Cannula Market size is valued at USD 145.9 Million in 2021 and is expected to grow at a significant CAGR of 6.1% during the forecast period 2022 to 2028. The global market provides a detailed overview of the Cannula Market and that can be segmented by Product type, Application, and End-User. By product, the cannula market has been segmented into General, Nasal Cannula, Vascular Cannula, Venous Cannula, Cardiac Cannula, Arthroscopy Cannula, Intravenous Cannula, Dermatology Cannula, Others.
The Nasal Cannula segment is likely to be the largest and fastest-growing segment in terms of type. Based on Application Cannula market is segmented into Orthopedics Surgery, General Surgery, Cardiovascular Surgery, Plastic Surgery, Oxygen Therapy, Others. Among these, the Orthopedics Surgery segment is expected to have the fastest-growing market during the forecast period 2022-2028.
Based on End User, the cannula market is segmented into Hospitals, Clinics, Ambulatory Surgery Centers, and Others. The hospitals segment accounts for the largest share in 2021. Clinics is the second-largest share during the forecast period 2021-2028 according to Precision Business Insights.
In May 2020, Medtronic announced the U.S. launch of Kyphon Assist Directional Cannula for balloon kyphoplasty. The market players are also focusing on market consolidation activities such as acquisitions and strategic partnerships which will help them to hold a dominant position in the market.