High-flow Nasal Cannula Market
High-flow Nasal Cannula Market (Component - Air/Oxygen Blender, Active Humidifier, Single Heated Tube, and Nasal Cannulas; Application - Acute Respiratory Failure, Chronic Obstructive Pulmonary Disease (COPD), Acute Heart Failure, Carbon Monoxide Toxicity, Sleep Apnea, and Bronchiectasis; End User - Hospitals, Long-term Care Centers, and Ambulatory Care Centers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
Press Release :
Global High-flow Nasal Cannula Market: Snapshot
Some of the prominent participants in the global high flow nasal cannula market are Fisher & Paykel Healthcare Limited, ResMed, Inc., Teijin Pharma Limited, Becton, Dickinson and Company, MEK-ICS CO., LTD., Teleflex Incorporated, Smiths Medical, Vapotherm, Inc., Flexicare Medical Limited, Salter Labs, Hamilton Medical, TNI medical AG, and Great Group Medical Co., Ltd. Of them, Fisher & Paykel Healthcare Limited emerged as the market leader in 2016.
Numerous factors are driving growth in the global high flow nasal cannula market. At the forefront is the ever-increasing number of respiratory disorders. Besides, soaring popularity and uptake of heated humidified high-flow nasal cannulas and increasing investments in research and development programs by companies to come up with better products leveraging more sophisticated technologies is also positively impacting sales. A noticeable trend in the market is the focus of local players on cost-effective products.
A study by Transparency Market Research, predicts the global nasal cannula market to rise at a 11.8% CAGR from 2017 to 2025 to become worth US$9.08 bn by 2025 from US$3.42 bn 2016.
Continued Innovations Propel Active Humidifiers Component to Fore
The global high-flow nasal cannula market can be segmented based on different parameters. Depending upon component, for example, the market can be divided into air/oxygen blender, nasal cannulas, active humidifier, single heated tube, and other consumables. Of them, the segment of active humidifier held maximum share in the market in 2016 and it was trailed by the segment of air/oxygen blender. In the near future too, active humidifiers will continue to retain their dominant market share on the back of continued innovations in humidifiers by manufacturers and health care solution providers in order to up their efficacy.
Application-wise, the key segments of the global high-flow nasal cannula market are acute respiratory failure, acute heart failure, chronic obstructive pulmonary disease (COPD), carbon monoxide toxicity, sleep apnea, bronchiectasis, etc. The acute respiratory failure segment, of them, held a major share in the market in 2016. It was followed by chronic obstructive pulmonary disease segment. This is because of the rampant acute respiratory failure in newborns, children, and adults.
Ambulatory care centers, long-term care centers, hospitals, etc. are some of the main end-users in the global high-flow nasal cannula market.
Helpful Healthcare and Reimbursement Policies Make North America Market Dominant
From a geographical perspective, currently North America holds a dominant share in the global high-flow nasal cannula market mainly because of the substantial increase in the number of people afflicted with respiratory diseases. Affordability, awareness and helpful healthcare and reimbursement policies are also benefitting the market majorly. By registering an 11.2% CAGR between 2017 and 2025, the market in the region is predicted to grow its dominant share further. The TMR report expects the market to rake in a revenue of US$3.91 bn by 2025.
Europe follows North America in the second position in the global high-flow nasal cannula market. The region is projected to rise at a CAGR of 11.7% from 2017 to 2025 to pull in a revenue of US$2.08 by 2025. In terms of growth rate, on the other hand, Asia Pacific is expected to surpass all other regions by clocking a CAGR of 12.9% in the forecast period. The high-flow cannula market in Asia Pacific is expected to rise on the back of favorable demographics, improved health care policies, and the fast-paced economic growth in the region.
Considerable Technological Progress Made by Market Players to Drive High-flow Nasal Cannula Market
The global high-flow nasal cannula market is expected to be driven by the technological progress made by the prominent market players. In addition to that, clinical trials for the purpose of evaluation of new areas of application are likely to open up new avenues of growth for the global high-flow nasal cannula market in the years to come. Addiction of smoking, increasing level of pollution, and deterioration in the quality of air all over the world is anticipated to work in favor of the market in the years to come.
There has been augmented prevalence of different respiratory disorders across the globe. Acute respiratory failures are foreseen to find extensive use of high-flow oxygen therapy utilizing high-flow nasal cannula, thereby bolstering growth of the market. Covid-19 is a disease caused by SARS-CoV-2 virus affecting upper respiratory tract and leading to its infection. Use of high-flow nasal cannula is expected to provide relief from the complications faced by Covid-19 patients. As such, outbreak of Covid-19 is anticipated to widen scope of growth of the global high-flow nasal cannula market in the forthcoming years.
