Cannula Market Size, Share & Trends Analysis Report By Product (Cardiac, Dermatology, Nasal), By Type (Neonatal Cannulae, Straight Cannulae, Winged Cannulae), By Material, By Size, By Region, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the cannula market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for cannula market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of cannula market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Cannula Market Categorization:

The cannula market was categorized into six segments, namely product (Cardiac, Dermatology, Nasal), type (Neonatal Cannulae, Straight Cannulae, Winged Cannulae, Wing With Port, Winged With Stop Cork), material (Plastic, Metal, Silicone), size (14G, 16G, 18G, 20G, 22G, 24G, 26G), end-use (Hospital, Ambulatory Surgical Centers), and region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

Segment Market Methodology:

The cannula market was segmented into product, type, material, size, end-use, and region. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The cannula market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-six countries, namely, the U.S.; Canada; the UK; Germany; France; Italy; Spain; Denmark; Norway; Sweden; India; Singapore; South Korea; China; Japan; India; Australia; Thailand; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Cannula market companies & financials:

The cannula market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Medtronic, formerly known as known as Medtronic, Inc., is a global leader in medical technology. The company operates in four segments-diabetes group, cardiac & vascular group, restorative therapies group, and minimally invasive therapies group and delivers a broad range of therapies, solutions, services, and medical technologies. It also provides therapies to treat chronic diseases

• Edward Lifesciences Corporation is a global leader in hemodynamic monitoring and science of heart valves. The company partners with clinicians to develop technologies in the areas of structural heart disease and critical care monitoring to help patients live longer and healthier. It operates in three main segments-critical care, surgical heart valve therapy, and transcatheter heart valve therapy.

• LivaNova is a global medical device company that designs, manufactures, and sells therapeutic solutions worldwide. The company operates in two segments-cardiac surgery and neuromodulation. The company through its cardiac surgery segment develops, produces, and sells cardiopulmonary products, including cannulas, oxygenators, and heart-lung machines. Through the neuromodulation segment, it designs, develops, and markets the Vagus Nerve Stimulation Therapy (VNS Therapy) system. The company serves physicians, neurologists, perfusionists, neurosurgeons, and hospitals

• TERUMO CORPORATION manufactures & distributes medical devices and provides related services worldwide. The company offers products used in medicine transfusion, cardiothoracic surgery, and interventional procedure. In addition, it manufactures and sells medical products such as blood bags, medical electronics, disposable medical devices, vascular grafts, cardiovascular systems, peritoneal dialysis systems, and blood glucose monitoring systems. Terumo operates in three main segments-cardiac and vascular, blood management, and general hospital.

• Teleflex is a global provider of medical technologies to improve people’s health and life. The company offers various products in the fields of respiratory care, emergency medicines, urology, cardiac care, anesthesia, surgery, and vascular & interventional access. Besides, it offers a wide range of devices and instruments, such as balloon sheath/dilator sets & kits, diagnostic & interventional catheters, sutures, and custom-engineered extrusions, to other medical manufacturers. Teleflex serves medical device manufacturers, hospitals, homecare markets, and healthcare providers. It sells products through a combination of its direct sales force and distributors.

• Smith’s Medical is a prominent manufacturer of specialty medical devices and provider of innovative solutions in the global healthcare market. The company operates in four segments-vascular access, specialty products and services, infusion therapy, and vital care. Its products are used during surgeries, in a series of home infusion therapies, post-operative care during recovery, and during critical & intensive care.

• Boston Scientific Corporation manufactures and markets medical solutions for urological, heart, vascular, chronic, & pulmonary diseases. The company operates in three segments-MedSurg, rhythm management, and cardiovascular. The company is primarily known for the development of TAXUS stents, drug-eluting stents used to open clogged arteries. Boston Scientific is dedicated toward transforming lives of people worldwide through innovative medical solutions. It develops, manufactures, and markets minimally invasive medical devices.

• BECTON, DICKINSON (BD) is one of the largest global medical technology companies that manufactures and sells instrument systems, medical devices, and reagents to hospitals, laboratories, life science researchers, and the general public. BD operates in two segments-BD Life Sciences and BD Medical. The BD Life Sciences segment includes diagnostic systems, preanalytical systems, and biosciences. Its BD Medical segment comprises pharmaceutical systems, diabetes care, medication & procedural solutions, and medication management solutions. The company is progressing the world of health by improving diagnostics, delivery of care, and medical discovery. It provides innovative solutions to enhance the diagnosis of cancer and infectious diseases, promote prevention against infection, support diabetes management, help advance genomics & medical research, and equip surgical & interventional procedures.

• CONMED is a global medical technology that develops and sells patient monitoring and surgical products. The company helps physicians deliver high-quality services to enhance clinical outcomes. It operates in two segments-orthopedic surgery and general surgery. The company’s products are used by healthcare professionals in the robotic & open surgery, laparoscopic, orthopedic, and other fields.

• Smith & Nephew PLC designs and develops wound management & surgical devices for trauma, orthopedic reconstruction, and sports medicine. The company supports healthcare professionals in more than 100 countries to improve the quality of life. It offers products through local representatives and distributors.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Cannula Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Cannula Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.