ID: MRFR/MED/5472-HCR | February 2021 | Region: Global | 90 pages
Cannula Market is expected to grow at a CAGR 6.7% during the forecast period, says market research future (MRFR). A cannula is a small hollow tube with a sharpened and retractable inner core that is placed into a vein, artery, or bodily cavity for the purpose of administering medication and drawing fluids out. Numerous cannulae are offered for a variety of treatments. For example, an intravenous cannula is utilized to establish cardiopulmonary bypass during cardiac surgery. Similarly, by putting the plastic tubing behind the nose, a nasal cannula is used to provide oxygen. Additionally, it is frequently used for filler injections since it produces less pain, minimizes the risk of bleeding and bruising, and offers better flexibility than hypodermic needles. Due to its multiple characteristics, it is widely used in hospitals, ambulatory surgery centers (ASCs), blood banks, laboratories, and pathology laboratories throughout the world. The primary factors driving this market are the increasing number of surgeries, advancements in healthcare facilities, higher investment in research and development, a huge patient pool, and increased government financing. Additionally, the growing use of minimally invasive surgery (MIS) treatments is a major driver of this industry.
However, the unpredictable regulatory environment in the medical device business is impeding this market's growth.
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, cosmetic/plastic 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.
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
Global Cannula Market Share (%), by Region, 2017
Source: Centers for Disease Control and Prevention (CDC), Eurostat, White Papers, Company Presentations, Annual Reports
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 cannula 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.
March 2022: The United States Food and Drug Administration (FDA) approved Terumo Blood and Cell Technologies' (Terumo BCT) innovative plasma collection system. Terumo BCT is a medical technology firm and the market leader in cannula. Rika is a next-generation automated system that is focused on the plasma center employee and donor experience. It has safety elements that help prevent operator error and gathers plasma in less than 35 minutes. Rika was created in response to the industry's demand for technology progress and process optimization in order to increase efficiency and quality while ensuring donor safety and an adequate plasma supply. Given Terumo Blood and Cell Technologies' experience and leadership in apheresis technology, investing in the source plasma business makes sense. The corporation invests three times as much in development as the industry average as an innovation partner to clients worldwide.
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