[228 + Pages Report] According to a market research study published by Zion Market Research, the demand analysis of Global High-flow Nasal Cannula Market size & share revenue was valued at around USD 7.45 billion in 2022 and is estimated to grow about USD 18.65 billion by 2030, at a CAGR of approximately 12.18% between 2023 and 2030. The key market players are listed in the report with their sales, revenues and strategies are Teleflex Incorporated, Fisher & Paykel Healthcare, Becton, Dickinson and Company (BD), Vapotherm, Drive DeVilbiss Healthcare, ResMed, Flexicare Medical Limited, Hamilton Medical, Invacare Corporation, Salter Labs, Precision Medical Inc., Besmed Health Business Corp., Smiths Medical, Great Group Medical Co. Ltd., Inogen Inc., and others.
New York, NY, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “High-Flow Nasal Cannula Market By End-User (Long-Term Care Centers, Hospitals, Ambulatory Care Services, And Others), By Application (Carbon Monoxide Toxicity, Acute Respiratory Failure, Bronchiectasis, Chronic Obstructive Pulmonary Disease (COPD), Sleep Apnea, And Others), By Component (Nasal Cannulas, Air Humidifiers, Single Heated Tubes, Air/Oxygen Blenders, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global High-flow Nasal Cannula Market size & share in terms of revenue was valued at USD 7.45 billion in 2022 and it is expected to surpass around USD 18.65 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 12.18% during the forecast period 2023 to 2030.”
What is High-flow Nasal Cannula? How big is the High-flow Nasal Cannula Industry?
Report Overview:
The global high-flow nasal cannula market size was worth around USD 7.45 billion in 2022 and is predicted to grow to around USD 18.65 billion by 2030 with a compound annual growth rate (CAGR) of roughly 12.18% between 2023 and 2030.
A medical equipment known as a high-flow nasal cannula is utilized in order to facilitate heated humidified high-flow therapy, which is more commonly referred to simply as high-flow therapy. The cannula is a component of a respiratory support system that is utilized in the process of providing patients who are afflicted with respiratory ailments with a steady flow of therapeutic gas through the system. The high-flow nasal cannula's most notable quality is that it facilitates the delivery of sixty liters of therapeutic gas per minute in addition to one hundred percent oxygen. The nasal cannula that is used traditionally for medical gas delivery systems and is able to supply 1-6 liters per minute of medical gas has been partially replaced by the high-flow nasal cannula, which has helped to facilitate this replacement.
Patients who are suffering from respiratory disorders that are either life-threatening or serious can have their medical demands covered by the device because it enables high flow. Patients who are breathing on their own but are experiencing respiratory obstruction or failure as a result of illnesses such as bronchiolitis, acute exacerbations of chronic obstructive pulmonary disease (COPD), congestive heart failure, asthma, pneumonia, and several other conditions are often the ones who benefit from this treatment. As the number of people who require medical treatment around the world continues to rise, the market for high-flow nasal cannulas is expanding at a breakneck speed. It is anticipated that there will be a continued increase in the demand for high-performance high-flow nasal cannulas over the course of the period covered by the forecast.
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Global High-flow Nasal Cannula Market: Growth Factors
Market expansion will be driven by an increase in the number of patients reporting acute exacerbations of COPD.
It is anticipated that the global market for high-flow nasal cannula will expand as a result of an increase in the number of patients suffering from acute exacerbations of COPD. This disorder is a long-term inflammatory lung disease that can cause the outflow of air from the lungs to become restricted. Excessive exposure to irritating gasses or particulate matter, like that which is found in cigarette smoke, is one of the primary contributors to the development of COPD in a patient. Mucus production, coughing, wheezing, and difficulty breathing are some of the associated symptoms. According to the findings of many research, those who have COPD are at an increased risk of developing lung cancer, more serious forms of heart disease, and other life-threatening disorders. More than 3.23 million people are said to have passed away as a direct result of having chronic obstructive pulmonary disease, as stated in the figures that were published by the World Health Organization (WHO). It is regarded as the third most important factor in causing death across the entire world. The term "acute exacerbations" refers to the rapid deterioration of COPD symptoms that can lead to considerable difficulties breathing. Alterations in the meteorological conditions, respiratory infections, and resistance to medical treatment are some of the factors that have been identified as potential causes for the abrupt increase. When this occurs, the high-flow nasal cannula is the primary treatment method that is implemented since it provides an important amount of oxygen until the symptoms are cured.
