Medical Cardiac Cannula Market Size, Share, Growth, and Industry Analysis, By Type (Arterial Cannulation, IV Cannulation, Perfusion Cannula, Suction Intubation, Extracorporeal Circulation Tubing and others), By Application (Hospital, Clinic and others), Regional Insights, and Forecast To 2032

Updated On: 29 April 2024

REPORT OVERVIEW

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The global medical cardiac cannula market size was USD 9300 million in 2022. As per our research, the market is expected to reach USD 16050 million in 2029, exhibiting a CAGR of 8.2% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Medical cardiac cannula are flexible hollow tubes with a sharp inner core that are inserted into an artery, vein, or other bodily cavity. The tube is used to draw liquids or provide medicines intravenously. It is often utilised for operations such as drug administration or blood sample collection. They are commonly used in the treatment of cardiovascular disease.

The main factors driving the studied market are the increasing number of patients, the increasing number of surgeries and minimally invasive procedures, and the increasing number of technological advances, microcannulas make it easier to remove more fat during cosmetic surgeries, so they are used a lot in plastic surgery and cosmetic surgery, breast augmentation, liposuction, eyelid surgery, rhinoplasty, and abdominoplasty were the top 5 cosmetic surgeries done a year ago. In cardiac surgery, an intravenous cannula is used to achieve cardiopulmonary bypass. Similarly, a nasal cannula is used to give oxygen by passing plastic tubing via the nose. Furthermore, it is commonly used for injecting fillers since it produces less discomfort, minimises the danger of bleeding and bruising, and gives more flexibility than hypodermic needles. Because of its multiple benefits, it is widely used in hospitals, ambulatory surgical centres (ASCs), blood banks, laboratories, and pathology labs all over the world.

COVID-19 Impact: Market Distortion Factors Affected Market Growth

The pandemic of COVID-19 has a tremendous influence on the cannula market. The COVID-19 pandemic resulted in an increase in hospitalisations and the requirement for respiratory assistance. This increased demand for oxygen delivery and respiratory therapy cannulas, such as nasal cannulas and high flow nasal cannulas. Moreover, throughout the epidemic, infection prevention and control were critical. Healthcare institutions boosted their efforts to limit infection transmission, including the use of clean and single-use medical equipment like cannulas. This heightened the need of infection control and drove the demand for certain types of medical cardiac cannula.

LATEST TRENDS

"Launch of new Nasal Cannulas to stimulate market expansion"

A nasal cannula is a device that provides additional oxygen or increased airflow via the nose to persons who require assistance breathing. This gadget consists of a lightweight tube with two prongs that are placed in the nostrils and through which a combination of air and oxygen flows. The nasal cannula is suitable for people of all ages and may be used for short or extended periods of time. It allows you to breathe through your nose or mouth. The number of people who use nasal cannulas is increasing as more people develop respiratory ailments and visit the hospital for accidents or cardiac problems. High-flow oxygen treatment delivered by nasal cannula (HFNC) aids breathing by keeping the airways wet enough and has been demonstrated to be safe and effective in clinical use. Thus, the rising use of nasal cannulas in respiratory support is driving up demand for high-flow nasal cannulas, resulting in market growth throughout the forecast period. Thus, the process of developing new nasal cannulas is a major trend that is creating opportunity for the industry to flourish. The market's overall expansion is primarily the result of these recent changes.

SEGMENTATION

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• By Type

The market is divided into categories based on type, Arterial Cannulation, IV Cannulation, Perfusion Cannula, Suction Intubation, Extracorporeal Circulation Tubing and others.

• By Application

The market is divided into Hospital, Clinic and other categories based on application.

DRIVING FACTORS

"Availability of the product in different sizes that Boosts the Market"

The global industry has been further classified into 14-16 Fr, 17-19 Fr, 20-22 Fr, 23-25 Fr, 26-28 Fr, 29-31 Fr, 32-34 Fr, and 35-36 Fr sizes. The worldwide industry was led by the 20-22 Fr size category, which contributed for the largest percentage of total sales. The segment's high share can be attributable to an increase in the use of cannulas of this size during ECMO treatments. During the pandemic, the demand for these cannulas skyrocketed as a greater number of patients required ECMO, particularly those infected with the virus. When it comes to size, the usual rule that healthcare providers must follow is to use the lowest size feasible while yet allowing for proper drainage. This was because these cannulas were widely used in cardiopulmonary bypass procedures. The 35-36 Fr size category, on the other hand, is expected to increase at the quickest rate over the projected period. As a result, the market will benefit from growth and availability of the product in different sizes. It will help the Healthcare sector flourish and accelerate the Medical Cardiac Cannula market growth

"Growing Population is expanding to support market expansion"

One of the primary reasons positively affecting demand for medical cardiac cannula is the expanding worldwide population, which is more prone to chronic medical diseases. In addition, increased cardiovascular disease occurrences and a shift in preference towards minimally invasive procedures (MIS) are fuelling market growth. Aside from that, the expanding impact of social media and the growing popularity of cosmetic operations are producing a healthy market outlook. Furthermore, governments in various nations are enacting a plethora of policies to provide basic healthcare services, which, together with continual developments in healthcare facilities, are fuelling market growth. Together, these elements are encouraging market expansion, which is raising business revenues. As a result, the market will grow thanks to the growing population.

RESTRAINING FACTORS

"High Cost and Lack of Knowledge Will Prevent Market Expansion"

The medical device industry's undefined regulatory environment will hinder the expansion of the medical cardiac cannula market. During the projected period, the market's growth would be hampered by a shortage of qualified workforce and cannulation mistakes. This will be a significant impediment to market growth during the forecast period. This could be a significant issue limiting market growth. If this issue is resolved, the market will immediately begin to grow.

REGIONAL INSIGHTS

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"North America dominated the global market owing to rising Industrial development  "

Since this area is the largest user of the product, the market for medical cardiac cannula in North America has profited from the region's expanding industrial development and several driving factors that have boosted the potential sectors. The increasing demand for products in the Hospital, Clinic and other industries is one of the important factors driving the medical cardiac cannula market share. Rapid urbanisation trends will further strengthen the market as a whole.

KEY INDUSTRY PLAYERS

"Leading Manufacturers to Boost Product Demand Owing to Technological Developments "

The analysis covers data on market participants and their positions within the industry. Through appropriate research, mergers, technological development, expanding production facilities, and collaboration, data is being gathered and made available. Information on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more is provided in the study on materials.

List of Market Players Profiled

• Changzhou Kangxin Medical Devices (China)
• Edwards Lifesciences (U.S.)
• Medtronic (Ireland)
• WEGO (Singapore)
• Beijing Medos (China)
• Kewei Medical (China)

REPORT COVERAGE

The study goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including existing and potential market leaders. A considerable market expansion is anticipated as a result of several important factors. In order to provide market insights, the research additionally analyses elements that are probably to boost medical cardiac cannula market share. The report makes forecasts for market expansion during the projected time period. The objective of the regional study is to explain why one region dominates the worldwide market. There are a lot of issues that have all been carefully considered that prevent the industry from growing. The research also contains a market strategic analysis. It includes thorough market information.