Dublin, Nov. 16, 2018 (GLOBE NEWSWIRE) -- The "Surgical Snare Market by Usability (Singel Use, Reusable), Application (GI Endoscopy, Laparoscopy, Urology Endoscopy, Gynecology Endoscopy, Arthroscopy, Bronchoscopy, Mediastinoscopy, Laryngoscopy), End User (Hospital, ASC) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The surgical snares market size is expected to grow from USD 992 million in 2018 to USD 1255 million by 2023, at a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period.
The surgical snares market is driven by various factors such as the increasing number of colon polypectomy procedures, growth of the endoscopic ASCs segment, and a rising preference for minimally invasive surgeries are the key factors driving the market.
The Hospitals segment is expected to grow at a higher CAGR during the forecast period
The hospitals segment is the faster-growing segment in the surgical snares market, by end user. The surgical snares market, by end user, has been categorized into hospitals, ambulatory surgical centers, and other end users.
The hospitals end-user segment comprises surgical units based in hospitals or attached to hospitals that are equipped with endoscopic instruments and accessories, including surgical snares, to perform endoscopic procedures for diagnostic or treatment purposes.
The increasing investments and incentives received by hospitals from government bodies and private investors for endoscopic surgery and endoscopic instruments further increase the preference for endoscopic surgeries among physicians, which in turn drives growth in the surgical snares market.
The GI endoscopy segment, by application, is projected to hold the largest market share during the forecast period
GI endoscopy helps in the diagnosis as well as treatment of gastrointestinal (GI) diseases. In the coming years, a surge in the demand for GI endoscopy as a means of early diagnosis and treatment is expected in developed countries.
The pivotal factors that are likely to drive the demand for GI endoscopy in these economies include the rapidly increasing aging population, the need to improve the quality of life for patients, and the need for proficient hospital management.
The GI endoscopy segment will, therefore, witness sustained growth, driven by a significant increase in the number of colonoscopy procedures performed in the US, which is a major market for endoscopy products.
North America is projected to hold the largest market share during the forecast period.
North America is estimated to be the largest regional market for surgical snares, followed by Europe. The favorable reimbursement scenario in the US, increasing preference of minimally invasive surgeries and the rising incidence of cancer are the major factors driving the growth of the surgical snares market in North America.
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 surgical snares market comprises major providers such as 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) and other players.
The study includes an in-depth competitive analysis of these key players in the surgical snares market, along with their company profiles, recent developments, and key market strategies.
Key Topics Covered
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Years Covered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Sources
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Sources
2.1.2.1 Key Data From Primary Sources
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.3.1.1 Key Industry Insights
3 Executive Summary
4 Premium Insights
4.1 Surgical Snare Market: Overview
4.2 North America: Market, By Country and End User (2018)
4.3 Global Market, By Usability
4.4 Geographical Snapshot of the Global Market
5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Increasing Awareness on Colorectal Cancer Screening
5.1.1.2 Growth of the Endoscopic Ambulatory Surgery Centers Segment
5.1.1.3 Hospital Investments in Endoscopy Instruments
5.1.1.4 Rising Patient Preference for Minimally Invasive Surgeries
5.1.2 Restraints
5.1.2.1 Clinical Complications in Surgeries
5.1.3 Challenges
5.1.3.1 Dearth of Trained Physicians and Endoscopists
6 Surgical Snare Market, By Usability
6.1 Introduction
6.2 Reusable Surgical Snares
6.2.1 Reusable Surgical Snares to Account for the Largest Market Share in 2018
6.3 Single-Use Surgical Snares
6.3.1 Single-Use Surgical Snares to Register the Highest Growth During the Forecast Period
7 Surgical Snare Market, By Application
7.1 Introduction
7.2 Gastrointestinal (GI) Endoscopy
7.2.1 GI Endoscopy is Expected to Account for the Largest Share of the Surgical Snares Market
7.3 Laparoscopy
7.3.1 Laparoscopy is the Method of Choice for Gallbladder Removal
7.4 Gynecology/Obstetrics Endoscopy
7.4.1 Increasing New Cervical Cancer Cases Will Fuel the Growth of the Gynecology/Obstetrics Endoscopy Market
7.5 Arthroscopy
7.5.1 Advancements in the Field of Hip Arthroscopy are Driving Growth in the Arthroscopy Application Segment
7.6 Urology Endoscopy (Cystoscopy)
7.6.1 Cystoscopy is the Primary Diagnostic Modality for the Diagnosis of Bladder Carcinoma
7.7 Bronchoscopy
7.7.1 Bronchoscopy Techniques are Extensively Used for the Detection and Staging of Lung Cancer
7.8 Mediastinoscopy
7.8.1 Increasing Number of New TB Cases Will Likely Drive the Mediastinoscopy Application Segment in the Coming Years
7.9 Otoscopy
7.9.1 Otoscopy Helps Reveal Signs of Acute Otitis Media, Bulging Eardrums, and Blisters
7.10 Laryngoscopy
7.10.1 Laryngoscopy is Used to Determine the Causes of Throat and Ear Pain
7.11 Retinal Endoscopy
7.11.1 Endoscopy-Assisted Vitrectomy Eliminates Delays in Treatment Times That Could Cause Additional Issues in Traumatized Eyes
7.12 Neuroendoscopy
7.12.1 Growing Prevalence of Neurological Disorders to Support the Growth of the Surgical Snares Market for Neuroendoscopy
7.13 Other Applications
8 Surgical Snare Market, By End User
8.1 Introduction
8.2 Hospitals
8.2.1 Hospitals to Dominate the Surgical Snares End-User Market
8.3 Ambulatory Surgical Centers
8.3.1 ASCS Provide Outpatient Procedures That Do Not Require an Overnight Stay and Significantly Help Improve Quality
8.4 Other End Users
9 Surgical Snare Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 US to Dominate the North American Surgical Snares Market in 2018
9.2.2 Canada
9.2.2.1 Incresing Incidence of Colon Cancer to Drive Market Growth in Canada
9.3 Europe
9.3.1 Europe to Account for the Second-Largest Share of the Surgical Snares Market in 2018
9.4 Asia Pacific
9.4.1 Asia Pacific Market to Grow at the Highest CAGR During the Forecast Period
9.5 Rest of the World
9.5.1 Increasing Investment in Healthcare Infrastructure Will Drive Market Growth in the RoW
10 Competitive Landscape
10.1 Market Overview
10.2 Market Ranking Analysis, 2017
10.3 Competitive Situation and Trends
10.3.1 Product Launches
10.3.2 Acquisitions
10.3.3 Expansions
11 Company Profiles
11.1 Olympus
11.2 Boston Scientific
11.3 Cook Medical
11.4 Conmed
11.5 Medline Industries
11.6 Medtronic
11.7 Steris
11.8 Merit Medical Systems
11.9 Hill-Rom Holdings
11.10 Sklar Surgical Instruments
11.11 Avalign Technologies
For more information about this report visit https://www.researchandmarkets.com/research/tvg4c5/global_surgical?w=12