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).
Market- Trends
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 regarding 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.
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