Surgical Snares Market - By Usability (Single-use, Reusable), By Application (GI Endoscopy, Laparoscopy, Cystoscopy, Gynecology Endoscopy, Arthroscopy, Bronchoscopy), By End-use (Hospitals, Ambulatory Surgical Centers) & Forecast, 2023 – 2032

Surgical Snares Market Size

Surgical Snares Market size was valued at around USD 1.1 billion in 2022 and is projected to register over 6.9% CAGR between 2023 and 2032. The increasing prevalence of chronic conditions including gastrointestinal disorders and colorectal cancer are expected to spearhead the business growth.
 

Factors such as the rising prevalence of chronic kidney diseases, the growing aging population affected by chronic conditions, and increased patient awareness are also contributing to the market's growth. Also, the increasing number of ambulatory surgery centers that provide polypectomy procedures and the growing preference for minimally invasive surgeries is contributing to the surgical snares market expansion.
 

Surgical snares are medical devices used in endoscopic procedures to remove abnormal tissue or foreign objects from the body. They are thin, flexible wires with a loop at one end that can be used to grasp and remove tissue or objects from the gastrointestinal tract, bladder, or other body cavities. Surgical snares are commonly used in a variety of endoscopic procedures, including colonoscopies, esophagogastroduodenoscopies (EGDs), and bronchoscopies. They are often preferred over traditional surgical techniques because they are minimally invasive in nature.
 

However, the clinical complications associated with the use of snares might negatively impact the surgical snares market growth in the coming years. Surgical snares are used in hot snare polypectomy (HSP) that has been the conventional approach for polypectomy. Although there are several risk factors associated with post-procedural bleeding, perforation, and post-polypectomy syndrome.
 

COVID-19 Impact

The recent outbreak of COVID-19 had negatively influenced the surgical snares market revenue surge, specifically during the first half of 2020. The incremental demand for COVID-19 testing has had a significant impact on the surgical services for other diseases. In the early stages of the pandemic, COVID-19 had a high incidence and mortality rate, causing people to avoid seeking other medical treatments & diagnostic procedures in healthcare facilities. Many patients delayed endoscopic and other medical procedures because of the risk of infection.
 

Additionally, movement restrictions and disruptions in the supply chain have led to challenges in product distribution, further impacting the revenue of several industry players in fiscal year 2020. The developments, majorly defined by the reduced endoscopic procedural volume negatively hampered the market growth in 2020. However, the reduced incidence of COVID-19 cases and collaborated efforts undertaken by the major market players are set to benefit the market growth. The companies operating in the industry entered into collaboration and distribution agreements to effectively manage their activities post-pandemic which has further influenced business revenues. Thus, owing to these attributes the market is projected to follow trajectory growth in the foreseeable future.
 

Surgical Snares Market Trends

The increasing prevalence of gastrointestinal disorders, colorectal cancer, Crohn’s disease, etc. is projected to drive the demand for minimally invasive procedures including polypectomy that employs surgical snares, thereby propelling the industry growth. Colorectal cancer is amongst the most common type of cancer reported in the U.S.

Surgical Snares Market Analysis

Based on usability, surgical snares market is segmented as single-use and reusables. Single-use segment dominated the industry in 2022 accounting for more than 61% of the total market share. This dominant market share is primarily owing several advantages of being cost-effective, lower risk of contamination, high efficiency, and easy to use factor. Due to the aforementioned factors, these products are widely preferred during surgical procedures, thereby driving the product demand & sales volume. Further, disposable surgical snares eliminate the risk of cross-contamination and infection associated with the reuse of surgical instruments and offer convenience, as these snares are pre-sterilized and ready to use, which saves time & reduces the need for sterilization equipment and processes. Hence, the above-mentioned variables are anticipated to substantially propel the surgical snares industry growth over the analysis timeframe.
 

Based on application, the surgical snares market is segmented as GI endoscopy, laparoscopy, cystoscopy, gynecology endoscopy, arthroscopy, bronchoscopy, and others. The GI endoscopy segment is projected to grow at a 7.2% CAGR from 2023-2032. This highest market share is due to the higher prevalence of gastrointestinal ailments that have led to the rise in number of surgical endoscopies & surging adoption of surgical snares in these endoscopic procedures. The surged prevalence of colorectal cancer has driven the demand for diagnostic procedures including colonoscopies.
 

Based on end-use, the market is segmented as hospitals, ambulatory surgical centers, and others. The hospitals segment was valued at over USD 695 million in 2022. This majority segmental growth is owing to the availability of advanced equipment, better medical accessibility, faster care, and the high volume of surgeries. As per the Centers for Disease Control and Prevention, a notable surge in the number of medical procedures, including angioplasty, kidney & liver transplants, has been reported in the recent years. Owing to these developments along with the rising number of arthroscopic & bronchoscopic endoscopies, the demand for surgical equipment including surgical snares has significantly increased in hospitals. Thus, pertaining above-mentioned variables, the surgical snares market is projected to witness substantial growth during the estimation timeframe.
 

U.S. dominated the North America market is predicted to reach over USD 818 million by 2032. This high revenue surge is majorly attributed to multiple factors including the rapidly increasing geriatric population, the need to enhance the quality of life for patients, positive reimbursement scenario, surging preference for minimally invasive surgeries, and the increasing prevalence of colorectal cancer.
 

Surgical Snares Market Share

Some of the major players operating in the surgical snares industry are:

• Boston Scientific Corporation
• Olympus Corporation
• ConMed Corporation
• Medline Industries
• Merit Medical Systems
   

These leading market players are implementing advanced technologies to cater to the large unmet needs of the consumers. These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

Surgical Snares Industry in News:

• In April 2021, Argon Medical Devices announced the U.S. launch of its Halo single-loop snare kits. The snare catheter’s creators designed it to provide both accuracy and reliability when retrieving and manipulating foreign objects from the cardiovascular system or hollow viscus, according to Argon Medical Devices. This launch helped the company to introduce innovative products, further offering a competitive edge.
   

Surgical snares market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and units from 2018 to 2032, for the following segments:

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By Usability

• Single-use
• Reusable

By Application,

• GI Endoscopy
• Laparoscopy
• Cystoscopy
• Gynecology Endoscopy
• Arthroscopy
• Bronchoscopy
• Others

By End-use

• Hospitals
• Ambulatory Surgical Centers
• Others  

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Poland
  • Switzerland
  • The Netherlands
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Philippines
  • Vietnam
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
  • Peru
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Israel
  • Egypt
  • Turkey