Surgical Snare Market (By Usability: Single-use, Reusable; By Application; By End-use: Hospitals, ASCs) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2024-2033

The global surgical snare market size was valued at USD 1.77 billion in 2023 and it is predicted to surpass around USD 2.63 billion by 2033 with a CAGR of 4.05% from 2024 to 2033. 

Key Pointers

• North America accounted for the largest revenue share of over 46% in 2023.
• Asia Pacific region is experiencing rapid growth, exhibiting the highest CAGR of 4.96% from 2024 to 2033.
• By Usability, the single-use segment accounted for the largest revenue share of over 63% in 2023.
• By Usability, the reusable segment is expected to witness the fastest growth at a CAGR of 4.25% over the forecast period.
• By End-use, the hospital's segment captured the largest revenue share of over 79% in 2023.
• By End-use, Ambulatory Surgical Centers (ASCs) segment is anticipated to register the fastest CAGR of 4.14% from 2024 to 2033.
• By Application, the GI endoscope segment held the largest revenue share of over 33% in 2023
• By Application, the arthroscopy is expected to expand at the fastest CAGR of 4.46% over the forecast period.

Surgical Snare Market Overview

The global surgical snare market has witnessed significant growth in recent years, driven by factors such as increasing prevalence of gastrointestinal disorders, rising demand for minimally invasive surgical procedures, and advancements in technology. Surgical snares are widely utilized in endoscopic procedures for the removal of polyps, tumors, and other abnormal tissues.

Surgical Snare Market Growth Factors

The growth of the surgical snare market is propelled by an increasing prevalence of gastrointestinal disorders, including colorectal cancer and inflammatory bowel disease, has led to a higher demand for surgical snares, which are essential tools for the removal of polyps and tumors during endoscopic procedures. Secondly, advancements in endoscopic techniques and instrument technology have significantly enhanced the efficacy and safety of procedures involving surgical snares, driving their adoption among healthcare providers. Additionally, the rising trend towards minimally invasive surgeries, characterized by shorter recovery times and reduced post-operative complications, has further fueled the demand for surgical snares. 

Report Scope of the Surgical Snare Market

Surgical Snare Market Trends:

• Technological Advancements: The surgical snare market is witnessing a trend towards technological innovations, including the development of more precise and versatile snare designs. Advancements such as the integration of advanced materials, enhanced ergonomic features, and improved maneuverability are enhancing the effectiveness of surgical snares and optimizing patient outcomes.
• Increasing Preference for Minimally Invasive Procedures: There is a growing preference for minimally invasive surgical techniques, driven by factors such as reduced post-operative pain, shorter hospital stays, and faster recovery times. Surgical snares play a crucial role in minimally invasive procedures by enabling the removal of abnormal tissues with minimal trauma to surrounding healthy tissue, thereby contributing to the overall growth of the market.
• Expansion of Indications: The application of surgical snares is expanding beyond traditional gastrointestinal endoscopy to include other medical specialties such as urology, gynecology, and otolaryngology. This diversification of indications is broadening the market scope and creating new opportunities for market players to cater to a wider range of clinical needs.
• Rising Adoption of Disposable Snares: There is a notable trend towards the adoption of disposable surgical snares, driven by concerns over cross-contamination and infection control in healthcare settings. Disposable snares offer convenience, sterility, and cost-effectiveness, making them increasingly preferred by healthcare providers for single-use procedures.
• Emphasis on Training and Education: With the growing complexity of endoscopic procedures involving surgical snares, there is a heightened emphasis on training and education for healthcare professionals. Manufacturers and healthcare institutions are investing in educational programs, workshops, and simulation-based training to ensure safe and effective use of surgical snares, thereby driving market growth through increased adoption and utilization.

Usability Insights

The single-use segment accounted for the largest revenue share of over 63% in 2023. The single-use snares include soft wire oval, crescent-shaped, oval, and hard wire oval snares. Various shapes and wire characteristics are required in various application areas, including thick wires for higher coagulation and hard snares for flat polyps. Increasing adoption of single-use instruments in healthcare facilities to ensure convenience and safety is expected to accelerate the growth of the segment.

The reusable segment is expected to witness the fastest growth at a CAGR of 4.25% over the forecast period. The rising demand for cost-effective and sustainable medical devices, coupled with the increasing focus on reducing medical waste and environmental impact, has fueled the adoption of reusable surgical snares. These devices offer advantages such as durability, ease of sterilization, and long-term cost savings for healthcare facilities.

End-use Insights

The hospital's segment captured the largest revenue share of over 79% in 2023. The hospital segment is the largest revenue-generating segment due to the high surgery volume. According to the CDC, a steep increase in surgical procedures, such as angioplasty and kidney and liver transplants, has been observed in the past few years. Coupled with the growing incidence of trauma, hospitals' demand for surgical equipment has significantly increased in recent years.

The Ambulatory Surgical Centers (ASCs) segment is anticipated to register the fastest CAGR of 4.14% over the forecast period. It can be attributed to lower out-of-pocket costs, better patient accessibility, and decreased facility costs.

Application Insights

The GI endoscope segment held the largest revenue share of over 33% in 2023 and is expected to maintain its dominance over the forecast period. The increasing number of gastroscopies, the rising adoption of endoscopes for diagnosing and treating gastrointestinal (GI) diseases, and the availability of advanced products for gastroscopy are some of the factors boosting the use of gastroscopy.

The arthroscopy is expected to expand at the fastest CAGR of 4.46% over the forecast period. The adoption of arthroscopic procedures is expected to increase owing to the rising geriatric population at risk of age-related disorders, such as arthritis, and rising incidence of joint injuries, such as knee and shoulder. According to the Centers for Disease Control and Prevention estimates, about one in four adults, or about 58.5 million people in the U.S., have been diagnosed with arthritis by doctors.

Moreover, according to the estimates published by the Arthritis Foundation, the number of people with doctor-diagnosed arthritis is expected to be over 78 million by 2040. Hence, such factors are anticipated to provide significant growth opportunities for the market in the upcoming years.

Regional Insights

North America accounted for the largest revenue share of over 46% in 2023. An increase in the adoption of new and advanced devices, a rise in the demand for minimally invasive surgical procedures, and a 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 and the availability of advanced diagnostic procedures are expected to boost market growth.

Furthermore, favorable reimbursement policies and well-established healthcare infrastructure in North America facilitate the adoption of surgical snares. The reimbursement coverage provided by the government and private insurance companies for endoscopic procedures, including the use of surgical snares, encourages healthcare facilities to invest in these devices.

The Asia Pacific region is experiencing rapid growth, exhibiting the highest CAGR of 4.96% over the forecast period. The region's increasing prevalence of gastrointestinal diseases and colorectal cancer has led to rising demand for surgical snares for effective diagnosis and treatment. Moreover, the growing geriatric population in countries like China and India has increased the need for minimally invasive surgical procedures, driving the demand for surgical snares.

Surgical Snare Market Key Companies

• 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

Surgical Snare Market Segmentations:

By Usability 

• Single-use
• Reusable

By Application 

• GI Endoscope
• Laparoscopy
• Urology Endoscopy
• Gynecology Endoscopy
• Arthroscopy
• Bronchoscopy
• Mediastinoscopy
• Laryngoscopy
• Others

By End-use 

• Hospitals
• Ambulatory Surgical Centers

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East And Africa