SEATTLE, Dec. 22, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global nasal cannula market is estimated to be valued at US$ 6,801.7 million in 2021 and is expected to exhibit a CAGR of 6.4% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Nasal Cannula Market:
Key trends in the market include increasing prevalence of respiratory diseases such as asthma, lung cancer, COPD, pulmonary diseases.
Key players are engaged in inorganic activities such as collaborations in order to increase research and development activities, which is expected to spur the growth of the global nasal cannula market over the forecast period. For example, on July 20, 2021, BREATHE and IQVIA announced a collaboration for the early diagnosis and treatment of respiratory conditions. BREATHE is health research hub for respiratory health with high quality research and innovation for respiratory conditions and IQVIA is healthcare data science company with human data science technologies. This collaboration aims to improve patient care pathways for people suffering from respiratory diseases, helping researchers to develop new innovations. The aim of this collaboration is to establish UK as a leading health data research facility in healthcare services for attracting pharmaceutical and biotechnology investments.
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Market players are engaged in developing new devices for respiratory diseases owing to the increasing prevalence of asthma and lung cancer, which is expected to drive the growth of the nasal cannula market over the forecast period. For instance, on August 3, 2020, 3B Medical which is manufacturer of sleep therapy and oxygen therapy products has announced the Freedom X oxygen cannula, which is intended to address the nostril irritation caused to patients by nasal cannulas. This supporting device is constructed of ultra-soft silicon material. 3B Medical manufactures innovative sleep and sanitation devices, also the patent is pending for the Freedom X oxygen cannula, which is a nostril contact- free device.
Market players are engaged in research and development activities for the development of new treatments for respiratory diseases in children. This is expected to increase the growth of the global nasal cannula market over the forecast period. For instance, an article published on August 15, 2017 in Scielo journal it is an scientific electronic library online which is database of abstracts and articles based on medicine or life science, based in Brazil stated that the use of high flow nasal cannula in pediatric emergency departments had concluded that specific trials should be performed to determine patients population, whether these treatments are effective and responsive in emergency use for pre-mature infants. This study was conducted on various data published for high flow nasal cannula for children stated that most high flow nasal cannula are used for children suffering from bronchiolitis which is the most common lung infection in children and infants.
Key Market Takeaways:
The increasing prevalence of respiratory diseases is expected to increase the growth of the global nasal cannula market over the forecast period. For instance, a study published in The Lancet Respiratory Medicine is authoritative forum for publication of clinical, medicinal professions where on June 1, 2020 stated that in 2017, approximately 545 million people around the globe suffered from chronic respiratory disease.
Among regions, North America is expected to hold a dominant position in the global nasal cannula market over the forecast period, owing to the increasing prevalence of respiratory diseases among the U.S. population. For example, according to data published by the Centers for Disease Control and Prevention (CDC), chronic lower respiratory diseases, which include asthma, accounted for 47.8% of deaths in the U.S. in 2019.
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Competitive Landscape:
Key players operating in the global nasal cannula market include Medtronic plc., Maquet Holding B.V. & Co. KG, Edward LifeSciences Corp., Terumo Corporation, Sorin Group, Medin Medical innovations, Flexicare Medical, Medtronic PLC, Smiths Medical, Teleflex Incorporated, Vapotherm Inc., Salter Labs, Well Lead Medical Co. Ltd., Drive Devilbiss International, Allied Healthcare Products, Besmed Health Business Corp., and Fairmont Medical.
Market Segmentation:
- Global Nasal Cannula Market, By Product Type :
- Curved prong cannula
- Flared prong cannula
- Straight prong cannula
- Curved and flared prong cannula
- Global Nasal Cannula Market, By Material :
- Plastic
- Silicon
- Global Nasal Cannula Market, By Application :
- Asthma
- Lung cancer
- Chronic bronchitis
- Pulmonary embolism
- COPD
- Emphysema
- Cystic fibrosis
- Pneumonia
- Global Nasal Cannula Market, By End User:
- Hospital
- Long term care center
- Home care settings
- Ambulatory surgical centers
- Others
- Global Nasal Cannula Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- By Country:
- Middle East
- By Country:
-
- GCC
- Israel
- Rest of Middle East
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- Africa
- By Country/Region:
- North America
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- South Africa
- Central Africa
- North Africa
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