Nasal Cannula Market Trends and Forecast to 2028
Nasal cannula is a medical device used to deliver increased airflow and oxygen to patients suffering from respiratory disorders, such as chronic obstructive pulmonary disease (COPD), asthma, emphysema, pneumonia, pulmonary embolism, etc. Asthma is defined as a common, chronic respiratory condition that causes difficulty breathing owing to the inflammation of the airways. Thus, with the increasing prevalence of respiratory disorders, the demand for nasal cannula is also increasing, driving the nasal cannula market growth. According to the World Health Organization (WHO), around 65 million people around the world suffer from COPD and 3 million die from it every year, making it the third leading cause of death worldwide.
Key participants for business development are Sunset Healthcare Solutions Inc., Flexicare Ltd., Medin Medical Innovations GmbH, Salter Labs, Smiths Medical, Teleflex Inc., Neotech Products, Fairmont Medical, Medline Industries Inc., and Hamilton Medicals.
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Moreover, around 334 million people suffer from asthma, the most common chronic disease of childhood affecting 14% of all children, worldwide. Nasal cannula carry around 1 to 5 liters of oxygen per minute, while carry around 1 liter or less oxygen per minute for neonatal babies. It is considered as an advanced form of the bronchoscope, which uses air pressure through the nose to provide continuous oxygen to the patient’s breathing system. It delivers oxygen based on the patient’s respiratory pattern and breathing rate. They are extensively used to provide relief to people with respiratory disorders. Thus, increasing prevalence of respiratory disorders, such as COPD and asthma, is a major factor driving the growth of the nasal cannula market.
Furthermore, the nasal cannula market is witnessing robust growth due to the emergence of COVID-19 (global pandemic). COVID-19 is a respiratory disease, one that especially reaches into the respiratory tract and can cause a range of breathing problems, from mild to critical. The primary strategy for COVID-19 patients is supportive care, including oxygen therapy for hypoxaemic patients, in which high-flow nasal cannula has been reported to be effective in improving oxygenation. Thus, there is an increasing demand for nasal cannulas in the market. For example, Nocca Robotics launched Noccarc H210, high-flow oxygen therapy device for critical care treatment of COVID-19 patients.
Noccarc helps patients with respiratory problems breathe comfortably through nasal cannula. Therefore, the nasal cannula market is gaining huge traction due to the ongoing COVID-19 crisis. Market players are focused on developing new and innovative nasal cannulas to meet the increasing demand. Such product launches are expected to broaden the range of technology related to nasal cannulas and thereby accelerate the nasal cannula market growth. However, one of the major restraining factor which may hamper the nasal cannula market growth is the availability of oxygen masks; they provide higher rate of oxygen compared to nasal cannula.
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Current and future of global Nasal Cannula market outlook in the developed and emerging markets
The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
Regions/countries that are expected to witness the fastest growth rates during the forecast period
The latest developments, market shares, and strategies that are employed by the major market players
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Years Considered to Estimate the Nasal Cannula Market Size:
History Year: 2016-2020
Base Year: 2020
Forecast Year: 2021-2028
Important Features and Key Highlights of the Market:-
- Detailed overview of market application and advantages.
- Understand the technologies support, Solution, Services. Understand the evaluation of dynamic growth.
- The in-depth market information of competitors, revenue, and cost structure.
- Strategies of key players, the competitive landscape.
- Historical data, current trend, and market volume and value.
- Industry restrains drivers and opportunities.
- product Development and offerings Key insights.
- Potential Application covers extensive analysis of emerging trends
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Frequently Asked Questions
- What will the market size be in 2028 and at what rate will it grow?
- What are the Major growth driving factors for the global Nasal Cannula market during the forecast period?
- What are the trends in the global Nasal Cannula market?
- What are the key factors hampering the growth of the global Nasal Cannula market?
- Which are the key players forming the competitive landscape?
- What is the current market size?
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