The Worldwide Arterial Cannula Industry is Projected to Reach $33.4 Billion by 2030: Rising Number of Surgical Procedures and Advancements in Minimally Invasive Surgeries Drives Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 30, 2022--
The “Arterial Cannula Market Size, Share & Trends Analysis Report By Application (ECMO, Cardiopulmonary Bypass Surgery), By Size (20-22 Fr, 35-36 Fr), By End-use (Hospitals, ASCs) By Region, And Segment Forecasts, 2023 - 2030” report has been added to ResearchAndMarkets.com’s offering.
The global arterial cannula market size is projected to reach USD 33.4 million by 2030, registering a CAGR of 7.2% over the forecast period.
An increase in the prevalence of chronic diseases is leading to a rise in surgical procedures, which is driving the growth of the industry. According to an article published by the National Library of Medicine in September 2020, an overwhelming 310 million major surgeries are performed each year; around 20 million in Europe and about 40 to 50 million in the USA.
Furthermore, advancements in minimally invasive surgeries are driving product demand. Minimally invasive techniques and cutting-edge technology give patients fast recovery time, less pain, and the best aesthetic results.
These advantages have resulted in the increasing adoption of minimally invasive techniques, which is leading to an increasing number of patients opting to undergo these surgical interventions. The COVID-19 pandemic resulted in a temporary fall in product sales.
This is due to the postponement of elective surgeries to avoid the spread of the virus and focus dedicatedly on combatting the COVID-19 virus. However, the market began to quickly recover in the second half of the pandemic with increasing efforts of healthcare professionals and different strategies led down at the micro as well as macro-economic levels.
The industry is further expected to experience significant demand over the forecast period with governments of various countries majorly focusing on healthcare to avoid similar situations in the future. Moreover, increasing investments in the healthcare sector are also expected to boost the overall industry growth over the forecast period.
Arterial Cannula Market Report Highlights
- The ECMO segment held the highest revenue share in 2022 owing to the increasing adoption of the arterial cannula for oxygenation
- The cardiopulmonary bypass surgery segment is projected to experience the fastest CAGR over the forecast period due to the increasing prevalence of cardiac diseases
- The 20-22 Fr size segment led the market, in terms of revenue share in 2022 as these are the most commonly used arterial cannulas
- The hospitals segment held the largest share in 2022 as the majority of surgical procedures are carried out in these settings
- The ASCs segment will register the fastest growth rate over the forecast period due to favorable reimbursement initiatives by various governments
- North America was the largest region in 2022 owing to a well-developed healthcare structure and a significant patient pool
- Asia Pacific is expected to be the fastest-growing region over the forecast period due to the high prevalence of chronic diseases and the increasing geriatric population
- Increasing prevalence of chronic diseases
- Increasing geriatric population
- Rise in number of surgical procedures
- Advancements in minimally invasive surgeries
- Lack of skilled professionals
- Product recalls
- Medtronic, plc.
- Livanova plc
- Edward Lifesciences
- Getinge Ab
- Fresenius Medical Care
- Nipro Corporation
- Freelife Medical GmbH
- Surgical Holdings
For more information about this report visit https://www.researchandmarkets.com/r/rrjmuh
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INDUSTRY KEYWORD: HEALTH GENERAL HEALTH
SOURCE: Research and Markets
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PUB: 12/30/2022 05:57 AM/DISC: 12/30/2022 05:57 AM