Cannula Market Size, Share, Global Industry Trends Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Cannula Market


The global Cannula market size is projected to reach US$ 215.5 million by 2026, from US$ 139.63 million in 2020, at a CAGR of 7.5% during 2021-2026. Surge in awareness about minimally invasive surgeries, increasing infant mortality rate, improving healthcare infrastructure in emerging economies, and rising number of hospitals and clinics are anticipated to drive the global market.

Growing consumer awareness and supportive initiatives being undertaken by governments around the world to provide primary healthcare services at affordable rates are also anticipated to propel the market. In addition, rise in number of medical ailments arising due to sedentary lifestyle is anticipated to have a positive impact on product sales.

Increasing demand for minimally invasive surgery (MIS) is expected to boost demand for cannulas over the forecast period. Advanced cannulas with improved features enable shorter procedure duration and faster patient recovery. Growing availability of such devices is also likely to fuel the market.

Other factors that will benefit market growth include increasing pool of patients undergoing surgical procedures, advancement in healthcare infrastructure, increasing number of surgeries in elderly population, and growing prevalence of lifestyle related diseases such as obesity and diabetes.

Market Segmentation, Outlook & Viewpoint: Global Cannula Market

Product Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

Cardiac

  
Arterial
  
Venous
  
Cardioplegia
  
Femoral

Dermatology

Nasal

Others

Type Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

  
Neonatal
  
Straight
  
Winged
  
Wing with port
  
Winged with stop cork

Material Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

  
Plastic
  
Metal
  
Silicone

Size Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

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

End-use Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

  
Hospital
  
Ambulatory Surgical Centers
  
Others

Key Players, Recent Developments & Regional Insights: Global Cannula Market

On the basis of product, the market can be segmented into cardiac (arterial, venous, cardioplegia, and femoral), dermatology, nasal, and others. The cardiac segment held a lucrative market share in terms of revenue in 2017. This may be attributed to high prevalence rate of cardiovascular diseases.

The dermatology segment is anticipated to gain significant market share over the forecast period, exhibiting the fastest CAGR through 2026. The segment held over 20.0% of the total market in 2017. This growth can be attributed to increasing use of microcannula in order to avoid complications during and after procedures. Additionally, rise in cosmetic surgery is likely to boost this segment. In U.S., nearly 15.7 million cosmetic minimally invasive surgeries were performed in 2017 alone. This increasing penetration of MIS will benefit segment growth over the forecast period.

Type Insights

Based on type, the market is segmented into neonatal, straight, winged, wing with port, and winged with stop cork. Straight cannulas held a lucrative market share in 2017. This can be attributed to its simple and straight design. Its extra sharp needle makes it easier to insert.

Neonatal cannulas are anticipated to grow at a steady pace over the forecast period due to increasing prevalence of respiratory problems among newborns. Its soft and flexible nature makes it suitable for neonatal use in high flow oxygen therapy.

Material Insights

On the basis of material, the market is segmented into plastic, metal, and silicone. The plastic segment held the dominant share of over 50.0% in 2017. Its extensive usage in general surgeries, in both in-patient and out-patient procedures, is the key factor driving this segment.

The silicone segment is expected to grow at the fastest rate in the global cannula market. This is due to their high usage rate in oxygen therapies, to ensure continuous supply of oxygen to patients during surgery and people suffering from respiratory disorders. In addition, silicon cannulas are flexible and soft, making them a preferred choice for application among doctors as well as patients.

Size Insights

The market is fragmented based on gauge size into 14G, 16G, 18G, 20G, 22G, 24G, and 26G. Different sized cannulas are represented by specific colors. For instance, orange and green represent the sizes 14G and 18G, respectively. The 18G sized segment accounted for the largest market share in 2017. This is the most commonly used product in hospitals for adults and adolescents.

The 22G sized segment is anticipated to witness the fastest growth throughout the forecast period, owing to its small gauge size, which allows faster flow of fluid in children and in patients with complicated veins.

End-use Insights

Cannulas are used in hospitals, ambulatory surgical centers (ASC), blood banks, laboratories, pathology labs, and other healthcare settings. The hospital segment held the dominant share of 53.5% in 2017. This market share is attributed to increase in hospitalization rate. In hospitals, cannulas are used in general surgery, orthopedic surgery, cardiovascular surgery, dermatology, neurology, gynecology, oxygen therapy, and many more.

Ambulatory surgical centers are expected to gain significant market share over the forecast period, which can be attributed to increasing demand for modern healthcare facilities that do not require overnight stay.

Regional Insights

North America led the global market in 2017 and is anticipated to witness the same trend over the forecast period. This can be attributed to availability advanced healthcare infrastructure and greater awareness about minimally invasive surgeries among patients and physicians.

Asia Pacific is anticipated to witness the fastest growth over the forecast period. This is owing to presence of a massive patient pool, coupled with high proportion of geriatrics suffering from chronic diseases such as diabetes and cardiovascular diseases. Moreover, favorable government policies to transform healthcare practices in respective countries, particularly in rural belts, will boost the Asia Pacific market.

Cannula Market Share Insights

Some of the key companies operating in this industry are Medtronic, Becton Dickinson (BD), Edward Lifesciences, LivaNova, Smiths Medical, and Boston Scientific Corporation. Various strategies such as mergers, acquisitions, collaborations, and new product launch are being adopted by these players to maintain their market share and gain a stronger foothold.

In February 2018, LivaNova introduced a new line of arterial cannula called PureFlex- curved and straight tip. Designed to meet varied clinical needs, it is available in a variety of configurations, including a new tip design that allows for easy insertion.

Key Insights Covered: Global Cannula Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Cannula industry.
2. Global major manufacturers" operating situation (sales, revenue, growth rate and gross margin) of Cannula industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Cannula industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Cannula industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Cannula industry.

Research Methodology: Global Cannula Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other