With 7.1% CAGR, Cannula Market to Hit USD 219.1 Million by 2028 | IMARC Group

IMARC Group, a leading market research company, has recently releases report titled "Cannula Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" The study provides a detailed analysis of the industry, including the global cannula market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the cannula market?

The global cannula market size reached US$ 149.3 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 219.1 Million by 2028, exhibiting a growth rate (CAGR) of 7.1% during 2023-2028.

What is cannula?

A cannula is a versatile tool consisting of a flexible tube with a retractable inner core, designed to be inserted into veins, body cavities, or arteries. Its primary function is to extract fluids, obtain samples from the body, and administer fluids to the body. It comes in various types and sizes, catering to various medical procedures. For instance, the 24-gauge cannula is commonly utilized in chemotherapy and for neonates. In comparison, the 14-gauge cannula is suitable for environments involving trauma, as it can administer a liter of fluid in just two minutes. On a day-to-day basis, the 20-gauge cannula is generally employed for administering fluid antibiotics. It can be inserted through three primary methods, namely peripheral, central line, and midline. It has emerged as a preferred choice over hypodermic needles in injecting fillers. It offers numerous advantages, including enhanced flexibility, reduced risk of bruising or bleeding, and minimal discomfort for the patient. As a result, cannula finds extensive applications in diverse healthcare settings such as blood banks, hospitals, pathology labs, and ambulatory surgery centers (ASCs) across the globe.

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What are the growth prospects and trends in the cannula industry?

The global cannula market is primarily driven by the sudden outbreak of the coronavirus disease (COVID-19) pandemic and the increasing hospitalization rates. Moreover, the shifting patient preferences toward minimally invasive surgeries (MIS) as they offer numerous advantages such as smaller incisions, lower infection risks, smaller scars, lesser amount of bleeding, and reduced pain and trauma has accelerated the product adoption rate. Apart from this, numerous innovations in cannula technology by various manufacturers are positively influencing market growth. For instance, UPODS, LLC has introduced the Uni-flo2 Single Nasal Cannula, which prioritizes patient comfort during oxygen therapy, 3B Medical's Freedom X oxygen cannula offers enhanced comfort for patients receiving oxygen, and Medtronic launched the Kyphon Cannula in 2020 for balloon kyphoplasty surgeries in the United States.

Besides this, the rising popularity of cosmetic surgeries and ongoing advancements in medical sciences have augmented the demand for cannulas. Additionally, the implementation of favorable government policies aimed at providing primary healthcare services and the rising incidences of chronic diseases have catalyzed market growth. Furthermore, the emergence of several medical ailments owing to sedentary lifestyles, increased consumption of alcohol, excessive smoking, and unhealthy eating habits, coupled with improving healthcare infrastructure in emerging economies is contributing to the market growth. Other factors, including the increasing prevalence of chronic lifestyle-related diseases, the rising number of surgeries among the geriatric population, changing lifestyles of people, and surging healthcare expenditure, are also anticipated to propel the market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product:

Cardiac Cannulas
Nasal Cannulas
Vascular Cannulas
Dermatology Cannulas
Arthroscopy Cannulas
Others

Breakup by Type:

Neonatal Cannulas
Straight Cannulas
Winged Cannula
Wing with Port Cannula
Others

Breakup by Size:

14G
16G
18G
20G
22G
24G
26G

Breakup by Material:

Plastic (PVC) Cannulas
Silicone Cannulas
Metal Cannulas (Stainless Steel)

Breakup by Application:

Cardiovascular Surgery
Oxygen Therapy
General Surgery
Cosmetic/Plastic Surgery
Orthopedic Surgery
Others

Breakup by End-User:

Hospitals
Ambulatory Surgery Centers (ASCs)
Others

Breakup by Region:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

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Who are the key players operating in the industry?

The report covers the major market players including:

Boston Scientific Corporation
CONMED Corporation
Edwards Lifesciences
Medtronic Plc
Smith & Nephew PLC
Smiths Medical Inc
LivaNova Plc
Teleflex Incorporated
Terumo Corporation

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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