A recently published study by FMI expects the global arterial cannula market to augment at a 6.6% CAGR from 2022 to 2032. By the end of the said assessment period, a valuation of US$ 40 Billion is expected for the market. 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. 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.
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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 rising popularity of aesthetic operations, as well as the expanding influence of social media, is driving up demand for arterial cannulas. In Addition to that, good government laws for delivering essential healthcare services, as well as advances in healthcare facilities are expected to drive the worldwide arterial cannula market. Furthermore, important suppliers are investing in R&D projects in order to create 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 ageing 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
Key players in the automotive axles market are Medtronic, plc. LivaNova plc, Edward Lifesciences, Getinge AB, Fresenius Medical Care, BD, Nipro Corp., Andocor, Freelife Medical GmbH, Surgical Holdings and 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.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the global Arterial Cannula market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of Application (ECMO, Cardiopulmonary Bypass Surgery), by Size (20-22 Fr, 35-36 Fr), by End-use (Hospitals, ASCs), across five major regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).
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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
About FMI:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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