Endoscopic Snares Market

Endoscopic Snares Market Forecast and CAGR:

According to the latest research by Persistence Market Research, the endoscopic snares market is expected to witness 5.6% growth during the forecast period 2021-2031. The growth will be experienced due to the rising number of ambulatory surgical centres across the world that performs different surgical procedures. Therefore, the growth in endoscopic snares will be expected at a high CAGR.

What is Driving Demand for Endoscopic Snares?

An endoscopic snare is a kind of instrument that is used for imaging and removing the diseased part from inside the body. Surgical snares are mainly used for cutting small tumors from the base. This product has a good growth opportunity during the forecast period due to the rising prevalence in the number of tumor cases across the globe.

The demand for endoscopic snares is increasing due to various factors such as the rising number of surgeries performed in the world and the increasing cases of chronic diseases. Chronic diseases like kidney disorder and cardiovascular diseases are the chief factor that increases the demand for endoscopic snares during the forecast period from 2021 to 2031 across the globe.

The rising demand for minimally invasive surgical procedures and imaging techniques also enhances the growth of endoscopic snares during the forecast period from 2021 to 2031 in the world.

Also, an increase in the number of gastrointestinal procedures supports the growth of endoscopic snares shortly from 2021 to 2031.

Increasing Prevalence of Cancer Likely to Propel the Growth of Endoscopic Snares Market:

The advancement in endoscopic technology helps the doctor in early detection of cancer like high-quality images production. The prevalence of cancer is increasing in the world that leads to enhance the growth of endoscopic snares during the forecast period from 2021 to 2031.

For instance, according to WHO, there were approximately 9.8 million deaths registered in the world in 2018. To reduce the number of deaths early detection of cancer is important.

Therefore, with the rising prevalence of cancer the endoscopic snares market will also grow during the forecast period from 2021 to 2031.

U.S. and Canada Endoscopic Snares Market Outlook:

U.S. and Canada will remain the leading players in the endoscopic snares market worldwide. This is primarily due to the presence of key players and the increasing prevalence of cancer in the region.

For instance, according to a publication of the American Cancer Society journal, A Cancer Journal for Clinicians, there were approximately 1.8 million new cases registered in the U.S. in 2020.

Therefore, the sale of endoscopic snares will be increased in the region during the forecast period from 2021 to 2031.

Europe Demand Outlook for Endoscopic Snares:

Europe keeps growing its healthcare sector to meet the increasing demand of the increasing population and the rise in the prevalence of chronic diseases in older adults.

Older adults of 65 and above age are more prone to various chronic diseases. According to WHO, 20% population of Europe comprises 65 and above age in 2020 i.e. approximately equal to 91 million.

Therefore, the sale of endoscopic snares will be enhanced in the region during the forecast period from 2021 to 2031.

Who are the Key Manufacturers and Suppliers of Endoscopic Snares?

Some of the key players of endoscopic snares are

• Medtronic
• Boston Scientific Corporation
• Medline Industries Inc.
• Olympus Corporation
• Cook Medical
• CONMED Corporation
• Steris Corporation
• Merit Medical Systems
• Others.

They follow strategies like merger & acquisition, new product launch, partnership or collaborations, patent gaining and getting FDA approval. For instance, in April 2021, Medtronic collaborated with Surgical Theater that strengthens the Medtronic cranial product portfolio.

Key Segments:

By Product Type

• Oval snare with spikes
• Spiral oval snare
• Snare inflator
• Rotatable snare

By Usability

• Single-Use
• Reusable

By Application

• GI Endoscope
• Laparoscopy
• Urology Endoscopy
• Gynaecology Endoscopy
• Other

By End-User

• Hospitals
• Ambulatory Surgical Centres
• Specialized Clinics
• Others

By Region

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• The Middle East and Africa

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Endoscopic Snares Market Report Highlights:

• Shifting Industry dynamics
• In-depth market segmentation
• Historical, current and projected industry size recent industry trends
• Key Competition landscape
• Strategies for key players and product offerings
• Potential and niche segments/regions exhibiting promising growth
• A neutral perspective towards market performance
• Must-have information for market players to sustain and enhance their market footprint

NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.

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