Nasal Cannula Market to Surpass US$ 8.0 Billion Threshold by 2026

Published On : Jun 06, 2019

The global nasal cannula market by Product Type (Low-flow Cannula, High-flow Cannula, and Others), by Application (Cancer, Respiratory Diseases , Cardiovascular Diseases, and Others), by End User (Hospitals, Neonatal Intensive Care Units, Home Care Settings, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 4,234.5 million in 2017, and is projected to exhibit a CAGR of 7.4% over the forecast period (2018–2026), as highlighted in a report published by Coherent Market Insights.

The global nasal cannula market is expected to witness significant growth over the forecast period, owing to factors such as product development and high prevalence of diseases including chronic obstructive pulmonary respiratory diseases (COPD), lung cancer, and stroke. Moreover, initiatives taken by several organizations related to treatment and awareness of respiratory diseases is expected to support the global nasal cannula market growth over the forecast period.

Manufacturers are focusing on developing new products and introducing new technology in the market. For instance, in January 2016, UODPS LLC launched a product: Uniflo-2 single nasal cannula, which was designed using ultra-smooth materials. It does not contain any rubber latex, which minimizes the exposure to Di-2-ethylhexyl phthalate (DEHP), thereby preventing irritation. It consists of memory stabilizer and ensures continuous flow of air. In June 2018, the company conducted a survey wherein opinions were recorded from COPD patients using Uniflo 2 single nasal cannula. The study revealed that almost 98% patients found this cannula as more comforting than dual prong nasal cannula. It allows minimum skin contact so as to avoid skin irritation, which occurs in dual prongs and is almost half in weight as compared to dual prong nasal cannulas. Moreover, in October 2018, Vapotherm Inc. received an approval from the U.S. Food and Drug Administration (FDA) for Precision Flow Hi-VNI system (respiratory system), which involves designed nasal cannulas that assist high flow oxygen therapy.

Browse 26 Market Data Tables and 32 Figures spread through 168 Pages and in-depth TOC on Global Nasal Cannula Market by Product Type (Low-flow Cannula, High-flow Cannula, and Others), by Application (Cancer, Respiratory Diseases, Cardiovascular Diseases, and Others), by End User (Hospitals, Neonatal Intensive Care Units, Home Care Settings, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026

To know the latest trends and insights prevalent in the Global Nasal Cannula Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/nasal-cannula-market-2694

High prevalence of COPD may lead to increasing demand for nasal cannula, thereby boosting the global nasal cannula market growth over the forecast period. According to World Health Organization (WHO), approximately 65 million people suffer from moderate to severe COPD and around 3 million deaths are recorded every year globally. Moreover, COPD is the third leading cause of death worldwide. According to the same source, acute lower respiratory tract infections are responsible for around 4 million deaths in children aged less than 5 years, worldwide annually. Moreover, preterm infants are associated with complications related to breathing difficulties. According to WHO, in 2018, approximately 15 million infants were born premature, worldwide. Nasal cannula can be used to give an accurate amount of airflow to children. Therefore, increasing prevalence of COPD in children and adults is expected to drive the global nasal cannula market growth over the forecast period.

Key Takeaways of the Global Nasal Cannula Market:

  • The global nasal cannula market is expected to exhibit a CAGR of 4% over the forecast period (2018–2026), due to vast number of products offered by manufacturers, which broadens the range of available options to customers
  • Increasing prevalence of diseases such as lung cancer, stroke, and COPD may lead to high demand for nasal cannulas, thereby supporting the global nasal cannula market growth over the forecast period
  • 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

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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