High-flow Nasal Cannula Market: Increasing Prevalence of Respiratory Disorders to Bolster Market Growth

A nasal cannula refers to that very device which is used for the purpose to delivering increased airflow or supplemental oxygen to a patient who is in dire need of the assistance of respiratory therapy. A nasal cannula is also known as nasal oxygen cannula.

The global vendor landscape of the said market is quite a fragmented one with the presence of numerous players. MEK-ICS CO., LTD., ResMed, Inc., Fisher & Paykel Healthcare Limited, Becton, Teijin Pharma Limited, Teleflex Incorporated, Flexicare Medical Limited, Vapotherm, Inc., Dickinson and Company, Hamilton Medical, Great Group Medical Co., Ltd., Smiths Medical, TNI medical AG, and Salter Labs are some of the prominent names that comprise the market vendor landscape. Of all of these, Fisher & Paykel Healthcare Limited has appeared as the leader of the market for high-flow nasal cannula in the year 2016.

The world market for high-flow nasal cannula is driven by a numbers of factors. At the very front, exists the burgeoning number of respiratory disorder cases. In addition to that, phenomenal popularity and the adoption of heated humidified high-flow nasal cannulas together with increased investments in programmes of research and development by several market players are further bolstering the growth of the market. An increasing inclination towards product diversification and cost-effective product are also poised to drive market growth.

This market research report by Transparency Market Research estimates that the world market for high-flow nasal cannula is set to rise at a double digit growth rate of 11.8% CAGR. The growth rate is for the forecast period that extends from the year 2017 to 2025 and obtains a market valuation of US$9.08 bn by the end of forecast year, at 2025 rising from a market valuation of US$3.42 bn in the year 2016. 

What could be the Growth Trajectories for the Market?

The international market for high-flow nasal cannula is prognosticated to be bolstered mostly by the increasing preference of heated humidified high-flow nasal cannulas and soaring occurrences of respiratory disorders. Another growth promoting element that could prove advantageous for the said market is the augmented investments in the department of research and development by several market players. It is an effort to emerge with much improved products by making optimum use of advanced technologies. This enables the companies to diversify their product portfolio and obtain an edge over their rivals.

The market for high-flow nasal cannula, has been segmented into various categories. Of those categories, the division of active humidifier accounted for maximum market share in the year 2016. It was followed by the category of air/oxygen blender. In the forthcoming years, it is forecasted that active humidifiers category would continue with their market dominance at the backdrop of relentless innovations in and diversification of humidifiers by many of the health care solution providers and manufacturers so as to improve upon their product effectiveness.
Which Geographical Segments would Retain Its Lead in the Industry?

From the regional point of view, in the present market scenario, North America accounts for most of the market share in the world market for global high-flow nasal cannula. The regional dominance of North America is owing to significant rise in the number of patients who have been suffering from diseases associated with respiratory system. Apart from that, other growth promoting factors such as increased health awareness, supportive reimbursement policies and healthcare systems, and affordability are also proving beneficial for the market.
North America is followed by Europe. However, it has been forecasted that Asia Pacific would register a very high growth rate with a CAGR of 11.7% over the period of forecast. This is owing to its enhanced healthcare system with better policies in place, favourable demographics, and sound economic growth.


Post a Comment

Note: only a member of this blog may post a comment.

Latest Post

Market Research Reports