Global Cannula Market Statistics: USD 267.6 Million Value by 2032

Summary:

• The global cannula market size reached USD 159.2 Million in 2023.
• The market is expected to reach USD 267.6 Million by 2032, exhibiting a growth rate (CAGR) of 5.8% during 2024-2032.
• North America leads the market, accounting for the largest cannula market share.
• Cardiac cannulas account for the majority of the market share in the product segment because of the rising incidence of cardiovascular disorders.
• Straight cannulas hold the largest share in the cannula industry.
• 18G remains a dominant segment in the market due to its extensive and adaptable use in medical operations.
• Plastic (PVC) cannulas represent the leading material segment.
• On the basis of application, the market has been divided into cardiovascular surgery, oxygen therapy, general surgery, cosmetic/plastic surgery, orthopedic surgery, and others.
• Hospitals exhibit a clear dominance as they offer comprehensive care to patients.
• The rising number of surgical procedures is a primary driver of the cannula market.
• The increasing prevalence of chronic diseases and technological advancements are reshaping the cannula market.

Industry Trends and Drivers:

• Growing Surgical Procedures:

The rising number of surgical procedures across various medical specialties is propelling the market growth. There is an increase in the reliance on minimally invasive (MI) procedures, which require specialized cannulas for fluid and medication administration. In addition, the growth in elective surgeries, especially in areas, such as orthopedics, plastic surgery, and bariatric surgery, contributes to this demand. Hospitals and surgical centers are expanding their capabilities to manage more complex cases, leading to higher usage of cannulas for interventions like laparoscopic surgeries, endoscopic procedures, and catheterization. This trend not only highlights the importance of cannulas in enhancing surgical outcomes but also underscores the need for continuous innovation in design and functionality to cater to the diverse requirements of modern surgical practices.

• Rising Prevalence of Chronic Diseases:

The increasing prevalence of chronic diseases, such as diabetes, cardiovascular disorders, and cancer, among the masses around the world is bolstering the market growth. These conditions often require ongoing medical treatment and monitoring, which necessitates the use of cannulas for medication delivery, fluid management, and blood sampling. As populations age and lifestyle-related health issues become more prevalent, the demand for effective medical devices like cannulas rises. Furthermore, chronic disease management often involves multiple interventions, including regular surgeries and hospital visits, increasing the need for reliable cannula options. Healthcare systems are focusing on improving patient care quality for chronic disease management.

• Technological Advancements: