Surgical Snare Market Revenue to Attain USD 3.21 Billion by 2033

26 Dec 2024

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Table of Content

1. Surgical Snare Market Revenue and Trends 2023 to 2033 2. Market Overview 3. Report Highlights of the Market 4. Surgical Snare Market Trends  5. Regional Outlook  6. Surgical Snare Market Coverage 7. Market News 8. Surgical Snare Market Key Players

Surgical Snare Market Revenue and Trends 2023 to 2033

The global surgical snare market revenue was valued at USD 2.27 billion in 2024 and is expected to attain around USD 3.21 billion by 2033, growing at a CAGR of 3.96% during the forecast period. A significant element supporting the surgical snare market expansion is the growing emphasis on enhancing the state of healthcare facilities and infrastructure.

Market Overview

Medical devices called surgical snares are used to remove growths from tissue surfaces, mainly when inside bodily cavities. The surgical snare market products are commonly used to treat growths such as tumors, lymphoid tissue (tonsils), and polyps. The growing prevalence of illnesses like colorectal cancer, one of the main causes of cancer-related deaths worldwide, is propelling the market. To remove precancerous polyps and support early detection and prevention, surgical snares are essential.

• In January 2024, Arthrex introduced TheNanoExperience.com, a new patient-focused website highlighting nano arthroscopy's advantages and science. This contemporary, minimally invasive orthopedic surgery may allow a speedy return to exercise and reduced discomfort.

Report Highlights of the Market

• By usability, the single-use segment dominated the market in 2023. This is due to the increasing use of single-use surgical snares in various industries, like consumer goods, healthcare, and automotive. 
• By usability, the reusable segment is observed to grow at the fastest rate in the market during the forecast period. The demand for reusable surgical snare products is rising due to urbanization, the growth of the middle class, and increasing disposable incomes.
• By application, the GI endoscope segment held the largest share of the market in 2023. GI endoscopy is a frequent method for identifying and treating these problems, and surgical snares are essential to these operations. Minimally invasive gastrointestinal operations are becoming increasingly popular among patients and the medical community because of their many benefits, which include smaller incisions, quicker recovery times, and less discomfort for patients.
• By application, the arthroscopy segment is observed to expand rapidly in the market during the forecast period. Surgical snares are essential because they allow for the accurate excision of aberrant tissues, such as tumors and polyps, with the least harm to healthy tissue.
• By end-use, the hospitals segment accounted for the largest share of the market in 2023. Hospitals offer an extensive range of medical services, use cutting-edge surgical tools, and have large patient numbers, so numerous surgical snares are needed for the wide range of surgical operations performed there. Surgeons, gastroenterologists, and other experts with surgical snares are among the qualified professionals usually concentrated at hospitals. 
• By end-use, the ambulatory surgical centers segment is observed to grow rapidly in the market during the forecast period.  Ambulatory surgical centers have significant consumers of surgical snares because of the availability of specialized competence, which guarantees their effective and efficient usage.

Surgical Snare Market Trends 

Increasing healthcare expenditure

The increased financial commitment to healthcare creates an atmosphere where healthcare facilities are more likely to implement cutting-edge technologies in the surgical snare market. With their improved cutting mechanisms and technical improvements, surgical snares are seen as invaluable tools for medical providers looking to reduce patient stress and recovery times while providing the best possible treatment.

Advancements in snare design

Manufacturers in the surgical snare market are always developing new ways to enhance the functionality and appearance of single-use surgical snares. Recent developments include smoother sheath transitions for user convenience, better wire design for better tissue capture, and ergonomic grips for increased maneuverability. By increasing efficiency during treatments, these design enhancements provide doctors with more control and precision.

Regional Outlook 

North America dominated the surgical snare market in 2023. Medical technological improvements, the rise in gastrointestinal and urological disorders, and the need for less invasive operations contribute to North America's remarkable growth. During interventional cardiology treatments, cardiologists typically use snares to seal defects and extract foreign bodies. During endoscopic treatments, gastroenterologists employ snares to clear polyps and other lesions. This use increases the need for specialized snares that provide safety and precision, which benefits from developments in endoscopic technologies.

Asia Pacific is observed to host the fastest-growing surgical snare market during the forecast period. The adoption of less invasive surgeries, the expansion of research, the growth of healthcare systems, and the growing populations of China and India are all to blame for this. The government authorities hope to provide access to high-quality surgical equipment for various treatments by broadening the scope of medical services. Significant expenditures are being made by several countries in the region to modernize and enlarge their healthcare systems. This means developing state-of-the-art medical facilities, applying technology to the medical industry, and improving access to medical treatment. As hospitals and surgical facilities become more advanced, there is an increasing demand for the newest surgical instruments, such as surgical snares.

Surgical Snare Market Coverage

Market News

• In September 2024, the CH-S700-08-LB, a new 4K camera head for endoscopic urology and gynecological operations, was introduced by Olympus.
• In January 2024, Olympus and Canon Medical decided to work together on endoscopic ultrasound systems. Endoscopic Ultrasonography (EUS) diagnostic ultrasound systems will be developed and manufactured by Canon Medical, while Olympus will handle sales and marketing.
• In April 2023, the American Gastroenterological Association's (AGA) unique venture capital fund, the GI Opportunity Fund, invested in Evo Endo, Inc. This medical device business creates platforms for unsedated transnasal endoscopy (TNE).

Surgical Snare Market Key Players

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

Market Segmentation

By Usability 

• Single-Use
• Reusable

By Application 

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

By End-use 

• Hospitals
• Ambulatory Surgical Centers

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