Faster post surgery patient recovery and reduction surgical procedure durations are the two significant factors which are expected to account for the rise in demand of medical cannulas. Furthermore, the cannulas market is also expected to witness a growth through the forecast period owing to increasing corporate and government funding in R&D of novel cannulas, growing pool of patients and rising number of surgeries in the geriatric population, increasing demand for minimally invasive surgery (MIS) and advancement in healthcare facilities. Various other factors such as rising median age of the global population, increasing prevalence of lifestyle induced diseases such as obesity, introduction of single-use cannulas for surgical use as new technology development by market partners, introduction of novel ultrafine cannula and introduction of new injection molding technology developed for the production of plastic medical needles are also expected to fuel demand through to the 2020.
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Cannulas offered in the market are manufactured using plastic, metal or silicone. Silicone cannulas are expected to witness the fastest growth in the next seven years owing to their increasing usage in the oxygen therapies for continuous supply of oxygen to elderly people and patients suffering from disorders related to respiration. The consumers of cannulas are blood banks, hospitals, home healthcare facilities, and ambulatory surgical centers. Hospitals are expected to account for the highest demand for cannulas throughout the forecast period owing to the increasing number of patients in hospitals under surgical or post surgical treatment. Cannulas find application in oxygen therapy, cosmetic, plastic and general surgery, cardiovascular and orthopedic Surgery gynecology, ophthalmology, diabetes treatment, and neurology. Cannulas find further application in capsule polishers, anesthetic, hydrodissection, lacrimal, refractive, irrigation, and retinal procedures.
The geographical analysis of cannulas market divides it into North America, Europe, Asia-Pacific, Latin America and MEA. In 2014, North America accounted for the largest market share owing to the presence of large base of population which requires medical cannulas in various surgical procedures. However, Asia-Pacific market is expected to witness a lucrative growth in the next six years. This growth can be attributed to the increasing R&D investments by government and corporate, increasing use of MIS in different procedures. Asian economies like India, China, and Japan are expected to drive market growth in the Asia-Pacific. The key participants in the cannulas market are Terumo Corporation, Medtronic plc, Edward Life sciences Corp., Sorian Group, Visitec Cannula, Boston scientific corp., Harsoria Healthcare Pvt. Ltd., La-med Healthcare.
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