The global high flow nasal cannula market is anticipated to reach US$ 11,198.78 Mn in 2027 from US$ 4,390.74 Mn in 2018. The market is anticipated to grow with a CAGR of 11.1% from 2019-2027.
The report provides trends prevailing in the global high flow nasal cannula market and the factors driving the market along with those that act as hindrances. Among the regions, Asia Pacific is anticipated to witness significant growth during the forecast period. One of the factors anticipated to drive the growth of the high flow nasal cannula market in the Asia Pacific includes rising development in the healthcare sector. Also, the presence of associations and organizations working towards providing respiratory care to patients is expected to offer significant growth opportunities during the forecast period.
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The List of Companies
- Great Group Medical Co., Ltd.
- Salter Labs
- TNI Medical Ag
- Mek-Ics Co., Ltd
- Flexicare Medical Limited
- Vapotherm
- Teleflex Incorporated
- Hamilton Medical
- Fisher & Paykel Healthcare Limited
- ResMed
Market Insights
Growing Incidences of Asthma and COPD Across the Globe
The number of cases of asthma and COPD has been growing all over the world at a substantial rate. In recent years, the number of smokers and the levels of air pollution in developed, as well as developing countries, is increasing across the globe. Asthma is a medical condition where the airways swell and narrow and also produce mucus. This further leads to wheezing, coughing, and recurrent attacks of breathlessness, which differ in severity and frequency from person to person. According to the World Health Organization estimates, there are approximately 235 million people suffering from asthma around the world. Moreover, the Centers for Disease Control and Prevention (CDC) reported, approximately 19 million adults in the United States (18 years of age or above) are currently suffering from asthma, which accounts for almost 7.7% of the total adult population. Whereas, about 6.2 million patients below 18 years of age have asthma, which accounts for 8.4% of the total children population. Also, according to the WHO estimates published during December 2016, there were around 383,000 deaths due to asthma in 2015.
Growing Geriatric Population
COPD and asthma are senescence condition, which leads to gradual complications. Asthma in older adults is a critical condition that often goes unnoticed, as per the Asthma and Allergy Foundation of America (AAFA). According to the Office of Disease Prevention and Health Promotion (ODPHP), approximately 23 million people in the U.S. have some form of asthma, most of which include the older population. Older people with asthma often need high doses of medication, in spite of mild asthma attacks. Hence, they are more likely to suffer from respiratory failure much faster as compared to the younger population. Also, COPD can appear at any age. However, it is more prevalent in the older population and can be fatal. The aging population is growing exponentially worldwide.
Component Insights
The global high flow nasal cannula market, based on component, has been segmented into air oxygen blender, nasal cannula, heated inspiratory circuit, and active humidifier. In 2018, the active humidifier segment held the largest share of the market. Moreover, the segment is also expected to register the highest CAGR in the market during the forecast period.
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Table of Content:
- Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global High-Flow Nasal Cannula Market – By Component
1.3.2 Global High-Flow Nasal Cannula Market – By Application
1.3.3 Global High-Flow Nasal Cannula Market – By End User
1.3.4 Global High-Flow Nasal Cannula Market – By Geography
- High-Flow Nasal Cannula Market – Key Takeaways
- Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
- High-Flow Nasal Cannula– Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 High-Flow Nasal Cannula Market in North America: PEST Analysis
4.2.2 High-Flow Nasal Cannula Market in Europe: PEST Analysis
4.2.3 High-Flow Nasal Cannula Market in APAC: PEST Analysis
4.2.4 High-Flow Nasal Cannula Market in Middle East & Africa: PEST Analysis
4.2.5 High-Flow Nasal Cannula Market in South and Central America: PEST Analysis
4.3 Expert Opinions
- Global High-Flow Nasal Cannula Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Growing Incidences of Asthma and COPD Across the Globe
5.1.2 Growing Geriatric Population
5.2 Key Market Restraints
5.2.1 Side Effects Associated with High Flow Nasal Cannula
5.3 Key Market Opportunity
5.3.1 Emerging Markets in Asia Pacific Region
5.4 Future Trend
5.4.1 Increasing Acceptance of Home Oxygen Therapy
5.5 Impact Analysis
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