Surgical Snares Market Size, Share & Trends Analysis Report By Usability (Single-Use, Reusable), By Applications (GI Endoscope, Laparoscopy, Urology Endoscopy, Gynecology Endoscopy, Arthroscopy, Bronchoscopy, Mediastinoscopy, Laryngoscopy, Others), By End-User (Hospitals, Ambulatory Surgical Centers) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global surgical snares market size was valued at USD 1.09 billion in 2022. It is estimated to reach USD 2.35 billion by 2031, growing at a CAGR of 8.9% during the forecast period (2023–2031). The demand for surgical snares will increase throughout the forecast period due to the expanding geriatric population and the increase in minimally invasive or keyhole surgeries.

Surgical snares as medical tools to remove growths from tissue surfaces are common when the growths are inside bodily cavities. Polyps, tumors, and lymphoid tissue (tonsils) are common growths treated using surgical snares. General and specialist surgeons can locate and remove tissue growths frequently located in challenging-to-access locations using surgical snares of various designs. However, the essential components of a snare are always the same: a handle, a cannula (thin tube), a wire loop at the cannula's tip, and a device for tightening the wire. An internal mechanism in the handle gradually tightens the loop, which encircles the tissue at the growth’s base or stalk (peduncle). The straightforward but efficient design makes it easier for surgeons to remove tissues causing medical difficulties, such as tonsils, or that need to be biopsied to establish whether they are malignant.

Market Dynamics

Global Market Drivers

Rising Geriatric Population

A constant growth in the number of older adults puts more financial strain on the healthcare system. According to the Population Reference Bureau, the number of Americans 65 and older is predicted to nearly double from 52 million in 2018 to 95 million by 2060. The market is anticipated to grow due to the increase in the older population and the increased need for tumor ablation devices.

Furthermore, diabetes and cancer are fairly prevalent among seniors, who are more susceptible to side effects of chemotherapy or surgical procedures. Additionally, a combination of increasing comorbidities and immune system activity decline in the aged population is anticipated to support market expansion. The market for surgical snares is expanding because elderly patients with liver cancer frequently have poor liver function and more comorbidities and are frequently expected to undergo minimally invasive operations for quicker recovery. The geriatric population is the primary target audience for minimally invasive operations since aging compromises the body's fundamental functioning. Therefore, the demand for surgical snares will increase throughout the forecast period due to the expanding geriatric population. 

Increase in Minimally Invasive or Keyhole Surgeries

Endoscopic operations, which detect and treat many illnesses with minimal incisions, are becoming popular worldwide. Surgeons favor endoscopic and robotic operations over open surgery. Minimally invasive surgery reduces postoperative complications, hospital stay, and blood loss. Minimally invasive operations are cheaper than open surgeries. Capsule and robot-assisted endoscopes have raised the demand for minimally invasive endoscopic procedures. Minimally invasive surgery technology and new products are likely to fuel market expansion.

Minimally invasive surgery technology will likely increase endoscopic demand, boosting the surgical snares market. In March 2018, Auris Health, Inc.'s Monarch Platform robotic endoscopic system was FDA-approved. In June 2017, Olympus released a VISERA ELITE II-compatible 3D surgical endoscope. 3D imaging enhances surgical precision. In August 2017, Pentax Medical debuted the compact Linear Ultrasound Endoscope (EG-3270UK) in the US. Precision Fine Needle Aspiration and ultrasound imaging quality are included. PENTAX Medical launched HD+ endoscopes in 2014. 

Global Market Restraint

Lack of Awareness and Low Adoption of Disposable Endoscopes in Hospitals and Diagnostic Centers

Even though surgical snares have several advantages, patients and healthcare providers are not sufficiently aware of them. The adoption of such methods in hospitals and diagnostic facilities is constrained due to insufficient knowledge. The selection between reusable and disposable endoscopes is never easy for medical professionals because each device has advantages and disadvantages that are crucial to consider. Many medical experts continue to question the superiority of disposable endoscopes over reusable ones since reusable endoscopes frequently lack technologically complex components and have sophisticated designs.

