ANGIOSTOMY CANNULA MARKET ANALYSIS

The global angiostosmy cannula market is estimated to be valued at US$ 176.8 Mn in 2023 and is expected to exhibit a CAGR of 6.9% during the forecast period (2023-2030).

Analysts’ Views on Global Angiostosmy Cannula Market :

Increasing number of product approvals from regulatory agencies of respective countries are expected to boost the growth of the global angiostosmy cannula market over the forecast period. For instance, in April 2021, BD, a global medical technology company, announced that it had received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the Pristine Long-Term Hemodialysis Catheter, a new hemodialysis catheter with a unique side-hole free symmetric Y-Tip distal lumen design. The Pristine Catheter was made available in the U.S. in May 2021.

Figure 1. Global Angiostosmy Cannula Market Share (%), by Product Type, 2023

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Global Angiostosmy Cannula Market– Driver

Increasing product approvals

The growing incidences of product approvals are a major factor leading to the high demand for angiostomy cannulas. For instance, on April 3, 2023, Anika Therapeutics, Inc.,  a global joint preservation company focused on early intervention orthopedics, announced that it had received an additional 510(k) clearance from US FDA for Tactoset Injectable Bone Substitute. Tactoset is an injectable, settable, calcium phosphate-based bone graft substitute that incorporates Anika Therapeutics, Inc.’s core hyaluronic acid (HA) technology. The HA component of Tactoset makes the product highly flowable, easily injectable, and able to interdigitate into trabecular bone architecture with improved handling characteristics compared to competitive products. Once injected, Tactoset hardens and mimics the properties of normal trabecular bone initially before remodeling into healthy bone over time.

Introduction of newer products rearding angiostomy cannula market

The increasing product launches to invent newer, technologically advanced cannulas  can drive the growth of the global angiostosmy cannula market. For instance, in August 2020, 3B Medical, a medical device company, introduced the Freedom X oxygen nasal cannula, intended to address nose irritation, which is a common complaint from oxygen patients.

Figure 2. Global Angiostosmy Cannula Market Value (US$ Million), by Region, 2023

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Global Angiostosmy Cannula Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global angiostosmy cannula market over the forecast period. This is due to the increasing prevalence of cardiovascular disorders around the world. For instance, according to the data shared by American Heart Association, Inc, a U.S.-based, voluntary organization dedicated to fighting heart disease and stroke, cardiovascular disease (CVD) remained the leading cause of death in the U.S. and accounted for 928,741 deaths in the year 2020.            

Global Angiostosmy Cannula Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

The COVID-19 pandemic had a negative impact on the global angiostosmy cannula market. This occurred due to a delay in cadiac surgeries across the world. According to a study published by PubMed, a free search engine for biological databases and medical reports, in Poland, in the first year of the COVID-19 pandemic, the number of cardiac procedures was reduced by 37%. The greatest decrease was observed during the peak of the pandemic. During the pandemic, patients waited 22 days longer for surgery, and had a higher surgical risk.

Global Angiostosmy Cannula Market Segmentation:

The global angiostomy cannula market report is segmented into Product Type, Application, End User and Region.

Based on Type, the global angiostomy cannula market is segmented into cardiac cannula, vascular cannula, arthroscopy cannula, dermatology cannula, nasal cannula, floating spinal cannula, vitreoretinal cannula, and hysterosalpingography cannula. Out of which, the cardiac cannula segment is expected to dominate the market. This is because cardiac cannulas are easy to transport and easy to use.

Based on Application, the global angiostomy cannula market is segmented into cardiovascular surgery, oxygen therapy, orthopedic surgery, diabetes treatment, neurology, general surgery, and cosmetic/plastic surgery. The cardiovascular surgery segment is expected to dominate the market over the forecast period and this is attributed to increasing prevalence of cardiovascular diseases like ischemic heart diseases around the world.

Based on End user, the global angiostomy cannula market is segmented into hospitals, ambulatory surgical centers, blood banks, and home healthcare facilities. The hospital segment is expected to dominate the market over the forecast period and this is due to the increasing hospitalizations for the treatment of trauma cases requiring major surgeries.

Based on Region, the global angiostomy cannula market is segmented North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The North America segment is expected to dominate the market over the forecast period and this is due to the increasing r&d activities occurring in the region.

Among all the segmentations, the product type segment has the highest potential due to the increasing number of product launches across the world over the forecast period. For instance, in June 2022, DORC, a company focused on enhancing global eye surgery by offering innovative quality approaches for eye disorders, launched Eva Nexus, an integrated system with retina, cataract, and combined surgery capabilities. The platform’s features are aimed at improving surgical performance and efficiency, and include SmartIOP, the Eva Aveta trocar cannula system, and Eva Inicio, an FDA 510(k)–cleared microinjection system.

