Global Cannula Market Projected to Show Strong Growth by 2026
Posted: Aug 25, 2019
Global cannula market is estimated to grow to USD 222.09 million by 2026 growing at a substantial CAGR during the forecast period of 2019 to 2026. The rise in market value can be factored to the growing preference of minimally invasive surgical procedures from the patients.
Cannula is a flexible hollow tube which is sharp and has a retractable inner core implanted into an artery or a vein, or other body cavity, allowing to draw the fluid or to provide medication intravenously. It is basically used for procedures like infusing medication or obtaining blood samples. The maximum usage of cannula is done in the case of cardiovascular diseases. With the advancement of technology, cannulas are being used by health care professionals as well for surgical use.
Key Market Competitors: Global Cannula Market
Companies dealing with the usage or manufacturing of this product in the global cannula market are Medtronic, Edward Lifescience Corporation, La-med Healthcare Pvt. Ltd., Terumo Corporation, GENERAL ELECTRIC COMPANY, Boston Scientific Corporation, DePuy Synthes, Denex International, LivaNova PLC, Smith & Nephew, MRK Healthcare Pvt. Ltd., BVI, Harsoria Healthcare Private Limited, CONMED Corporation, Smiths Medical, Inc., Teleflex Incorporated, ILIFE MEDICAL DEVICES PRIVATE LIMITED and Global Medikit Limited among others.
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Market Segmentation: Global Cannula Market
- By Product (Vascular Cannula, Cardiac Cannula, Arthroscopy Cannula, Dermatology Cannula, Nasal Cannula, Others),
- By Type (Neonatal, Straight, Winged, Wing with Port, Winged with Stop Cork),
- By Material (Plastic Cannulas, Silicone Cannulas, Metal Cannulas),
- By End-Users (Hospitals, Cardiac Centers, Ambulatory Surgical Centers, Others),
- By Application (Oxygen Therapy, Cardiovascular Surgery, General Surgery, Orthopedic Surgery, Cosmetic/Plastic Surgery, Diabetes Treatment, Neurology, Others),
- By Size (14G, 16G, 18G, 20G, 22G, 24G, 26G),
- By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa)
- An increase in obesity rate increasing the prevalence of various chronic diseases, majorly diabetes requiring insulin injections is expected to drive the growth of the market
- Enhancing cases of surgeries among the geriatric population improves the market growth
- Rise in the levels of expenditure incurred by the government and private sources on research & development to further the advancements and innovations in the market
- Inadequate skill and knowledge from the healthcare professionals resulting in complications in cannula insertion; this factor is expected to restrain the growth of the market
- Market is suffering because in comparison to oral or injectable methods of treatment, IV therapy is costlier which is the major application of cannulas
- Most of the times the circulatory system is overloaded with excessive intravenous fluid and this hinders the growth of cannula in global market
Reasons to Purchase this Report
- Current and future of global cannula market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
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Data Bridge Market Research
Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches.