Cannula Industry Overview
The global cannula market was valued at USD 158.4 million in 2021 and is anticipated to register a CAGR of 7.3% during the forecast period. The increase in demand for minimally invasive surgeries, the rise in the number of surgeries among the geriatric population, and the significant increase in the prevalence of chronic lifestyle-related diseases such as diabetes and cardiovascular diseases are the primary factors that are driving the growth of the cannula market. In addition, factors such as government initiatives to provide primary healthcare services at affordable rates and increase awareness regarding chronic diseases are also anticipated to further help the market grow significantly during the forecast period.
The COVID-19 pandemic affected every aspect of human life. The economic, social, and financial aspects were affected in the majority of countries across the globe. The pandemic also led to major loss of life and disrupted the manufacturing and R&D activities. The restrictions and lockdowns led to severe disruption of the supply chain leading to a shortage of certain products. Many markets faced a drastic fall in sales due to the pandemic. On the other hand, certain markets experienced a sudden surge in sales during the pandemic.
Gather more insights about the market drivers, restraints, and growth of the Global Cannula market
The market experienced a mixed impact during the pandemic. While there was a significant surge in demand for nasal cannula for the treatment of COVID-19 patients, the dermatology segment experienced a temporary drop in sales due to the postponement of elective surgeries. However, the dermatology segment recovered during the second half of the pandemic.
With a large population being infected with the COVID-19 virus, it can be projected that there could be a rise in respiratory diseases in the future. This is because the virus poses a great threat to the respiratory system. Moreover, with the opening up of economies and the world moving towards normalcy, the market is projected to experience lucrative growth during the forecast period.
Minimally invasive surgeries are gaining popularity in the healthcare industry. There has been a rapid increase in the preference for minimally invasive surgeries for the treatment of cardiovascular diseases. This is due to the fact that minimally invasive surgeries cause less surgical trauma and result in a better aesthetic appearance. It offers advantages such as smaller incisions, minimized infection risks, smaller scars, a lesser amount of bleeding, and lesser pain & trauma. Thus, this is leading to an increased preference for minimally invasive surgeries which in turn is expected to boost the growth of the cannula market.
Browse through Grand View Research's Medical Devices Industry Research Reports.
Arterial Cannula Market - The global arterial cannula market size was valued at USD 19.2 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.2% from 2023 to 2030.
Ophthalmic Handheld Surgical Instruments Market - The global ophthalmic handheld surgical instruments market size was valued at USD 2.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 3.8% from 2022 to 2030.
Cannula Market Segmentation
Grand View Research has segmented the global cannula market based on product, type, material, size, end-use, and region:
Product Outlook (Revenue in USD Million; 2017 - 2030)
- Cardiac
- Dermatology
- Nasal
- Others
Type Outlook (Revenue in USD Million; 2017 - 2030)
- Neonatal cannulae
- Straight cannulae
- Winged cannulae
- Wing with port
- Winged with stop cork
Material Outlook (Revenue in USD Million; 2017 - 2030)
- Plastic
- Metal
- Silicone
Size Outlook (Revenue in USD Million; 2017 - 2030)
- 14G
- 16G
- 18G
- 20G
- 22G
- 24G
- 26G
End-use Outlook (Revenue in USD Million; 2017 - 2030)
- Hospital
- Ambulatory Surgical Centers
- Others
Regional Outlook (USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights
May 2020: Medtronic announced the U.S. launch of Kyphon Assist Directional Cannula for balloon kyphoplasty.
Key Companies profiled:
Some of the major players operating in the cannula market are:
- 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.
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