018, Auris Health, Inc. received FDA approval for its new robotic endoscopy system, Monarch Platform. In June 2017, Olympus introduced a 3D surgical endoscope, which is compatible with the VISERA ELITE II system.

Browse through Grand View Research’s Medical Devices Industry Research Reports.

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Surgical Snares Market Segmentation

Grand View Research has segmented the global surgical snares market on the basis of usability, application, end use, and region:

Surgical Snares Usability Outlook (Revenue, USD Million, 2016 – 2028)

Single-use
Reusable

Surgical Snares Application Outlook (Revenue, USD Million, 2016 – 2028)

GI Endoscope
Laparoscopy
Urology Endoscopy
Gynecology Endoscopy
Arthroscopy
Bronchoscopy
Mediastinoscopy
Laryngoscopy
Others

Surgical Snares End-use Outlook (Revenue, USD Million, 2016 – 2028)

Hospitals
Ambulatory Surgical Centers

Surgical Snares Regional Outlook (Revenue, USD Million, 2016 – 2028)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Surgical Snares market include

Medtronic
Boston Scientific Corporation
Medline Industries, Inc.
Olympus Corporation
Cook
CONMED Corporation
Steris (U.S.)
Merit Medical Systems
Avalign Technologies
Hill-Rom Holdings, Inc.
Sklar Surgical Instruments

Order a free sample PDF of the Surgical Snares Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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