Increasing incidence of respiratory diseases, technological advancements in high flow nasal cannulas, and growing demand for homecare are some of the major factors driving the growth of the global high flow nasal cannula market
NEWARK, Del., April 26, 2022 /PRNewswire/ -- The Global High Flow Nasal Cannula Market is expected to reach US$ 7.37 Bn in 2022, at a CAGR 11.6% to reach US$ 17.7 Bn by 2030. High flow nasal cannula sales currently account for 35.3% share in the global respiratory care devices market. Increased occurrences of respiratory illnesses, as well as technological improvements in high flow nasal cannula systems, are driving market expansion.
There has been a noteworthy increase in respiratory disorders in the last few years. As per GBD (Global Burden of Diseases) study 2017, the cases pertaining to pneumoconiosis and COPD increased from 81.1% and 49.8% respectively from 1990 to 2017, and the number is expected to witness exponentiation in the forecast period.
Moreover, research states that high flow nasal cannula oxygenation proves to be an effective mode of treatment for present day Covid-19 caused by acute respiratory failure over non-invasive positive pressure ventilation (NIPPV). As such, the global high flow nasal cannula market is expected to witness traction in the short-term as well as in the long run.
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Key Takeaways of High Flow Nasal Cannula Market Study
- Homecare settings to hold the largest market share in 2020 due to outbreak of Covid-19
- Sales through e-commerce channels witnessing a spike, as end-users show a marked preference for contactless delivery
- Single-use high flow nasal cannulas to replace reusable nasal cannulas in the forecast period due to increasing awareness regarding cross-contamination
High Flow Nasal Cannula Market: Competitive Landscape
The high flow nasal cannula market players are into the expansion mode regarding their portfolio to have a competitive edge over one another. They are also entering the inorganic growth mode to leave no stone unturned regarding their presence in the market.
For instance -
- Hamilton Medical AG, in Feb 2019, tabled "Nuflow single-use nasal cannulas" to facilitate high flow oxygen therapy for neonates. One could find these cannulas in 4 different sizes including a pair of fixation patches and an adapter
- Teijin holds the privilege of launching the first oxygen concentrator for Japan; i.e. "Mildsanso". As far as cardiovascular diseases are concerned, Teijin's Continuous Positive Airway Pressure (CPAP) devices holds over 40% of the overall market for Japan.
- Salter Labs have 15 LPM cannulas when there is more requirement of oxygen. ALOFT cannulas are meant for extra comfort, especially for the geriatric population
- OmniOx from MEK-ICS Co., Ltd. Enables delivery of optimal humidification and has an adjustable FiO2 with 21 ~ 100%
Smiths Medical has its pediatric divided CO2/O2 nasal cannula, adult oral/nasal CO2, pediatric O2 nasal cannula under its CO2 sample line
In Nov 2017, Teijin Pharma and SRETT agreed upon an exclusive distribution arrangement all over Japan for "TeleOx". This device monitors respiratory functions in oxygen therapy. It is designed by SRETT
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Key Companies Profiled
- CR BARD Inc.
- Fisher & Paykel Healthcare Limited
- Vapotherm Inc.
- Teleflex Incorporated
- Teijin Pharma Limited
- TNI Medical AG
- ResMed Corporation
- Smiths Medical
- MEK-ICS Co., Ltd.
- Hamilton Medical AG
- Flexicare Medical Limited (U. K.)
Key Segments of High Flow Nasal Cannula Industry Survey
High Flow Nasal Cannula Market by Component:
- Air/Oxygen Blenders
- Active Humidifiers
- Nasal Cannulas
- Heated Inspiratory Circuits
- Consumables
High Flow Nasal Cannula Market by Medical Application:
- Acute Respiratory Failure
- Chronic Obstructive Pulmonary Disease (COPD)
- Bronchiectasis
- Carbon Monoxide Toxicity
- Sleep Apnea
- Acute Heart Failure
High Flow Nasal Cannula Market by End User:
- Hospitals
- Specialty Clinics
- Long-term Care Centers
- Ambulatory Care Centers
- Homecare Settings
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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