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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