Sarasota, FL -- (SBWire) -- 12/28/2018 --Global Surgical Snare Market: Overview

Surgical snare is equipment with a wire loop controlled by a mechanism in the handle used to remove growths such as tumors and polyps.

Global Surgical Snare Market: Growth Factors

The major driving factors in the surgical snares market are increasing number of colon polypectomy procedures, growth of the endoscopic ambulatory surgical centers, and a rising preference for minimally invasive surgeries. Apart from this, rapid rise in the geriatric population and need for enhancing the quality of life of patients along with massive need for effective hospital management will lucratively drive surgical snare market in the years ahead. Furthermore, substantial rise in the number of colonoscopy methods performed in the countries such as the U.S. is anticipated to steer the growth of surgical snare market in the years ahead. Massive funding received by the hospitals from government bodies and private firms for endoscopic surgery is anticipated to accelerate surgical snare market growth over the years ahead.

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Global Surgical Snare Market: Segmentation

The global surgical snare market can be divided into usability, application, and end user. Based on the usability, the surgical snare market is segmented into single use and reusable. On the basis of application, the market can be divided into GI endoscopy, laryngoscopy, laparoscopy, gynecology endoscopy, mediastinoscopy, bronchoscopy, and urology endoscopy. Based on the end user, the market is classified into ASC and hospital.

Global Surgical Snare Market: Regional Analysis

Based on regions, the global surgical snare market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Asia Pacific is predicted to grow at a highest CAGR. Support for endoscopy-related research in country such as Japan and the rise in the number of global players (operating in the surgical snares market) in country like China are the major factors driving the growth of the Asia Pacific surgical snare market. Japan is expected to witness growth in the demand for endoscopes due to the rapidly growing geriatric population in the country. Currently, Japan has the highest proportion of people aged 65 years and above, globally. China, a major market in the Asia Pacific region, is expected to offer potential growth opportunities to market players in the coming years. This can be attributed to the increasing demand for endoscopy equipment in the country as a result of the rising geriatric population and the increasing incidence of cancer.

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North America is estimated to be the largest regional market for surgical snares, followed by Europe. The favorable reimbursement scenario in the countries such as U.S., increasing preference of minimally invasive surgeries, and the rising incidence of cancer are the major factors driving the growth of the surgical snare market in North America. The high incidence of colorectal cancer (CRC) in the U.S. 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 U.S.

LATAM, MEA, and European markets are likely to demonstrate huge market growth potential over the coming years.

Global Surgical Snare Market: Competitive Players

The key players of the global surgical snare market include Olympus (Japan), Boston Scientific (U.S.), Cook Medical (U.S.), CONMED Corporation (U.S.), Medline Industries (U.S.), Medtronic (Ireland), Steris (U.S.), Merit Medical Systems (U.S.), Avalign Technologies (U.S.), and other players.

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Global Surgical Snare Market: Regional Segment Analysis

North America
The U.S.
Europe
The UK
France
Germany