PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1605697
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1605697
Cannula Market size was valued at USD 180.2 Million in 2023, expanding at a CAGR of 7.5% from 2024 to 2032.
The Cannula Market is witnessing significant growth, driven by advancements in medical technology and increasing demand for minimally invasive procedures. A cannula, a thin, flexible tube inserted into the body, is widely used for fluid delivery, medication administration, or surgical purposes. Its applications span various medical fields, including cardiovascular, cosmetic, and oxygen therapy. The rising prevalence of chronic diseases, coupled with an aging population, has fueled its adoption. Innovations like safety cannulas and improved material designs are further propelling the market's expansion globally.
Cannula Market- Market Dynamics
Growing Demand for Cannulas Driven by Chronic Diseases and Surgical Advancements
The growing prevalence of chronic diseases and the rising number of surgeries globally are significant drivers of the cannula market. Chronic conditions like diabetes, cardiovascular diseases, and respiratory disorders necessitate frequent medical interventions, boosting demand for cannulas in both hospitals and outpatient care. Additionally, advancements in minimally invasive surgical procedures have increased the need for specialized cannulas designed for precision and patient comfort. The rising elderly population, who require ongoing medical care, further supports market growth. Coupled with technological innovations enhancing safety and efficacy, these factors are propelling the adoption of cannulas across healthcare settings worldwide.
Cannula Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.5% over the forecast period (2024-2032)
Based on Product segmentation, cardiac segment was predicted to show maximum market share in the year 2023
Based on Size segmentation, 18G size segment was the leading type in 2023
Based on Type segmentation, winged cannulas was the leading type in 2023
Based on Material segmentation, plastic was the leading type in 2023
Based on end user segmentation, hospitals were the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Cannula Market is segmented on the basis of Product, Size, Type, Material, End User, and Region.
The Cannula Market is segmented based on product type into cardiac, dermatology, nasal, and other categories. The cardiac segment is further divided into arterial, venous, cardioplegia, and femoral cannulas, which are extensively used in cardiovascular surgeries and procedures, including extracorporeal circulation and cardiac bypass. Dermatology cannulas are gaining traction in aesthetic medicine for procedures such as dermal filler injections, owing to their precision and reduced tissue trauma. Nasal cannulas are widely utilized in oxygen therapy to deliver supplemental oxygen efficiently. Other types of cannulas serve various medical applications, supporting procedures across multiple specialties, thereby contributing to the market's overall growth.
The Cannula Market, based on type, is categorized into neonatal cannula, straight cannula, winged cannula, wing with port cannula, and winged with stop cork cannula. Among these, winged cannulas dominate the market due to their widespread use in intravenous therapies and surgical procedures. The winged design allows for easy handling, precise placement, and reduced patient discomfort, making them a preferred choice in both hospitals and ambulatory settings. Additionally, neonatal cannulas are gaining traction in specialized pediatric care, while straight cannulas remain popular for routine medical applications. The growing demand for minimally invasive procedures and the increasing prevalence of chronic diseases globally are driving the adoption of cannulas across these segments.
Based on material, the market is divided into plastic, metal, and silicone cannulas. The plastic segment held the largest revenue in 2023, driven by its widespread adoption in both inpatient and outpatient procedures. Plastic cannulas, often translucent, enable surgeons to clearly see the instrumentation and sutures passing through during procedures like shoulder arthroscopy. This feature enhances their suitability for a wide range of medical applications, contributing to their dominance and expected continued growth throughout the forecast period.
The market is segmented by size into 14G, 16G, 18G, 20G, 22G, 24G, and 26G, with each size represented by a distinct color. In 2023, the 18G size segment led the market, capturing the largest revenue share, as 18G cannulas are commonly used in hospitals for both adults and adolescents.
The cannula market is broadly segmented based on end-use into hospitals, ambulatory surgical centers (ASCs), and other healthcare settings. Among these, hospitals dominate the market due to their extensive use of cannulas in various medical procedures, including surgery, intravenous therapy, and blood transfusions.
Cannula Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America holds a dominant position in the global cannula market due to the advanced healthcare infrastructure, high prevalence of chronic diseases, and significant adoption of cutting-edge medical technologies. The region's focus on improving healthcare standards, coupled with a strong presence of leading market players, further contributes to its market leadership. In Europe, the market is growing steadily due to a robust healthcare system and increasing government investments in healthcare facilities. The Asia Pacific region is witnessing rapid growth, primarily driven by expanding healthcare access, rising healthcare expenditure, and a growing geriatric population, which demands more surgical and medical interventions. Latin America and the Middle East & Africa are expected to show gradual growth, supported by improving healthcare infrastructure and rising awareness regarding advanced medical devices.
The Cannula Market is highly competitive, with several key players focusing on innovation and expanding their product offerings. Major companies in this space include Becton, Dickinson and Company, Smiths Medical, Medtronic, and Terumo Corporation, which are continuously enhancing their cannula designs for improved safety, comfort, and precision. The market is dominated by the single-use cannulas segment, which is widely preferred due to its convenience and reduction in cross-contamination risks. As healthcare facilities emphasize patient safety and infection control, the demand for single-use cannulas is expected to continue to rise, driving growth in this segment. The competitive landscape is shaped by technological advancements, strategic partnerships, and regional expansion.
In January 2023, Inspira Technologies announced that the U.S. Patent and Trademark Office (USPTO) had granted them a patent for their convertible dual-lumen cannula device and its associated technique, specifically designed for the INSPIRA ART System. The patent, which includes 20 claims, highlights the innovative and industrially significant nature of the technology.
In April 2023, Australian medical device company VeinTech secured USD 500,000 in funding to further develop its groundbreaking VeinWave, a portable, AI-powered vein imaging system aimed at assisting clinicians in accurately identifying the correct vein on the first attempt during cannulation procedures.