NEW YORK, July 12, 2019 (GLOBE NEWSWIRE) -- The global cannula market is expected to grow significantly from USD 117.89 Million in 2018 to USD 202 Million in 2025, at a CAGR of 8.3% from 2019 to 2025. Factors driving the market growth are; growing demand for injectable drugs, rising infant mortality rates, and growing number of surgeries across the globe. In addition, rising aging population and increasing incidence of chronic diseases, growing number of offline and online distribution channels and adoption of minimally invasive surgeries is further propelling the industry growth.
Cannula is a hollow tube that can be inserted into the body, often for the delivery or removal of fluids. It has a fitting that can connect to more tubing or a port for medication, and is also used to obtain blood samples for testing. Cannula is available in the market in different sizes with colors coding.
Intravenous therapy is treatment that infuses intravenous solutions and medications directly into a vein. IV therapy is an effective and faster way to deliver medication treatment in emergency cases. Owing to the increasing use of IV therapy among patients, the deployment for cannula is growing at a rapid pace, exhibiting a positive impact on market growth. Moreover, increasing product development by major players such as the next-generation cannula, which is designed to minimize health risks associated with needle injuries, and also helps bring down the overall cost substantially. Furthermore, major players are also using different strategies such as investment in R&D, partnerships, new product development, and acquisitions. In addition, government initiatives to boost the healthcare sector in developing countries are further expected to propel the industry growth.
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Key findings from the report:
The report provides the market value for the base year 2018 and a yearly forecast till 2025 in terms of revenue (USD Million). The report segments cannula market on the basis of material, type, product, size, application, end-use, and region.
By Material
By type
By Product
By Size
By Application
By End-Use
By Region
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