Cannula Market - Accounts for the Highest Revenue by 2020

Cannula is a hollow tube with a retractable, sharp inner core inserted into an artery or a vein, or another body cavity to draw off fluid or to introduce medication intravenously. Increasing number of surgeries and minimally invasive procedures coupled with rising patient pool and improving health care infrastructure and conditions in emerging economies are some of the major reasons driving the cannula market. Cannula market is segmented depending upon the types of cannula for diverse applications, sizes of the cannula and the material used for its manufacture. According to the types of cannula, the market has been segmented into six major segments which include:

1. Cardiac cannula
2. Vascular cannula
3. Arthroscopy cannula
4. Dermatology cannula
5. Nasal cannula
6. Others

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Cardiac cannula accounts for the major share in the cannula market majorly due to high prevalence rate of cardiovascular diseases and large number of hospital admissions associated with cardiac conditions. According to the World Health Organization (WHO), cardiovascular diseases lead to maximum number of deaths globally accounting for approximately 17.5 million deaths in 2012, representing 31% of the deaths. Moreover, Heart Foundation, Australia stated that cardiovascular diseases is one of the major reasons for hospitalizations and resulted in 523,805 hospitalizations between 2011 - 2012 and played a secondary role in other 800,000 hospitalizations in Australia. High prevalence of cardiovascular diseases coupled with excessive hospitalizations and associated morbidity and mortality rate is leading to increased demand for cardiac cannula in intravenous drug delivery.

Asia Pacific is also exhibiting remarkable growth in its market share owing to the rising prevalence of various chronic diseases in this region. Analysts expect this regional market to witness a steady rise over the forecast period on account of the increasing pool of patients needing surgical procedures.

Edward Lifesciences Corp., Sorin Group, Medtronic Plc, Conmed Corp., Smith & Nephew, Teleflex Inc., MAQUET Holding B.V. & Co. KG, Boston Scientific Corp., and Terumo Corp. are the leading manufacturers of cannulae in the global market, states the research report.

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