Global Angiostosmy Cannula Market Cross Sectional Analysis:

Among type, cardiac cannula segment is expected to dominate the market in North America region. This is owing to the numerous novel medical device development activities in the region.  For instance, in November 2022, Edwards Lifesciences Corporation, a U.S.-based medical technology company, announced that one-year results from the TRISCEND study demonstrated favorable outcomes. TRISCEND, a single-arm, prospective, global, multi-center study, evaluates the Edwards Lifesciences Corporation’s Evoque system. Evoque, a transcatheter tricuspid valve replacement system, demonstrated favorable safety, efficacy and quality-of-life outcomes.

Global Angiostosmy Cannula Market : Key Developments

 In August 2020, Nocca Robotics Pvt Ltd., an incubate company at IIT Kanpur, India, launched a High-Flow Oxygen Therapy Device, Noccarc H210. The HFOT (High-Flow Oxygen Therapy Device) provides humidified oxygen-rich air to the patients through a nasal cannula, thus increasing the oxygen level supplied to the blood. HFOT provides easy oral suctioning and expectoration. The heated and humidified gas also enhances epithelial muco-ciliary, thus lowering the risk of respiratory complications, such as pneumonia and delirium. The use of cannula in the HFOT makes it easy for the patient to communicate with the healthcare professionals and reduces the risk of tomophobia to the patient caused due to intubation.

In October 2022, the developers of a cannula for minimally-invasive central aortic perfusion-MIC-Cannula, received the European Association for Cardio-Thoracic Surgery (EACTS) Techno-College Innovation Award 2022. The device allows antegrade perfusion in a minimally invasive setting.

In June 2022, Prollenium Medical Technologies, a Canada-based company focused exclusively on the research and manufacturing of dermal fillers, announced that it had acquired SofFil- a developer of medicl cannulas for expansion of its product portfolio.

In February 2022, Gilde Healthcare, a specialist healthcare investor, acquired EUROPIN, a an international developer and manufacturer of customized pen cannulas and lancet needles for diabetic use. The acquisition helps Gilde Healthcare to form an integrated contract manufacturer for tailor-made cannulas and cannula systems.

Global Angiostosmy Cannula Market: Key Trends

Key players around the world are enaging in inorganic strategies like mergers and acquisitions to help propel the rowth of the global angiostomy cannula market. For instance, in January 2022, ICU Medical Inc., a company focused on providing IV therapy, announced that it had completed its acquisition of Smiths Medical from Smiths Group plc. The Smiths Medical business includes syringe and ambulatory infusion devices, vascular access, and vital care products. The acquisition was made to expand  ICU Medical Inc.’s product portfolio.

In June 2021, Bidibots Pty Ltd, an Australia-based company focusing on providing quality paediatric and neonatal products into hospitals for the improvement of quality of care for our most vunerable children, developed the Bidibot, a new nasal cannula designed to sit comfortably on a baby’s face, overcoming the common risks associated with regular cannulas.

Global Angiostosmy Cannula Market: Restraint

Product Recalls

The faults in manufacturing and production of medical devices can restrain the growth of the global angiostomy cannula market. For instance, in May 2021, BD, announced a voluntary recalling of all ethylene oxide (EtO) sterilised BD Venflon Pro Safety (VPS) and Venflon Pro IV Cannulae after identifying leakages from the injection port.

This restrain can be overcome by the introduction Good Manufacturing Practices (GMP) and observing a strict compliance with regulatory protocols.

Mechanical complications during minimally invasive cardiac surgery

Arterial cannulation can be associated with bleeding, cannula malposition causing selective cerebral perfusion, plaque dislodgement, and dissection. Dissection presents as low arterial pressure, high arterial line pressure, loss of venous return, and bluish discolouration of the vessel. Venous cannulation can be associated with bleeding, cannula malposition/air lock causing an inadequate return, leading to cerebral, splanchnic congestion or massive air embolisms. This  can restrain the growth of the global angiostomy cannula market.

Cessation of the pump and commencing retrograde cerebral perfusion can be used as a treatment, acting as a counterbalance against the given restraint.

Global Angiostosmy Cannula Market- Key Players

Major players operating in the global angiostosmy cannula market include Smith+Nephew, Maquet Holding B.V. & Co. KG. (A subsidiary of Getinge), LivaNova PLC (Formed from the merger of Sorin group and Cyberonics, Inc.), Edwards Lifesciences Corporation, Medtronic, Merck & Co., Inc., Terumo Corporation, Medline Industries, LP, Cardinal Health, Boston Scientific Corporation, Teleflex Incorporated, Dolphin surgical industries, Goodhealth Inc., and BioTek Instruments, Inc. (A subsidiary of Agilent Technologies, Inc.)

Global Angiostosmy Cannula Market– Definition

A cannula is a tube that can be inserted into the body, often for the delivery or removal of fluid or for the gathering of samples. A cannula can surround the inner or outer surfaces of a trocar needle thus extending the effective needle length by at least half the length of the original needle. Angiostomy is a medical procedure whereby surgical balloons and plastic cannulas are used to open up a blocked artery. These cannulas need to be made of neutral material so as to not elicit inflammation from blood cells.