Cannula Market Analysis, Growth Opportunities and Recent Trends by Application 2023 to 2030

Posted on 2023-04-12 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Apr 12, 2023 — /EPR Network/ —

Cannula Industry Overview

The global Cannula Market size is expected to reach USD 294.6 million by 2030 at a 7.3% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Increase in the prevalence of lifestyle diseases and an increase in awareness about minimally invasive surgeries are primary factors driving the growth of the cannula market. Other factors such as a rise in government initiatives to raise awareness about chronic diseases, new product launches, and technological advancements are also expected to boost the growth of the market during the forecast period.

The market observed a mixed impact due to the pandemic. While the dermatology segment experienced a sudden fall in sales in the first half of the pandemic due to the postponement of elective surgeries to adhere to the government-led guidelines and restrictions to curb the spread of the virus. On the other hand, the nasal cannula experienced a rise in demand due to its usage to treat patients infected with the COVID-19 virus. The dermatology segment is expected to experience a considerable amount of growth during the forecast period with things returning to normal due to the rise in patients opting for cosmetic surgeries.

Cannula Market Segmentation

Grand View Research has segmented the global cannula market based on product, type, material, size, end-use, and region:

Based on the Product Insights, the market is segmented into Cardiac, Dermatology, Nasal and Others.

The cardiac segment held the largest market share in 2021. This is attributed to the high prevalence of cardiovascular diseases. Factors such as increasing shift toward a sedentary lifestyle, consumption of processed foods, and reduced amounts of physical activities are leading to a rise in the prevalence of cardiovascular disease.
The dermatology segment is expected to administer significant growth during the forecast period. This is due to the increasing use of microcannula to avoid complications during and after procedures.

Based on the Type Insights, the market is segmented into Neonatal cannulae, Straight cannulae, Winged cannulae, Wing with port and Winged with stop cork.

The straight cannulae segment dominated the market with the highest market share in 2021. This is due to its design which makes it simpler to use. The product’s extra-sharp needle makes it easier to insert as well.
Neonatal cannulae are expected to register maximum growth with the highest CAGR during the forecast period. The primary factor contributing to the growth of this segment is the increase in the prevalence of respiratory problems among neonates.

Based on the Material Insights, the market is segmented into Plastic, Metal and Silicone.

The plastic segment held the highest market share in 2021 due to its increased adoption rate in both in-patient and out-patient procedures. Most plastic cannulas are translucent and allow surgeons to visualize instrumentation & sutures passing through the cannula in shoulder arthroscopy.
The silicone segment is anticipated to experience maximum growth during the forecast period. This is attributed to the increasing usage of silicone cannulas in oxygen therapies, to ensure the continuous supply of oxygen to patients during surgery and for people suffering from respiratory disorders.

Based on the Size Insights, the market is segmented into 14G, 16G, 18G, 20G, 22G, 24G and 26G.

The 18G size accounted for the highest market share in 2021 and this trend is expected to continue throughout the forecast period. This is because the 18G size cannula is most widely used in hospitals for adults as well as adolescents.
The 22G size cannulas are expected to experience the highest growth growing at a significant CAGR during the forecast period. This can be attributed to its small gauge size which allows a faster flow of fluid in patients with complicated veins.

Based on the End-Use Insights, the market is segmented into Hospital, Ambulatory Surgical Centers and Others.

The others segment includes blood banks, research centers, and pathology labs. The hospitals segment held the maximum market share in 2021.
Ambulatory surgical centers are projected to witness the fastest growth throughout the forecast period. Ambulatory surgical centers are modern healthcare facilities that offer same-day surgical care, along with preventive and diagnosis procedures.

Cannula Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies Profile

Key manufacturers in the market are focusing on launching new products in the market that will enable them to have a strong portfolio which will strengthen their position in the market.

Some prominent players in the global Cannula market include

Medtronic
Becton Dickinson (BD)
Edward Lifesciences
LivaNova
Smiths Medical
Boston Scientific Corporation

Order a free sample PDF of the Cannula Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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