Cannula Market report categorizes the Global Market by Material (Plastic, Metal) & End Users (Hospitals, Ambulatory Surgical Centers), Product (Femoral, Injector ,Arterial, Nasal, Suction, Infusion, Venous, Microcannula ) & Geography
The global cannula market is expected to grow at a CAGR of 5.6% from 2015 to 2020 to reach $135.5 million by 2020 from $97.6 million in 2014.The market is expected to grow in the forecast period owing to increased investment in R&D, growing demand of minimally invasive surgery (MIS) procedures, large pool of patients, and increasing number of surgeries. However uncertain regulatory framework is hindering the growth of cannula market.
On the basis of products, the market is divided into cardiac cannulas, vascular cannulas, nasal cannulas, arthroscopy cannulas, dermatology cannulas and others (floating spinal cannulas, vitreoretinal cannulas, hysterosalpingography cannulas).
On the basis of end users, the market is divided into hospitals, ambulatory surgical centers, and others (blood banks and home healthcare facilities).
The hospitals segment accounted for the largest and fastest growing market of the global cannulas market owing to increasing demand for minimally invasive procedures in cardiovascular, cosmetic, and general surgeries. On the basis of material, the market is divided into plastic, silicone, and metal.
The plastic material is estimated to be the largest segment during the forecast period.
Geographically, the cannulas market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America accounted for the largest share of the cannulas market, followed by Europe and Asia Pacific.
Both these markets are estimated to register single-digit growth rates over the next five years. However, Asia-Pacific is expected to register the highest growth rate during the forecast period owing to the increasing government support, growth in the purchasing power in the middle class population, and increasing awareness about MIS techniques in different surgical procedures.
Growth of the cannulas market in the Asia-Pacific region will revolve around China, India, Australia, and Japan.
The key players in this market includes Medtronic plc (U.S.), Edward Lifesciences Corp. (U.S.), Terumo Corporation (Japan), Sorin Group (Italy), and Maquet Holding B.V.
& Co. KG (Germany).
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