Global Angiostomy Cannulas 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$ 136.5 million in 2020 and is expected to exhibit a CAGR of 6.9% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Global Angiostomy Cannulas Market - Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to more than 100 countries across the globe and the World Health Organization has declared it as a public health emergency. According to the World Health Organization’s report 2020, the current situation of coronavirus disease (COVID-19) across the world has resulted in more than 27.3 million infected individuals by first week of September 2020. The impact of this disease has strongly disrupted every industry across the world. The economic damage due to pandemic outbreak of corona virus is expected to impact in long term. Similarly, the impact of this disease is continue on medical device industry as well, which eventually impact on the growth of global angiostomy cannulas market.
The developing and middle income countries were already facing issues of weaker economic growth. Due to this crisis of Covid 19 disease now make the challenges to these economies to face harder. The healthcare system of these economies has put under huge burden to overcome this Covid-19 pandemic attack. The Covid 19 situation is still not under control and expected to become worse if the increasing growth of this disease will continue for longer period.
However, the increasing number of plastic surgeries across the globe is expected to drive growth of the global angiostomy cannula market. For instance, according to plastic surgery statistics report 2019 published by American Society of Plastic Surgeons, around 18.1 million cosmetic surgical procedures and 5.9 million reconstructive surgical procedures were performed in the U.S. in 2019. The report statistics show that 92% of the surgeries were performed in females and 8% of the surgeries in males. The total expenditure of cosmetic procedures in the U.S. accounted for US$ 16.7 billion in 2019. The adaptability of cosmetic surgeries is very high in the U.S. and the potential growth of surgical market is expected to contribute to significant growth of the angiostomy cannula market during the forecast period.
Browse 29 Market Data Tables and 25 Figures spread through 149 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), - Forecast to 2027"
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Moreover, 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 Plc. 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.
Key Takeaways of Global Angiostomy Cannula Market: