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Cosmetic/Plastic Surgery and Emerging Markets are Offering Lucrative Opportunities for Growth in the Cannulas Market
The report segments the global cannulas market on the basis of product, application, material, end-users and geography. Based on type of product, the global cannulas market is segmented into cardiac cannulas, vascular cannulas, nasal cannulas, arthroscopy cannulas, dermatology cannulas and others (floating spinal cannulas, vitreoretinal cannulas and hysterosalpingography cannulas). The dermatology cannulas segment is expected to be the fastest-growing segment by 2020 and is estimated to grow at a CAGR of 7.4%. The growth of this segment can be attributed to the increasing obesity rate and growing health consciousness, ultimately creating a demand for cosmetic/plastic surgeries.
On the basis of application, the cannulas market is segregated into cardiovascular surgery, oxygen therapy, general surgery, cosmetic/plastic surgery, orthopedic surgery, and others (diabetes treatment, ophthalmic surgery, gynecology and neurology). The cosmetic/plastic surgery segment is expected to be the fastest-growing segment in the cannulas market. The growth of this segment is attributed to the increasing health consciousness and growing number of obesity cases, leading to increasing number of cosmetic surgeries.
On the basis of material, the market is divided into plastic, silicone, and metal. In 2014, the plastic segment accounted for the largest share of the global cannulas market. The growth of this segment can be attributed to the increasing demand for flexible and cost-effective cannulas that causes less injury during surgical procedures.
However, silicone is expected to be the fastest-growing segment, owing to the increasing usage of silicone-based cannulas in oxygen therapies to provide continuous oxygen supply to the elderly population and patients suffering from respiratory disorders.
On the basis of end-users, the market is divided into hospitals, ambulatory surgical centers, and others (blood banks and home healthcare facilities). The hospitals segment accounted for the largest and fastest growing market of the global cannulas market. The growth of this segment is attributed to the increasing demand for minimally invasive procedures in cardiovascular, cosmetic, and general surgeries, which are generally performed in hospitals.
The rising number of surgical procedures, such as cardiovascular, plastic surgery, and the increasing prevalence of chronic obstructive pulmonary disorder (COPD) are driving the growth of the cannulas market in North American cannulas market. The Asia-Pacific cannulas market is estimated to grow at the highest CAGR during the forecast period. Increasing purchasing power of middle class population and increasing awareness about MIS techniques in different surgical procedures in countries such as China, India and Japan are fuelling the growth of this market in Asia Pacific region.
Cannulas Market by Product (Nasal, Arterial, Arthroscopy, Ophthalmic, Cardioplegia, Suction, Femoral, Injector, Infusion, Venous, Microcannula), Material (Plastic, Metal) & End Users (Hospitals, Ambulatory Surgical Centers) - Global Forecast to 2020
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