High Prevalence of Respiratory Diseases, COPD and Asthma, to Propel Market Growth
There has been increasing incidences of chronic obstructive pulmonary disease (COPD) and asthma across the globe. In the last few years, there has been exponential rise in the number of smokers along with the level of pollutants in air, especially in the developing parts of the world. Asthma refers to a medical condition in which airways become narrow and swollen. In this condition, airways also produce mucus and leads to repeated attacks of breathlessness, coughing, and wheezing, which varies in frequency and severity from person to person. In accordance with WHO (World Health Organization), Asthma is one of the major non-communicable diseases worldwide. WHO estimates that there are around 339 million asthma patients in the world. Such wide prevalence of the disease is anticipated to foster development of the global high-flow nasal cannula market in the forthcoming years.
Global High-flow Nasal Cannula Market: Overview
The report on the high-flow nasal cannula market analyzes the current and future scenario of the global market. It has emerged as an innovative respiratory technique, and is expected to replace the conventional low-flow oxygen therapy and other non-invasive ventilation techniques for the treatment of respiratory diseases. The rising incidence of respiratory disorders leading to the increasing number of people requiring oxygen therapy is expected to drive the high-flow nasal cannula market.
The high-flow nasal cannula market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments of the market. It also provides information and data analysis of the global high-flow nasal cannula market with respect to the segments based on application, component, end user and geography. A detailed qualitative analysis of drivers and restraints of the market and opportunities has been provided in the market overview section. In addition, the section comprises porter’s five forces analysis and value chain analysis to understand the competitive landscape in the market. This section of the report also provides market attractiveness analysis, by geography and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global high-flow nasal cannula market.
Global High-flow Nasal Cannula Market: Segmentation
Based on component, high-flow nasal cannulas market is segmented into air/oxygen blender, active humidifier, single heated tube, nasal cannulas and other consumables. The market segments have been extensively analyzed based on availability of different high-flow nasal cannula components, product variations available and average price high-flow nasal cannula system. The market size and forecast in terms of US$ Mn for each segment have been provided for the period from 2015 to 2025. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2017 to 2025, considering 2016 as the base year.
Based on application, the high-flow nasal cannula market is segmented as acute respiratory failure, chronic obstructive pulmonary disease (COPD), acute heart failure, carbon monoxide toxicity, sleep apnea, bronchiectasis and other applications. The application market segments have been analyzed based on incidences of the disease and preference for use high-flow nasal cannula among patients. Among applications, the acute respiratory failure segment accounted for a prominent share of the global high-flow nasal cannula market in 2016 whereas the sleep apnea segment is expected to register the maximum CAGR during the forecast period. The market size and forecast for each of these segments have been provided for the period from 2015 to 2025, along with their respective CAGRs for the forecast period from 2017 to 2025, considering 2016 as the base year.
Based on end user, high-flow nasal cannulas market is segmented into hospitals, long-term care centers, ambulatory care centers and other end-users. The market segments have been extensively analyzed based on variations of cannulas provided by the healthcare providers and preference of the patients for the treatment facility. The market size and forecast in terms of US$ Mn for each segment have been provided for the period from 2015 to 2025. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2017 to 2025, considering 2016 as the base year.
Geographically, the global high-flow nasal cannula market has been categorized into five major regions and the key countries in the respective region: North America (the U.S., Canada), Europe (the U.K., Germany, Russia, France, Spain, Italy, and Rest of Europe), Asia Pacific (Japan, India, China, Australia & New Zealand and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America) and Middle East & Africa (South Africa, GCC countries and Rest of Middle East & Africa). The market size and forecast for each of these regions and the mentioned countries have been provided for the period from 2015 to 2025, along with their respective CAGRs for the forecast period from 2017 to 2025, considering 2016 as the base year. The research study also covers the competitive scenario in these regions.
Global High-flow Nasal Cannula Market: Competitive Landscape
The report also profiles major players in the global high-flow nasal cannula market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major players profiled in this report includes Fisher & Paykel Healthcare Limited, ResMed, Inc., Teijin Pharma Limited, Becton, Dickinson and Company, MEK-ICS CO., LTD., Teleflex Incorporated, Smiths Medical, Vapotherm, Inc., Flexicare Medical Limited, Salter Labs, Hamilton Medical TNI medical AG, Great Group Medical Co., Ltd., and others.
The Global High-flow nasal cannulas Market is segmented as given below:
by End User