The global cannula market size was valued at USD 151.4 million in 2021 and is projected to reach USD 283.77 million by 2030 at a CAGR of 7.23% 2022 to 2030. A cannula is a small hollow tube with a sharp and retractable inner core that is inserted into a vein, artery, or another body cavity to administer medication and withdraw fluids. Various types of cannula are available for use in various procedures. For instance, an intravenous cannula is used to establish cardiopulmonary bypass during cardiac surgery. In a similar fashion, a nasal cannula is used to administer oxygen by passing the plastic tubing beneath the nose. In addition, it is frequently used for injecting fillers because it causes less pain, reduces the risk of bleeding and bruising, and offers greater flexibility than hypodermic needles. It is widely used in hospitals, ambulatory surgery centers (ASCs), blood banks, laboratories, and pathology labs on the world as a result of its numerous qualities.
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Globally, over 234 million procedures are performed annually, per the National Center for Biotechnology Information. Medical cannulae are necessary for the administration of therapeutic and diagnostic chemicals, as well as anesthetic procedures, suction, and irrigation.
In addition, a substantial proportion of the population prefers minimally invasive procedures. According to the National Center for Biotechnology Information, proper surgical equipment (including medical cannulae) has the potential to prevent 6-7% of fatalities.
In recent years, worldwide obesity rates have risen dramatically. As a result of the increasing prevalence of lifestyle disorders such as obesity and diabetes, the number of surgical procedures performed around the world is increasing, thereby contributing to the development of the cannula market.
In addition, the growing elderly population and the preference for minimally invasive procedures (MIS) are driving market growth.
In the medical field, minimally invasive surgical procedures are gaining popularity. For the treatment of cardiovascular diseases, there has been a rapid rise in the popularity of minimally invasive procedures. This is due to the fact that minimally invasive procedures cause less surgical trauma and produce a more aesthetically pleasing outcome. It provides benefits such as smaller incisions, reduced risk of infection, smaller scars, less blood loss, and less pain and trauma. As a result, there is a growing preference for minimally invasive surgical procedures, which is anticipated to stimulate the market for cannulas.
In surgical procedures, medical cannulae are unavoidable; however, improper cannulation can result in hypersensitivity, extravasation, infiltration, phlebitis, and systemic or local infections.
In addition, IV cannulation of a newborn could be excruciatingly unpleasant if not performed with care. In addition, only a handful of institutions around the world offer training in medical cannulation. Lack of competent labour and cannulation errors are likely to impede market expansion in the foreseeable future.
In all regions, the use of syringes and cannulas is increasing in the healthcare industry. Due to the fact that these goods are simpler to produce than other medical equipment, there is a greater chance that more manufacturers will enter the market and earn substantial profits.
Relevant is also the fact that the market is highly fragmented, comprised of numerous regional and local firms. As a result, the industry is incredibly competitive, posing a threat to existing businesses. As a result, market leaders are continuously working on strategic developments and releasing new products, a factor that drives the market.
This market can be segmented on the basis of product, type, material, size, end-use, competitors and regions. On the basis of product, the market for cannulas is divided into cardiac (arterial, venous, cardioplegia, and other) dermatology, nasal, and other segments. In 2021, the largest market share was held by the cardiac segment. This is because of the prevalence of cardiovascular disease. The prevalence of cardiovascular disease is on the rise due to factors such as a shift toward a more sedentary lifestyle, increased consumption of processed foods, and a decline in physical activity. In addition, an increase in the geriatric population, which is at a higher risk of developing these diseases, also contributes to the dramatic rise in cardiovascular diseases. Consequently, the rise in the prevalence of cardiovascular diseases is the primary reason for the dominance of the cardiac segment in the cannula market.
The market is segmented by type into neonatal cannulae, straight cannulae, winged cannulae, a wing with a port, and winged with a stop cork. In 2021, the segment of cannulae that are straight held the largest market share. This is due to the fact that its design makes it easier to use. The product's extra-sharp needle also facilitates insertion. As a result, these types of cannulae are utilized in cardiac surgeries in order to prevent any mishaps and reduce any unnecessary delays that could cause the procedure to be extended.
The market is segmented into plastic, metal, and silicone based on material. Due to its increased adoption rate in both in-patient and out-patient procedures, the plastics segment held the largest market share in 2021. In shoulder arthroscopy, the majority of plastic cannulas are translucent, enabling surgeons to see instruments and sutures passing through the cannula. As a result, it is suitable for use in the vast majority of procedures, which will lead to its dominance throughout the period being forecasted.
During the forecast period, the silicone segment is expected to experience the greatest growth. This is attributable to the increasing use of silicone cannulas in oxygen therapies, which ensure the continuous delivery of oxygen to surgical patients and those with respiratory disorders. In addition, silicone cannulas are soft and flexible, making them a popular choice among medical professionals and patients.
14G, 16G, 18G, 20G, 22G, 24G, and 26G are market segments based on size. Colors represent various sizes of cannulas. In 2021, the 18G size held the largest market share, a trend that is anticipated to continue throughout the forecast period. This is due to the fact that the 18G cannula size is the most commonly used in hospitals for both adults and adolescents. 18G cannulas are used to administer blood products and drugs. These cannulas are intended for speedy blood transfusion. In addition, these are utilized for protocols involving computed tomography/pulmonary embolism and other tests requiring large IV sizes.
On the basis of the final application, the market is segmented into hospitals, ambulatory surgical centres, and others. Blood banks, research facilities, and pathology labs make up the remainder of the market. In 2021, the largest market share was held by the hospital's segment. This is due to the increase in hospitalization rates for numerous causes and treatments. Cannulas are utilized in numerous hospital specialties, including orthopedic surgery, cardiovascular surgery, neurology, gynecology, general surgery, oxygen therapy, and dermatology.
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In 2021, North America dominated the market with the largest market share. This is due to the region's availability of sophisticated healthcare facilities and the presence of market leaders. In addition, the increasing prevalence of lifestyle diseases in the region contributes significantly to its dominance. Other factors, such as increased awareness of minimally invasive procedures and the rising rate of cosmetic surgery adoption in this region, also contribute to the expansion of the market in this area. The American Society of Plastic Surgeons estimates that approximately $16.7 billion will be spent on cosmetic procedures in the United States in 2020.
Asia-Pacific is anticipated to experience lucrative growth during the forecast period as a result of a dramatic increase in the region's geriatric population, which creates a massive patient pool suffering from chronic diseases such as cardiovascular disease and diabetes. In addition, the government's increasing efforts to implement favourable policies to transform the healthcare sector, particularly in rural areas, are anticipated to further stimulate the market's expansion in this region.
Key market manufacturers are concentrating on the introduction of new products that will allow them to have a robust portfolio and bolster their market position. The market participants are also focusing on market consolidation activities, such as acquisitions and strategic partnerships that will enable them to maintain a dominant position in the market. Medtronic, Becton Dickinson (BD), Edward Lifesciences, LivaNova, Smiths Medical, and Boston Scientific Corporation are some of the leading companies operating in the cannula market.