The size of the global cannula market is forecasted to value USD 241.22 million by 2026 and USD 181.62 million in 2021, growing at a CAGR of 5.84% during the forecast period.
The cannula is a tube inserted into the body for fluid injection, removal of fluid, and data collection. A cannula can cover the inner and outer layers of a trocar needle, thus increasing the needle's effective length by about half the original length of the needle.
In veterinary applications, it is used to relieve cattle from bloating and pressure in the abdomen, which is most commonly caused by the accidental consumption of legumes. They are also used in the insertion of VeriChip. In aesthetic medicine, it finds its application in the form of the blunt-tip cannula, a small tube with an edge used for subdermal injection of gels or fluids. It is also used in liposuction procedures for injecting cosmetic wrinkle filters like collagen and hyaluronic acid. A push-pull cannula, which can both inject and withdraw fluid, is used to study the effects of different chemicals on a cell.
MARKET DRIVERS:
Advancements in healthcare facilities, a rising number of surgeries, many patients, growing investment in research and development, rising investments by the government, and the growing number of minimally invasive procedures are majorly expected to drive the global cannula market growth.
A few of the significant factors driving the demand for medical cannulas are reduced procedural time with use and faster patient recovery times. The global cannula market is expected to experience lucrative growth during the forecast period, as public and private R&D funding increases, the number of patients undergoing surgical procedures improved, the development of healthcare infrastructures across the world, the introduction of new technologies developed by market partners such as single-use cannulas for surgical use, introduction of cannula PROTEK Duo and the newer injection molding technology developed for the manufacture of plastic medical needles.
Cardiac cannula accounts for most of the cannula market mainly due to the high prevalence rate of cardiovascular disease and the large number of hospitalizations associated with heart disease. According to the World Health Organization (WHO), cardiovascular disease causes the highest number of deaths globally, accounting for an estimated 19 million deaths in 2018. Additionally, the Heart Foundation, Australia states that cardiovascular disease is one of the main reasons for hospitalizations and resulted in 523,855 hospitalizations between 2017 and 2018 and played a role in another 800,000 hospitalizations in Australia. Therefore, the high prevalence of cardiovascular disease, along with excessive hospitalizations and associated morbidity and mortality rates, is driving increased demand for cardiac cannulas for intravenous drug delivery.
MARKET RESTRAINTS:
However, strict government regulations and a lack of trained or trained physicians followed by cannulation errors may hamper the market's growth during the forecast period.
MARKET OPPORTUNITIES:
An increase in the number of illnesses due to a sedentary lifestyle is expected to impact product sales positively. In addition, the increasing demand for minimally invasive surgery (MIS) is expected to drive the demand for cannulas during the forecast period. Advanced cannulas with improved functionality allow shorter procedure time and faster patient recovery. The increasing availability of these devices is also likely to fuel the market.
Other factors that benefit the growth of the market include the increase in the number of patients undergoing surgical procedures, the advancement of healthcare infrastructure, the increasing number of surgeries among the elderly, and the increasing prevalence of diseases related to lifestyles such as obesity and diabetes, and the factors are expected to provide increased opportunities in upcoming years.
MARKET CHALLENGES:
The uncertain regulatory framework is slowing the growth of the cannula market. As a result, strong competition is expected to challenge the cannula market during the forecast period.
Impact of COVID-19 on the global cannula market:
The novel coronavirus (COVID-19) pandemic caused by the reagent SARS-CoV-2 affecting millions of people and affecting the healthcare industry. The global cannula market faced difficulties in the first half of 2020. Lockdown restrictions and a ban on flights have created a slight decline in the market's growth rate. However, due to the unlock guidelines released by governments worldwide, the cannula market has started seeing some acceleration. It is expected to be back on its growth track by the end of 2021.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2020 to 2026 |
|
Base Year |
2020 |
|
Forecast Period |
2021 to 2026 |
|
Segments Analysed |
By Product, Application, Material, End User, and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Analysed |
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa |
This research report on the global cannula market has been segmented and sub-segmented based on the product, application, material, end-user, and region.
Cannula Market - By Product:
The dermatology cannulas segment is expected to be the fastest-growing segment during the forecast period based on the product. The increased usage of microcannulas to prevent pre-and post-surgery hurdles and the growing preference for minimally invasive surgeries are expected to grow to this segment.
The cardiac cannulas product segment is forecasted to substantially share in the global cannula market during the forecast period. Y-O-Y growth in the incidence of cardiac diseases is majorly accelerating the segment’s growth. As per the WHO, nearly 17.5 million deaths took place in 2012 due to cardiovascular diseases.
The nasal cannula segment is expected to be one of the most lucrative segments. The nasal cannulas are small and durable-like structures supplying necessary oxygen to the patient through the device.
