According to a recent FMI study, the global Arterial Cannula Market will grow at a 6.6% CAGR from 2022 to 2032. The market is expected to be valued at US$ 40 billion by the end of the assessment period.
The rising frequency of chronic diseases necessitating cardiopulmonary bypass surgery (CABG), dialysis, and Extracorporeal Membrane Oxygenation (ECMO) is driving the need for arterial cannula. Minimally invasive procedures are becoming more popular due to benefits such as faster recovery and reduced discomfort.
The increased incidence of lifestyle disorders like obesity and diabetes is increasing the number of surgical procedures performed throughout the world. This is a significant factor that is expected to improve arterial cannula market sales. Moreover, the growing ageing population and rising demand for minimally invasive procedures (MIS) are likely to propel market growth.
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The worldwide arterial cannula market is predicted to increase at an exponential rate during the forecast period, owing primarily to the rising prevalence of cardiovascular illnesses. According to the American Heart Association, approximately half of all individuals in the United States had some kind of cardiovascular disease in 2019. Furthermore, according to the CDC, around 20.1 million persons aged 20 and older in the United States had coronary artery disease in 2020, accounting for approximately 7.2% of the overall population.
Furthermore, the growing popularity of cosmetic procedures, as well as the growing influence of social media, are increasing demand for arterial cannulas. Furthermore, good government policies for providing essential healthcare services, as well as advancements in healthcare facilities, are expected to drive the global arterial cannula market. Furthermore, major suppliers are investing in R&D projects to produce high-quality items.
Key Takeaways from the Market Study
- FMI projects the global arterial cannula market to expand at a 6.6% value CAGR by 2033
- The global arterial cannula market is estimated at a market value of US$ 21 Billion
- The global arterial cannula market is expected to garner a market value of US$ 40 Billion
- North America is expected to be the most lucrative for arterial cannula market growth
- As per Future Market Insights, the Asia Pacific is expected to grow at a CAGR of 6.1% in the assessment period 2023-2033.
- As per Future Market Insights, the Europe is expected to grow at a CAGR of 6.3% in the assessment period 2023-2033.
- The hospitals segment is expected to hold the largest market share for arterial cannula in the forecast period 2023-2033.
“Asian countries with large aging populations, such as Japan, China, and India, promises significant development potential for the sector in this area,” says an analyst at FMI
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Market Competition
- Medtronic, plc.
- LivaNova plc
- Edward Lifesciences
- Getinge AB
- Fresenius Medical Care
- BD
- Nipro Corp.
- Andocor
- Freelife Medical GmbH
- Surgical Holdings
- Kangxin Medical
Recent Developments:
- In April 2020, LivaNova Plc. got a CE mark for their Bi-Flow Extracorporeal Membrane Oxygenation (ECMO) cannula for ECMO treatments in which femoral artery cannulation can be used.
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Key Segments Profiled in the Arterial Cannula Market Industry Survey
Arterial Cannula Market by Application:
- Extracorporeal Membrane Oxygenation (ECMO)
- Cardiopulmonary Bypass Surgery
- Others
Arterial Cannula Market by Size:
- 14-16 Fr
- 17-19 Fr
- 20-22 Fr
- 23-25 Fr
- 26-28 Fr
- 29-31 Fr
- 32-34 Fr
- 35-36 Fr
Arterial Cannula Market by End Use:
- Hospitals
- Ambulatory Surgical Centers
- Others
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