The North American Cannula Market size was valued at USD 171.19 billion in 2022. This value is estimated to be growing at a CAGR of 5.51%, to reach USD 223.84 billion by 2027. The rising number of surgeries in the aged population and the increasing prevalence of lifestyle-related diseases such as obesity and diabetes are the key factors driving the growth of the North American cannula market.
North America and Europe are supposed to lead the overall market during the forecast period. The increasing prevalence of eye disease in the elderly and diabetic population is a significant driver of the North American cannula market. Also, technological developments in the field of ophthalmic surgery equipment and increased awareness of the surgical treatment of various retinal diseases are driving the growth of the North America Cannula Market. The increased government efforts and asthma cases, increased R & D investment by manufacturers with reliable product and service channels, and increased government and corporate investments could further drive the North American Cannula Market growth.
The rising prevalence of lifestyle-related diseases such as obesity, heart disease, and diabetes, and the need for intubation for these diseases is expected to drive profitable growth over the forecast period. For example, the Global Health Report states that about 40% of the US adult population is diagnosed with cardiovascular disease. It will act as an excellent opportunity for the increased demand in the cannula market in the North American nations.
Growth in the North America Cannula Market is restrained by the complicated injuries and difficulties resulting from improper cannula stabilization, resulting in patient resistance. It is often the main limitation in the growth of the North America Cannula Market.
In North American Cannula Market, the adverse effects and risks of high-flow nasal catheters can negatively impact the market growth over the next few years.
This research report on the North America Cannula Market has been segmented and sub-segmented into the following categories:
By End Users:
Regionally, North America has the leading market for cannula in the world by share. In the North America region, the United States is expected to have the largest share. Factors such as the rising number of surgical procedures and many patients are expected to drive the region's market growth.
The United States cannula market is predicted to cover the largest market share in the North American market during the forecast period due to the increasing number of surgeries, increased investment in R & D, the large pool of patients, and rising government funding. The number of operations procedures in the United States is anticipated to increase from around 129 million in 2018 to 144 million by 2023. Other factors include the presence of a large patient pool, combined with a large proportion of geriatrics suffering from chronic diseases like diabetes and cardiovascular diseases. In the United States, 34.2 million people were suffering from diabetics in 2018. According to the American Heart Association, there are 29 million adults diagnosed with heart disease. Approximately every 40 seconds, an American will have a heart attack, which is expected to drive the market growth in the coming years.
The Canadian cannula market is estimated to showcase an ideal market growth rate due to the rising infant mortality rate, developed healthcare infrastructure in Canada, and the increasing number of hospitals and clinics are expected to drive the Canada market.
Companies playing a dominant role in the North America 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) among others.
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