Albany, NY -- (SBWIRE) -- 05/17/2018 -- Cannula is a hollow tube with a retractable, sharp inner core inserted into an artery or a vein, or another body cavity, to administer intravenous fluids and medicines, and obtain blood samples. Cannula are available in different designs and configurations for ease of use which are dependent on the surgical technique or methods. During the cardiac surgery, venous cannula provides high flow in small spaces with minimal intrusion. Venous cannula is more compressed and dense than the standard cannula. Thus, it is easier to insert and remove, and improves the surgical view, especially during minimally invasive surgeries, as it reduces complications associated with minimally invasive surgeries.
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According to the World Health Organization (WHO), cardiovascular diseases lead to maximum number of deaths across the globe (approximately 17.5 million deaths (31%) in 2012). Moreover, The Heart Foundation (Australia) stated that cardiovascular disease is one of the major reasons for hospitalizations. It resulted in 523,805 hospitalizations between 2011 and 2012 and played a secondary role in 800,000 other hospitalizations in Australia. High prevalence of cardiovascular diseases coupled with excessive hospitalizations and associated morbidity and mortality rate is boosting the demand for cardiac cannula in intravenous drug delivery. According to the American Heart Association, 6.1% of people in Asian suffer from heart diseases, 3.7% have coronary heart disease, 21.0% suffer from hypertension, and 1.9% have had a stroke. In 2011, 17,050 deaths among Asia Pacific ere due to cardiovascular diseases; 7,828 due to coronary heart disease; and 2,476 due to myocardial infarction.
The venous cannula market can be segmented based on product type, end-user, and geography. In terms of product type, the venous cannula market can be divided into thin-flex triple stage venous cannula, trim-flex venous cannula, and single stage venous cannula. Based on end-user, the venous cannula market can be divided into hospitals, diagnostic centers, clinics, research and academic centers, and others.
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Geographically, the venous cannula market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In terms of revenue, North America is expected to be the major region of the market due to the increase in demand for minimally invasive surgical procedures and introduction of technologically advanced products by market players. Europe is also anticipated to account for key share of the market owing to the increase in prevalence of cardiovascular diseases. According to the European Heart Network, cardiovascular disease (CVD) causes 3.9 million deaths in Europe and more than 1.8 million deaths in the European Union (EU) each year. Cardiovascular disease accounted for 45% of all deaths in Europe and 37% of all deaths in the European Union. In 2015, Europe had just under 11.3 million new cases of cardiovascular diseases, while the European Union constituted 6.1 million new cases of cardiovascular diseases. The venous cannula market in Asia Pacific is estimated to expand at a higher CAGR during the forecast period due to the increase in prevalence of cardiovascular diseases in the region. According to the Organisation for Economic Co-operation and Development, cardiovascular disease is the leading cause of death in Asia Pacific. Cardiovascular disease was the cause of an estimated 9.3 million deaths in the region and accounted for about one-third of all deaths in 2012. The venous cannula market in Latin America is projected to expand due to the new government initiatives promoting and accelerating the healthcare infrastructure in the region. The market in Middle East & Africa is likely to expand due to the increase in disposable income and establishment/expansion of Western companies (North America and Europe) in the region.
Prominent players operating in the venous cannula market include AngioDynamics, Boston Scientific Corporation, OriGen Biomedical, Edwards Lifesciences Corporation, Teleflex Incorporated, Medtronic, Sorin Group, TERUMO CORPORATION, Smith & Nephew plc, and MAQUET Holding B.V. & Co. KG.
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