The global medical cannula market was valued at US$ 145 million in 2021 and is expected to grow at a CAGR of 7.2% through 2032.
A medical cannula is a small medical plastic tube that is inserted in a vein. It is mostly given when you are on medication and cannot consume solid foods. It is also given as the food needs to enter your bloodstream directly to give you strength and energy. It is also used for obtaining blood samples. The insertion of medical cannulas is one of the most frequent procedures hospitals use and it enables the process of intravenous fluids, medication and also nutrition provision.
Market Forecast for the Medical Cannula Market
The major parameters contributing to the growth of the medical cannula market including the rise in number of patients undergoing minimally invasive surgery, the rise in the geriatric population, quick patient recuperation and also the increasing prevalence of severe lifestyle diseases.
Several life-threatening diseases have been propelling the need for the medical cannula product. Statistics have suggested that there has been a rise in the number of people suffering from several cardiovascular disorders and this has also brought a steep rise in the demand for medical cannula products.
Market Drivers for the Medical Cannula Market
The major driving factors for this industry are the rise in the number of surgeries, advancement in the health care facilities, increased focus on the research and development facilities, the increasing prevalence of lifestyle diseases such as obesity, diabetes are on the rise and have propelled the need for the production of the Medical Cannula products.
Global Medical Cannula Market- Share Analysis, by Geography (2022)
The report titled “Global Medical Cannula Market- Global Market Share, Trends, Analysis and Forecasts, 2023-2032” offers market estimates for a period 2023 to 2032, wherein 2021 is the historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the Global Medical Cannula Market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
Geographical Analysis
North America is expected to dominate the medical cannula market during the forecast period. The rise in production is due to the rise in various diseases and lifestyle disorders. Also, the increasing use of advanced technology and highly established infrastructure is one of the reasons for the North American market to be at the forefront.
Europe follows North America and accounts for the second-largest market share in the revenue scale owing to several factors such as the ongoing research and development, and the huge patient pool in the region which also demands the highest research and development activities.
Asia-Pacific is all set to grow the fastest during the forecast period. The growth in demand for medical cannula across China, Japan, and Indian is expected to play a pivotal role in shaping the APAC market. The rise in population and the strong support of government in the health sector adds to the regional revenue for medical cannula.
The report aims to study in detail a comprehensive analysis of the medical cannula Market and presents before us a detailed analysis of the several market players, end-user analysis, and several important factors which drive the growth of the market.
The leading players in this market include Medtronic PLC; Edward Life science Corporation; Sorin Group; Maquet Holding; Terumo Corporation; Smith’s Medical; Liva Nova Plc; Beckton Dickinson and Company and others.
Market Segmentation
By Product Type
By Application
By End Use
By Geography
The medical cannula market was worth US$ 145 million in 2021.
The medical cannula market is expected to register a CAGR of 7.2% by 2032.
The major driving factors for this industry are the rise in the number of surgeries, advancement in the health care facilities and the increasing prevalence of lifestyle diseases such as obesity, diabetes are on the rise and have propelled the need for the production of the Medical Cannula products.
Key medical cannula market players are Medtronic PLC; Edward Life science Corporation; Sorin Group; Maquet Holding; Terumo Corporation.
During the projected period, North America is anticipated to dominate the medical cannula market. The increase in numerous diseases and lifestyle issues is what has caused the increase in production.
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