Middle East & Africa Cannula Market Size & Outlook
Related Markets
MEA cannula market highlights
- The MEA cannula market generated a revenue of USD 8.6 million in 2023.
- The market is expected to grow at a CAGR of 5.2% 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.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 8.6 million |
| Market revenue in 2030 | USD 12.3 million |
| Growth rate | 5.2% (CAGR from 2024 to 2030) |
| Largest segment | Cardiac |
| Fastest growing segment | Dermatology |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, MEA region accounted for 4.8% of the global cannula market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 55.3 million by 2030.
Cardiac was the largest segment with a revenue share of 46.51% in 2023. Horizon Databook has segmented the Middle East & Africa cannula market based on cardiac, dermatology, nasal covering the revenue growth of each sub-segment from 2018 to 2030.
Middle Eastern countries such as Saudi Arabia, Qatar, UAE, Kuwait, and Oman are prospering economies. In addition, there was an increase in spending on R&D from 2.2% in 2014 to 2.3% in 2016, which is anticipated to propel the market growth over the forecast period.
Increase in healthcare spending and rise in the number of hospitals in Gulf Cooperation Council (GCC) member states such as the UAE, Saudi Arabia, and Oman are expected to boost the market over the forecast period. According to the UAE Ministry of Health, government spending on healthcare was USD 10.9 billion in 2015. The region is technology-driven and market players are constantly striving to introduce modern techniques for diagnosis and treatment.
This may fuel the cannula market growth over the forecast period. There is a high disease burden in South Africa, as it has the highest HIV/AIDS prevalence rates. There is also an increase in non-communicable disease particularly diabetic, respiratory, cancers, and cardiovascular diseases due to the changing lifestyle of people.
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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 |
MEA cannula market size, by country, 2018-2030 (US$M)
Middle East & Africa Cannula Market Outlook Share, 2023 & 2030 (US$M)
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