Disposable endoscopes may also produce medical waste and are typically not environmentally friendly, which is one of the reasons hospitals have not adopted them as much as they could. Due to the lower adoption of technologically sophisticated items in certain regions, the availability of disposable endoscopes is still restricted in several areas of Asia, the Middle East, Africa, and Latin America. 

Global Market Opportunities

Technological Advancements

The surgical snares market has ongoing room for innovation. Manufacturers may concentrate on creating snares with better aesthetics, increased performance, and ergonomic features. For instance, disposable snares have become more popular due to their affordability and lower danger of cross-contamination. Companies investing in R&D to produce cutting-edge surgical snares can exploit market prospects. The performance and longevity of surgical snares have increased because of the development of sophisticated materials, including shape-memory alloys and biocompatible polymers. Furthermore, the precision and effectiveness of tissue manipulation have improved due to the integration of technology like robots and imaging systems into surgical operations. These technical developments create new possibilities for sophisticated surgical snares that improve surgical results.

Regional Analysis

Based on region, the global surgical snares market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America Dominates the Global Market

North America is the most significant Global Surgical Snares Market shareholder and is estimated to grow at a CAGR of 8.3% over the forecast period. The market is driven by increased acceptance of new and developed sophisticated equipment, the rise in demand for minimally invasive surgical procedures, and the burden of chronic diseases. One of the key reasons driving the market growth is the rising prevalence of cancer and gastrointestinal illnesses in the area. Rising cancer incidence and the availability of cutting-edge diagnostic techniques are anticipated to drive market expansion. Favorable reimbursement regulations, the local presence of important companies, and different government efforts that facilitate access to colorectal cancer screening programs are significant drivers of market expansion.

Europe is anticipated to exhibit a CAGR of 7.8% over the forecast period. The market for surgical snares in Europe is expected to expand as less invasive operations become more popular, endoscopic procedures are used more often for early diagnosis, and disposable surgical snares that lower the risk of infection are developed. Additionally, the aging of the population and the burden of chronic illnesses, including cancer and GI disorders, are propelling market expansion in Europe. Rapid technical progress, including the creation of microendoscopic and robot-assisted procedures, is another driver driving the market's expansion.

Additionally, the market growth is anticipated to be positively impacted by several initiatives being carried out by United European Gastroenterology (UEG) and the European Society of Gastrointestinal Endoscopy (ESGE) to build supportive endoscopy service communities across Europe and encourage collaboration for providing safe, patient-centered, and accessible endoscopic care.

The Asia-Pacific market is expected to surge in demand during the forecast period. The surgical snares market in Asia-Pacific is predicted to develop at the quickest rate. Foreign investments have been drawn to this region as a result of the region's improving healthcare infrastructure and significant economic growth. As a result, major market participants are creating plans for growing their companies in this area. Additionally, increased awareness of the benefits of minimally invasive procedures over open procedures and a high prevalence of chronic diseases are anticipated to create development prospects in this area. The rapidly aging population, particularly in China, is anticipated to fuel market expansion significantly.

Furthermore, leading industry players, including Olympus Corporation in Japan, are also present, which helps the market expand. India, China, and Japan all have significant rates of gastrointestinal illness prevalence, raising the need for endoscopic operations for diagnosis and treatment. Adopting different cancer screening programs is also anticipated to promote market expansion. Thus, rising acceptance of technologically improved goods and minimum treatments for treatment and diagnostics, a rise in the frequency of chronic diseases, and increased awareness of endoscopic devices are anticipated to propel market expansion.

