Snared devices are surgical instrument with a wire loop controlled by a mechanism in the handle used to remove growths, such as tumors and polyps. Similarly, it is designed with three interlaced loops to retrieve and manipulate foreign objects in the body. The snare can be used to retrieve inferior vena cava filters, reposition indwelling venous catheters, fibrin sheath stripping, or to assist in central venal access venipuncture. It consists of a super elastic material, Nitinol, which provides flexibility, kink resistance, and torque control. Furthermore, the snare is designed such that it would rotate and expand for excellent coverage and retrieval within a variety of vessel sizes. Platinum strands are incorporated into the snare loops for excellent visualization under fluoroscopy.

Market scope and structure analysis

COVID-19 scenario analysis

To take care of COVID-infected population, the demand for medical supplies is increasing. Respiratory support devices such as atomizer, life support machine, oxygen generator, and monitor are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment, including masks, gloves, and protective eyeglasses. With rise in number of COVID-19 cases worldwide, the need for medical supplies keeps on rising among both healthcare professionals and civil population for precautionary measures. Manufacturers of these products have a chance to capitalize this increased demand of medical supplies to ensure adequate and continuous supply of personal protective equipment in the market.

Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

The major factor affecting the industry includes increase in the preference for minimally invasive surgeries. Surge in the number of ambulatory surgical centers is expected to help the industry gain traction in the coming years. In addition, increase in the demand for snare instruments would boost the industry in the next few years. However, the complications involved in the usage of the snare devices may hinder the market growth.

Growth in the number of product launches 

Increase in the number of product launches would help the industry flourish during the forecast period. For instance, in October 2019, Olympus, a global technology leader in designing and delivering innovative solutions for medical and surgical procedures, among other core businesses, announced the U.S. launch of the SnareMaster Plus hybrid hot/cold snare. The Olympus-designed and manufactured SnareMaster Plus allows Olympus to cover all procedural applications for polypectomy through its SnareMaster portfolio, which includes the SnareMaster Soft and the SnareMaster Spiral.

SnareMaster Plus is a hybrid hot/cold snare with a unique hexagonal shape and thin wire design providing optimal flexibility and stiffness for accurate placement on tissue and precise cutting ability. In addition to its clinical value, the device provides 2-in-1 hot and cold polypectomy options, reducing the need for two separate snares. This combination feature reduces the need for device exchange, resulting in potential improvements in efficiency and economic value in procedure time. At just 0.3mm, the SnareMaster Plus is the thinnest snare wire in the SnareMaster portfolio.

Surge in prevalence of tumors 

Increase in the prevalence of tumors is anticipated to boost the industry growth in the coming years. According to the statistics given by the American Society of Clinical Oncology in 2020, an estimated 23,890 adults (13,590 men and 10,300 women) in the U.S. are diagnosed with primary cancerous tumors of the brain and spinal cord. A person’s likelihood of developing this type of tumor in their lifetime is less than 1%. Similarly, brain tumors account for about 85% to 90% of all primary central nervous system (CNS) tumors.

Furthermore, about 3,540 children under the age of 15 will also be diagnosed with a brain or CNS tumor this year. 

Key segments covered

Key benefits of the report:

• This study presents the analytical depiction of the global snared devices industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global snared devices market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global Snared Devices market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed global snared devices market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the snared devices market research report:

• Which are the leading players active in the snared devices market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in tasking further strategic steps?