Cannulas Market worth $135.5 M by 2020, According to a New Study on ASDReports

Wednesday 6 May 2015, Amsterdam

The report, now available on ASDReports, “Cannulas Market by Product (Nasal, Arterial, Arthroscopy, Ophthalmic, Cardioplegia, Suction, Femoral, Injector, Infusion, Venous, Microcannula), Material (Plastic, Metal) & End Users (Hospitals, Ambulatory Surgical Centers) - Global Forecast to 2020”, provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends and strategies impacting the global market along with estimates and forecast of revenue.

The cannulas market is poised to reach $135.5 million by 2020 from $97.6 million in 2014 at a CAGR of 5.6% from 2015 to 2020.The increasing number of surgeries, advancement in the healthcare facilities, large pool of patients, and rising government funding are driving the cannulas market. In addition to this, increasing minimally invasive surgery (MIS) procedures is also one of the key drivers of cannulas market. On the other hand, uncertain regulatory framework in medical devices industry is the key factors limiting the growth of this 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).