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Polypectomy Snare Market Driven by Increased Health Spending and Rising Focus on Colorectal Cancer Screening
Polypectomy Snare Market
The Polypectomy Snare Market is expected to grow at a 6.0 % CAGR during the forecast period for 2023-2031.
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The clinical use of polypectomy snares is integral to the polypectomy procedure, a commonly performed medical intervention involving the removal of polyps-abnormal tissue growths that protrude into hollow organ spaces. These snares, typically comprising a wire loop, are designed to encircle and excise polyps efficiently. Polypectomy is a critical preventive measure, as polyps can potentially progress to malignancies. Polypectomy snares are utilized in both colon and uterine polypectomy procedures, although polyp growth may occur in other anatomical regions where supporting clinical evidence remains limited.
The demand for polypectomy snares has increased in response to rising incidences of colon and uterine polyps, along with growing awareness and implementation of colorectal cancer (CRC) screening programs, which facilitate both detection and removal of polyps. The broader adoption of minimally invasive surgical techniques further supports market growth. Additionally, increased healthcare expenditure and strategic mergers and acquisitions among key industry stakeholders are anticipated to strengthen market expansion in the coming years.
Geographically, North America is projected to lead the polypectomy snare market throughout the forecast period, driven by a high volume of surgical procedures and a strong preference for minimally invasive interventions, particularly in the United States. Favorable reimbursement policies in the region are also expected to enhance demand for advanced medical devices, including polypectomy snares. Meanwhile, the Asia-Pacific market is expected to experience robust growth, supported by the increasing number of minimally invasive surgeries and heightened demand for innovative, technologically advanced devices with improved safety profiles. These factors are likely to create substantial opportunities for market development over the forecast horizon.
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Major market players operating in the polypectomy snare market include
Medi-Globe, Aohua Endoscopy, EndoMed Systems, Pauldrach Medical, Blue Endo, Carmonja, Endo-Flex, Mednova Medical Technology, EMED, U.S. Endoscopy (Steris PLC), Boston Scientific Corporation, ENDO-TECHNIK W. Great, Endo-Therapeutics, Jiangsu Kangjin Medical Instruments, EndoChoice, Ovesco Endoscopy, Healthcare Medical Changzhou, and Sejong Medical among others.
Recent collaborations and agreements in the market:
• In October 2019, Olympus announced the SnareMaster Plus hybrid hot/cold snare in the United States. Through its SnareMaster Spiral and SnareMaster portfolio, including the SnareMaster Soft, Olympus, which developed and produced the SnareMaster Plus, can fulfil all procedural applications for polypectomy.
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Market Segments
Global Polypectomy Snare Market, by Product Type, 2022-2030 (Value US$ Mn)
• Reusable Polypectomy Snares
• Single-use Polypectomy Snares
Global Polypectomy Snare Market, by End-User, 2022-2030 (Value US$ Mn)
• Hospitals
• Specialty Clinic
• Ambulatory Surgical Center
Global Polypectomy Snare Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Polypectomy Snare Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Polypectomy Snare Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Polypectomy Snare Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Polypectomy Snare Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Polypectomy Snare Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
Why should buy this report:
• To receive a comprehensive analysis of the prospects for the global polypectomy snare market
• To receive an industry overview and future trends of the polypectomy snare market
• To analyze the polypectomy snare market drivers and challenges
• To get information on the polypectomy snare market value (US$Mn) forecast to 2030
• Significant investments, mergers & acquisitions in the polypectomy snare market industry
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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