The Global Arterial Cannula Industry is poised for significant growth, driven by advancements in medical technology and the increasing demand for minimally invasive procedures. According to a groundbreaking study by Future Market Insights (FMI), a leading market research firm, the market is expected to experience a stellar Compound Annual Growth Rate (CAGR) of 6.6% from 2023 to 2033. This translates to a projected market valuation of a staggering US$40 billion by 2033, reflecting a remarkable transformation within the medical device landscape.
The rise in the need for arterial cannulas is ascribed to the increasing prevalence of chronic illnesses that require urgent medical attention. Modern medical treatments are needed since procedures like dialysis, cardiopulmonary bypass surgery (CABG), and extracorporeal membrane oxygenation (ECMO) are becoming more common. The global arterial cannula market is expected to be essential in supplying this expansion, propelling itself into an era of unparalleled growth.
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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 aging population and rising demand for minimally invasive procedures (MIS) are likely to propel market growth. The worldwide Global Arterial Cannula Industry 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 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 Global Arterial Cannula Industry. Furthermore, important suppliers are investing in R&D projects to create high-quality items.
Key Takeaways from the Global Arterial Cannula Industry Study
- FMI projects the Global Arterial Cannula Industry 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 Industry 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, Europe is expected to grow at a CAGR of 6.3% in the assessment period 2023-2033.
- The hospital segment is expected to hold the largest market share for arterial cannulas 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,” Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Global Arterial Cannula Industry Competition:
- Medtronic, plc.
- LivaNova plc
- Edward Lifesciences
- Getinge AB
- Fresenius Medical Care
- BD, Nipro Corp.
- Andocor
- Freelife Medical GmbH
- Surgical Holdings
- Kangxin Medical.
Global Arterial Cannula Industry 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 Global Arterial Cannula Industry Survey
Global Arterial Cannula Industry by Application:
- Extracorporeal Membrane Oxygenation (ECMO)
- Cardiopulmonary Bypass Surgery
- Others
Global Arterial Cannula Industry 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
Global Arterial Cannula Industry by End Use:
- Hospitals
- Ambulatory Surgical Centers
- Others
About the Healthcare Division at Future Market Insights
The healthcare team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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