As per the research report, the Middle East and Africa Cannula Market size have been forecasted at USD 10.12 billion in 2022. Furthermore, it is estimated to be growing at a CAGR of 5.24% and worth USD 13.07 billion by 2027.
The increasing prevalence of chronic diseases such as diabetes, heart diseases, and eye diseases among the rising elderly population is driving the cannula market in MEA. Also, the rising minimally invasive surgeries procedures are boosting the market growth. In addition, the growing awareness about minimally invasive surgeries, increasing healthcare spending, and improving healthcare infrastructure are contributing to the market growth.
On the other hand, the increasing awareness about the application, benefits of the cannula, various surgical procedures available in the market, and the rising number of minimally invasive procedures are fuelling the market growth. In addition, the technological advancements and increasing initiatives for developing well-established medical and healthcare infrastructure in the region are expected to boost the market growth.
An increase in the growing population with the rise in the elderly population is majorly driving the market growth. Also, the rise in the number of patients, as well as surgeries due to increasing in the rising prevalence of chronic diseases such as diabetes, heart disease, retinal diseases, and other illness among the people, is expected to uplift the market growth as cardiovascular disease is the most common factor for causing fatalities among the all-age groups in this region.
Furthermore, the rising investments and fundings from government and non-government organizations in research and development activities for manufacturing innovative and advanced surgical procedures are expected to provide lucrative growth opportunities to the new market entrants. As a result, key market players and manufacturers in the region are launching new products into the market. Also, the implementation of market strategies, including partnerships, mergers, and acquisitions, expands regional market growth.
However, the lack of trained and skilled professionals for operating the procedures and the complications and damages that occurred by cannula due to catheter penetration can rise to infections, bleeding to the person are the main factors that affect the growth of the cannula market his region. In addition, the other factors that affect the market growth are the strict rules and regulations for introducing products in the market.
This research report on the Middle East and Africa cannula market has been segmented and sub-segmented into the following categories:
By End Users:
Geographically, the Middle East and Africa account for a moderate share in the global cannula market during the forecast period. The regional market growth is driven by an increase in the development of the market in the forecasted period due to the rise in the growing population, improving healthcare sectors, and supportive government policies to transform healthcare practices in the emerging countries. Furthermore, the significant contribution from emerging countries such South Africa, Saudi Arabia, and UAE are expanding the MEA regional market growth.
UAE holds a significant share in the MEA market due to the increase in the growing technologies developing new advanced products and the rising awareness about the surgical treatment and procedures available in the market. In addition, the UAE is known for being the best specialized cosmetic surgery doctor for rhinoplasty, liposuction.
South Africa and Egypt are expected to grow at a healthy rate during the forecast period. The market growth is attributed to the increase in the investment and fundings from government and non-government in research and development activities, the increasing prevalence of chronic and heart diseases, and the rising number of minimally invasive procedures.
On the other hand, Saudi Arabia has witnessed many cardiovascular disease patients in recent years, which is increasing the demand for cannula in the market. Also, the government initiatives for developing advanced medical and healthcare infrastructures have been uplifting the market growth.
KEY MARKET PLAYERS:
Companies dominating the MEA cannula market profiled in the 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), among others.
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