The global high flow nasal cannula market is expected to reach US$ 11,198.78 Mn in 2027 from US$ 4,390.74 Mn in 2018. The market is estimated to grow with a CAGR of 11.1% from 2019-2027.
Driving factors of the high flow nasal cannula are growing incidences of asthma and COPD across the globe and growing geriatric population. Also, increasing acceptance of home oxygen therapy is likely to have a positive impact on the growth of the market in the coming years. Besides, emerging markets in the Asia Pacific region is expected to have a positive effect on the growth of the market in the forecast years.
The growing healthcare industry in the developing countries in the Asia Pacific region are creating better opportunities for significant market players to expand their business. Most of the major players focus on emerging markets such as India, China, and others as they have a large number of patients suffering from respiratory disorders and growing medical tourism in developing countries. Many of the emerging countries in the Asia Pacific are preferred location for medical tourism. According to the global burden of disease data, India has 18 % of the world’s population, but it has 32% of the worldwide burden of respiratory diseases. Similarly, according to the new Tulane University study published in 2018, 8.6% of the Chinese population suffers from chronic lung disease. Also, according to the Malaysia Healthcare Travel Council, in 2017, Over 1,050,000+ healthcare travelers, visited Malaysia for healthcare purposes. The low cost of treatment, advance technologies with less waiting time for procedures in the region is likely to boost the demand for high flow nasal cannula. Thus, the growing healthcare sector in the region is expected to increase the market and is anticipated to provide significant growth opportunities to the players operating in the market during the forecast period.
The global high flow nasal cannula market is segmented by component, application, and end user. Based on the component, the market is segmented into air oxygen blender, nasal cannula, heated inspiratory circuit, and active humidifier. The active humidifier segment is expected to dominate the component segment market due to the technological advancements made by the market players operating in the market. Based on the application, the market is segmented into bronchiectasis, acute respiratory failure, acute heart failure, and chronic obstructive pulmonary disease. The chronic obstructive pulmonary disease segment held the largest share of the application segment during the forecast period. Similarly, based on the end user, the high flow nasal cannula market is categorized as ambulatory care centers, hospitals, and long-term care centers. The hospitals segment held the largest share of the end user segment during the forecast period.
Some of the essential primary and secondary sources included in the report are, Food and Drug Administration, World Health Organization (WHO), The Asthma and Allergy Foundation of America (AAFA), American Thoracic Society (ATS), The German Centre for Addiction Issues, and the Office of Disease Prevention and Health Promotion (ODPH), among others.