Cannula Market - By Application:
Based on the application, Plastic surgery has the highest growth rate in the segment. The growing health awareness in people, rising obese population, and increasing number of cosmetic/plastic surgeries are driving the growth of this segment.
Cannula Market - By Material:
Based on the material, the plastic segment is expected to hold a major share in the global market during the forecast period. The wide use of plastic in general surgeries for both in and outpatient procedures upsurge the segment growth.
The silicone segment is estimated to be the fastest-growing segment in the cannula market globally. The silicone cannulas are soft and durable, and many medical professionals prefer them as an option. The mentioned above factors aid in market development.
Cannula Market - By End Users:
Based on the end-users, the hospital's segment is expected to dominate the global cannula market during the forecast period due to the increasing patient population and greater awareness levels among all healthcare assistants. In addition, the accumulating hospitalization rates mount the end-users segment growth.
Cannula Market - By Region:
Geographically, North America accounted for the leading share in the global cannula market in 2019 and forecasted that the same trend would be continuing during the forecast period, followed by Europe and the Asia Pacific regions. The U.S is expected to top the North American cannula market during the forecast period. The ever-increasing patient population and improved healthcare eco-system represent the country's market growth. As per CDC, around 9 million adults are examined with chronic bronchitis in the U.S., and about 3.5 million adults are diagnosed with emphysema in 2017. The Canadian cannula market is to have the quickest growth rate in the region, with growing discretionary expenses and rising disposable revenue.
The European cannula market is forecasted to be the second-largest cannula market globally during the forecast period. The growing government support from the European countries and investments for medical research strengthen the market growth. In Europe, the German cannula market is estimated to grow at the fastest CAGR during the forecast period. The increased employment in oxygen therapies for the regular supply of oxygen to the patients and senior citizens suffering from respiratory disorders nourishes market demand. Around 15.9 million minimal invasive and surgical cosmetic procedures were implemented in 2020, in Germany, as per Annual Statistics of Plastic Surgery Procedures.
Asia Pacific region is expected to have the fastest growth rate during the forecast period.
KEY MARKET PARTICIPANTS:
The most promising companies leading the global cannula market profiled in this report are Medtronic plc (U.S.), Edward Lifesciences Corp. (U.S.), Terumo Corporation (Japan), Sorin Group (Italy), and Maquet Holding B.V. & Co. KG (Germany).
Most companies adopt various strategies, such as mergers, acquisitions, collaborations, and new product launches, to maintain their market share and strengthen their position. In addition, some leading suppliers are investing in research and development (R&D) projects to introduce advanced products.
RECENT MARKET DEVELOPMENTS:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Application
5.1.1 Oxygen Therapy
5.1.2 General Surgery
5.1.3 Cardiovascular Surgery
5.1.4 Plastic Surgery
5.1.5 Orthopaedic Surgery
5.1.6 Other Applications
5.1.7 Y-o-Y Growth Analysis, By Application
5.1.8 Market Attractiveness Analysis, By Application
5.1.9 Market Share Analysis, By Application
5.2 Product
5.2.1 Vascular Cannulas
5.2.2 Cardiac Cannulas
5.2.3 Arthoscopy Cannulas
5.2.4 Nasal Cannulas
5.2.5 Dermatology Cannulas
5.2.6 Other Products
5.2.7 Y-o-Y Growth Analysis, By Product
5.2.8 Market Attractiveness Analysis, By Product
5.2.9 Market Share Analysis, By Product
5.3 Material
5.3.1 Metal
5.3.2 Silicone
5.3.3 Plastic
5.3.4 Y-o-Y Growth Analysis, By Material
5.3.5 Market Attractiveness Analysis, By Material
5.3.6 Market Share Analysis, By Material
5.4 End Users
5.4.1 Hospitals
5.4.2 Ambulatory Surgical Centres
5.4.3 Other End Users
5.4.4 Y-o-Y Growth Analysis, By End Users
5.4.5 Market Attractiveness Analysis, By End Users
5.4.6 Market Share Analysis, By End Users
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Application
6.1.3.2 By Product
6.1.3.3 By Material
6.1.3.4 By End Users
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Application
6.1.4.2 By Product
6.1.4.3 By Material
6.1.4.4 By End Users
6.1.5 Market Share Analysis
6.1.5.1 By Application
6.1.5.2 By Product
6.1.5.3 By Material
6.1.5.4 By End Users
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Medtronic plc
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Edward Lifesciences Corp.
8.3 Terumo Corporation
8.4 Sorin Group
8.5 Maquet Holding B.V. & Co. KG
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
Related Reports
Apr 2021
Apr 2021
Apr 2021
