NEW YORK, July 12, 2019 (GLOBE NEWSWIRE) -- The global cannula market is expected to grow significantly from USD 117.89 Millionin 2018 to USD 202 Millionin 2025, at a CAGR of 8.3% from 2019 to 2025. Factors driving the market growth are; growing demand for injectable drugs, rising infant mortality rates, and growing number of surgeries across the globe. In addition, rising aging population and increasing incidence of chronic diseases, growing number of offline and online distribution channels and adoption of minimally invasive surgeries is further propelling the industry growth.
Cannula is a hollow tube that can be inserted into the body, often for the delivery or removal of fluids. It has a fitting that can connect to more tubing or a port for medication, and is also used to obtain blood samples for testing. Cannula is available in the market in different sizes with colors coding.
Intravenous therapy is treatment that infuses intravenous solutions and medications directly into a vein. IV therapy is an effective and faster way to deliver medication treatment in emergency cases. Owing to the increasing use of IV therapy among patients, the deployment for cannula is growing at a rapid pace, exhibiting a positive impact on market growth. Moreover, increasing product development by major players such as the next-generation cannula, which is designed to minimize health risks associated with needle injuries, and also helps bring down the overall cost substantially. Furthermore, major players are also using different strategies such as investment in R&D, partnerships, new product development, and acquisitions. In addition, government initiatives to boost the healthcare sector in developing countries are further expected to propel the industry growth.
The global cannula market is expected to reach USD 202 Million by 2025 at a CAGR of 8.3% during 2019-2025
Based on Material, the silicone segment is expected to emerge as the fastest growing segment over the forecast period
On the basis of Type, the neonatal segment is expected to hold a considerable share of the market over the forecast period
On the basis of Product, • The cardiac cannula segment held the major share of the market in 2018 • The nasal cannula segment is projected to grow at a healthy CAGR during 2019-2025, due to increasing global burden of COPD and growing prevalence of respiratory disorders across the globe
On the basis of End-Use, the hospitals segment held the major share of the market in 2018, due to different type of surgical producer performed in hospitals such as oxygen therapy, cardiovascular surgery, neurology, orthopedic surgery, and dermatology, among others
Geographically, North America held the major share of the global market in 2018. Asia-Pacific is expected to witness the highest CAGR during the 2019-2025.
Some of the key companies operating in the market include CONMED Corporation, Terumo Corporation, Medtronic, LivaNova, Becton, Dickinson and Company, Smiths Medical, Edwards Lifesciences Corporation, Smith & Nephew, Teleflex Incorporated, and Boston Scientific Corporation
The report provides the market value for the base year 2018 and a yearly forecast till 2025 in terms of revenue (USD Million). The report segments cannula market on the basis of material, type, product, size, application, end-use, and region.
Winged with stop cork
Wing with port
Ambulatory Surgical Centers
Central & South America
Middle East and Africa (MEA)
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