The cannula market deal with insertion tube that allows access to the interior of a hollow organ or blood vessel. Cannulas are used during surgical procedures like cardiac catheterization for diagnosis and treatment of cardiovascular diseases. The demand for cannulas is driven by the rising number of surgical procedures worldwide. Cannulas provide minimal invasiveness and allow controlled and targeted delivery of fluids, medications and instruments during medical procedures.

The Global Cannula Market is estimated to be valued at US$ 180.4 Mn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030.

Key Takeaways

Key players operating in the cannula market are Smith Nephew, Maquel Holding B.V. Co. KG., Sorin Group, Edward Lifescience Corporation, Medtronic plc, Terumo Corporation, Boston Scientific Corporation, Teleflex Incorporated, Conmed Corporation, Dolphin Surgicals, Micromed International, Goodhealth Inc., and Biotek (Chetan Meditech Pvt. Ltd.). The demand for cannulas is increasing owing to rising number of surgical procedures globally. According to the WHO, around 313 million surgical procedures were performed globally in 2020. Technological advancements like development of anti-reflux cannulas and selective catheter cannulas have improved safety, accuracy, and efficiency of medical procedures.

Market Trends

Increased adoption of single-use cannulas - Single-use or disposable cannulas help prevent the possibility of infection and contamination. They are preferred to reduce the risk of hospital-acquired infections.

Growth in ambulatory surgical centers - ASCs provide surgical services on an outpatient basis offering cost-effective care. Rising number of ASCs boost the demand for cannulas for day surgeries.

Market Opportunities

Development of advanced cannulas for complex surgeries - RD in cannula design and materials can help develop new variants for complicated procedures in neurosurgery, cardiovascular and other fields.

Emerging markets in Asia Pacific and Latin America - Improving healthcare infrastructure and access in developing nations will drive the volume growth opportunities for cannula manufacturers in these regions.

Impact of COVID-19 on Cannula Market Growth

The COVID-19 pandemic has significantly impacted the growth of the cannula market. During the initial lockdown phases in several countries, non-essential surgical procedures were postponed to focus resources on treating COVID-19 patients. This resulted in a decline in demand for various medical devices including cannulas used in surgeries. However, as the pandemic progressed, the focus shifted toward resuming delayed surgeries as well as treating other chronic diseases. This helped revive the cannula market growth towards the end of 2020 and in 2021.

The supply chain disruptions during the early lockdown periods also posed challenges for cannula manufacturers. Restrictions on transportation and workforce availability issues impacted the production and distribution of cannulas. This supply demand gap further contracted the market size temporarily. However, with resuming of operations gradually, the supplies were restored.

Going forward, the post-COVID scenario brings opportunities like faster adoption of single-use and disposable cannulas to minimize infection risks. There is also more focus on minimally invasive surgeries using cannulas which helps reduce patient's hospital stays and recovery times. The pandemic has highlighted the importance of robust healthcare systems which is expected to drive higher government investments globally. This will support the growth of healthcare infrastructure and the cannula market in the long run.

North America accounts for the largest value share of the Cannula Market

North America dominates the global cannula market and accounts for the highest value share of over 35% currently. This is attributed to factors like availability of advanced healthcare facilities, large patient pool undergoing various surgeries, and growing adoption of minimally invasive surgeries in the region. Furthermore, presence of leading cannula manufacturers in the US and Canada further strengthens the market presence.

The demand for cannulas in North America is driven by rising lifestyle diseases, growing geriatric population undergoing joint replacement surgeries, and increased healthcare expenditures. Favorable reimbursement policies for surgical procedures also support the market growth. With new product innovations to improve safety and minimal invasiveness, the North American cannula market is estimated to continue leading in terms of value in the forecast period as well.

Asia Pacific exhibits fastest growth for Cannula Market

The Asia Pacific region is poised to witness the fastest growth for the global cannula market in the coming years. This is majorly attributed to increasing healthcare expenditures, rising incomes, growing medical tourism, and expanding medical infrastructure in emerging countries of Asia Pacific.

Countries like China, India, Japan, South Korea, and others are undergoing rapid economic development which is enhancing access to quality healthcare. Additionally, Asia Pacific countries also have large patient populations requiring surgical procedures. This is leading to rising demand for cannulas and other medical devices in Asia Pacific. With improving standards of living, the populations in Asia are also opting for advanced minimally invasive surgeries further driving the regional cannula market growth.