New York, United States , May 29, 2024 (GLOBE NEWSWIRE) -- The Global Nasal Cannula Market Size to Grow from USD 7.95 Billion in 2023 to USD 14.82 Billion by 2033, at a CAGR of 6.43% during the forecast period 2023-2033.
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A nasal cannula is a medical device that uses the nose to deliver additional oxygen to patients, frequently referred to as oxygen treatment or supplementary oxygen. A tiny, flexible tube called a nasal cannula is inserted into the nose and wrapped around the head. Two spikes are used to provide oxygen within the nostrils. The oxygen cylinder is fixed to the tube. Nasal cannulas are classified into two categories: high-flow and low-flow. A nasal cannula can help those who are unable to breathe or who do not get enough oxygen into their system. Numerous medical disorders, such as asthma, heart failure, pneumonia, COVID-19, pulmonary fibrosis, and chronic obstructive pulmonary disease, can be managed with nasal cannulas. The increasing number of geriatric populations can increase the chances of asthma and COPD. Additionally, patients with respiratory diseases frequently need high-flow oxygen therapy through the nasal cannula. Thus, the rising demand for nasal cannula is boosting the growth of the nasal cannula market during the predicted time period. However, the increasing use of nasal cannulas can cause several bacterial infections that bacteria or viruses transmit through the cannula. Furthermore, using long-term oxygen therapy can cause severe side effects, such as lung damage, eye damage, and airway damage (pulmonary oxygen toxicity can restrain the growth of the nasal cannula market over the predicted timeframe
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Nasal Cannula Market Size, Share, and COVID-19 Impact Analysis, By Type (Low Flow and High Flow), By Material (Silicon and Plastic), By End-User (Hospital, Specialty Clinic, Long Term Care Center, ASC and Homecare), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The low flow segment dominates the market with the largest revenue share through the forecast period.
Based on the type, the global nasal cannula market is segmented into low flow and high flow. Among these, the low-flow segment dominates the market with the largest revenue share through the forecast period. Low-flow nasal cannulas usually serve to provide patients with respiratory disorders with carefully and accurately controlled amounts of oxygen. Those with limited budgets may acquire nasal cannulas, and they are an excellent choice for those who frequently need oxygen supplements.
The plastic segment dominated the global nasal cannula market in 2023.
Based on the material, the global nasal cannula market is segmented into silicon and plastic. Among these, the plastic segment dominated the global nasal cannula market in 2023. Plastic nasal cannulas are widely available and less expensive for manufacturers to manufacture than silicon ones. Because of their affordability, which is particularly important in countries with forecast limitations, they are typically utilized in a variety of healthcare sectors. Patients who have been using plastic nasal cannulas for numerous years’ experience improved comfort and flexibility.
The hospital segment accounted for the largest market share in 2023.
Based on the end-user, the global nasal cannula market is segmented into hospital, specialty clinics, long-term care center, ACS, and homecare. Among these, the hospital segment accounted for the largest market share in 2023. A larger market share is indicated by the increasing use of high-flow nasal cannulas for severe respiratory illnesses, which require high flow. It is anticipated that patients with chronic respiratory conditions and elderly people will fuel market expansion. The positive effects of early detection and treatment of respiratory issues are becoming more widely known to patients and healthcare professionals, which may support market growth.
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North America dominates the market with the largest market share over the forecast period.
North America dominates the market with the largest share over the forecast period. The region's market is growing due to the high incidence of respiratory illnesses, well-developed healthcare facilities, and attractive compensation regulations. This region's dominance in the nasal cannula market is caused by the presence of major companies in the industry, cutting-edge technology, and a strong emphasis on enhancing respiratory care. These factors are propelling the growth of the nasal cannula market over the forecast period.
The Asia-Pacific region is expected to grow at the fastest rate during the predicted timeframe. Growing healthcare expenditures and increasing local manufacturing companies are driving the growth of the market. Furthermore, throughout the forecast period, the Asia-Pacific nasal cannula market is expected to develop due to better healthcare facilities, a growing approach to healthcare services, and rising demand for home healthcare solutions.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global nasal cannula market are ResMed Inc., Teleflex Incorporated, Fisher & Paykel Healthcare Limited, Allied Healthcare Products Inc., Vygon, Salter Labs, Besmed Health Business Corp., Great Group Medical Co. Ltd., Drive DeVilbiss Healthcare, Progetti S.r.l., Flexicare Medical, MAQUET Holding B.V. & Co. KG, GALEMed Corporation, Fairmont Medical, Vapotherm Inc., Smiths Medical and Other Key Players.
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Recent Developments
- In November 2023, Smiths Medical launched its new OptiflowTM 5 HFNC system, developed for both geriatric and pediatric patients.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global nasal cannula market based on the below-mentioned segments:
Global Nasal Cannula Market, By Type
- Low Flow
- High Flow
Global Nasal Cannula Market, By Material
- Silicon
- Plastic
Global Nasal Cannula Market, By End-User
- Hospital
- Specialty Clinic
- Long Term Care Center
- ASC
- Homecare
Global Nasal Cannula Market, Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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