Global Snared Devices Market is Expected to Reach $1.61 Billion by 2031: Says AMR

Allied Market Research
Allied Market Research

Increase in the prevalence of chronic diseases, rise in the geriatric population, and surge in demand for minimal invasive surgical procedure drive the global snared devices market. Based on usability, the single-use segment contributed to the major share in 2021. By region, on the other hand, Asia-Pacific would cite the fastest CAGR by 2031.

Portland, OR, Sept. 26, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Snared Devices Market was estimated at $950.2 million in 2021 and is expected to hit $1.61 billion by 2031, registering a CAGR of 5.2% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

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Report coverage & details:

Report Coverage

Details

Market Size in 2031

$1.61 Billion

CAGR

5.2%

No. of Pages in Report

248

Segments Covered

Usability, Application, End-user, and Region.

Drivers

Increase in the prevalence of chronic diseases

Rise in the geriatric population and surge in demand for minimal invasive surgical procedure

Opportunities

Favorable government policies across the world

Covid-19 scenario-

  • Delay in medical diagnosis and postponement of elective procedures impacted the global snared devices market negatively, especially during the initial period.

  • However, as the country borders started reopening, the import & export of snared devices also got pace.

The global snared devices market is analyzed across usability, application, end-user, and region. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.

Based on usability, the single-use segment contributed to nearly three-fifths of the global snared devices market in 2021, and is expected to dominate by 2031. The same segment would also showcase the fastest CAGR of 5.6% throughout the forecast period.

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Based on application, the GI endoscopy segment held more than one-fourth of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also manifest the fastest CAGR of 5.9% throughout the forecast period.

Based on end-user, the hospitals segment held nearly four-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The ambulatory surgical centers segment, however, would cite the fastest CAGR of 6.0% throughout the forecast period.

Based on region, the market across North America generated more than two-fifths of the global market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The Asia- region would also manifest the fastest CAGR of 5.9% during the forecast period. The other provinces analyzed in the report include Europe and LAMEA.

The key market players analyzed in the global snared devices market report include Boston Scientific Corporation, CONMED Corporation, Cook Medical Inc., Hill-Rom Holdings Inc., Johnson and Johnson, Medline Industries, Inc., Medtronic Plc., Merit Medical Systems, Inc., Olympus Corporation, Sklar Corporation, and Steris Plc. The report provides a detailed analysis of these key players of the global medical tape market. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.


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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.


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