Cannula Market

Global Cannula Market Size (2024 to 2029)

The global cannula market is forecasted to value USD 270.21 million by 2029 and USD 203.45 million in 2024, growing at a CAGR of 5.84% during the forecast period.

The cannula is a tube inserted into the body for fluid injection, removal of fluid, and data collection. A cannula can cover the inner and outer layers of a trocar needle, thus increasing the effective length of needles by about half the original length of the needle. In veterinary applications, it relieves cattle from bloating and pressure in the abdomen, caused mainly by the accidental consumption of legumes. They are also used in the insertion of VeriChip. In aesthetic medicine, it finds its application in the form of the blunt-tip cannula, a small tube with an edge used for subdermal injection of gels or fluids. It is also used in liposuction procedures for injecting cosmetic wrinkle filters like collagen and hyaluronic acid. Finally, a push-pull cannula, which can inject and withdraw fluid, is used to study the effects of different chemicals on a cell.

MARKET DRIVERS

Growing advancements in healthcare facilities, YOY growth in the number of surgical procedures, and YOY growth in the patient count worldwide are primarily driving the global cannula market growth.

In addition, growing investments to do R&D, growing government funding, and YOY growth in the number of minimally invasive surgeries are further expected to fuel the market’s growth rate. Medical cannulas are reduced procedural time with use and faster patient recovery times. The global cannula market is expected to experience lucrative growth during the forecast period as public and private R&D funding increases, the number of patients undergoing surgical procedures improves, the development of healthcare infrastructures across the world, the introduction of new technologies developed by market partners such as single-use cannulas for surgical use, the introduction of cannula PROTEK Duo and the newer injection molding technology developed for the manufacture of plastic medical needles.

Cardiac cannula accounts for most of the cannula market mainly due to the high prevalence rate of cardiovascular disease and the large number of hospitalizations associated with heart disease. According to the World Health Organization (WHO), cardiovascular disease causes the highest number of deaths globally, accounting for an estimated 17.9 million deaths yearly. In addition, the Heart Foundation, Australia, states that cardiovascular disease is one of the main reasons for hospitalizations and resulted in 523,855 hospitalizations between 2017 and 2018 and played a role in another 800,000 hospitalizations in Australia. Therefore, the high prevalence of cardiovascular disease, excessive hospitalizations, and associated morbidity and mortality rates are driving increased demand for cardiac cannulas for intravenous drug delivery.

Furthermore, the growing incidence of various diseases due to the increasing adoption of a sedentary lifestyle among people is expected to impact product sales positively. In addition, the increasing demand for minimally invasive surgery (MIS) will drive the demand for cannulas during the forecast period. Advanced cannulas with improved functionality allow shorter procedure time and faster patient recovery. Therefore, the increasing availability of these devices is also likely to fuel the market. Other factors that benefit the growth of the market include the increase in the number of patients undergoing surgical procedures, the advancement of healthcare infrastructure, the increasing number of surgeries among the elderly, and the increasing prevalence of diseases related to lifestyles, such as obesity and diabetes, and the factors are expected to provide increased opportunities in upcoming years.

MARKET RESTRAINTS

However, strict government regulations and a lack of trained or trained physicians followed by cannulation errors may hamper the market's growth during the forecast period. The uncertain regulatory framework is slowing the growth of the cannula market. As a result, intense competition is expected to challenge the cannula market during the forecast period.

Impact of COVID-19 on the global cannula market

The novel coronavirus (COVID-19) pandemic caused by the reagent SARS-CoV-2 affects millions of people and the healthcare industry. Across the world, the business world has seen a significant downturn in growth due to COVID-19, whereas the healthcare industry had a mixed impact. The global cannula market faced difficulty in the first half of 2020. Lockdown restrictions and a ban on flights have created a slight decline in the market's growth rate. During COVID-19, many hospitals and clinics have prioritized treating patients with coronavirus and given less priority to non-essential medical procedures. This has reduced demand for cannulas and hampered the market’s growth rate for a short time. However, due to the unlock guidelines governments released worldwide, the cannula market recovery is picking up and is predicted to register a healthy CAGR during the forecast period.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Cannula Market Analysis By Product

The cardiac cannulas product segment is forecasted to have a substantial share of the global cannula market during the forecast period. Y-O-Y growth in the incidence of cardiac diseases is majorly accelerating the segment’s growth. According to the WHO, an estimated 17.9 million deaths die yearly due to cardiovascular diseases.

The dermatology cannulas segment is expected to be the fastest-growing segment during the forecast period based on the product. The increased usage of microcannulas to prevent pre-and post-surgery hurdles and the growing preference for minimally invasive surgeries are expected to grow to this segment.

