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
Report Scope | Details |
Market Size | USD 3.9 Billion by 2027 |
Growth Rate | CAGR of 10.4% From 2021 to 2027 |
Base Year | 2020 |
Forecast Period | 2021 to 2027 |
Historic Data | 2017 to 2020 |
Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
Segments Covered | Usability, application, end use And Region |
Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
Companies Mentioned | 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. |
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.
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 Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
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:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Surgical Snares market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Surgical Snares Market, By Usability
7.1. Surgical Snares Market, By Usability, 2021-2027
7.1.1. Single-use
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Reusable
7.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 8. Global Surgical Snares Market, By Application
8.1. Surgical Snares Market, by Application, 2021-2027
8.1.1. GI Endoscope
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Laparoscopy
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Urology Endoscopy
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.4. Gynecology Endoscopy
8.1.4.1. Market Revenue and Forecast (2016-2027)
8.1.5. Arthroscopy
8.1.5.1. Market Revenue and Forecast (2016-2027)
8.1.6. Bronchoscopy
8.1.6.1. Market Revenue and Forecast (2016-2027)
8.1.7. Mediastinoscopy
8.1.7.1. Market Revenue and Forecast (2016-2027)
8.1.8. Laryngoscopy
8.1.8.1. Market Revenue and Forecast (2016-2027)
8.1.9. Others
8.1.9.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Surgical Snares Market, By End User
9.1. Surgical Snares Market, by End User, 2021-2027
9.1.1. Hospitals
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Ambulatory Surgical Centers
9.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 10.Global Surgical Snares Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, By Usability (2016-2027)
10.1.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.3. Market Revenue and Forecast, by End User (2016-2027)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, By Usability (2016-2027)
10.1.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.4.3. Market Revenue and Forecast, by End User (2016-2027)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, By Usability (2016-2027)
10.1.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.5.3. Market Revenue and Forecast, by End User (2016-2027)
10.2. Europe
10.2.1. Market Revenue and Forecast, By Usability (2016-2027)
10.2.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.3. Market Revenue and Forecast, by End User (2016-2027)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, By Usability (2016-2027)
10.2.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.4.3. Market Revenue and Forecast, by End User (2016-2027)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, By Usability (2016-2027)
10.2.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.5.3. Market Revenue and Forecast, by End User (2016-2027)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, By Usability (2016-2027)
10.2.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.6.3. Market Revenue and Forecast, by End User (2016-2027)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, By Usability (2016-2027)
10.2.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.7.3. Market Revenue and Forecast, by End User (2016-2027)
10.3. APAC
10.3.1. Market Revenue and Forecast, By Usability (2016-2027)
10.3.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.3. Market Revenue and Forecast, by End User (2016-2027)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, By Usability (2016-2027)
10.3.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.4.3. Market Revenue and Forecast, by End User (2016-2027)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, By Usability (2016-2027)
10.3.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.5.3. Market Revenue and Forecast, by End User (2016-2027)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, By Usability (2016-2027)
10.3.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.6.3. Market Revenue and Forecast, by End User (2016-2027)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, By Usability (2016-2027)
10.3.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.7.3. Market Revenue and Forecast, by End User (2016-2027)
10.4. MEA
10.4.1. Market Revenue and Forecast, By Usability (2016-2027)
10.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.3. Market Revenue and Forecast, by End User (2016-2027)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, By Usability (2016-2027)
10.4.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.4.3. Market Revenue and Forecast, by End User (2016-2027)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, By Usability (2016-2027)
10.4.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.5.3. Market Revenue and Forecast, by End User (2016-2027)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, By Usability (2016-2027)
10.4.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.6.3. Market Revenue and Forecast, by End User (2016-2027)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, By Usability (2016-2027)
10.4.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.7.3. Market Revenue and Forecast, by End User (2016-2027)
10.5. Latin America
10.5.1. Market Revenue and Forecast, By Usability (2016-2027)
10.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.3. Market Revenue and Forecast, by End User (2016-2027)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, By Usability (2016-2027)
10.5.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.4.3. Market Revenue and Forecast, by End User (2016-2027)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, By Usability (2016-2027)
10.5.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.5.3. Market Revenue and Forecast, by End User (2016-2027)
Chapter 11. Company Profiles
11.1. Medtronic
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Boston Scientific Corporation
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Medline Industries, Inc
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Olympus Corporation
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Cook
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. CONMED Corporation
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Steris
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Merit Medical Systems
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Avalign Technologies
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Hill-Rom Holdings, Inc
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms