Surgical Snare Market - Global Market Dynamics & Major Industry Leaders

                               Global Industry Overview

The Surgical Snare Market is expected to grow from USD 992 million in 2018 to USD 1,255 million by 2023, CAGR of 4.8% during the forecast period.

Major Industry Growth Drivers:    # Increasing Awareness on Colorectal Cancer Screening

# Growth of the Endoscopic Ambulatory Surgery Centers Segment

# Hospital Investments in Endoscopy Instruments

# Rising Patient Preference for Minimally Invasive Surgeries

Major Growth Restraint:

# Clinical Complications in Surgeries

Challenges:

# Dearth of Trained Physicians and Endoscopists

The study involved 4 major activities in estimating the current market size for surgical snares. Exhaustive secondary research was done to collect information on the market as well as its peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.

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Market Size Estimation:

Both the top-down and bottom-up approaches were used to estimate and validate the total size of the surgical snares market. These approaches were also used extensively to estimate the size of various sub-segments in the market. The research methodology used to estimate the market size includes the following:

• The key players have been identified through extensive secondary research
• The surgical snares industry’s value chain and market size, in terms of value have been determined through primary and secondary research.
• All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
• All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.

North America is expected to account for the largest market share during the forecast period.

The surgical snare market is divided into four major regions North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2018, North America is expected to account for the largest share of this market, followed by Europe.

This is mainly attributed to the increasing prevalence of colon cancer and rising awareness of screening, diagnosis, and treatment procedures. The high incidence of colorectal cancer (CRC) in the US has resulted in the provision of reimbursements to increase the affordability of CRC screening procedures in the country. This has increased the affordability of CRC screening procedures, which in turn is driving the number of endoscopic procedures using the snaring technique performed in the US.

The major surgical snares vendors include Olympus (Japan), Boston Scientific (US), Cook Medical (US), CONMED Corporation (US), Medline Industries (US), Medtronic (Ireland), Steris (US), Merit Medical Systems (US), and Avalign Technologies (US).

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