Global Angiostomy Cannula Market, by Type (Cardiac Cannula, Vascular Cannula, Arthroscopy Cannula, Dermatology Cannula, Nasal Cannula, Floating Spinal Cannula, Vitreoretinal Cannula, and Hysterosalpingography Cannula), by Application (Cardiovascular Surgery, Oxygen Therapy, Orthopedic Surgery, Diabetes Treatment, Neurology, General Surgery, and Cosmetic/Plastic Surgery), by End User (Hospital, Ambulatory Surgical Centers, Blood Banks, and Home Healthcare Facilities), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
The approval of novel technologies by key regulatory authorities of respective countries can drive the growth of the global angiostomy cannula market over the forecast period. For instance, on May 19, 2023, Abbott, announced that the U.S. Food and Drug Administration (FDA) had approved the company's TactiFlex Ablation Catheter, Sensor Enabled, an ablation catheter with a flexible tip and contact force technology. Used to perform an ablation procedure to treat atrial fibrillation (AFib), the most common abnormal heart rhythm, the TactiFlex catheter can result in reduced procedure times and better safety.
Global Angiostomy Cannula Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a negative impact on the global angiostomy cannula market. This is because of the health care system was severely affected by things like surgeries being canceled, appointments being late, and long wait times reported during the COVID period. For instance, a study published in December 2021 in PubMed, a free search engine for biological databases and medical reports, found that the number of surgeries and other elective procedures in the U.S. dropped by 48% during the first lockdown compared to the same time period after the pandemic.This decline in surgical procedures notably impacted the demand for medical cannulas.
Global Angiostomy Cannula Market: Key Developments
Key players operating in the global angiostomy cannula market are focused on new product development to address demand for this market.
For instance, in May 2020, Medtronic, a U.S.-based medical device company, launched Kyphon Assist Directional Cannula to use with its balloon kyphoplasty (BKP) products that are used in treatment of vertebral compression fractures due to osteoporosis, cancer or benign lesions. The increasing number of product launches is expected to boost growth of the global angiostomy cannula market.
Browse 34 Market Data Tables and 40 Figures spread through 123 Pages and in-depth TOC on Global Angiostomy Cannula Market, by Type (Cardiac Cannula, Vascular Cannula, Arthroscopy Cannula, Dermatology Cannula, Nasal Cannula, Floating Spinal Cannula, Vitreoretinal Cannula, and Hysterosalpingography Cannula), by Application (Cardiovascular Surgery, Oxygen Therapy, Orthopedic Surgery, Diabetes Treatment, Neurology, General Surgery, and Cosmetic/Plastic Surgery), End User (Hospital, Ambulatory Surgical Centers, Blood Banks, and Home Healthcare facilities), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/angiostomy-cannula-market-4165
Key Takeaways of the Global Angiostomy Cannula Market :
- The global angiostomy cannula market is expected to exhibit a CAGR of 6.9% during the forecast period owing to product launches by key market players. For instance, on January 23, 2023, Bentley, a company focused on the endovascular treatment for aortic and peripheral vascular disease, announced the launch of the BeBack crossing catheter designed for the treatment of heavily calcified lesions. The device makes use of a steerable and in length adjustable Nitinol needle, which can be used for crossing and targeted re-entry purposes. A radiopaque marker indicates the direction in which the curved needle protrudes from the tip of the catheter. Multiple treatment options like antegrade, retrograde and crossover are possible with the BeBack crossing catheter for intraluminal and subintimal approaches of stenotic or occluded lesions.
- Among type, cardiac cannula segment is expected to grow in the global angiostomy cannula market over the forecast period. This is because portable ventilators can be moved to patient locations easily in case of an emergency. They are small in size hence easy to carry and have a good battery life. This increases the efficiency of ventilators and hence increases the demand. For instance, on May 16, 2023, Shockwave Medical Inc.- a cardiovascular medical device company, introduced its new coronary intravascular lithotripsy (IVL) catheter in Europe and select interntional markets. The Shockwave C²⁺ IVL catheter is intended for the treatment of severely calcified coronary artery disease.
- Among region, North America is expected to be the dominant region in the global angiostomy cannula market, owing to the rising prevalence of diseases like diabetes in the region. According to the Centers for Disease Control National’s (The national public health agency of the U.S.) Diabetes Statistics Report for 2022, 37.3 million people, or 11.3% of the U.S. population, have diabetes. An estimated 28.7 million people– or 28.5% of the populatio– had diagnosed diabetes. Approximately 8.5 million people have diabetes but have not yet been diagnosed.
- Major players operating in the global angiostomy 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.)
