The global Surgical Snare 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 major driving factors in the surgical snares market are increasing number for colon polypectomy procedures, growth of the endoscopic ASCs segment, and a rising preference for minimally invasive surgeries are the key factors.

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). These players have adopted various growth strategies such as acquisitions, new product launches and approval, expansions, to expand their presence in the global surgical snares market. These strategies adopted by major players from 2015 to 2018. This has helped them to innovate their offerings and broaden their customer base.

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Olympus Corporation has established its presence in diversified markets; this has helped it to minimize risks and dependency on any particular business segment. The company has a strong product portfolio, which enables it to strengthen its position in the market. It has strong R&D capabilities, which provide it with a strategic advantage over its competitors. The company is focusing on R&D to meet the demands of the surgical snare industry. The company focuses on obtaining market-driven solutions to meet the increasing demand for surgical snare products.

Boston Scientific Corporation focuses on catering to surgical snare market. The company leads in terms of operational and financial strength and has focused on surgical snare market through both organic means. Boston has strong geographic presence in North America and Asia Pacific, which helps company to execute its sales and marketing activities. Company continuously focused on R&D investment, which helps company to expand its product portfolio through new product launches. For instance, in 2015, Boston Scientific launched Captivator EMR Device for endoscopic mucosal resection surgical procedure.

Global Industry Insights:

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.

The market for surgical snare is expected to grow from USD 992 million in 2018 to USD 1,255 million by 2023, at a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period.

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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.

Data Triangulation:

After arriving at the overall market size using the market size estimation processes explained above the market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and sub-segment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides of the surgical snares industry.

Report Objectives:

• To define, segment, and project the global market size for surgical snares
• To understand the structure of the surgical snares market by identifying its various sub-segments
• To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
• To project the size of the market and its sub-markets, in terms of value and volume, with respect to 4  regions (along with their respective key countries)
• To profile key players and comprehensively analyze their core competencies
• To understand the competitive landscape and identify the major growth strategies adopted by players across key regions
• To analyze the competitive developments such as expansions & investments, new product launches, and acquisitions in the surgical snares market

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