In the year 2018, Europe Cannula Market was valued at USD 39.16 Billion. By the year 2023, it is expected to reach USD 51.84 Billion at pace of 5.77% CAGR.
Cannula is a thin tube inserted into the veins of the human body or into the body cavity to introduce drugs, extract fluids or insert the surgical instrument. Cannula is known as the intravenous IV cannula generally surrounded by the trocar needle with the inner and outer surface, which allows the body to increase the length to obtain sufficient space.
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The growth for Cannula Market is driven due to factors like Increasing number of surgeries and minimally invasive procedures, growing prevalence of chronic diseases, rising geriatric population, and increasing healthcare expenditure. In addition, increasing demand for cannula in healthcare facilities, advancement of technologies in medical sector, and increasing investments for R&D activities are anticipated to drive the cannula market. However, stringent government policies are the major restraining factor which is expected to hinder the growth rate for Europe Cannula Market during the forecast period.
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Based on geography the Europe Cannula Market has been primarily divided into United Kingdom, France, Spain, Italy and Germany. Europe has the second largest market for Cannula Market due to rising number of surgical procedures and large number of patients is the driving factors in this region.
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Leading companies for Europe Cannula market are Medtronic plc (U.S.), Edward Lifesciences Corp. (U.S.), Terumo Corporation (Japan), Sorin Group (Italy), and Maquet Holding B.V. & Co. KG (Germany)
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