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Press Release: Nasal Cannula Market to Surpass US$ 8.0 Billion Threshold by 2026
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Nasal Cannula Market – Insights
Nasal Cannula is a medical device used for delivering additional oxygen to patients associated with respiratory difficulties. It is a lightweight tube split into two prongs, which are inserted into the nose. It supplies oxygen through the prong while the other end of the tube is connected to a supplier of oxygen. It is used for patients with chronic obstructive pulmonary diseases, stroke, in neonatal babies, and those having breathing difficulties. It supports the respiratory system of the body and is used in high flow therapy or for providing supplemental oxygen. Generally, nasal cannula carries approximately 1 to 5 liters of oxygen per minute. For neonatal babies, nasal cannula carry 1 liter or less oxygen per minute.
Product launches by key players is expected to boost the global nasal cannula market growth over the forecast period
Increasing product launches of nasal cannula is expected to propel the global nasal cannula market growth over the forecast period. For instance, in October 2015, Teleflex Inc. launched a product - Comfort Flow plus Nasal Cannula. This product was expansion to its heated high flow therapy product portfolio. It consists of silicon nares and an optional chin strap, which promotes close mouth treatments. Similarly, in November 2015, Salter Labs launched a portfolio dedicated to neonatal care. The company developed a whole range of products including nasal cannulas keeping in mind the special needs of infants. Some of its products of nasal cannulas include, conventional cannulas, demand cannulas, and salter–style cannulas. Such product launches are expected to broaden the range of technology related to nasal cannulas and thereby accelerate the global nasal cannula market growth.
The global nasal cannula market was valued at US$ 4,234.5 million in 2017, and is expected to witness a robust CAGR of 7.4% over the forecast period (2018–2026).
Figure 1. Global Nasal Cannula Market Share (%), by Region, 2018 & 2026
Source: Coherent Market Insights Analysis (2018)
Increasing government and organization Initiatives related to respiratory diseases treatment is expected to support the global nasal cannula market growth over the forecast period
Nasal cannula is a basic necessity for patients suffering from respiratory diseases or have breathing difficulties. Initiatives taken by governments and other organizations related to respiratory diseases treatment is expected to support the global nasal cannula market growth over the forecast period. For instance, in November 2018, Pulmonary Hypertension Association, U.S., celebrated November as a pulmonary hypertension awareness month. The association organized awareness campaigns and fund raising events to support pulmonary hypertension patients with their medical needs and to also support for the research and studies for pulmonary hypertension. Similarly, in May 2018, National Stroke Association announced May as a stroke awareness month wherein the association held social media campaigns and other events with the help of celebrities. The purpose of the campaign was to raise awareness about the risk factors related to stroke and to support patient’s life. Hence, such initiatives are expected to support the global nasal cannula market growth over the forecast period.
Figure 2. Global Nasal Cannula Market Share (%), by End User, 2018 & 2026
However, presence of alternatives such as oxygen masks, which provide higher volume and rate of oxygen flow to patients is expected to hamper the global nasal cannula market growth.
Major players operating in the global nasal cannula market include, 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.
Nasal cannula is considered as an essential part for airway management. It is a hollow tube consisting of two prongs that facilitates the oxygen airflow into the body through the nostrils. The source of oxygen to these cannulas is generally a portable generator. It generally provides 25% of oxygen rate but can be extended up to 95% and the flow is approximately 1 to 6 liters per minute. Some of the advanced nasal cannulas allow a flow rate of around 40 liters per minute. It is used for those who suffer from stroke, chronic obstructive pulmonary diseases, or have difficulties related to respiratory management and in neonatal infants. These cannulas are considered as lightweight, easy to use, and economical.
Market Dynamics
Factors such as technological development of products, increasing prevalence of chronic diseases, and frequent initiatives taken by government and other organizations related to respiratory diseases is supporting the global nasal cannula market growth. For instance, in October 2016, Fisher and Paykel Healthcare conducted a study of Optiflow nasal high therapy in comparison with non-invasive ventilation. The study was conducted in three intensive care units. It was revealed that nasal high flow cannula was as much effective as non–invasive ventilation for prevention of reintubation and post-extubation respiratory failure in patients. Moreover, increasing prevalence of stroke may lead to higher adoption of nasal cannula as hypoxemia (a condition in which body does not have enough oxygen) is common in acute ischemic stroke. According to Centers for Disease Control and Prevention 2017 data, in every 4 minutes, someone in the U.S. gets a stroke. These factors are expected to support global nasal cannula market growth over the forecast period.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 26 market data tables and 32 figures on "Nasal Cannula Market - Global forecast to 2026”.
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