The global high-flow nasal cannula market size was worth around USD 7.45 billion in 2022 and is predicted to grow to around USD 18.65 billion by 2030 with a compound annual growth rate (CAGR) of roughly 12.18% between 2023 and 2030.
A high-flow nasal cannula is a medical device used to facilitate high-flow therapy, also known as heated humidified high-flow therapy. The cannula is a component of a respiratory support system that provides a constant passage of medical gas to patients with respiratory conditions.
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???? Market for High-flow Nasal Cannulas: An Overview
The primary characteristic of the high-flow nasal cannula is that it facilitates the delivery of 60 liters per minute of medical gas as well as 100 percent oxygen. The high-flow nasal cannula has aided in the replacement of the conventional medical gas delivery system nasal cannula that can deliver 1-6 liters per minute of medical gas.
Due to the equipment’s high flow capacity, patients with life-threatening or severe respiratory conditions can have their medical requirements met. Typically, it is administered to patients who are breathing voluntarily but are experiencing respiratory obstruction or failure due to bronchiolitis, acute exacerbations of chronic obstructive pulmonary disease (COPD), congestive heart failure, asthma, pneumonia, and other conditions. Due to the increasing number of patients worldwide, the market for high-flow nasal cannula is expanding at an accelerated rate. The demand for high-performance, high-flow nasal cannulas is anticipated to increase over the forecast period.
???? Major Insights:
• According to the analysis shared by our research analyst, the global high-flow nasal cannula market is projected to expand at a CAGR of approximately 12.18% during the period of forecast (2023-2030).
• In terms of revenue, the global high-flow nasal cannula market size was valued at around USD 7.45 billion in 2022 and is projected to reach USD 18.65 billion, by 2030.
• The market for high-flow nasal cannulas is anticipated to expand at a significant rate due to the increasing number of COPD patients reporting acute exacerbations.
➤ Increasing number of COPD patients reporting acute exacerbations will drive market expansion
The global high-flow nasal cannula market is anticipated to expand due to the rising number of COPD patients experiencing acute exacerbations. The condition is a chronic inflammatory lung disease that results in airway obstruction in the lungs. The primary causes of COPD in patients are excessive exposure to particulate matter or aggravating gases, such as cigarette smoke. Associated symptoms include mucus, cough, respiratory difficulty, and wheezing. As indicated by studies, individuals with COPD are at a higher risk of lung cancer, development of more serious heart diseases, and other critical conditions. According to statistics published by the World Health Organization (WHO), chronic obstructive pulmonary disease caused over 3.23 million fatalities worldwide.
➤ Equipment and subsequent treatment costs will inhibit market expansion
The price of a high-flow nasal cannula is astronomical. For instance, the average price of a high-flow nasal cannula begins at $2,000 and may increase based on its functionality and other characteristics. In addition, a study published by the National Institutes of Health (NIH) estimated that the per-patient cost of using a high-flow nasal cannula in the United States would be approximately USD 368. In addition, the total cost of treatment is even higher due to additional expenses such as hospitalization, insurance coverage, supplementary medical treatments, and miscellaneous costs. Due to the high cost of equipment and overall treatment, the development of the high-flow nasal cannula market is likely to be limited.
➤ Rising introduction of cutting-edge high-flow nasal cannula will generate additional growth opportunities
Since the impact of COVID-19, more resources have been poured into developing high-performance nasal cannulas that meet patients’ needs and medical requirements, resulting in a welcome increase in the number of superior options on the market. Intersurgical, a provider of comprehensive respiratory systems, developed the Intersurgical i-floTM high flow nasal cannula with a focus on task delivery and patient comfort. It is an interface for a single-use adult patient and incorporates several unique features.
➤ Increasing global spending on healthcare will permit more medical centers to use high-flow nasal cannulas
The rising number of patients and demand for equal access to medical care have led to an increase in global healthcare expenditures sustained by regional governments and private healthcare organizations. In the coming years, the demand for high-flow nasal cannulas is expected to propel the global market growth trend, as the number of medical centers being built worldwide rises.
➤ Effective resource management as a result of stringent rules creates growth obstacles
The industry of high-flow nasal cannulas is subject to strict guidelines and regulatory measures that vary by region. Since these devices are essential to patient health, no room for error exists. Managing essential resources such as time and money while adhering to ever-changing compliance regulations may be a challenge for companies operating in this industry.
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The Global High-flow Nasal Cannula Market is segmented based on product, application and region
Global High-flow Nasal Cannula Market: Product Segment Analysis
● Nasal Cannulas
● Air Humidifiers
● Single Heated Tubes
● Air/Oxygen Blenders
Global High-flow Nasal Cannula Market: Application Segment Analysis
● Carbon Monoxide Toxicity
● Acute Respiratory Failure
● Chronic Obstructive Pulmonary Disease (COPD)
● Sleep Apnea
The global high-flow nasal cannula market is led by players like:
● Teleflex Incorporated
● Fisher & Paykel Healthcare
● Dickinson and Company (BD)
● Drive DeVilbiss Healthcare
● Flexicare Medical Limited
● Hamilton Medical
● Invacare Corporation
● Salter Labs
● Precision Medical Inc.
● Besmed Health Business Corp.
● Smiths Medical
● Great Group Medical Co. Ltd.
● Inogen Inc.
➤ North America will experience a higher rate of expansion during the appraisal period
By 2030, North America is anticipated to dominate the global high-flow nasal cannula market. In 2022, the region generated over 50% of the global sales. Regional dominance is influenced by the existence of a robust medical infrastructure, the presence of major medical device manufacturers and suppliers, and the rising demand for non-invasive medical treatments for respiratory conditions. US-based global medical technology company Masimo announced the US premiere of softFlow® in February 2021. It is a novel therapy for pulmonary care that employs a nasal cannula with high flow.
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North America was one of the most severely affected regions during COVID-19, prompting government officials to take significant measures to prevent future outbreaks. Asia-Pacific is anticipated to develop steadily. Increasing healthcare expenditures, an escalating rate of air pollution, and growing investments in the development of new medical centers to satisfy the needs of a burgeoning population may serve as key regional growth drivers.
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