Surgical Snares Market to Grow with a CAGR of 5.24% through 2028
Shift towards minimally invasive procedures is expected
to drive the Global Surgical Snares Market growth in the forecast period,
2024-2028.
According to TechSci Research report, “Surgical
Snares Market – Global Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”, the Global Surgical Snares Market stood at USD
1.42 billion in 2022 and is anticipated to grow with a CAGR of 5.24% in the
forecast period, 2024-2028. Surgical snares
are essential medical instruments used for the precise removal of abnormal
tissues and growths during various surgical procedures. This versatile tool is
utilized across multiple medical disciplines, including gastroenterology,
urology, and gynecology. As the world grapples with an increasing prevalence of
chronic diseases and an aging population, the demand for surgical interventions
and advanced medical equipment, including surgical snares, has been on the rise.
One of the primary drivers of the surgical snares market is the growing
incidence of chronic diseases, particularly in the fields of gastroenterology
and oncology. Conditions such as colorectal polyps, gastrointestinal tumors,
and bladder cancer often necessitate surgical removal. The increasing
prevalence of these diseases, coupled with early detection and diagnosis, has
led to a surge in the demand for surgical interventions, thereby driving the
surgical snares market. These instruments enable precise and efficient removal
of abnormal tissues, minimizing the impact on surrounding healthy tissue.
In recent years, there has been a significant shift in
surgical techniques towards minimally invasive procedures. Minimally invasive
surgeries offer several advantages, such as smaller incisions, reduced
scarring, shorter hospital stays, and faster recovery times. Surgical snares
are instrumental in these procedures, as they enable surgeons to remove
unwanted tissues through small incisions or endoscopes with great precision.
This has led to a higher adoption of surgical snares as patients and healthcare
providers seek less invasive and more patient-friendly treatment options.
The continual advancement of medical technology has
played a pivotal role in driving the surgical snares market. Manufacturers have
been developing more sophisticated and efficient surgical snares, incorporating
features such as improved cutting mechanisms, enhanced ergonomics, and better
visualization options. These technological advancements not only make
procedures more precise but also contribute to the overall patient experience,
making surgical snares more appealing to healthcare professionals and patients
alike.
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Healthcare is increasingly shifting toward a
patient-centric model, where the patient's needs and preferences are at the
forefront of treatment decisions. This approach is particularly important for
individuals with rare hemophilia factor disorders, as their needs can vary
significantly from those with more common forms of the disease. As healthcare
providers tailor treatments to individual patient profiles, the market benefits
from increased demand for personalized therapies.
The Global Surgical Snares
Market is segmented into Usability, Application, End-use, Regional Distribution, And
Company.
Based on the Usability, Reusable snares emerged as the dominant segment in the global
market for Global Surgical Snares Market in 2022. Reusable snares are typically
manufactured to higher quality and durability standards. They undergo rigorous
cleaning and sterilization processes between uses, ensuring that they maintain
their integrity and functionality over multiple cycles. This is particularly
important for surgical instruments where precision is critical. Reusable
surgical snares are considered more cost-effective in the long run. While the
initial purchase cost may be higher than that of single-use snares, the ability
to sterilize and reuse them for multiple procedures significantly lowers the
per-use cost. Healthcare facilities, especially those dealing with a high
volume of procedures, find this cost efficiency appealing. Reusable surgical
snares align with the growing global emphasis on sustainability and reduced
medical waste. Single-use snares, by their nature, generate more medical waste,
contributing to environmental concerns. Reusable snares reduce waste
production, making them a more environmentally friendly choice.
Based on the Application, GI Endoscopy emerged as the
dominant segment in the global market for Global Surgical Snares Market in
2022. The early detection and prevention of gastrointestinal conditions are
crucial for improving patient outcomes and reducing healthcare costs. GI
endoscopy, with the assistance of surgical snares, allows for the early
identification and removal of potentially problematic growths, thereby
preventing disease progression. Gastrointestinal conditions, including
colorectal polyps and gastrointestinal tumors, are prevalent worldwide. As a
result, there is a substantial need for minimally invasive diagnostic and
therapeutic procedures. GI endoscopy is a common technique for visualizing and
treating these conditions, and surgical snares play a critical role in such
procedures. The medical community and patients increasingly favor minimally
invasive GI procedures due to their numerous advantages, such as shorter
recovery times, reduced patient discomfort, and smaller incisions. Surgical
snares are indispensable tools in GI endoscopy, enabling the precise removal of
abnormal tissues like polyps and tumors while minimizing damage to healthy
tissue.
Based on the End-use, Hospitals emerged
as the dominant segment in the global market for Global Surgical Snares Market
in 2022. Hospitals offer a wide range of healthcare services, making
them the primary choice for patients with diverse medical needs. Within a
hospital, surgical snares find applications in various medical specialties,
from gastroenterology to gynecology, orthopedics, and more. This versatility in
addressing different medical conditions contributes to a significant demand for
surgical snares. Hospitals perform a large volume and variety of surgical
procedures, often involving minimally invasive techniques where surgical snares
play a crucial role. The high number and diversity of surgeries conducted in
hospital settings create a substantial demand for these instruments.
North America emerged as the dominant
player in the global Surgical Snares Market in 2022, holding the largest market
share. The region is a hub for medical research and innovation. North American
companies and research institutions continually invest in developing and
enhancing medical devices, including surgical snares. The availability of
technologically advanced surgical snares with improved cutting mechanisms,
enhanced visualization options, and ergonomic designs has propelled the
market's growth in the region. North America is known for its substantial
healthcare spending. The United States, in particular, allocates a significant
portion of its GDP to healthcare, ensuring that healthcare facilities have the
financial resources to invest in cutting-edge medical equipment. This high
healthcare spending is a driving force behind the extensive utilization of
surgical snares in the region.
Major companies operating in Global Surgical
Snares Market are:
- Novo Nordisk
- Biogen
- Bayer AG
- Pfizer, Inc.
- Shire Pharmaceuticals
- Baxalta (Baxter Healthcare)
- CSL Behring
- Bio Products Laboratory Ltd.
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“The Global Surgical
Snares Market is poised for significant growth in the coming years. Anticipated
growth drivers include the rising prevalence of chronic diseases, which
necessitate precise and minimally invasive surgical procedures, with surgical
snares playing a pivotal role in these interventions. Additionally, there is a
growing focus on early detection and prevention, which is driving the demand
for surgical snares in diagnostic and therapeutic applications. Technological
advancements in these instruments, along with their integration into advanced
healthcare infrastructure, are expected to further fuel market expansion. The
aging global population, coupled with increased healthcare expenditure and the
dominance of hospitals as key end-users, reinforces the promising outlook for
the global surgical snares market.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based management consulting firm.
“Surgical Snares Market - Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Usability (Single-use, Reusable),
By Application (GI Endoscope, Laparoscopy, Urology Endoscopy,
Gynecology, Endoscopy, Arthroscopy, Bronchoscopy, Mediastinoscopy,
Laryngoscopy, Others), End-use (Hospitals, Ambulatory Surgical Centers, Others), Region and Competition”, has evaluated the future growth potential of Global
Surgical Snares Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Surgical
Snares Market.
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