Advancements in Healthcare Facilities Triggering the Industry Growth; Claims the Cannula Market Insights

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Cannula Market size is expected to reach USD 286.4 billion by 2030 at CAGR 6.7% during the forecast period 2022-2030

Cannula Market Highlights:

Cannula Market insights report expects the industry size to reach USD 286.4 billion by 2030 at CAGR 6.7% during the forecast period 2022-2030, says market research future (MRFR).

Cannula is a thin tube entered into a vein or body cavity in order to administer medication or to drain off fluid or to insert some surgical instrument.

Rising number of surgeries, advancements in healthcare facilities and large pool of geriatric population are expected to drive the market growth over the forecast period. However, uncertain government regulations regarding medical devices can restrain the market growth over the assessment period.

Regional Analysis:

Geographically, the Americas is expected to dominate the global market owing to the easy availability of advanced healthcare infrastructure and rising awareness about minimally invasive surgeries. Europe is expected to hold the second largest position in the global market owing to the rising number of cardiovascular surgeries. Asia-Pacific is expected to be the fastest growing market owing to the presence of a large patient pool and increasing geriatric population requiring surgeries. Moreover, the Middle East and Africa region is expected to account for the least market share in the global market.

Segmentation:

The global 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 global market, on the basis of material, has been segmented into plastic (PVC), silicone and metal (stainless steel). The plastic (PVC) cannula is expected to hold the largest market share owing to its extensive use in general surgeries. The silicone cannula is expected to grow at the fastest CAGR owing to its increasing usage in oxygen therapies and their flexible & soft nature.

The global cannula market, by application, has been segmented into cardiovascular surgery, oxygen therapy, general surgery, cosmetic/plastic surgery, orthopedic surgery and others. The global market, on the basis of end users, has been segmented into hospitals, ambulatory surgical centers and others.

Key Players:

Some of the prominent key players highlighted in the cannula market outlook report are 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.

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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