Global Cannula Market Size to Reach USD 334.7 Million in 2032 | Emergen Research
Increase in prevalence of chronic diseases is a major factor driving the market revenue growth
Vancouver, Aug. 23, 2023 (GLOBE NEWSWIRE) -- The global cannula market, valued at USD 167.8 Million in 2022, is projected to exhibit a revenue Compound Annual Growth Rate (CAGR) of 7.1% throughout the forecast period, as per the latest analysis conducted by Emergen Research. The market's upward trajectory is primarily propelled by the escalating prevalence of surgical procedures. Notably, the Aesthetic Society's data indicates a substantial surge in attractive body-related surgeries such as liposuction, buttock augmentation, and abdominoplasty, marking a notable 63% increase since 2020. Plastic surgeons, on average, performed 320 surgical procedures in 2021, marking a significant rise from the 220 procedures conducted in 2020. This surge has translated to a substantial expenditure of over USD 14.6 billion on cosmetic surgery by Americans in 2021, driving a 63% increase in surgical revenue. Worth mentioning, approximately 94% of these procedures were conducted on female patients.
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The growth of market revenue is anticipated to be impeded by the scarcity of qualified healthcare professionals. This underscores the importance of comprehensive training initiatives and accessible resources to equip healthcare practitioners with the requisite skills for proficiently employing cannulas. The scarcity of adequately trained medical personnel can potentially lead to procedural delays, particularly in cases necessitating cannula deployment for executing minimally invasive surgeries.
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*Scope of Research *
*Report Details* *Outcome*
Market size in 2022 USD 167.8 Million
CAGR (2023–2032) 7.1%
Revenue forecast to 2032 USD 334.7 Million
Base year for estimation 2022
Historical data 2019–2021
Forecast period 2023–2032
Quantitative units Revenue in USD Million and CAGR in % from 2023 to 2032
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Product, type, material, size, application, end-use, and region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Country scope U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA
Key companies profiled Medtronic plc, Becton, Dickinson and Company, Edwards Lifesciences Corporation, LivaNova PLC, ICU Medical, Inc., Boston Scientific Corporation, CONMED Corporation, Terumo Corporation, Teleflex Incorporated, and Guangdong Baihe Medical Technology Co., Ltd.
Customization scope 10 hours of free customization and expert consultation
*Major Companies and Competitive Landscape *
The global cannula market is fragmented, with several medium and large-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing new cannula devices. Some major players included in the global cannula market report are:
· Medtronic plc
· Becton, Dickinson and Company
· Edwards Lifesciences Corporation
· LivaNova PLC
· ICU Medical, Inc.
· Boston Scientific Corporation
· CONMED Corporation
· Terumo Corporation
· Teleflex Incorporated
· Guangdong Baihe Medical Technology Co., Ltd.
*Strategic Development*
· In September 2021, PDO Max introduced a novel numbing cannula that is specifically designed to pre-tunnel and numb the treatment sites with lidocaine before introducing the PDO threads. The cannula is ideal for popular jaw, brow, and cheek surgeries that reposition the skin with barbed sutures.
· In February 2021, Masimo announced the launch of softFlow in the United States, a new pulmonary care therapy that delivers nasal high-flow warmed and humidified respiratory gases to spontaneously breathing patients. The technology, which is offered on softFlow 50, provides high-flow respiratory assistance to adult patients via a soft nasal cannula by delivering a steady high flow of warm, humidified air or an air/oxygen mixture.
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*Some Key Highlights From the Report*
· The cardiac segment accounted for a significantly large revenue share in the global cannula market in 2022. Increasing incidence of cardiovascular disorders, obesity, and diabetes is driving revenue growth of the cardiac segment. One-third of the global population aged 15 and up engage in insufficient physical activity, which has a negative impact on health. Sedentary lifestyles are becoming more prevalent across the globe as a result of a shortage of appropriate exercise areas, greater occupational sedentary behaviors such as office work, and growing penetration of television and video devices. Furthermore, it lowers cardiac output and systemic blood flow while activating the sympathetic nervous system, resulting in decreased insulin sensitivity and vascular function.
· The general surgery segment accounted for largest revenue share in 2022. According to the Centers for Disease Control and Prevention (CDC), approximately 600,000 hysterectomies are performed in the United States each year. Around one-third of all women will have had a hysterectomy by the age of 60. Cannulas are commonly used for Intravenous (IV) access in general surgery. In some surgeries, wound drainage cannulas are used to remove excess fluid from surgical site to promote healing and prevent complications such as seromas or hematomas.
· The cannula market in North America is expected to account for largest revenue share over the forecast period. Increasing prevalence of chronic disorders, increase in number of surgeries, and rising demand for minimally invasive surgeries. Moreover, technological advancements in cannula devices in this region are further driving revenue growth of the market over the forecasted period.
· In January 2023, Inspira Technologies OXY B.H.N. Ltd., a pioneering respiratory support technology firm, announced that the novel convertible dual lumen cannula device and method of use being developed for the INSPIRA ART System has been granted a patent by the United States Patent and Trademark Office (USPTO). The patent approval covers 20 claims that were determined to be innovative, having inventive steps and industrial applicability.
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*Emergen Research has segmented the global cannula market on the basis of product, type, material, size, application, end-use, and region**:*
· *Product Outlook (Revenue, USD Million; 2019-2032)*
· · Cardiac
· · Arterial
· Venous
· Cardioplegia
· Femmoral
· Dermatology
· Nasal
· Arthroscopy
· Others
· *Type Outlook (Revenue, USD Million; 2019-2032)*
· · Neonatal
· Straight
· Winged
· Others
· *Material Outlook (Revenue, USD Million; 2019-2032)*
· · Silicone
· Plastic
· Metal
· *Size Outlook (Revenue, USD Million; 2019-2032)*
· · 14G
· 16G
· 18G
· 20G
· 22G
· 24G
· 26G
· *Application Outlook (Revenue, USD Million; 2019-2032)*
· · Cardiovascular
· Oxygen Therapy
· Orthopedic
· Neurology
· General Surgery
· Cosmetic/Plastic Surgery
· Others
· *End-Use Outlook (Revenue, USD Million; 2019-2032)*
· · Hospitals
· Ambulatory Surgical Centers
· Others
· *Regional Outlook (Revenue, USD Million; 2019–2032)*
· North America
1. U.S.
2. Canada
3. Mexico
· Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
· Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
· Latin America
1. Brazil
2. Rest of LATAM
· Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of MEA
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