The global Surgical Snares market gathered revenue around USD 900 Million in 2020 and market is set to grow USD 3.9 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 10.4% during the prediction period 2021 to 2027.
Growth Factors:
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.
The market is primarily driven by various factors such as an increase in the number of endoscopic ambulatory surgery centers and 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 increasing patient awareness are among the factors aiding in the market growth. Favorable reimbursement policies in major markets are promoting demand for surgical snares in various medical procedures.
A constant rise in the geriatric population is leading to an increase in the financial burden on the healthcare system. According to the Population Reference Bureau, the number of people in the U.S. aged 65 and above is estimated to nearly double from 52 million in 2018 to 95 million by 2060. Such a rise in the elderly population is expected to subsequently result in greater demand for ablation devices for the treatment of tumors, thereby boosting the market growth.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Surgical Snares market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Surgical Snares market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Surgical Snares market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Regional analysis:
North America accounted for the largest share of over 45.0% in 2020. An increase in the adoption of new and advanced devices, a rise in the demand for minimally invasive surgical procedures, and growth in chronic disease burden are among the factors driving the market. The growing burden of gastrointestinal disorders and cancer in the region is also one of the significant factors propelling the market growth. Rising cancer incidence, coupled with the availability of advanced diagnostic procedures, is expected to boost the market growth.
Europe accounted for a significant share in 2020. The market in Europe is anticipated to grow owing to an increase in the preference for minimally invasive surgeries, an increase in the usage of endoscopic procedures for early diagnosis, and the emergence of disposable surgical snares that ensure reduced risk of infections. Moreover, the growth of the geriatric population and an increase in the burden of chronic diseases, such as cancer and GI diseases, are driving the market in Europe.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Some of the prominent players in the 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
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
- By Application
- GI Endoscope
- Laparoscopy
- Urology Endoscopy
- Gynecology Endoscopy
- Arthroscopy
- Bronchoscopy
- Mediastinoscopy
- Laryngoscopy
- Others
- By End-use
- Hospitals
- Ambulatory Surgical Centers
By Geography
North America
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Surgical Snares market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Surgical Snares market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Surgical Snares markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
- In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.
Industry participants involved in this research study include:
- CEOs, VPs, market intelligence managers
- Procuring and national sales managers technical personnel, distributors and resellers
- Research analysts and key opinion leaders from various domains
Key Points Covered in Surgical Snares market Study:
- Growth of Surgical Snares in 2021
- Market Estimates and Forecasts (2017-2027)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for Surgical Snares and How to Navigate
- Key Product Innovations and Regulatory Climate
- Surgical Snares Consumption Analysis
- Surgical Snares Production Analysis
- Surgical Snares and Management
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