Market Overview:
According to the recent report by IMARC Group, titled “Cannula Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global cannula market grew at a CAGR of about 6% during 2014-2019. A cannula can be defined as a hollow, flexible tube with a sharp, retractable inner core that can be inserted into a vein, body cavity or artery. It is used to remove fluids or gather samples from the body or deliver fluids to the body. There are different kinds of cannulas available for a range of procedures in different sizes. Cannulas are now also being used over hypodermic needles for injecting fillers due to their associated benefits like greater flexibility, less risk of bruising or bleeding, and reduced pain. As a result, they find applications in blood banks, hospitals, pathology labs, and ambulatory surgery centers (ASCs).
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Cannula Market Trends:
One of the major factors impelling the market growth is the continuing spread of the coronavirus disease (COVID-19). The pandemic has led to a spike in the hospitalization of the affected patients, which, in turn, has stimulated the demand for cannulas. Apart from this, the rising cases of cardiovascular diseases over the past decade and the increasing inclination toward minimally invasive surgeries (MIS) are also contributing to the market growth. Furthermore, several manufacturers are introducing advanced cannulas, which is creating a positive outlook for the market. For instance, Uni-flo2 Single Nasal Cannula by UPODS, LLC and 3B Medical’s Freedom X oxygen cannula are designed to offer maximum comfort to the patients while receiving oxygen. Similarly, Medtronic has launched Kyphon Cannula in 2020 for balloon kyphoplasty surgeries in the United States. Some of the other factors bolstering the market growth are the rising popularity of cosmetic surgeries, increasing advancements in medical sciences, and favorable government policies for offering primary healthcare services. On account of these factors, the market is expected to experience strong growth during the forecast period (2020-2025).
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Market Summary:
Based on the product, the market has been categorized into cardiac, vascular, nasal, dermatology, arthroscopy, and other cannulas.
On the basis of the type, the market has been divided into neonatal cannulas, winged cannulas, straight cannulas, wing with port cannulas, and others.
Based on the size, the market has been segmented into 14G, 16G, 18G, 20G, 22G, 24G, and 26G.
On the basis of the material, the market has been classified into plastic (PVC) cannulas, silicone cannulas, and metal cannulas (stainless steel).
Based on the application, the market has been segregated into oxygen therapy, cardiovascular surgery, general surgery, orthopedic surgery, cosmetic/plastic surgery, and others.
On the basis of the end user, the market has been categorized into hospitals, ambulatory surgery centers (ASCs), and others.
Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
The competitive landscape of the market has been analyzed in the report, with some of the key players being Boston Scientific Corporation, CONMED Corporation, Smiths Medical Inc., LivaNova Plc, Teleflex Incorporated, Terumo Corporation, Edwards Lifesciences, Medtronic Plc, and Smith & Nephew PLC.
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