The Acute Respiratory Failures Segment Is Expected To Grow Impressively At A CAGR Of 11.4%
The Acute Respiratory Failures Segment Is Expected To Grow Impressively At A CAGR Of 11.4%
Fact.MR – A Market Research and Competitive Intelligence Provider: The global high-flow nasal cannula market is expected to witness a CAGR of 11.8% during the forecast period (2020 – 2025).
Technological advancements by key market players are also expected to offer opportunities and new avenues for the market. High prevalence of acute respiratory failures is expected to offer lucrative opportunities for high-value oxygen therapy using high-flow nasal cannula.
Other benefits of high-flow nasal cannula are that they deliver a consistent flow of oxygen via the nasal cannula and alleviate upper airway obstruction. Moreover, rise in prevalence of sleep apnea is also anticipated to boost the market growth.
High prevalence of non-invasive ventilation and continuous positive airway pressure devices has risen rapidly in home care settings for patients suffering from respiratory diseases. This has also pushed key manufacturers to increase production of devices, thus boosting the market share.
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Moreover, increasing population, growing smoking prevalence and degraded air quality have boosted the number of respiratory disease cases.
Key players in the market are expanding its production of respiratory support, ventilators and humidification products to hospitals. For instance, ResMed has boosted the production of its devices such as AirCurve 10 bi-level devices to offer some comfort to Covid-19 patients.
Key Takeaways:
- The Acute Respiratory Failures segment is expected to account for around 3/10th of the high-flow nasal cannula market, growing rapidly at a CAGR of 11.4%
- Rising prevalence of sleep apnea is also expected to boost the market of high-flow nasal cannula. Moreover, market is projected to witness a CAGR of 13.5% during the forecast period.
- Asia pacific is expected to show impressive growth prospects fro the high-flow nasal cannula market. Moreover, Asia pacific is also expected capture a market share of13.2%
Growth Drivers:
- Covid-19 pandemic has boosted the market aspects for high-flow nasal cannula market. Moreover, owing to its widespread application in the treatment of respiratory diseases, high-flow nasal cannula is gaining traction. Also, as the Covid-19 affects the lungs, high-flow nasal cannula is suitable approaches to aid patients breathe normally.
- Rising prevalence of respiratory diseases is anticipated to boost the high-flow nasal cannula market during the forecast period. Moreover, growing smoking prevalence have also increased the number of respiratory diseases cases across the globe.
- Growing acceptance of high-flow nasal cannula treatment among various patients is expected to boost the growth of the market
- Key players in the market are making significant investments in the product portfolio. Companies are significantly investing in technological advancements to acquire market share.
- Surge in cases of sleep apnea is also expected to boost the growth of high-flow nasal cannula.
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Competitive Landscape: The global high-flow nasal cannula market is fragmented. Out of the major key players, four of these account for the maximum share, three-tenth of the total market. These four players are BD/CareFusion, Fisher & Paykel Healthcare Limited, Telefax incorporated, and ResMed Inc. Moreover, these players are significantly innovating product portfolios by investing into technological advancements to acquire market presence.
- For instance, Fisher & Paykel is boosting its production of respiratory support devices, ventilators and humidification products to hospitals. Likewise, ResMed has accelerated its production of its AirCurve 10 bi-level devices to provide some comfort to COVID-19 patients.
- ResMed Inc. is key player in the market. It offers various products for the treatment of sleep apnea and non-invasive ventilation. Also, flagship products include AirView, ClimateLine Max and myAir for the management of sleep apnea and respiratory disorders.
Key Companies Profiled by Fact.MR
More Valuable Insights on High-flow nasal cannula market
- By Component:
- Air/Oxygen Blend
- Air Humidifier
- Single Heated Tube
- Nasal Cannula
- Other Consumables
- By Application:
- Acute Respiratory Failure
- Chronic Obstructive Pulmonary Disease (COPD)
- Carbon Monoxide Toxicity
- Bronchiectasis
- Sleep Apnea
- Other Applications
- By End-user:
- Hospitals
- Long-term Care Centers
- Ambulatory Care Centers
- Tomosynthesis
- Other End-users
- Key Regions:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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