The global medical cannula market is set to witness significant expansion, propelled by a surge in demand for minimally-invasive medical procedures worldwide. According to the latest market analysis, the medical cannula market is anticipated to achieve a staggering valuation of US$ 783.5 Million by 2030, with a remarkable Compound Annual Growth Rate (CAGR) of 7.3%.
The market, which was valued at US$ 445 Million in 2022, has been steadily gaining momentum owing to the escalating preference for minimally-invasive surgical techniques. This trend is driven by factors such as reduced trauma, faster recovery times, and improved patient outcomes. As medical professionals and patients alike increasingly opt for procedures with minimal invasiveness, the demand for medical cannulas is expected to soar.
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Medical cannulas, currently accounting for a 3.6% share in the global IV equipment market, are witnessing heightened demand due to the escalating incidence of infectious diseases worldwide. With the need for effective treatment solutions becoming paramount, medical cannulas are playing a crucial role in delivering therapeutic agents and facilitating precise interventions.
“The projected growth trajectory of the medical cannula market underscores its pivotal role in modern healthcare,” said FMI. “As medical technology continues to advance and the demand for minimally-invasive procedures surges, the significance of medical cannulas in enabling precise, targeted interventions cannot be overstated.”
The rise in demand for medical cannulas reflects a broader shift towards advanced medical technologies and techniques that prioritize patient comfort, safety, and optimal outcomes. With innovations driving the development of more sophisticated and versatile cannula designs, the market is poised for sustained expansion in the coming years.
The excerpt highlights several factors driving the growth of medical cannula demand:
- Increased Number of Medical Procedures: The text mentions a statistic – over 234 million procedures are performed annually worldwide. Cannulas are crucial for delivering medications, anesthesia, performing suction/irrigation, and more during these procedures.
- Minimally Invasive Surgery (MIS) Trend: The growing preference for MIS procedures is a significant factor. Successful MIS often relies on cannulas for delivering necessary tools and fluids. Studies suggest proper surgical packages, including cannulas, can potentially reduce surgical mortality rates.
- Rising Obesity & Diabetes Rates: The increasing prevalence of obesity and diabetes is leading to more surgical procedures, which in turn drives cannula demand. These chronic conditions can lead to complications requiring surgical intervention.
- Expanding Elderly Population: The growing elderly population is another contributor. As people age, they are more likely to require medical procedures that may utilize cannulas.
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Competitive Landscape:
Prominent companies in the medical cannula market employ a variety of strategies to enhance revenue across diverse regions, including acquisitions, mergers, expansions, collaborations, and product launches.
These companies are increasingly focusing on developing and underdeveloped regions, aiming to broaden their product portfolios in emerging and low-income countries.
Key Companies Profiled:
- Boston Scientific Corporation
- Medtronic plc.
- Becton, Dickinson and Company
- Teleflex Incorporated
- Conmed Corporation
- Stryker Corporation
- B. Braun Melsungen
- Terumo Corporation
- Smith & Nephew
- Getinge Group
- LivaNova plc.
- Ypsomed Holding AG
- Harsoria Healthcare Pvt. Ltd.
- Beaver-Visitec International
- DTR Medical Ltd.
- CosmoFrance Inc.
Key Segments of Medical Cannula Industry Survey:
Medical Cannula Market by Product:
- Guedel
- Yankauer
- Berman
- Frazier
- Spackmann
- Barron
- Novak
- Poole
- Robertazzi
- Bellucci
- Brackman
- Karman
- Others
Medical Cannula Market by Medical Procedure:
- Vascular Access
- Surgery
- Intubation
- Lipofilling
- Suction
- Irrigation
- Biopsy
- Insufflation
- Hysterography
- Insemination
- Cardioplegia
Medical Cannula Market by Size:
- 14G Medical Cannulas
- 16G Medical Cannulas
- 18G Medical Cannulas
- 20G Medical Cannulas
- 22G Medical Cannulas
- 24G Medical Cannulas
- 26G Medical Cannulas
Medical Cannula Market by Material:
- Latex Medical Cannulas
- Latex-free Medical Cannulas
- Neoprene Medical Cannulas
Medical Cannula Market by End User:
- Hospitals
- Ambulatory Surgical Center
- Clinics
- Others
Medical Cannula Market by Region:
- North America Medical Cannula Market
- Latin America Medical Cannula Market
- Europe Medical Cannula Market
- East Asia Medical Cannula Market
- South Asia & Pacific Medical Cannula Market
- Middle East & Africa (MEA) Medical Cannula Market
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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