The rising levels of air pollution around the world will drive up demand.
Air pollution is a problem that affects the entire world. It is a concern for the health of the general population because rising levels of fine particulate matter in the air combined with the release of harmful gasses can trigger exciting respiratory conditions in patients while also inducing breathing issues in newborns or people who have no previous history of having issues with their breathing. People who breathe in air that has been polluted, for example, put their health at risk since the air is of low quality and does not contain adequate amounts of oxygen. This can lead to a variety of major health problems. In the event that air pollution keeps getting worse, the size of the worldwide high-flow nasal cannula market is expected to expand.
High-flow Nasal Cannula Market: Factors That Are Holding It Back
Because of the high cost of equipment and subsequent therapy, market expansion will be restricted.
A high-flow nasal cannula comes at a significant financial investment. For instance, the price of a typical high-flow nasal cannula begins at around $2,000 and can go higher depending on the functionality and other characteristics of the device. In addition to this, a study that was released by the National Institute of Health (NIH) showed that the anticipated cost of using a high-flow nasal cannula in the United States was somewhere in the neighborhood of USD 368 per patient. In addition, the total cost of treatment is significantly greater than originally estimated due to the inclusion of additional charges that are linked with the process, such as the cost of staying in the hospital, having insurance coverage, receiving complementary medical treatments, and paying for various other fees. It is expected that the expansion of the high-flow nasal cannula sector will be hampered by the high cost of both the equipment and the treatment as a whole.
Opportunities Available in the High-flow Nasal Cannula Market
The increasing availability of cutting-edge high-flow nasal cannulas is expected to generate more opportunities for growth.
Since the impact of COVID-19, more efforts have been made into the development of superior-performance high-flow nasal cannulas that fulfill the needs of patients as well as the expectations placed on medicine. This has resulted in a welcome increase in the number of sophisticated alternatives that are currently available on the market. For instance, the Intersurgical i-floTM high flow nasal cannula that was designed by Intersurgical, a provider of complete respiratory systems, places an emphasis on the task at hand as well as the patient's level of comfort. It is an adult single-use patient interface that comes with a variety of features that are exclusive to themselves.
Increasing spending on healthcare around the world to provide more hospitals and clinics with access to high-flow nasal cannulas.
A jump in global healthcare expenditures has been caused by an increase in the number of patients as well as an increase in the demand for equal access to medical care. These costs have been absorbed by regional governments as well as private healthcare corporations. The need for high-flow nasal cannulas is expected to be a driving force behind the expansion of the global market in the years to come, thanks to the rise in the number of new medical facilities being constructed all over the world.
The Challenges Facing the High-flow Nasal Cannula Market
Due to the stringent guidelines, effective resource management is required to create growth challenges.
The industry of high-flow nasal cannulas is subject to stringent guidelines and regulatory procedures, which can vary significantly depending on where in the world you are. There is no room for error with these gadgets because they are essential to the health of the patient. Companies that are active in this area may face difficulties if they are unable to effectively manage essential resources such as time and money while also conforming to ever-changing compliance regulations.
Teleflex Incorporated, Fisher & Paykel Healthcare, Becton, Dickinson and Company (BD), Vapotherm, Drive DeVilbiss Healthcare, ResMed, Flexicare Medical Limited, Hamilton Medical, Invacare Corporation, Salter Labs, Precision Medical Inc., Besmed Health Business Corp., Smiths Medical, Great Group Medical Co. Ltd., Inogen Inc., and others.
