NEWARK, Del, June 21, 2023 (GLOBE NEWSWIRE) -- The high-flow oxygen therapy devices market is forecast to expand at 0.5% CAGR over the estimated period, as per FMI's analysis. The industry's size is predicted to reach a market value of US$ 1,494.8 Million in 2023.
The market is projected to be positively influenced by device manufacturing and development advances. Another factor pushing the market forward is the high disease epidemiology of serious respiratory diseases.
Robust healthcare infrastructure and the presence of seasoned medical assistive devices in developed economies are pushing the market growth. Manufacturers can capitalize on the growing demand for patient-specific devices, projected to augment the high-flow oxygen therapy devices industry.
The market is projected to be negatively affected by high costs, patient discomfort, and a shortage of trained healthcare personnel. In addition, numerous product recalls are expected to hinder the demand for high-flow oxygen therapy devices.
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Top Highlights from the FMI’s Analysis of the High-flow Oxygen Therapy Devices Market:
- The North America high-flow oxygen therapy devices industry is projected to attain a 29.8% value share in 2022.
- The United States high-flow oxygen therapy devices industry rules the North America market. The nation’s share in the market in 2022 was 28.7%.
- The Europe market gained a 16.6% value share in 2022.
- Germany has enjoyed a significant share of the high-flow oxygen therapy devices industry by attaining a 4.5% market share in 2022.
- The Japan high-flow oxygen therapy devices industry gained a market share of 7.8% in 2022.
- The Australian market is projected to register a CAGR of -0.7% from 2023 to 2033.
- The China high-flow oxygen therapy devices industry is expected to expand at 0.8% in the forecast period.
- The Indian market is anticipated to record a CAGR of -0.3% in the coming years.
- The United Kingdom's high-flow oxygen therapy devices industry is projected to register a CAGR of -0.3% in the forthcoming years.
- Based on product, the heated humidifiers segment attained a 48.18% market share in 2022.
- Based on the application, acute respiratory failure is projected to acquire more than 90.46% in 2023.
- Under the end-user category, the '500 beds and above' segment procured a market share of 51.5% in 2022.
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Market Update: New Developments Taking Place in the Market
- Movair, previously called International Biophysics Corporation, released Luisa in October 2021. The latter is a complex ventilator for use in institutions, homes, and hospitals or for portable applications for invasive and non-invasive ventilation. To cater to the increasing demand for effective and safe ventilators, Luisa was introduced to the masses post the FDA's Emergency Use Authorization.
- Noccarc Robotics Pvt. Ltd, which is IIT Kanpur incubate firm, introduced the Noccarc H210 in August 2020. This device was effective in treating COVID-19 patients.
- Goa Medical College bought 274 Carina ventilators in 2020. These ventilators were bought from Draeger in the initial months of the COVID-19 outbreak.
- Inspired Medical stated that its Inspired O2FLOTM gained FDA permission for emergency use in May 2020. The device can be deployed to treat patients suffering from hypoxemia or other serious respiratory symptoms.
Key Players are:
- Draegerwerk AG & Co. KGaA
- Teleflex Medical GmBH
- Philips Respironics
- Vapotherm, Inc.
- ResMed
- Vyaire Medical, Inc.
- Fisher & Paykel Corporation Ltd.
- Armstrong Medical
- Flexicare Medical
- Hamilton Medical Inc.
- Intersurgical Inc.
- Inspired Medical
- WILAMed GmBH
- Besmed Health Business Corp
- Shenzhen Micomme Medical Technology Development Co. Ltd
- Shenyang RMS Medical Tech Co. Ltd.
- BMC Medical Co., Ltd.
Market by Categorization:
By Product:
- High-flow Nasal Cannulas
- High-flow Oxygen Masks
- Breathing Circuits
- Heated Humidifiers
- Accessories
By Application:
- Pneumonia
- Acute Respiratory Failure
By End User:
- Less than 100 Beds in Hospitals
- 100 to 250 Beds Hospitals
- 250 to 500 Beds Hospitals
- 500 Beds and Above Hospitals
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Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product, 2023 to 2033
5.3.1. High Flow Nasal Cannulas
5.3.2. High Flow Oxygen Masks
5.3.3. Breathing Circuits
5.3.4. Heated Humidifiers
5.3.5. Accessories
5.4. Y-o-Y Growth Trend Analysis By Product, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Product, 2023 to 2033
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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