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High flow nasal cannula Global Market 2024 - Top Regions, Latest Technology, Investment Opportunities, Future Trends And Outlook 2033
High flow nasal cannula Global Market
The Business Research Company offers in-depth market insights through High flow nasal cannula Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The high flow nasal cannula market size has grown rapidly in recent years. It will grow from $5.03 billion in 2023 to $5.61 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to rising disposable income, changing lifestyle trends, globalization and trade, home renovation and construction activities, e-commerce growth.
The high flow nasal cannula market size is expected to see rapid growth in the next few years. It will grow to $8.23 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to sustainable and eco-friendly products, changing demographics, smart textiles integration, interior design trends, health and wellness textiles. Major trends in the forecast period include smart home integration, sustainable materials and practices, customization and personalization, innovative textile technologies, digital retail experiences.
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Market Segmentation:
The high flow nasal cannula market covered in this report is segmented -
1) By Type: Air Or Oxygen Blenders, Nasal Cannulas, Active Humidifier, Single Heated Tube, Other Types
2) By Application: Acute Respiratory Failure, Chronic Obstructive Pulmonary Disease (COPD), Carbon Monoxide Toxicity, Bronchiectasis, Sleep Apnea, Other Applications
3) By Sales Channel: Direct Channel, Distribution Channel
4) By End-User: Hospitals and clinics, Ambulatory care centers, Long-term care centers, Other End-Users
Major Driver - Surging Demand for High-Flow Nasal Cannulas Amidst Rising Asthma and COPD Cases
The rise in asthma and COPD incidence is expected to propel the growth of the high-flow nasal cannula market going forward. Asthma is a disorder in which the airways in the lungs constrict and swell, and excess mucus is produced. COPD, or chronic obstructive pulmonary disease, refers to a set of lung illnesses that make breathing difficult and worsen over time. High-flow nasal cannula has the potential to increase PO2 while minimizing HR and RR and acts as a viable treatment option for individuals suffering from severe bronchial Asthma worsened by respiratory failure. For instance, in April 2023, according to Asthma + Lung UK, a UK-based non-profit organization defending the freedom to breathe, between 2021 and 2022, hospital admissions for children with Asthma surged by 149 percent in England and Wales. Overall, 19,506 children were hospitalised with asthma symptoms between 2020 and 2021, compared with 7,850 between 2020 and 2021. Therefore, the rise in Asthma and COPD incidence is driving the high-flow nasal cannula market.
Competitive Landscape:
Major companies operating in the high flow nasal cannula market report are Air Liquide Medical Systems Pvt. Ltd., Becton Dickinson and Company, Koninklijke Philips N.V., Teijin Pharma Limited, ResMed Inc., Drägerwerk AG & Co. KGaA, Teleflex Incorporated, Masimo Corporation, Medical Dynamics Inc., Fisher & Paykel Healthcare Corporation Limited, Smiths Medical Inc., Vyaire Medical Inc., DeVilbiss Healthcare LLC, Armstrong Medical Ltd, Vapotherm Inc., SunMed LLC, Medin Medical Innovations GmbH, Sterimed Group, MEK-ICS Co. Ltd., Narang Medical Limited, Breas Medical AB, Bio-Med Devices Inc., Flexicare Medical Ltd., Fairmont Medical Products Pty Ltd, Besmed Health Business Corp., Löwenstein GmbH & Co. KG, Great Group Medical Co. Ltd., TNI Medical AG, Guangdong Pigeon Medical Apparatus Co.LTD, BLS Systems Limited
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