New York, NY, July 19, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Cannula Market by Product (Cardiac, Vascular, Dermatology, and Nasal), By Application (Cardiovascular Surgery, Oxygen Therapy, General Surgery, Cosmetic/Plastic Surgery, and Orthopedic Surgery), By Material (Plastic, Metal, and Silicon), by Size (14G, 16G, 18G, 20G, 22G, 24G, and 26G), and by End-Use (Hospitals, Ambulatory Surgical Centers, Blood Banks, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global cannula market was approximately USD 275 million in 2018 and is expected to generate around USD 433 million by 2025, at a CAGR of around 6.68% between 2019 and 2025.
Cannulas are hollow tubes with a retractable, shrill inner core, which are inserted into the body (veins, arteries, or any other body cavities) either for fluid delivery/ removal or for blood collection. These tubes are also used to surround the inner or outer shell of a three-sided cutting point needle, which helps in extending the needle length by minimum half the length of the original needle. The global cannula market is growing rapidly due to the increasing demand for minimally invasive surgery (MIS), rising infant mortality rate, a growing number of hospitals and clinics, and ongoing improvements in healthcare infrastructure in developing economies.
Browse through 88 Tables & 44 Figures spread over 110 Pages and in-depth TOC on “Global Cannula Market Size & Growth 2018 Analysis: By Type, Applications, Industry Share, Trends and Forecast to 2025”.
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Favorable government initiatives to provide vital healthcare services at reasonable rates and rising consumer awareness are also predicted to boost the cannula market growth globally. In addition, an increasing number of medical ailments arising due to inactive lifestyle is positively contributing to product sales. However, the lack of skilled or trained physicians, inadequate cannula stabilization, and high surgery costs may limit the market.
The global cannula market is fragmented based on the product, application, material, size, and end-use. The product segment of the market is divided into dermatology, cardiac, nasal, and vascular. Cardiac held the major market share in 2018, whereas dermatology is expected to show the highest CAGR in the upcoming years. By material, the cannula market is categorized into plastic, metal, and silicon. Plastic held a substantial market share in 2018. On the basis of application, the cannula market includes orthopedic surgery, oxygen therapy, cardiovascular surgery, general surgery, and cosmetic/plastic surgery.
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Cosmetic/plastic surgery held the major market share in 2018, due to increasing health consciousness and a growing number of obesity cases, leading to a rising number of cosmetic surgeries. Based on the size, the market is classified into 14G, 16G, 18G, 20G, 22G, 24G, and 26G. Different colors represent different sized cannulas. The 18G segment held the notable market share in 2018. Based on end-use, the cannula market comprises hospitals, blood banks, ambulatory surgical centers, and others. Hospitals held a substantial cannula market share in 2018.
North America is an established cannula market that contributes to major revenue share globally. It dominated the global cardiac cannulas market, owing to the prominent awareness about minimally invasive surgeries and a large number of cardiac surgeries performed across the region. The prevalence of cardiac diseases, changing lifestyles, rising smoking rates, technological advancements, the availability of skilled labor to perform critical cardiac surgeries, top-class healthcare infrastructure, and increasing R&D investments by major players are driving the cardiac cannula market. The U.S. is a major country for the North American cannula market.
Browse the full “Cannula Market by Product (Cardiac, Vascular, Dermatology, and Nasal), By Application (Cardiovascular Surgery, Oxygen Therapy, General Surgery, Cosmetic/Plastic Surgery, and Orthopedic Surgery), By Material (Plastic, Metal, and Silicon), by Size (14G, 16G, 18G, 20G, 22G, 24G, and 26G), and by End-Use (Hospitals, Ambulatory Surgical Centers, Blood Banks, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/cannula-market
Europe held the second spot in the global cannula market in 2018, due to the presence of developed healthcare infrastructure, favorable reimbursement policies, increasing research and development investments, awareness about cannula usage among healthcare professionals. .Germany, France, and the UK are major countries in the European cannula market.
The Asia Pacific region is expected to be the fastest growing cannula market globally over the projected time period. This can be attributed to the emerging countries of India and China that have rising incidences of cardiac surgeries, technological advancements, escalating geriatric population base, increasing health awareness, and growing purchasing capacity of the middle-class population. China and Japan are dominant countries in the Asia Pacific cannula market. Additionally, India is estimated to register the highest CAGR in the future, owing to the improving healthcare system and increasing healthcare spending of the population.
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Latin America is another significant cannula market, which is expected to witness moderate growth over the estimated timeline. This can be attributed to the increasing healthcare facilities coupled with increasing awareness among people. Furthermore, the increasing number of surgeries is also expected to drive the region’s cannula market in the future. Brazil contributed the largest revenue share in 2018 and is a major market in Latin America.
In the Middle East and Africa, growing annual healthcare expenditure and rising demand for cannulas are driving the cannula market. Underdeveloped infrastructure, limited accessibility, outdated facilities, and trade restrictions are major factors attributing to the sluggish growth of the regional cannula market.
Some key players in the global cannula market are Medtronic, Terumo Corporation, Edward Lifesciences Corporation, Action Medical, Boston Scientific, Conmed Corporation, Maquet Holding, Sidapharm, Smith & Nephew, and Smiths Medical.
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This report segments the global cannula market into:
Global Cannula Market: By Product
- Cardiac
- Arterial
- Venous
- Cardioplegia
- Femoral
- Dermatology
- Nasal
Global Cannula Market: By Material
- Plastic
- Metal
- Silicon
Global Cannula Market: By Application
- Cardiovascular Surgery
- Oxygen Therapy
- General Surgery
- Cosmetic/Plastic Surgery
- Orthopedic Surgery
Global Cannula Market: By Size
- 14G
- 16G
- 18G
- 20G
- 22G
- 24G
- 26G
Global Cannula Market: By End-Use
- Hospitals
- Ambulatory Surgical Centers
- Blood Banks
- Others
Global Cannula Market: By Region
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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