Key Segment
By End-User, By Application, By Component, and By Region
Major Regions Covered
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
The market for high-flow nasal cannulas around the world may be broken down into four different categories: end-user, application, component, and geography.
Long-term care centers, hospitals, ambulatory care services, and other types of medical facilities are the end-user categories that are used to segment the global market. The hospital sector experienced the most expansion in 2022 due to the fact that hospitals are often regarded as the primary site of initial care for any and all medical disorders. They are prepared to deal with severe cases of respiratory problems because to their high-quality equipment. Increasing expenditures in healthcare facilities may result in stronger market segmentation growth. Around 697 public hospitals might be found across Australia in the year 2021.
Carbon monoxide toxicity, acute respiratory failure, bronchiectasis, chronic obstructive pulmonary disease (COPD), sleep apnea, and other conditions are some of the applications that have led to the segmentation of the high-flow nasal cannula sector into several subcategories.
On the basis of the component, the global market may be broken down into nasal cannulas, air humidifiers, single-heated tubes, air/oxygen blenders, and other categories. As of 2022, the nasal cannulas segment accounted for more than 60.1% of the total market. This was mostly due to the increasing number of patients who were diagnosed with respiratory disorders. During the time covered by the projections, important segmental drivers could include the increasing prevalence of asthma and COPD.
The global High-flow Nasal Cannula market is segmented as follows:
Browse the full “High-Flow Nasal Cannula Market By End-User (Long-Term Care Centers, Hospitals, Ambulatory Care Services, And Others), By Application (Carbon Monoxide Toxicity, Acute Respiratory Failure, Bronchiectasis, Chronic Obstructive Pulmonary Disease (COPD), Sleep Apnea, And Others), By Component (Nasal Cannulas, Air Humidifiers, Single Heated Tubes, Air/Oxygen Blenders, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" Report At https://www.zionmarketresearch.com/report/high-flow-nasal-cannula-market
Competitive Landscape
Some of the main competitors dominating the global High-flow Nasal Cannula market include -
Teleflex Incorporated
Fisher & Paykel Healthcare
Becton
Dickinson and Company (BD)
Vapotherm
Drive DeVilbiss Healthcare
ResMed
Flexicare Medical Limited
Hamilton Medical
Invacare Corporation
Salter Labs
Precision Medical Inc.
Besmed Health Business Corp.
Smiths Medical
Great Group Medical Co. Ltd.
Inogen Inc.
Key Insights from Primary Research:
According to the analysis shared by our research forecaster, the High-flow Nasal Cannula market is likely to expand at a CAGR of around 12.18% during the forecast period (2023-2030).
In terms of revenue, the High-flow Nasal Cannula market size was valued at around US$ 7.45 billion in 2022 and is projected to reach US$ 18.65 billion by 2030.
The high-flow nasal cannula market is projected to grow at a significant rate due to the rising number of patients reporting acute exacerbations of COPD.
Based on end-user segmentation, hospitals was predicted to show maximum market share in the year 2022.
Based on component segmentation, nasal cannulas was the leading segment in 2022.
On the basis of region, North America was the leading revenue generator in 2022.
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Regional Analysis:
North America to register higher growth during the assessment timeframe
The global high-flow nasal cannula market is expected to be led by North America by 2030. In 2022, the region generated over 50% of the global sales. Factors such as the presence of a robust medical infrastructure, the existence of key medical device manufacturers and suppliers, and increasing demand for non-invasive medical treatments for respiratory conditions contribute to regional dominance. In February 2021, Masimo, a US-based global medical technology company, announced the US launch of softFlow®. It is a novel pulmonary care therapy using a high-flow nasal cannula. North America was one of the most significantly impacted regions during COVID-19 prompting official authorities to take serious actions toward preventing such incidents in the future. Asia-Pacific is expected to grow at a steady pace. Increasing healthcare expenditure, rising air pollution rate, and growing investments in the development of new medical centers to meet the needs of the surging population could act as main regional growth drivers.
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