Report Overview

According to the deep-dive market assessment study by Growth Plus Reports, the global polypectomy snares market is expected to grow at a revenue CAGR of 8.2% from 2023 to 2031.

Polypectomy Snares Market Fundamentals

Polypectomy snares are medical instruments used during a minimally invasive surgical procedure. A polypectomy is a procedure in which abnormal growths called polyps are removed from the inside of the colon or rectum. Polypectomy snares are thin, wire-like devices designed to loop around a polyp and remove it from the wall of the colon or rectum. They are typically made of a flexible material such as nylon or polyurethane and are attached to a handle that allows the surgeon to manipulate the snare. During a polypectomy procedure, the snare is passed through a colonoscope, a thin, flexible tube with a camera on the end inserted into the rectum. The snare is guided to the polyp, looped around it, and then tightened to cut the polyp from the wall of the colon or rectum. The snare is then removed along with the polyp.

Polypectomy Snares Market Dynamics

Colorectal cancer is one of the most common cancers worldwide and is a major driver of the demand for polypectomy snares. Polyps are often precursors to colorectal cancer, and early detection and removal of polyps through endoscopic procedures can reduce the risk of developing colorectal cancer. According to the WHO, in 2020, almost 2 million cases of colorectal cancer were diagnosed. It is the second most common cause of cancer death, leading to almost 1 million deaths per year. There has been a growing preference for minimally invasive surgical procedures, including polypectomy, due to reduced morbidity, quicker recovery time, and cost-effectiveness. This has increased demand for devices such as polypectomy snares that enable effective and safe minimally invasive procedures. Technological advancements in the design and material of polypectomy snares have improved their efficiency, safety, and ease of use. For example, some manufacturers have introduced snares with electrocautery functionality that can simultaneously cut and cauterize polyps, reducing the risk of bleeding and complications. Increased awareness of colorectal cancer and screening programs have resulted in more frequent diagnosis of polyps, leading to higher demand for polypectomy snares and boosting the market growth.  Moreover, the rising geriatric population is also driving the polypectomy snares market growth, as people age, they are more likely to develop polyps, and endoscopic procedures such as polypectomy become increasingly necessary.

However, performing endoscopic procedures such as polypectomy requires specialized training and expertise, and a shortage of skilled healthcare professionals is restricting the polypectomy snares market growth. Although polypectomy snares are generally considered safe, there is a risk of complications such as bleeding, perforation, and infection. Other technologies are also available, such as endoscopic mucosal resection (EMR) and endoscopic submucosal dissection (ESD), which can also remove larger polyps. This is also cramping the polypectomy snares market growth. 

Polypectomy Snares Market Ecosystem

The global polypectomy snares market is analyzed from three perspectives: type, end user, and region. 

Polypectomy Snares Market by Type 

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Based on the type, the global polypectomy snares market is segmented into cold polypectomy snares and hot polypectomy snares.

The cold polypectomy snares segment accounted for the largest market share in 2022.Cold polypectomy snares are a simple technique for removing polyps and require minimal training and expertise. This makes them accessible to many healthcare professionals, including primary care physicians and gastroenterologists. Cold polypectomy snares are considered safe for removing small to medium-sized polyps and have a lower risk of complications than other techniques, such as electrocautery or hot snare polypectomy. Cold polypectomy snares are a cost-effective option for removing polyps, as they do not require additional equipment or resources, such as electrocautery machines or specialized training. Cold polypectomy snares are suitable for removing a wide range of polyps, including sessile and pedunculated polyps, and can be used throughout the gastrointestinal tract. Cold polypectomy snares have been used for several decades and have a well-established safety and efficacy profile. This makes them a trusted and preferred option for many healthcare professionals.

The hot polypectomy snares segment is expected to register a lucrative growth rate during the forecast period. Hot polypectomy snares are more effective for removing larger polyps, particularly those with a wide base, than cold polypectomy snares. This makes them a preferred option for more complex polyp removal cases. Hot polypectomy snares use electrocautery to remove polyps, which can better visualize the treatment area than cold polypectomy snares. This can help to reduce the risk of incomplete polyp removal or damage to surrounding tissue. Hot polypectomy snares use electrocautery to cauterize the blood vessels as they remove the polyp, which can reduce the risk of bleeding compared to cold polypectomy snares. The development of new technologies and techniques, such as hybrid argon plasma coagulation, have made hot polypectomy snares more effective and safer to use, contributing to their increasing adoption.

Polypectomy Snares Market by End User 

Based on the end user, the global polypectomy snares market is segmented into hospitals, ambulatory surgery centers, and specialty clinics.

