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Cannula is a hollow tube with a retractable, sharp inner core inserted into an artery or a vein, or another body cavity to draw off fluid or to introduce medication intravenously. Increasing number of surgeries and minimally invasive procedures coupled with rising patient pool and improving health care infrastructure and conditions in emerging economies are some of the major reasons driving the cannula market. Cannula market is segmented depending upon the types of cannula for diverse applications, sizes of the cannula and the material used for its manufacture. According to the types of cannula, the market has been segmented into six major segments which include:

  • Cardiac cannula
  • Vascular cannula
  • Arthroscopy cannula
  • Dermatology cannula
  • Nasal cannula
  • Others

Cardiac cannula accounts for the major share in the cannula market majorly due to high prevalence rate of cardiovascular diseases and large number of hospital admissions associated with cardiac conditions. According to the World Health Organization (WHO), cardiovascular diseases lead to maximum number of deaths globally accounting for approximately 17.5 million deaths in 2012, representing 31% of the deaths. Moreover, Heart Foundation, Australia stated that cardiovascular diseases is one of the major reasons for hospitalizations and resulted in 523,805 hospitalizations between 2011 - 2012 and played a secondary role in other 800,000 hospitalizations in Australia. High prevalence of cardiovascular diseases coupled with excessive hospitalizations and associated morbidity and mortality rate is leading to increased demand for cardiac cannula in intravenous drug delivery. 

On the basis of size of cannula the market has been differentiated as follows:

  • Orange (14G)
  • Grey (16G)
  • Green (18G)
  • Pink (20G)
  • Blue (22G)
  • Yellow (24G)
  • Violet (26G)

The variation of different colors decide the size of the cannula, for instance, orange color represents the cannula of 14G while Green and Blue represents cannula of sizes 18G and 22 G respectively. The usage of various size cannulae depends on the patient age and physique and the application of the cannula. The smaller the gauge of cannula, the larger is the diameter and the faster the flow of fluid. For instance, blue colored cannulae allows a fluid flow rate of 36 ml per minute and is usually preferred for infants and children because of their small size and for patients who have veins that are complicated to cannulate, including the cancer and elderly patients. These cannulae are majorly used to infuse antibiotics, normal saline and anti-coagulant medications, such as heparin. 

On the basis of material used for construction of cannula, the market has been categorized into three types which include:

  • Plastic
  • Metal
  • Silicone

Silicone material is expected to be the fastest growing segment in the cannula market. Non-irritant nature of material is the major factor which is leading to growth of the silicone cannula market. Additionally, this type of cannula is more flexible and soft, making its application more comfortable and manageable for the health care professional as well as patients.

Geographically, the cannula market has been differentiated into four segments: North America, Europe, Asia Pacific and Rest of the World. The major market players operating in cannula market include Boston Scientific Corporation, Teleflex Incorporated, Conmed Corporation, Sorin Group, Edward Lifescience Corporation, Medtronic plc, Terumo Corporation, Smith & Nephew plc, Smiths Medical, and Maquet Holding B.V. & Co. KG.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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