Canada Cannula Market Size & Outlook, 2023-2030
Canada cannula market, 2018-2030 (US$M)
Related Markets
Canada cannula market highlights
- The Canada cannula market generated a revenue of USD 10.3 million in 2023 and is expected to reach USD 15.8 million by 2030.
- The Canada market is expected to grow at a CAGR of 6.2% 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.
Cannula market data book summary
| Market revenue in 2023 | USD 10.3 million |
| Market revenue in 2030 | USD 15.8 million |
| Growth rate | 6.2% (CAGR from 2023 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, Canada accounted for 5.8% 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 North America, U.S. cannula market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 107.5 million by 2030.
Cardiac was the largest segment with a revenue share of 46.6% in 2023. Horizon Databook has segmented the Canada cannula market based on cardiac, dermatology, nasal covering the revenue growth of each sub-segment from 2018 to 2030.
The healthcare industry in Canada is growing due to increasing prevalence of chronic diseases and aging population. In 2016, total healthcare expenditure was approximately USD 171.77 billion. The large elderly population is responsible for increasing demand for healthcare services and rising spending on associated services.
Furthermore, increasing prevalence of chronic diseases, rising awareness about advanced technologies among patients, along with expectations regarding better healthcare facilities at affordable costs are anticipated to drive the growth of cannula market in Canada.
The elderly population is projected to increase at an annual rate of 3.8% in the coming years. Sales of products such as such as cardiovascular and neurological devices, which support the elderly, are expected to increase over the next five years. In addition, the Canadian government is investing in innovations such as data analytics, artificial intelligence, and precision medicine to improve patient health and reduce spending.
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Cannula Market Scope
Cannula Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada cannula market size, by product, 2018-2030 (US$M)
Canada Cannula Market Outlook Share, 2023 & 2030 (US$M)
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