India Cannula Market Shipment Analysis
India Cannula Market registered a growth of 11.33% in value shipments in 2022 as compared to 2021 and an increase of 2.22% CAGR in 2022 over a period of 2017. In Cannula Market India is becoming more competitive as the HHI index in 2022 was 1034 while in 2017 it was 1064. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on domestic production to meet its growing demand in Cannula Market.
India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Cannula Market in 2022 was 0.72 while in 2017 it was 0.97. USA, Netherlands, Singapore, China and Belgium were among the top players of the market in 2022, where USA acquired the largest market share of 19.19% with a shipment value of 57.21 million USD in 2022 USA also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Cannula Market. In 2017 USA had the largest market share of 20.18% with the shipment value of 47.36 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although USA offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the India Cannula Market in 2017.
