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High-flow Nasal Cannula Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 110 Pages
  • June 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4997498
UP TO OFF until Dec 31st 2023
The high-flow nasal cannula market is projected to witness a CAGR of nearly 12.4% over the forecast period.

The COVID-19 pandemic has significantly impacted the high-flow nasal cannula market. For instance, several studies were carried out indicating the use of high-flow nasal cannula for COVID-19 patients. For instance, as per a September 2020 published article titled High-flow nasal cannula for Acute Respiratory Distress Syndrome (ARDS) due to COVID-19, a retrospective, observational study was performed at a single center, evaluating patients with ARDS secondary to COVID-19 treated with a high-flow nasal cannula. The study reported that the main outcome was the intubation rate at day 30, which defined failure of therapy. As per the same study, high-flow therapy is a useful treatment in ARDS in order to avoid intubation or as a bridge therapy, and no increased mortality was observed secondary to the delay in intubation. Thus, the market was significantly impacted in the first quarter of 2020 due to supply chain disruptions. However, with the introduction of vaccines and the upliftment of lockdown, the market is expected to show lucrative growth in the future.

The major factors contributing to the market growth are the rising incidences of respiratory disorders and technological advancements in the high-flow nasal cannula systems.

The rising incidences of respiratory disorders are a major factor driving the market growth. For instance, as per a May 2021 update by the World Health Organization (WHO), asthma was a major noncommunicable disease (NCD), affecting both children and adults. As per the same source, asthma affected an estimated 262 million people in 2019 and caused 461,000 deaths. Asthma is the most common chronic disease among children.

Moreover, according to a December 2021 published article titled, High-flow nasal cannula in children with asthma exacerbation: A review of current evidence, high-flow oxygen therapy administered through a nasal cannula (HFNC) provides respiratory support with adequate airway humidity and has demonstrated safety and benefits in clinical practice. Thus, the growing burden of asthma is contributing to the increasing demand for high-flow nasal cannulas.

However, the limitations associated with high-flow nasal cannula are a major factor restraining the growth of the market.

Key Market Trends

Nasal Cannula Expected to Hold Major Market Share

By component, the nasal cannula is expected to hold a major share of the market. The major factors fueling the growth of the segment are the increasing number of product launches and the rising burden of respiratory disorders that increase the demand for such devices. The nasal cannula is used to supply oxygen to a person who cannot get enough oxygen to sustain normal body functioning. It is commonly used for people with lung diseases like chronic obstructive pulmonary disease or acute illness.

For instance, as per a June 2021 update by the World Health Organization (WHO), chronic obstructive pulmonary disease (COPD) was the third leading cause of death worldwide, causing 3.23 million deaths in 2019. As per the same source, more than 80% of these deaths occurred in low- and middle-income countries. Thus, the high burden of COPD is increasing the demand for nasal cannulas.

Several market players, including Masimo, a medical device company, are engaged in the provision of nasal cannulas, and the strategies adopted by these companies are contributing to the market growth. For instance, in March 2020, Masimo, a global leader in innovative noninvasive monitoring technologies, entered into a definitive agreement to acquire TNI medical AG, an innovative ventilation company headquartered in Würzburg, Germany.

Thus, due to the above-mentioned developments, the market is expected to witness significant growth during the forecast period.

North America Dominates the Market and Expected to do Same in the Forecast Period

Within North America, the United States has held the major share of the market. The major factors contributing to the market growth are the presence of key players, the high prevalence of respiratory diseases in the region, and the established healthcare infrastructure.

The increasing incidences of respiratory disorders in the country are a major factor driving the market growth. For instance, as per the Interactive Summary Health Statistics for Adults by the Centers for Disease Control (CDC), 3.5% of the population had asthma in 2020. Thus, the statistics lead to increasing demand for nasal cannulas.

In the United States, the market players are adopting various strategies, such as collaborations, partnerships, and product launches, which are showing a positive impact on the high-flow nasal cannula market. For instance, on August 3, 2020, 3B Medical, based in the United States, introduced the Freedom X oxygen cannula intended to address the nostril irritation caused to patients by nasal cannulas.

Thus, due to the above-mentioned developments, the market is expected to show lucrative growth over the forecast period.

Competitive Landscape

The high-flow nasal cannula market is moderately competitive and consists of several major players. Some of the companies currently dominating the market are ResMed, Fisher & Paykel Healthcare Limited, Devatec, Teleflex Incorporated, Smiths Medica, Vapotherm, Hamilton Medical, Flexicare Medical Limited, Masimo, and Great Group Medical Co. Ltd.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
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Table of Contents

1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Incidence of Respiratory Disorders
4.2.2 Technological Advances in the High-flow Nasal Cannula Systems
4.3 Market Restraints
4.3.1 Limitations of the High-flow Nasal Cannula Therapy
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value -USD million)
5.1 By Component
5.1.1 Air/Oxygen Blender
5.1.2 Active Humidifier
5.1.3 Single Heated Tube
5.1.4 Nasal Cannula
5.1.5 Other Consumables
5.2 By Application
5.2.1 Acute Respiratory Failure
5.2.2 Chronic Obstructive Pulmonary Disease
5.2.3 Acute Heart Failure
5.2.4 Other Applications
5.3 Geography
5.3.1 North America United States Canada Mexico
5.3.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.3.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.3.4 Middle-East and Africa GCC South Africa Rest of Middle-East and Africa
5.3.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 ResMed
6.1.2 Fisher & Paykel Healthcare Limited
6.1.3 Devatec
6.1.4 Teleflex Incorporated
6.1.5 Smiths Medical
6.1.6 Vapotherm
6.1.7 Hamilton Medical
6.1.8 Flexicare Medical Limited
6.1.9 Masimo (TNI medical AG)
6.1.10 Great Group Medical Co. Ltd

Companies Mentioned

A selection of companies mentioned in this report includes:

  • ResMed
  • Fisher & Paykel Healthcare Limited
  • Devatec
  • Teleflex Incorporated
  • Smiths Medical
  • Vapotherm
  • Hamilton Medical
  • Flexicare Medical Limited
  • Masimo (TNI medical AG)
  • Great Group Medical Co. Ltd