The nasal cannula segment is expected to be one of the most lucrative. The nasal cannulas are small and durable-like structures supplying necessary oxygen to the patient through the device. 

Global Cannula Market Analysis By Application

Based on the application, the plastic surgery segment is predicted to showcase the fastest CAGR during the forecast period owing to the growing awareness among people to stay healthy, the rising obese population, and an increasing number of cosmetic/plastic surgeries.

Global Cannula Market Analysis By Material

Based on the material, the plastic segment is expected to hold a significant global market share during the forecast period. The wide use of plastic in general surgeries for both inpatient and outpatient procedures upsurges the growth of the segment.

The silicone segment is estimated to be the fastest-growing cannula market globally. Silicone cannulas are soft and durable, and many medical professionals prefer them as an option. The mentioned above factors aid in market development.

Global Cannula Market Analysis By End Users

Based on the end-users, the hospital segment is expected to dominate the global cannula market during the forecast period due to the increasing patient population and greater awareness among healthcare assistants. In addition, the accumulating hospitalization rates mount the end-users segment growth.

REGIONAL ANALYSIS

Geographically, the cannula market in North America accounted for the largest share of the global market in 2023. It forecasted to continue its domination in the global market throughout the forecast period, followed by Europe and the Asia Pacific regions. The U.S. is expected to top the North American cannula market during the forecast period. The ever-increasing patient population and improved healthcare ecosystem represent the country's market growth. According to the CDC, around 9 million adults are examined with chronic bronchitis in the U.S., and about 3.5 million adults were diagnosed with emphysema in 2017. The Canadian cannula market is to have the quickest growth rate in the region, with growing discretionary expenses and rising disposable revenue.

The European cannula market is forecasted to be the second-largest globally during the forecast period. The growing government support from the European countries and investments in medical research strengthen the market growth. The German cannula market is estimated to grow at the fastest CAGR during the forecast period in Europe. The increased employment in oxygen therapies for the regular supply of oxygen to patients and senior citizens suffering from respiratory disorders nourishes market demand. Around 15.9 million minimally invasive and surgical cosmetic procedures were implemented in 2020, in Germany, as per Annual Statistics of Plastic Surgery Procedures.

The cannula market in the Asia Pacific region is expected to have the fastest growth rate during the forecast period. In addition, the presence of developing countries and the growing patient population are demanding greater production of cannulas in this region, further resulting in regional market growth.

During the forecast period, the cannula market in Latin America is expected to register a steady CAGR.

The cannula market in the Middle East and Africa is gaining attention and is forecasted to showcase a moderate growth rate in the coming future.

KEY MARKET PARTICIPANTS

The most promising companies leading the global cannula market profiled in this report are Medtronic plc (U.S.), Edward Lifesciences Corp. (U.S.), Terumo Corporation (Japan), Sorin Group (Italy), Maquet Holding B.V. & Co. K.G. (Germany). The market participants adopt various strategies, such as mergers, acquisitions, collaborations, and new product launches, to maintain their market share and strengthen their position. In addition, some leading suppliers are investing in research and development (R&D) projects to introduce advanced products.

RECENT MARKET DEVELOPMENTS

• Smith & Nephew introduced two new cannulas, which are Clear- TRAC Complete & Clear- TRAC Flexible.
• LivaNova launched ProtekDuo cannula to address the COVID-19 virus as per the U.S. FDA regulations.
• LivaNova PLC, a medical device manufacturing company, recently launched a two-way arterial cannula to reduce the risk of limb ischemia.
• According to a study published in the Indian Journal of Ophthalmology, the J-shaped cannula has shown good surgical results in extracting the cortex.
• In 2020, Medtronic MDT introduced a newer cannula to treat balloon kyphoplasty surgeries across the United States. Medtronic's BKP (Balloon Kyphoplasty) products are believed to help this directional cannula treat vertebral compression fractures caused by benign lesions, cancer, or osteoporosis.
• In 2019, Cook Medical released the 2nd Generation CXI 2.6 Fr Support Catheter with Platinum Iridium Marker Bands for super-selective/small vessel anatomy for diagnostics procedures, including peripheral use.

This research report on the global cannula market has been segmented and sub-segmented based on the product, application, material, end-user, and region.

By Product

• Vascular Cannulas
• Cardiac Cannulas
• Arthroscopy Cannulas
• Nasal Cannulas
• Dermatology Cannulas

By Application

• Oxygen Therapy
• General Surgery
• Cardiovascular Surgery
• Plastic Surgery
• Orthopedic Surgery

By Material

• Metal
• Silicone
• Plastic

By End Users

• Hospitals
• Ambulatory surgical centers
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa