The global arterial cannula market garnered a market value of USD 21 Billion in 2023 and is expected to accumulate a market value of USD 40 Billion by registering a CAGR of 6.6% in the forecast period 2022 to 2033.
Because of the growing utilization of these cannulas in extracorporeal membrane oxygenation, which owns the largest market share in the arterial cannula market in terms of application, the 20-22 Fr is likely to dominate the market.
During cardiopulmonary bypass (CPB), arterial cannulae are used to perfuse the ascending aorta. These are manufactured of a variety of materials, including biocompatible materials, silicone, polyurethane, polyvinyl chloride (PVC), and others.
Cannulas are typically flexible, translucent, and have hard or smooth plastic tips, as well as a connection. A cannula's tip can be straight or curved. It has a vent plug to de-air the cannula during cannulation. Some cannulas incorporate wire reinforcement, which reduces the danger of kinking and reduces wall thickness.
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 USA had some kind of cardiovascular disease in 2019. Furthermore, according to the CDC, around 20.1 million persons aged 20 and older in the USA had coronary artery disease in 2020, accounting for approximately 7.2% of the overall population.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value (2023) | USD 21 Billion |
| Anticipated Forecast Value (2033) | USD 40 Billion |
| Projected Growth Rate (2023 to 2033) | 6.6% CAGR |
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The global demand for arterial cannula is projected to increase at a CAGR of 6.6% during the forecast period between 2022 and 2033, reaching a total of USD 40 Billion in 2033, according to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 5%.
From 2023 to 2033, the worldwide arterial cannula market is expected to increase significantly during the forecast period. The increasing number of operations, advances in healthcare centers, increased Research and Development investment, rising government financing, and a broad patient pool are projected to drive the global arterial cannula market.
In addition, the rising popularity of minimally invasive surgery (MIS) is expected to fuel the worldwide arterial cannula market. Furthermore, the growth of a number of medical conditions caused by sedentary lifestyles, poor eating habits, alcohol use, smoking, and the development of healthcare systems in developing markets are expected to drive the worldwide arterial cannula market.
Rise in the Frequency of Cardiopulmonary Illnesses to Improve Maintenance and Performance
The rise in the frequency of cardiopulmonary illnesses, which leads to an increase in the number of bypass surgeries done globally, is driving the expansion of the global arterial cannulae market.
Furthermore, growing healthcare expenditures, advancements in healthcare facilities in emerging nations, and the general population's sedentary lifestyle, which leads to heart illnesses and obesity, are the primary drivers driving the market growth of arterial cannulae.
Technological Improvements and Innovations to Accelerate Market Growth
The penetration of regional local companies with low-cost devices is expected to boost the market growth in emerging markets. During the projection period, technological improvements and innovations in the artery cannula such as moveable suture rings, tapered collars, and straight tips are projected to boost the adoption rate of arterial cannulae.
High Cost of Equipment to Hinder Market Growth
The high cost of equipment and a scarcity of trained surgeons are two major factors impeding the growth of the worldwide arterial cannulae market.
Capitalize on the rising Vehicle Output to Widening Profit Margins
Due to advancements in healthcare facilities, higher Research and Development investment, a huge population base suffering from cardiovascular illnesses, and rising government spending in the healthcare sector, Asia Pacific is expected to grow at a considerable CAGR over the forecast period.
The Asia Pacific cannula market is predicted to rise due to a major increase in the region's older population, which provides a huge patient pool with individuals suffering from chronic conditions such as cardiovascular disease and diabetes. Furthermore, the government's increased attempts to pass favorable healthcare laws, particularly in rural regions, are expected to help this region's market expansion. As per Future Market Insights, the Asia Pacific is expected to grow at a CAGR of 6.1% in the assessment period 2023 to 2033.
Presence of Prominent Market Players to Accelerate Market Growth
Because of the presence of prominent market players and the availability of robust healthcare institutions in the area, North America is likely to contribute considerably to the cannula market during the forecast period. Furthermore, the increased frequency of lifestyle problems in the area is expected to boost regional market development.
Increased awareness of minimally invasive treatments and rising acceptance of cosmetic operations are expected to drive regional market growth in this area. According to the American Society of Plastic Surgeons, cosmetic operations in the United States will cost around USD 15.7 billion in 2020.
North America is expected to dominate the worldwide arterial cannulae market during the projected period, owing to the increasing prevalence of cardiovascular diseases as a result of a sedentary lifestyle, the increasing adoption of minimally invasive techniques, and the rising number of surgeries. As per Future Market Insights, North America is expected to grow at a CAGR of 6.5% in the assessment period 2023 to 2033.
Expanding Government Efforts fuelling sales of Arterial Cannula
In terms of revenue, Europe had the second-largest proportion. Factors such as an aging population, particularly in nations like Italy, expanding government efforts, and advantageous reimbursement situations support the region's growth.
According to MedTech Europe, the European trade group for medical technology, France, for example, established the 2018 to 2022 National Health Strategy for the prevention of cardiovascular risks by encouraging people to change their lifestyle patterns. As per Future Market Insights, Europe is expected to grow at a CAGR of 6.3% in the assessment period 2023 to 2033.
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The ECMO sector to enhance Sales Prospects
The sector has been further subdivided based on applications into cardiopulmonary bypass surgery, ECMO, and others. In 2022, the ECMO sector led the worldwide industry. This is due to the high frequency of cardiovascular illnesses and lung failures.
According to the American Lung Association, around 37 million Americans will have chronic lung disease by 2022, including COPD, asthma, chronic bronchitis, and emphysema. COPD, an obstructive lung condition that makes breathing difficult over time, has been identified in around 15 million American adults. This shows that the rising prevalence of respiratory disorders, which can lead to lung failure, is a key reason for the ECMO segment's domination.
The Hospitals Segment to Widen Growth Prospects
The global industry has been subdivided into hospitals, Ambulatory Surgical Centers (ASCs), and others based on end-users. In 2022, the hospital's segment led the industry.
This was mostly due to the enormous number of procedures conducted in these settings. Furthermore, the segment's expansion is likely to be fueled by the availability of various sorts of experienced specialists and surgical instruments. The increased number of admissions due to an increase in chronic illnesses is also predicted to drive segment growth throughout the projection period.
Key start-up players in the Arterial Cannula are offering new and innovative product lines to consolidate their market presence, these aforementioned start-ups have left no stone unturned. One of the key Arterial Cannula start-ups is as follows:
Key businesses are intent on executing strategic activities, such as acquisitions and partnerships, and collaborations that will help them increase their industry footprint and achieve a solid market position. Furthermore, with the introduction of new goods and regulatory clearances, important companies want to extend their portfolio and enhance their position.
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:
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 21 Billion |
| Market Value in 2033 | USD 40 Billion |
| Growth Rate | CAGR of 6.6% from 2023 to 2033 |
| Base Year for Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in US Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Application, Size, End Use, Region |
| Regions Covered |
North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East and Africa |
| Key Countries Profiled |
USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, India, Malaysia, Singapore, Thailand, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled |
Medtronic, plc.; LivaNova plc; Edward Lifesciences; Getinge AB; Fresenius Medical Care; BD; Nipro Corp.; Andocor; Freelife Medical GmbH; Surgical Holdings; Kangxin Medical |
| Customization | Available Upon Request |
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 USD 21 Billion
The global arterial cannula market is expected to garner a market value of USD 40 Billion
North America is expected to be the most lucrative for arterial cannula market growth
Medtronic, plc. LivaNova plc, Edward Lifesciences, Getinge AB, Fresenius Medical Care, BD, Nipro Corp., Andocor, Freelife Medical GmbH, Surgical Holdings, and Kangxin Medical are some prominent arterial cannula manufacturers
As per Future Market Insights, the Asia Pacific is expected to grow at a CAGR of 6.1% in the assessment period 2023 to 2033.
As per Future Market Insights, Europe is expected to grow at a CAGR of 6.3% in the assessment period 2023 to 2033.
The hospital segment is expected to hold the largest market share for arterial cannulas in the forecast period 2023 to 2033.
| Estimated Size (2024) | USD 229.5 million |
|---|---|
| Projected Size (2034) | USD 447.0 million |
| Value-based CAGR (2024 to 2034) | 6.9% |
| Estimated Size, 2024 | USD 1,592.2 million |
|---|---|
| Projected Size, 2034 | USD 2,824.7 million |
| Value-based CAGR (2024 to 2034) | 5.9% |
| Market Estimated Size in 2024 | USD 1,369.3 million |
|---|---|
| Projected Market Value in 2034 | USD 1,063.0 million |
| Value-based CAGR (2024 to 2034) | -2.5% |
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Arterial Cannula Market
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