The hospital segment dominated the polypectomy snares market with the largest revenue share in 2022. Hospitals have access to specialized equipment and facilities required for performing polypectomy procedures, including high-quality endoscopes and polypectomy snares. This makes them better equipped to perform these procedures than smaller healthcare facilities. Hospitals typically have higher patient volumes than other healthcare facilities, meaning they perform more polypectomy procedures. This contributes to the segment's overall dominance in the market. Hospitals can access a wider range of healthcare professionals, including gastroenterologists and other specialists trained in polypectomy procedures. This expertise and experience are critical for performing successful and safe polypectomy procedures. Hospitals are more likely to receive favorable reimbursement policies from insurance providers and government programs for polypectomy procedures, making them a more attractive option for patients seeking these services. Hospitals typically have higher patient care standards, making them a preferred option for patients seeking polypectomy services. This is particularly true for complex cases or cases requiring specialized care. This is also boosting segmental growth. 

The specialty clinics segment is anticipated to register the fastest growth rate during the forecast period. Many patients tend to favor receiving medical attention from specialized clinics with personalized care and shorter waiting times, over traditional hospitals, especially for elective procedures such as polypectomy. Specialty clinics often have access to the latest medical technologies and equipment, including polypectomy snares, which can provide patients with safer and more effective procedures. Specialty clinics often have lower overhead costs than hospitals, translating into lower costs for patients seeking polypectomy procedures. This can make them a more attractive option for patients paying out-of-pocket or with high deductibles. Regulatory bodies are increasingly promoting outpatient clinics for certain medical procedures, including polypectomy. This has led to increased investment in specialty clinics and a greater focus on providing high-quality outpatient care.

Polypectomy Snares Market by Region

The global polypectomy snares market has been segmented geographically into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. 

North America region has the largest polypectomy snares market size in terms of revenue generation. Colorectal cancer is one of North America's leading causes of cancer-related deaths. As a result, a growing need for early detection and treatment has driven the demand for polypectomy snares. According to the American Cancer Society, in the U.S., there will be around 106,970 new colon cancer cases and 46,050 new cases of rectal cancer diagnosed in 2023. The development of new technologies and techniques, such as hybrid argon plasma coagulation and advanced visualization systems, has made polypectomy snares more effective and safer to use. This has increased the adoption and demand for these devices in the region. Minimally invasive procedures are becoming more popular in North America due to their numerous benefits, such as reduced recovery time and decreased risk of complications. Polypectomy snares are a minimally invasive option for removing polyps, and their popularity has increased in recent years due to the rising demand for less invasive procedures. The reimbursement policies for polypectomy procedures have become more favorable in North America, encouraging healthcare providers to offer these procedures to their patients. This has contributed to the growth of the polypectomy snares market in the region. North America has one of the highest healthcare expenditures in the world, which has led to increased investment in medical technologies and devices. This has created a favorable environment for the growth of the polypectomy snares market in the region.

The Asia Pacific region has the fastest growth rate in terms of polypectomy snares market forecast. The prevalence of gastrointestinal disorders, such as inflammatory bowel disease, colorectal cancer, and polyps, is increasing in Asia Pacific. This has led to a growing demand for polypectomy procedures, which has driven the growth of the polypectomy snares market in the region. Asia Pacific has experienced significant growth in its healthcare infrastructure in recent years, which has led to improved access to healthcare services. This has contributed to the growth of the polypectomy snares market, as more patients can access these procedures. Several governments in the Asia Pacific are implementing initiatives to improve the quality of healthcare and increase access to medical services. This has led to improved reimbursement policies for medical procedures, including polypectomy. The development of new and advanced polypectomy snares has improved the safety and effectiveness of the procedure, which has led to increased adoption in the Asia Pacific. The introduction of advanced visualization systems, such as high-definition endoscopes, has made the procedure more precise and effective. Minimally invasive procedures are becoming more popular in the Asia Pacific due to their benefits, such as shorter recovery times, lower costs, and reduced risk of complications. This is also propelling regional growth.

Polypectomy Snares Competitive Landscape

The prominent players operating in the global polypectomy snares market are:

• Boston Scientific Corporation
• Steris
• Avanos Medical, Inc.
• CONMED Corporation
• Changzhou Health Microport Medical Device Co., LTD.
• Diversatek, Inc.
• BLUE ENDO
• Olympus Corporation
• ENDO-FLEX GmbH
• Carmonja GmbH

Polypectomy Snares Strategic Developments

• In November 2021, Micro-Tech Endoscopy launched the Lesion Hunter Cold Snare, a novel cold snare with an ultra-thin Nitinol wire. The Lesion Hunter is a unique cold snare with two great features, the ability to trap the tissue regardless of how flat the lesion is and the cheese cutter's capability to resect even larger lesions. The Lesion Hunter nitinol wire is 61% thinner than traditional braided snare wires and 42% thinner than the market's most popular braided cold snare.

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