According to the latest report by IMARC Group, titled “Cannula Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global cannula market size reached US$ 138.7 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 206.6 Million by 2027, exhibiting a CAGR of 7.4% during 2022-2027.
A cannula refers to a small hollow tube with a retractable and sharp inner core that is inserted into an artery, vein, or body for administering medication and drawing off fluids. It is available in several product variants, including cardiac cannulas, nasal cannulas, vascular cannulas, dermatology cannulas, arthroscopy cannulas, etc. Cannula tubes are extensively used for injecting fillers as it reduces the risk of bleeding and bruising, cause lesser pain, and provide greater flexibility as compared to hypodermic needles. Consequently, they find widespread applications across numerous segments of the healthcare sector, such as hospitals, blood banks, Ambulatory Surgery Centers (ASCs), laboratories, pathology labs, etc.
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Note: 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.
Market Trends:
The growing prevalence of chronic diseases, including cardiovascular illnesses, diabetes, obesity, etc., and the elevating number of surgical procedures being performed around the world, are primarily driving the cannula market. Additionally, the expanding geriatric population, and the escalating inclination toward minimally invasive surgeries (MIS) that ensure less surgical trauma, minimized infection risks, and smaller scars are further stimulating the market growth. Moreover, the rising popularity of cosmetic surgeries is acting as another significant growth-inducing factor. Apart from this, the increasing advancements in healthcare facilities in the emerging nations and the inflating investment undertaken by leading vendors in research and development (R&D) activities for introducing advanced products such as a bidirectional arterial cannula to reduce the risk of limb ischemia are expected to propel the cannula market over the forecasted period.
Breakup by Process Type:
- Sodium Silicate Process
- Tetraethyl Orthosilicate (Silica Sol Process)
Breakup by Material:
- Superalloys
- Steel
- Aluminum
- Titanium
- Others
Breakup by Application:
- Automotive
- Aerospace & Military
- Oil and Gas
- Energy
- Medical
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Boston Scientific Corporation
- CONMED Corporation
- Edwards Lifesciences
- Medtronic Plc
- Smith & Nephew PLC
- Smiths Medical Inc
- LivaNova Plc
- Teleflex Incorporated
- Terumo Corporation, etc
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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