Nasal Cannula Market: Growth Projections, Trends, and Analysis 2024-2031

Market Size

The Nasal Cannula Market was valued at US$ 6,387.61 million in 2023 and is projected to reach US$ 10,085.39 million by 2031, expanding at a Compound Annual Growth Rate (CAGR) of 5.84% during the forecast period from 2024 to 2031.

A nasal cannula is a medical device that delivers high airflow or supplemental oxygen to patients with respiratory disorders. This device enhances oxygenation and provides improved ventilation. It comprises a tube that bifurcates into two prongs at one end, from which the oxygen flows.

The Nasal Cannula Market study provides a comprehensive outlook on the market, encompassing both quantitative and qualitative data. It offers a forecast of the global market based on market segmentation. The study also provides the global Nasal Cannula Market size and growth, along with the latest trends, opportunities, and forecast until 2029 for the global market with respect to major countries such as the United States, Canada, Brazil, Germany, Italy, Spain, United Kingdom, Russia, European countries, United Arab Emirates, Saudi Arabia, South Africa, Japan, China, India, South Korea, Australia, and the rest of the world.

Among all regions, the North American region is expected to hold the largest share of the global market over the forecast period. The Nasal Cannula Market in the United States and Canada contributes the highest share. Meanwhile, the European Nasal Cannula Market is projected to maintain its global presence during the period of 2024-2031.

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Nasal Cannula Market Trends

The growth of the Nasal Cannula Market is primarily driven by increasing investments in research and development and advancements in technology.

The market is propelled by various factors such as technological advancements, a rise in the geriatric population, an increase in research and development investments, a growing number of respiratory disorders like asthma and COPD, and improvements in novel products using the latest technology. Additionally, enhancements in medical infrastructure in emerging markets also contribute to the market's growth.

Nasal cannulas, which provide supplemental oxygen to patients with breathing disorders, have seen increased demand due to the COVID-19 pandemic. In response, various government initiatives and funds have been launched to meet the demand for essential healthcare products like nasal cannulas. This has helped boost the production of these products. The market for these applications is expanding globally due to the increased prevalence of respiratory disorders.

Moreover, the availability of technologically advanced products from key players is expected to play a significant role in the market's growth. For instance, in May 2022, Fisher & Paykel Healthcare Corporation, a provider of acute and chronic respiratory care products, announced the release of its Airvo 3 high-flow system. This device, which offers more advanced technology than its predecessor, the Airvo 2, delivers Optiflow therapy. It features an OptiO2 closed-loop system for targeted oxygen delivery that ensures an accurate oxygen level. The latest system also includes an integrated battery and a large touchscreen interface. These novel product launches and research studies are contributing to the growth of the market.

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Nasal Cannula Market Segmentation

By Type
High Flow Nasal Cannula
Low Flow Nasal Cannula

By Prong Shape
Curved and Flared Prongs
Curved Prongs
Flared Prongs
Straight Prongs

By Material
PVC
Silicone
Others

By Application
Asthma
COPD
Cystic Fibrosis
Sleep Apnea
Pneumonia
Cardiovascular Surgery
Diabetes Treatment
Others

By End-User
Hospitals
Ambulatory Surgical Centers
Neonatal Intensive Care Units
Home Care Setting

Market Key Players
Major players are Smith's Medical (ICU Medical), Teleflex Inc., Medline Industries Inc., Hamilton Medicals, Neotech Products, Medin Medical Innovations GmbH, Flexicare Ltd., Fairmont Medical, Fisher & Paykel Healthcare Limited and Sunset Healthcare Solutions Inc.

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