NEWARK, Del, March 05, 2024 (GLOBE NEWSWIRE) -- The high flow nasal cannula market is poised to undergo a reduction, projected to diminish from US$ 1,369.3 Million in 2024 to US$ 1,063.0 Million by 2034. The market is expected to observe a downturn, characterized by a CAGR of -2.5%, during the forecast period from 2024 to 2034.
Investments in healthcare infrastructure development, particularly in developing countries, create opportunities for high flow nasal cannula manufacturers to expand their market presence and address unmet medical needs. Infrastructure improvements, including the establishment of specialized respiratory care centers and critical care facilities, support the integration of cannula therapy into routine clinical practice.
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There is an increasing focus on preventive healthcare measures aimed at reducing the incidence and severity of respiratory illnesses. The cannula therapy, with its ability to provide early intervention and prevent respiratory deterioration, aligns with preventive healthcare strategies, driving demand for proactive respiratory management solutions.
There is a growing trend towards providing healthcare services in homecare settings to reduce hospital admissions and healthcare costs. The cannula devices with user friendly interfaces and simplified maintenance requirements enable patients to receive respiratory therapy at home, promoting convenience and improving quality of life.
The integration of artificial intelligence and machine learning algorithms into the cannula devices enables real time data analytics, predictive modeling, and decision support capabilities. AI driven high flow nasal cannula systems can analyze patient data, identify clinical trends, and recommend personalized therapy adjustments, empowering healthcare providers to optimize treatment protocols and enhance patient outcomes.
“Adoption of rapid prototyping and 3D printing technologies enables rapid design iteration and customization of high flow nasal cannula devices to meet specific clinical requirements. Manufacturers leverage these technologies to accelerate product development cycles, reduce production costs, and address niche market segments, fostering innovation and market differentiation,” - remarks Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways from the Global High Flow Nasal Cannula Market Study
- The global high flow nasal cannula market was valued at US$ 1,494.8 million in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of 22.5%.
- The market in Germany is expected to expand at a CAGR of 3.0% through 2034.
- By application, the acute respiratory failure segment to account for a share of 42.0% in 2024.
- The market in India is expected to expand at a CAGR of 1.7% through 2034.
- In terms of end users, the hospitals segment will account for a share of 46.0% in 2024.
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Competitive Landscape from the Global High Flow Nasal Cannula Market:
Top 11 Key Companies Profiled in the High Flow Nasal Cannula Market:
- CR BARD Inc.
- Fisher & Paykel Healthcare Limited
- Vapotherm Inc.
- Teleflex Incorporated
- Teijin Pharma Limited
- TNI Medical AG
- ResMed Corporation
- Smiths Medical
- MEK-ICS Co. Ltd.
- Hamilton Medical AG
- Flexicare Medical Limited (UK)
Company Portfolio
- Teleflex Incorporated is a diversified healthcare company with a presence in the market through its respiratory division. The company manufactures and distributes high flow nasal cannula devices, humidification systems, and airway management solutions. Teleflex prioritizes product quality, regulatory compliance, and customer satisfaction to maintain its competitive edge in the market.
- ResMed is a global leader in sleep apnea and respiratory care solutions, expanding its portfolio to include high flow nasal cannula therapy devices. The cannula systems of the company incorporate advanced features such as wireless connectivity, data analytics, and patient monitoring capabilities. The company leverages its strong brand reputation, distribution network, and research expertise to drive adoption and market growth.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global high-flow nasal cannula market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the high-flow nasal cannula market, the market is segmented on the basis of component (air/oxygen blenders, active humidifiers, nasal cannulas, heated inspiratory circuits, consumables), medical application (acute respiratory failure, chronic obstructive pulmonary disease, bronchiectasis, carbon monoxide toxicity, sleep apnea, acute heart failure), and end user (hospitals, specialty clinics, long term care centers, ambulatory care centers, homecare settings), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa).
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Segmentation Analysis of the High Flow Nasal Cannula Market:
By Component:
- Air/Oxygen Blenders
- Active Humidifiers
- Nasal Cannulas
- Heated Inspiratory Circuits
- Consumables
By Medical Application:
- Acute Respiratory Failure
- Chronic Obstructive Pulmonary Disease
- Bronchiectasis
- Carbon Monoxide Toxicity
- Sleep Apnea
- Acute Heart Failure
By End User:
- Hospitals
- Specialty Clinics
- Long Term Care Centers
- Ambulatory Care Centers
- Homecare Settings
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
About the Healthcare Division at Future Market Insights
The healthcare team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Million+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
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