China Cannula Market Size & Outlook, 2024-2030
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China cannula market highlights
- The China cannula market generated a revenue of USD 11.8 million in 2023 and is expected to reach USD 19.9 million by 2030.
- The China market is expected to grow at a CAGR of 7.7% from 2024 to 2030.
- In terms of segment, cardiac was the largest revenue generating product in 2023.
- Dermatology is the most lucrative product segment registering the fastest growth during the forecast period.
Cannula market data book summary
| Market revenue in 2023 | USD 11.8 million |
| Market revenue in 2030 | USD 19.9 million |
| Growth rate | 7.7% (CAGR from 2024 to 2030) |
| Largest segment | Cardiac |
| Fastest growing segment | Dermatology |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Cardiac, Dermatology, Nasal |
| Key market players worldwide | Medtronic PLC, Becton Dickinson & Co, Edwards Lifesciences Corp, LivaNova PLC, Smiths Group PLC, Boston Scientific Corp |
Other key industry trends
- In terms of revenue, China accounted for 6.6% of the global cannula market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China cannula market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 9.0 million by 2030.
Cardiac was the largest segment with a revenue share of 46.61% in 2023. Horizon Databook has segmented the China cannula market based on cardiac, dermatology, nasal covering the revenue growth of each sub-segment from 2018 to 2030.
The country is expected to witness the highest growth in Asia Pacific region over the forecast period owing to huge unmet needs of the huge population in the country. In addition, healthcare reforms in China are expected to drive the market in the near future. China is one of the fastest-growing economies in the world and it was the world's second largest medical devices market in 2017.
Moreover, increasing focus of the government on increasing the number of hospitals and rising healthcare expenditure in the country are expected to propel the demand for cannulas over the forecast period. For instance, as per International Trade Administration (ITA), in 2016, the number of hospitals in China was nearly 27,360 (23,900 public & 3,460 private). In addition, the total healthcare expenditure in the country was USD 663.0 billion, which accounted for 6.0% of China’s GDP.
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Cannula Market Scope
Cannula Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| LivaNova PLC | View profile | 2900 | 20 Eastbourne Terrace, London, United Kingdom, W2 6LG | https://www.livanova.com |
| Edwards Lifesciences Corp | View profile | 19800 | One Edwards Way, Irvine, CA, United States, 92614 | https://www.edwards.com |
| Smiths Group PLC | View profile | 15000 | 11-12 St James’s Square, 4th Floor, London, United Kingdom, SW1Y 4LB | https://www.smiths.com |
| Boston Scientific Corp | View profile | 48000 | 300 Boston Scientific Way, Marlborough, MA, United States, 01752-1234 | https://www.bostonscientific.com |
| Medtronic PLC | View profile | 95000 | Lower Hatch Street, 20 On Hatch, Dublin, Ireland, 2 | https://www.medtronic.com |
| Becton Dickinson & Co | View profile | 73000 | 1 Becton Drive, Franklin Lakes, NJ, United States, 07417-1880 | https://www.bd.com |
China cannula market size, by product, 2018-2030 (US$M)
China Cannula Market Outlook Share, 2023 & 2030 (US$M)
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