Market Research Future (MRFR) has published on the “Global High-Flow Nasal Cannula Market”.
The high-flow nasal cannula market is estimated to register a CAGR of 13.00% during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the global high-flow nasal cannula market - Fisher & Paykel Healthcare Limited, Teleflex Incorporated, ResMed, Devatec, Smiths Medical, Vapotherm, Hamilton Medical, Masimo (TNI medical AG), Flexicare Medical Limited, and Great Group Medical Co. Ltd.
High-Flow Nasal Cannula Market Highlights
The global high-flow nasal cannula market is accounted to register a CAGR of 13.00% during the forecast period and is estimated to reach USD 21.0 billion by 2032.
The market for high-flow nasal cannula(HFNC) is driven by several factors, including the rise in respiratory illnesses worldwide, technological advancements that have improved the effectiveness and patient experience of HFNC systems, and the increasing awareness among medical professionals of the benefits of high flow-nasal cannula therapy over conventional oxygen delivery methods.
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Segment Analysis
The global high-flow nasal cannula market has been segmented into component, application, and end-user.
On the basis of component, the market is segmented into Nasal Cannulas, Air Humidifiers, Single Heated Tubes, Air/Oxygen Blenders, and Others. The nasal cannulas segment was attributed to holding the largest market share in 2023 due to the increased occurrence of respiratory illnesses. A nasal cannula is used to deliver oxygen to a person who is unable to get enough oxygen for continuous normal body function. A nasal cannula is a flexible plastic tube with two small prongs that fit into the nostrils. It's used to give a patient an oxygen flow that's quite high. The prongs are fastened to an oxygen-supplying tank or wall outlet. The oxygen supply's flow meter regulates the oxygen's flow.
Based on application, the global high-flow nasal cannula market has been segmented into Carbon Monoxide Toxicity, Acute Respiratory Failure, Bronchiectasis, Chronic Obstructive Pulmonary Disease (COPD), Sleep Apnea, and Others. The chronic obstructive pulmonary disease (COPD) segment was expected to hold the largest market share in 2023. Growing work exposure to dust or chemicals is the cause of the rising number of COPD patients. Furthermore, it is believed that COPD is brought on by prolonged exposure to tobacco smoke, indoor air pollution from allergens such as plant pollen, animal fur, and cooking smoke from wood or cow dung, as well as any hereditary deficiencies.
Based on end-user, the global high-flow nasal cannula market has been segmented into Long-Term Care Centers, Hospitals, Ambulatory Care Services, and Others. The hospitals segment was expected to hold the largest market share in 2023. Hospitals are the main hubs for critical care management, providing extensive medical care to patients with respiratory disorders such as pneumonia, chronic obstructive pulmonary disease, and abrupt respiratory failure. In hospital settings, cannula treatment is essential because it offers patients who need oxygenation and ventilation aid non-invasive respiratory support.
Regional Analysis
The global high-flow nasal cannula market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe high-flow nasal cannula market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The high-flow nasal cannula market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World high-flow nasal cannula market comprises the Middle East, Africa, and Latin America.
The largest market share for high-flow nasal cannula was maintained by the North American regional sector as a result of things like the increased occurrence of respiratory illnesses, the growing use of non-invasive ventilation methods, and the growing understanding of the benefits of high-flow nasal cannula therapy. The existence of significant market players in the region is another factor contributing to the industry's growth. The US market, in particular, is expected to grow significantly because of the increased demand for state-of-the-art respiratory care equipment and the accessibility of advanced healthcare infrastructure.
Moreover, the Europe market has been persistently growing over the forecast period. Regional growth is influenced by a number of factors, including the availability of a strong medical infrastructure, important suppliers and manufacturers of medical devices, and a growing need for non-invasive medical treatments for respiratory disorders. The German market is growing as a result of growing R&D activities and increased investments made by government organizations for the treatment of such respiratory ailments.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period because of a number of causes, such as the growing number of elderly people, the incidence of respiratory diseases, and the growing need for non-invasive breathing techniques. Rising healthcare expenditures and the presence of significant industry competitors in the region are other factors contributing to the market's expansion. Emerging markets like China and India are expected to see substantial market increases because of the growing demand for advanced respiratory care equipment and the accessibility of healthcare infrastructure.
Furthermore, the rest of the world's high-flow nasal cannula market is divided into the Middle East, Africa, and Latin America. The rest of the world has different market dynamics. The Middle East and Latin America are seeing an increase in investments in healthcare infrastructure and the adoption of cutting-edge medical technologies. Africa, on the other hand, has a relatively small but growing HFNC market, driven primarily by the growing demand for respiratory solutions. Furthermore, the number of procedures performed in the area each year is on the rise due to the increase in chronic respiratory illness cases.
Key Findings of the Study
- The global high-flow nasal cannula market is expected to reach USD 21.0 billion by 2032, at a CAGR of 13.00% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to several factors, including the aging population, the prevalence of respiratory illnesses, and the increasing need for non-invasive breathing methods.
- Based on application, the chronic obstructive pulmonary disease (COPD) segment was attributed to holding the largest market in 2023, with an approximate market share of 42%.
- Fisher & Paykel Healthcare Limited, Teleflex Incorporated, ResMed, Devatec, Smiths Medical, Vapotherm, Hamilton Medical, Masimo (TNI medical AG), Flexicare Medical Limited, and Great Group Medical Co. Ltd. are the key market players.
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Companies Covered | 15 |
Pages | 128 |
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