 In Latin America, the market for surgical snares is primarily driven by the presence of large companies and rising hospital expenditure in adopting cutting-edge medical equipment. Additionally, increasing awareness of the utilization of endoscopy for different diagnostic therapeutic procedures, as well as a growing desire for minimally invasive treatments over open operations, are some of the factors anticipated to propel the market. The medical device business has substantial development prospects in this area. With several tiny distributing businesses that make medical products easily accessible, the distribution network in Latin America is highly fragmented.

In the Middle East and Africa, drivers driving the market are an aging population, a high cancer prevalence, and a rising trend of early illness diagnosis. MEA is a significant economic powerhouse with modern technology and a high per capita income. Some reasons anticipated to promote market penetration throughout the projected period include growing government attempts to expand reimbursement coverage. The Gulf Cooperation Council (GCC) is also expanding quickly, a sign that highly advanced medical equipment and healthcare facilities are being developed. The three biggest markets for medical devices in this area are the United Arab Emirates, Saudi Arabia, and Qatar. In the upcoming years, the market is anticipated to be driven by rising illness burden, rising healthcare costs, and increased privatization in the healthcare sector.

Segmental Analysis

The global surgical snares market is bifurcated into usability, applications, composition, and distribution channels.

Based on usability, the global market is bifurcated into single-use reusable. 

The single-use segment dominates the global market and is projected to exhibit a CAGR of 8.8% over the forecast period. The market is primarily driven by rising demand for single-use surgical snares to reduce the risk of infection from medical device use. Infections caused by medical devices are a big worldwide health hazard. Nearly 350 individuals from 41 medical facilities were exposed to or sickened by contaminated equipment, according to U.S. FDA estimates from 2016.

The single-use snares come in various shapes and sizes, such as oval, crescent, soft, and hard wire. Different forms and wire properties are needed in diverse application areas, such as thick wires for better coagulation and hard snares for flat polyps. Over the forecast period, the market expansion is anticipated to be accelerated by the growing usage of single-use devices in medical settings due to their numerous benefits, including convenience and safety.

Based on application, the global market is bifurcated into GI Endoscope, Laparoscopy, Urology Endoscopy, Gynecology Endoscopy, Arthroscopy, Bronchoscopy, Mediastinoscopy, Laryngoscopy, and Others. 

The GI Endoscope segment owns the global market and is predicted to exhibit a CAGR of 9.3% over the forecast period. A few of the causes driving up the usage of gastroscopy include increased procedures, increased endoscope adoption for GI illness diagnosis and treatment, and the availability of cutting-edge gastroscopy devices. According to the CDC, approximately 14.8 million Americans had an ulcer diagnosis in 2015, boosting the use of gastroscopies as a diagnostic tool. The presence of organizations like the United European Gastroenterology, which are committed to encouraging research projects to lessen the burden of GI diseases and raise awareness about GI disorders, is also fueling the market's expansion.

The global market is segmented based on end-users into bleaching and non-bleaching agents. 

The hospital segment dominates the global market and is predicted to exhibit a CAGR of 8.8% during the forecast period. The existence of a sizable number of hospitals and primary care facilities in both established and emerging countries, as well as favorable reimbursement policies for patients who seek treatment in hospitals as opposed to those who do so at ambulatory clinics, are among the major factors positively influencing the surgical snares market growth. But as people's choice for minimally invasive procedures has grown, ambulatory surgical facilities are now doing more endoscopies.

Recent Developments

• August 2022- ŌNŌCOR announces the first human use of the endovascular retrieval system. Endovascular snares, vascular sheaths, and other grab devices are compatible with the N endovascular retrieval system. It aids in removing an intracardiac tumor, a procedure usually required for open heart surgery.
• September 2022- The THUNDERBEATTM Open Fine Jaw Type X surgical energy devices for open surgery have been made available, according to Olympus Corporation (Olympus), a leading global medical technology provider. The THUNDERBEAT Open Fine Jaw Type X surgical energy instrument has a redesigned thermal shield that supports safer treatments. In Japan, the product is offered for sale commercially.