Market Trends of Global Medical Cannula Industry
This section covers the major market trends shaping the Medical Cannula Market according to our research experts:
Nasal Cannula Segment is Expected to Witness a Significant Growth in the Market Over the Forecast Period
A nasal cannula is a device that helps people who need help breathing by giving them extra oxygen or more airflow through their nose. This device is made up of a lightweight tube that splits at one end into two prongs that are put in the nostrils and through which a mixture of air and oxygen flows. The nasal cannula can be used for short or long periods of time and is available for people of all ages. It lets you breathe through your mouth or nose. The number of people who need nasal cannulas is going up because more people are getting respiratory diseases and going to the hospital because of injuries or heart problems. For instance, according to the Asthma and Allergy Foundation of America (AAFA), in April 2022, roughly 1 in 13 Americans had asthma, which is about 25 million people. As per the same source, about 5 million American children have asthma.
Also, the December 2021 article in PubMed said that high-flow oxygen therapy given through a nasal cannula (HFNC) helps with breathing by keeping the airways moist enough and has been shown to be safe and helpful in clinical practice. Thus, the growing utilization of nasal cannulas in respiratory support is contributing to the increasing demand for high-flow nasal cannulas, leading to market growth over the forecast period. Similarly, as per the article published in December 2022 in the BMC journal, while using a high-flow nasal cannula (HFNC) as first-line ventilatory support was associated with a decreased incidence of intubation in critically ill COVID-19 patients, more than half of patients had HFNC failure.
Thus, because more people are using nasal cannulas to help with breathing and more people are getting respiratory diseases, the studied segment is expected to grow in a healthy way over the next few years.
North America Anticipated to Hold a Significant Share in the Market Over the Forecast Period
North America is one of the significant contributors to the studied market owing to the rise in surgeries and minimally invasive procedures, growing cases of injuries, increasing bariatric surgeries, and increasing hospital admissions in the region. For example, the US Bureau of Labor Statistics says that in 2021, there were 2,607,900 injuries that did not lead to death in private industries in the US.Because of this, more injuries are likely to need surgery, which will increase the need for cannulas.
Moreover, the amount of fluid extravasation into soft tissues is reduced with arthroscopic cannulas. Thus, these cannulas are used during orthopedic surgeries. Hence, the increasing number of orthopedic surgical procedures in the countries of the region is projected to drive market growth over the analysis period. For instance, as per the report of the Canadian Institute of Health Information (CIHI) published in June 2021, 63,496 hip replacements and 75,073 knee replacements were performed in Canada in the period 2019-2020. Also, as per the source above, there has been an average increase of about 5% in recent years in knee and hip replacement procedures in the country. Thus, a rise in surgery cases is likely to spur adoption of medical cannulas, which will thereby drive market growth over the forecast period.
Since more cannulas are being used to treat injuries and more surgeries are being done, North America is expected to grow at a healthy rate over the next few years.
