According to Precedence Research, the high flow nasal cannula market size is estimated to worth US$ 15,926.4 million by 2030 and expanding growth at a CAGR of 11.3% from 2021 to 2030.
According to Precedence Research, the high flow nasal cannula market size is estimated to worth US$ 15,926.4 million by 2030 and expanding growth at a CAGR of 11.3% from 2021 to 2030.
According to the World Health Organization (WHO), the third leading cause of death globally is chronic obstructive pulmonary disease. The patients who are suffering from chronic obstructive pulmonary diseases caused 3.23 million deaths in 2019. According to the World Health Organization (WHO), asthma affected around 262 million people and caused deaths of almost 461,000 people in 2019. As a result, the growth of the global high flow nasal cannula market is being driven by rising prevalence of asthma and chronic obstructive pulmonary diseases.
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The geriatric population is highly vulnerable to the different types of respiratory disorders. The number of old age people is increasing at a rapid pace. The population rate of people more than 60 years has tripled since 1950 and it is expected to reach more than 2 million by 2050. Thus, the growing geriatric population is contributing towards the growth of the global high flow nasal cannula market during the forecast period.
| Report Scope | Details |
| Market Size in 2030 | USD 15,926.4 Million |
| Growth Rate from 2021 to 2030 | CAGR of 11.3% |
| Largest Market | North America |
| Fastest Growing Region | Asia Pacific |
| Base Year | 2021 |
| Forecast Data | 2022 to 2030 |
Furthermore, the cost of high flow nasal cannula is quite low as compared to low flow nasal cannula, which is driving the expansion of the high flow nasal cannula market. In addition, the key market players are introducing new products in the market. These products are sold at low price in the market. All of these aforementioned factors are boosting the growth of the global high flow nasal cannula market over the projection period.
Report Highlights:
- Based on the product type, the active humidifiersegment dominated the global high flow nasal cannula market in 2020 with largest market share. The active humidifier is the type of high flow nasal cannula which is highly utilized and accepted in the market.
- On the basis of application, the acute respiratory disordersegment holds the largest market share the global high flow nasal cannula market in 2020. This is attributed to the growing incidences of respiratory disorders. Furthermore, acute respiratory disorder is considered as critical condition among people.
- Based on the end user, the hospitals and clinics segment dominated the global high flow nasal cannula market in 2020 with largest market share. The people who are suffering from acute respiratory disorders, chronic obstructive pulmonary diseases, and acute heart failure prefer hospitals and clinics for the treatment of such diseases on a large scale.
- North America is the largest segment for high flow nasal cannula market in terms of region. This is attributed to the growing incidents of chronic obstructive pulmonary disorders, asthma, and respiratory disorders in the region. Furthermore, governments of various developing countries in the regions provide subsidies for the treatment of such diseases, which is supporting the high flow nasal cannula market growth.
- Asia-Pacific region is the fastest growing region in the high flow nasal cannula market.This is due to the existence of key market players as well as rising healthcare expenditure in the Asia-Pacific region.
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Future of High Flow Nasal Cannula Market
The incidents of chronic respiratory disorders are rising at a rapid pace globally. More than 25 million people are suffering from asthma in the U.S. Furthermore, more than 14.8 million adults are suffering from chronic obstructive pulmonary disorders. The reason behind this is rising air pollution rates in developed regions. As per the estimates made by World Health Organization (WHO), every year 7 million people die due to air pollution globally. As a result, the market for high flow nasal cannula is expected to grow in near future.
COVID-19 Impact Analysis:
- The impact of coronavirus pandemic on the growth of the global high flow nasal cannula market was positive.
- In many research studies, it has been stated that people with respiratory disorders are more vulnerable to the coronavirus.
- Thus, this factor had increased the sales of high flow nasal cannula in the market.
- In addition, the key market players have started to launch new and innovative products in the global high flow nasal cannula market.
Key Developments in the Marketplace:
- Masimo introduced softFlowhigh flow nasal cannula therapy in the U.S. in February 2021. It provides unexpectedly ventilated patients with high flow nasal cannula and condensable respiratory gases. The patients can have high flow breathing assistance through a soft flow cannula with this product, which generates a steady high flow of oxygen or air.
- ResMed released AirSense 11 in the U.S. in August 2021, the company’s next generation positive airway pressure device for treating and managing obstructive sleep apnea.
Market Segmentation
By Product Type
- Single heated tube
- Nasal cannula
- Active humidifier
- Air blender
By Application
- Acute Respiratory Failure
- Chronic Obstructive Pulmonary Disease
- Acute Heart Failure
- Others
By End-user
- Hospitals and clinics
- Ambulatory care centers
- Long-term care centers
- Others
By Sales Channel
- Direct Channel
- Distribution Channel
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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