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The dynamics of the cannula market reveal the intricate relationship between several aspects that impact its development and progress. The increasing demand of cannulas which are quite delicate tubes used in medicine has been necessitated by growing health business across the globe. Cannulas industry is driven by number of people with chronic illnesses who require more advanced medical interventions among others things. Additionally, the industry has been accelerated by the fact that old people have various health complications for which they must seek attention from doctors.
Similarly, innovations in medical device technology have defined this market as well. Through innovation such as creation of new materials, improved designs and additional functionalities; they have come up with improved and user-friendly cannulas. As a result of these technological breakthroughs the use of cannulas has grown extensively in many medical applications thus improving their overall performance significantly.
One thing that affects market dynamics, is the rise in importance of minor procedures. The reason behind a high demand for cannulas is the growing number of patients and healthcare providers searching for alternatives to standard surgical options. These devices are used by doctors to perform lots of treatments with less pain, quicker recovery times and fewer medical bills. This has promoted growth of cannula market given their increased use in minimally invasive medical procedures.
A variety of factors including the expansion of foreign trade have contributed to the skyrocketing growth rate of cannula market. More medical supplies are available on the market now with wide distribution networks emerging as a result. Moreover, it has become common practice for major companies within an industry to collaborate as a partnership or cooperation which enhances competition within markets and encourages innovation.
Regulatory problems represent another important impact on cannula market dynamics. Marketing, distribution, and manufacturing parts affect cannulas due to stringent regulatory frameworks as well as compliance criteria. In order to influence overall market dynamics, players should maintain quality standards and obtain government clearances.
Numerous well-known businesses exist within this competitive environment each trying to enlarge their share in the marketplace. A strategy employed by many firms experiencing tough completion comprises developing new products lines, lowering prices or entering into other geographic areas. Cannula products which are both new and better continue being launched into the markets through research & development so that these organizations can survive.
Cannula Market Highlights:
Cannula Market Overview
Cannula Market size is expected to reach USD 286.4 billion by 2030 at CAGR 6.7% during the forecast period 2022-2030, says market research future (MRFR). A cannula is a small hollow tube with a sharpened and retractable inner core that is inserted into a vein, artery, or body cavity to deliver medication and remove fluids. Cannulae are available for a range of procedures. During heart surgery, for example, an intravenous cannula is used to achieve cardiopulmonary bypass. A nasal cannula is used to supply oxygen by placing the plastic tubing behind the nose. It's also commonly used for filler injections because it's less painful, reduces the danger of bleeding and bruising, and has more flexibility than hypodermic needles. It is frequently utilized in hospitals, ambulatory surgery centers (ASCs), blood banks, laboratories, and pathology laboratories all over the world due to its many qualities. The growing number of surgeries, innovations in healthcare facilities, more investment in research & development, a large patient pool, and rising government funding are the major factors driving this market. A primary driver of this business is the expanding usage of minimally invasive surgery (MIS) therapies.
Segmentation: The Cannula market has been segmented into product, material, application and end user. The market, on the basis of product, has been segmented into cardiac cannulas, nasal cannulas, vascular cannulas, dermatology cannulas, arthroscopy cannulas and others.The market, by material, has been segmented into plastic (PVC), silicone and metal (stainless steel).The market, by application, has been segmented into cardiovascular surgery, oxygen therapy, general surgery, plastic/cosmetic surgery, orthopaedic surgery and others. The market, by end user, has been segmented into hospitals, ambulatory surgical centers and others. The hospitals segment is anticipated to hold the largest market share owing to increase in hospitalizations and large number of surgeries in hospitals. The ambulatory surgical centers are expected to grow at the highest CAGR owing to the increasing demand for modern healthcare facilities.The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Cannula Market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada. The European Market has been segmented into Western Europe and Eastern Europe. Western Europe has been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The Market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The Cannula market in the Middle East & Africa has been segmented into the Middle East and Africa.
Key players: Medtronic, Edwards Lifesciences Corporation, Terumo Cardiovascular Systems Corporation, LivaNova PLC, Smith & Nephew, CONMED Corporation, Smiths Medical, Teleflex Incorporated, Boston Scientific Corporation, McKesson Medical-Surgical Inc., Harsoria Healthcare Pvt. Ltd., ISPG Inc., ILIFE MEDICAL DEVICES PRIVATE LIMITED (INDIA), Denex International, BD and others are some of the key players in the Cannula market.
Regional Market Summary
Geographically, the Americas is anticipated to dominate the Cannula market owing to rising healthcare expenditure, increase in number of surgeries and developing healthcare infrastructure. According to Centers Medicare and Medicaid Services, National Healthcare Expenditure grew by 4.3% to USD 3.3 trillion in 2016 from the previous year. Europe is expected to hold the second largest position in the market. The market growth in this region is attributed to the government support and improving healthcare related research & development activities. The Cannula Market in Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. The Asia-Pacific region is expected to be fastest growing region owing to the increasing demand for minimally invasive surgeries and rising healthcare spending. According to the World Bank Group, India spent 3.89% of its Gross Domestic Product (GDP) on health. The Middle East & Africa are expected to hold the least share of the market. The market growth in this region is expected to be driven by a developing healthcare infrastructure.Recent Development
LivaNova announced Bi-Flow, a novel range of femoral artery cannulas that allows stable bidirectional perfusion and is the only femoral arterial cannula that prevents limb ischemia, in July 2019. Europe and Canada are among the markets where this new equipment is accessible. In addition, the corporation plans to extend its market in the United States, thereby boosting its industry share. Terumo Blood and Cell Technologies' (Terumo BCT) unique plasma collection technology was authorized by the US Food and Drug Administration (FDA) in March 2022. Terumo BCT is a medical technology company that leads the cannula market. Rika is a next-generation automated technology designed to improve the experience of plasma facility employees and donors. Rika was founded in response to the industry's need for technological advancement and process optimization to boost productivity and quality while maintaining donor safety and a sufficient plasma supply.
Market of Cannula, by Product:
- Cardiac Cannulas
- Nasal Cannulas
- Vascular Cannulas
- Dermatology Cannulas
- Arthroscopy Cannulas
- Others
Market of Cannula, by Material
- Plastic (PVC)
- Silicone
- Metal (Stainless Steel)
Market of Cannula, by Application
- Cardiovascular Surgery
- Oxygen Therapy
- General Surgery
- Cosmetic/Plastic Surgery
- Orthopedic Surgery
- Others
Market of Cannula, by End User
- Hospitals
- Ambulatory Surgical Centers
- Others
Market of Cannula, by Region:
- Americas
- North America
- US
- Canada
- South America
- Europe
- Western Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Western Europe
- Eastern Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- The Middle East & Africa
- Middle East
- Africa
Cannula Market, by Key Players:
- Medtronic
- Edwards Lifesciences Corporation
- Terumo Cardiovascular Systems Corporation
- LivaNova PLC
- Smith & Nephew
- CONMED Corporation
- Smiths Medical
- Teleflex Incorporated
- Boston Scientific Corporation
- McKesson Medical-Surgical Inc.
- Harsoria Healthcare Pvt. Ltd.
- ISPG Inc.
- ILIFE MEDICAL DEVICES PRIVATE LIMITED (INDIA)
- Denex International
- BD
Intended Audience:
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Medical Device Suppliers - Research and Development Organization
- Medical Device Manufacturers
- Healthcare Organizations
- Academics and Research Institutes
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