Market Highlights:
The Global Cannula Market is anticipated to hold a market
value of USD 113 million in the year 2017 and is expected to grow at a CAGR of
6.7% during the forecast period. Cannula is a thin tube entered into a vein or
body cavity in order to administer medication or to drain off fluid or to
insert some surgical instrument.
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Rising number of surgeries, advancements in healthcare
facilities and large pool of geriatric population are expected to drive the
market growth over the forecast period. According to a report published by the
Population Reference Bureau in January 2016, population in America aged 65
years and more is estimated to become 98 million by 2060 from 46 million
currently. However, uncertain government regulations regarding medical devices
can restrain the market growth over the assessment period.
Regional Analysis:
Geographically, the Americas is expected to dominate the
global market owing to the easy availability of advanced healthcare
infrastructure and rising awareness about minimally invasive surgeries.
According to a report published by the American Society of Plastic Surgeons, in
the US, total cosmetic minimally-invasive procedures performed were 15,714,118
in 2017. This number was 2% more as compared to 2016. Europe is expected to
hold the second largest position in the global market owing to the rising
number of cardiovascular surgeries. Asia-Pacific is expected to be the fastest
growing market owing to the presence of a large patient pool and increasing
geriatric population requiring surgeries. According to an article published by
the Asian Development Bank in January 2017, Asia’s elderly population is
estimated to reach nearly 923 million by the middle of the century. Moreover,
the Middle East and Africa region is expected to account for the least market
share in the global market.
Segmentation:
The global cannula
market has been segmented into product, material, application and end
user.The market, on the basis of product, has been segmented into cardiac
cannulas, nasal cannulas, vascular cannulas, dermatology cannulas, arthroscopy
cannulas and others.
The global market, on the basis of material, has been
segmented into plastic (PVC), silicone and metal (stainless steel). The plastic
(PVC) cannula are expected to hold the largest market share owing to its
extensive use in general surgeries. The silicone cannula are expected to grow
at the fastest CAGR owing to its increasing usage in oxygen therapies and their
flexible & soft nature.
The global cannula market, by application, has been
segmented into cardiovascular surgery, oxygen therapy, general surgery,
cosmetic/plastic surgery, orthopedic surgery and others. The global market, on
the basis of end users, has been segmented into hospitals, ambulatory surgical
centers and others.
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Key Players:
Some of the prominent players in the global cannula
market are Medtronic, Edwards Lifesciences Corporation, Terumo Cardiovascular
Systems Corporation, LivaNova PLC, Smith & Nephew, CONMED Corporation,
Smiths Medical, Teleflex Incorporated, Boston Scientific Corporation, McKesson
Medical-Surgical Inc., Harsoria Healthcare Pvt. Ltd., ISPG Inc., ILIFE MEDICAL
DEVICES PRIVATE LIMITED (INDIA), Denex International, BD and Others.
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