High-flow Nasal Cannula Market to Record an Impressive Growth Rate During Forecast 2020 to 2025
The global high-flow nasal cannula market is anticipated to display an exponential 11.8% CAGR for the period 2020 to 2030. A recent Fact.MR report says that increasingly, the primary treatment procedure for hypoxemic covid-19 patients in healthcare facilities includes supportive care procedures such as oxygen therapy from high-flow nasal cannulas. This trend will provide significant impetus to market players throughout and after the crisis period.
“Many healthcare facilities are adopting early intubation, which in turn results in higher sedation and longer stays in ICUs, that generates a high-risk situation for viral exposure. Consequently, high flow nasal cannulas can provide a safer alternative in providing patients with short term respiratory relief, aiding adoption rates and market growth,” says the FACT.MR report.
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High-flow Nasal Cannula Market- Key Takeaways
- Active humidifier components are projected to witness high growth, aided by innovations in technology diversification by market players.
- Chronic obstructive pulmonary disease treatment applications are gaining significant traction, supported by the massive global geriatric population.
- North America and Europe are leading high-flow nasal cannula markets, driven by favorable reimbursement and healthcare policies.
High-flow Nasal Cannula Market- Driving Factors
- The rapid growth in the cases of COPD and asthma around the world is a key factor driving the adoption of high flow nasal cannulas.
- Increasing investments by market players towards integration of advanced technologies and cost reduction for product offerings improves market prospects.
High-flow Nasal Cannula Market- Major Restraints
- Side effects such as epistaxis, nasal trauma, and drying mucous membranes, limit adoption rates.
- Higher complexity of patient care procedures during the use of high flow nasal cannulas hold back market growth.
COVID-19 Impact on High-flow Nasal Cannula Market
The coronavirus pandemic has increased the requirement for supplemental oxygen therapy manifold, owing to the unprecedented influx of patients in a small timeframe. In addition, the shortage of ventilators in healthcare facilities around the world is a major concern during the crisis period. These trends are generating major growth opportunities for high-flow nasal cannula manufacturers in the short term.
Explore the global High-flow Nasal Cannula Market with 75 figures, 24 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/connectus/sample?flag=RM&rep_id=4777
Telefax Inc., Fisher & Paykel Healthcare Ltd., ResMed Inc., and BD/CareFusion are some of the prominent high-flow nasal cannula manufacturers in the global market.
High-flow nasal cannula market players are primarily invested in product innovation initiatives and new product launches to widen their product portfolios for treatment applications of varied respiratory disorders.
For example, Fisher and Paykel Healthcare has debuted its Airvo range of high-flow nasal cannula for oxygen therapy in home settings. Similarly, Vapotherm has announced the introduction of its Flowrest high-flow cannula device, for operations in low acuity settings. Precise Flight has unveiled a set of boom cannulas for general aviation applications.
About the Report
This study offers readers a comprehensive market forecast of the high-flow nasal cannula market. Global, regional and country-level analysis of the top industry trends impacting the high-flow nasal cannula market is covered in this FACT.MR study. The report offers insights on the high-flow nasal cannula market on the basis of component (oxygen blend, air humidifier, single heated tube, nasal cannula, and others), application (acute respiratory failure, chronic obstructive pulmonary disease, carbon monoxide toxicity, bronchiectasis, sleep apnea, acute respiratory failure, and others), and end user (hospital, long term care center, ambulatory care center, tomosynthesis, and others), across five regions (North America, Latin America, Europe, Asia Pacific, and MEA).