Market Overview:

The Cannula Market size is estimated to reach $286.5 Million by 2030, growing at a CAGR of 6.9% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Cannula Market – By Product (Vascular, Arthroscopy, Dermatology, Nasal), By Material (Plastic, Metal, Silicon), By Application (Cardiovascular, Oxygen Therapy, General Surgery, Cosmetic/Plastic, Orthopedic, Diabetes Treatment, Neurology), By End User (Hospitals, Ambulatory Surgical Centers (ASC), and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

Expansion of minimally invasive surgery (MIS) applications and Rising demand for home healthcare and point-of-care treatment are expected to create growth opportunities in the market during forecast period.

North America Dominated the Market in 2023:

North America accounted for the largest share of 41% of the Cannula Market in 2023 followed by APAC and Europe. The demand for cannulas in North America has experienced steadily increasing healthcare needs. For instance, according to the U.S. government in 2022, US healthcare spending reached $4.5 trillion, averaging $13,493 per person, constituting 17.3% of the nation's GDP. Additionally, as per Canadian Institute for Health Information In 2022, Canada's healthcare expenditure was projected at $331 billion, averaging $8,563 per person and constituting 12.2% of the country's GDP. As healthcare spending increases, there is a corresponding need for essential medical devices like cannulas, contributing to the growth of the cannulas market in both countries.

Cannula Market: Key Takeaways

Increasing Surgical Procedures:

The medical industry anticipates a surge in the demand for cannulas, driven by an escalating number of surgical interventions and the pervasive occurrence of chronic diseases. The expanding elderly population, coupled with a burgeoning preference for minimally invasive procedures, underscores the pivotal role cannulas play in contemporary healthcare. Lifestyle disorders such as obesity and diabetes further intensify this demand. According to the World Health Organization (WHO), about 422 million people worldwide have diabetes in 2023. As a result, the demand for surgical procedures, particularly in the cannula market, is expected to rise. Diabetes-related complications necessitate interventions such as vascular procedures, contributing to an increased need for cannulas to support surgical interventions and medical treatments in managing the disease's impact on patients worldwide. Notably, as medical practitioners increasingly seek efficient and patient-friendly solutions, the evolving landscape of cannula technology stands poised to meet these demands, heralding a promising trajectory for the market.

Rise of Cannula-Based Aesthetic Procedures:

The burgeoning popularity of cosmetic and aesthetic procedures has led to an escalating demand for advanced techniques and tools, with a particular emphasis on the use of cannulas. The rise in demand for injectables and dermal fillers is fueled by the growing desire for non-invasive, yet effective, facial enhancements. Cannulas, characterized by their precision and reduced risk of tissue damage compared to traditional needles, have become a preferred choice among both practitioners and patients. The surge in demand can be attributed to the increasing awareness of safety and the quest for natural-looking results. As individuals seek minimally invasive procedures with shorter recovery times, the aesthetic industry is witnessing a paradigm shift towards techniques that prioritize precision and safety, thereby propelling the demand for cannula-based procedures to new heights. 

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Scope of the Report: 

      Report Metric

                      Details

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

6.9%

Market Size in 2030

$286.5 Million

Segments Covered

By Product, By Material, By Application, By End User
 

Geographies Covered

North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).
 

Key Market Players
  1. Medtronic
  2. Terumo Cardiovascular Systems Corporation.
  3. Becton Dickinson
  4. Boston Scientific Corporation
  5. Fisher & Paykel Healthcare Limited.
  6. Conmed Corporation
  7. Teleflex Incorporated
  8. Getinge Group
  9. Harsoria Healthcare Pvt. Ltd.
  10. Sterimedix

Recent Developments:

  • In January 2023, UK manufacturer Sterimedix is spotlighting its advancements in ophthalmic and aesthetic cannulas at Arab Health, emphasizing its commitment to expanding globally. The showcase underscores Sterimedix's dedication to innovation and international market presence.
  • In February 2022, Gilde Healthcare Private Equity acquired EUROPIN, marking a strategic move to create a leading integrated contract manufacturer for custom cannulas and cannula systems.

Cannula Market: Competitive Landscape

Key companies profiled in the Cannula Market are Medtronic, Terumo Cardiovascular Systems Corporation., Becton Dickinson, Boston Scientific Corporation, Fisher & Paykel Healthcare Limited., Conmed Corporation, Teleflex Incorporated, Getinge Group, Harsoria Healthcare Pvt. Ltd., Sterimedix, and Others.

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