Technavio Announces the Publication of its Research Report Global Cannulas Market 2016-2020
Technavio recognizes the following companies as the key players in the global cannulas market: Boston Scientific, Edward Lifesciences, MAQUET Holdings, Medtronic, Smith & Nephew, and Terumo.
Other Prominent Vendors in the market are: Ambler Surgical, Asico, Aspen Medical, B. Braun Melsungen, Bausch + Lomb, Becton, Dickinson and Company, Beacon Medical, Cannuflow, ConMed¸ DeVilbiss Healthcare, Fisher & Paykel Healthcare, Heyer Medical, Katalyst Surgical, Medin, Medline, Merz Aesthetics, Olympus, Salter Labs, Smiths Medical, Sorin, Sterimedix, Stryker, and Wilson Ophthalmic.
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Commenting on the report, an analyst from Technavios team said: Using online marketing strategies will be a key trend for market growth. Vendors are using online marketing and promotional strategies to offer better accessibility of their products to consumers and increase their product sales. Online marketing strategies also help vendors minimize setup, distribution, and operational costs. Many large and small vendors are selling cannulas online, which is of greater convenience for consumers. Emerging companies are also focusing on online marketing and direct delivery of cannula to consumers to increase their sales and market shares. Vendors also provide online discounts or promotional offers, which have further increased the online sales of cannulas. In addition, there are no time limitations for online cannulas compared with the ones available in medical stores. The products available online are also authentic and contain manufacturer’s warranty card.
According to the report, demand for single-use cannulas will be a key driver for market growth. The adoption of single-use cannula is high in hospitals and medical facilities due to their association with zero risk of contamination and infections. The safety and efficacy profiles of cannulas have led to smooth cannulation among people with chronic diseases. Most of the single-use cannulas are used during surgical procedures in the areas of cardiology, arthroscopy, gastroenterology (endoscopy), and ophthalmology. Single-use cannulas are cost-effective and have high compliance rate with better quality and safety. Advances in design, ergonomic features, and clear identification of sizes and shape have helped surgeons adopt surgical cannulas in almost all MI procedures.
Further, the report states that price wars among vendors will be a major challenge for the market. The market is highly fragmented, with the presence of many vendors that have significant revenue shares. Large players offer products that are almost similar in technologies, resulting in price wars worldwide, particularly in the US and Europe. In addition, the competition in the market is intense, with the presence of many regional and local players in emerging countries such as Brazil and China. Leading vendors dominate the market by providing a wide range of products, including a broad range of cannula kits. Small- and medium-sized companies focus on single product lines in particular geographies to gain market shares. To compete with global vendors, local players offer cost-effective products. This further increases the pricing pressure on vendors, negatively impacting their profit margins.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Cannulae is a flexible tube that is inserted into an artery or vein for different medical purposes such as the administration or removal of fluid from the body intravenously. The condition and medical purpose help determine the cannulas’ size ranging from 14 guage to 22 gauge with different color codes. The administration of fluid depends on the size of the gauge: smaller the gauge, larger the diameter and faster the flow of fluid.
Technavios analysts forecast the global cannulas market to grow at a CAGR of 6.73% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global cannulas market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of flow diversion aneurysm devices such as general and nasal cannulas.
The market is divided into the following segments based on geography:
Technavio’s report, Global Cannulas Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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