Market Overview: In 2020, the global nasal cannula market demonstrated significant strength, and a steady revenue Compound Annual Growth Rate (CAGR) is anticipated over the forecast period. Key drivers for the market’s revenue growth include the availability of improved nasal cannulas made from soft materials, a rising incidence of chronic respiratory illnesses, and a high acceptance rate for single-use nasal cannulas.
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A nasal cannula, functioning as a medical device, is a small, flexible tube with two open prongs inserted into the patient’s nostrils. Connected to an oxygen source, it delivers a continuous stream of medical-grade oxygen through the nose, aiding patients in breathing more easily. Nasal cannulas are particularly useful for patients with low oxygen concentrations, and high-flow options are available for increased oxygen concentrations. Compared to other oxygen delivery methods, nasal cannulas are less intrusive, allowing normal eating and talking. They are also portable.
Major Factors Driving Growth of the Global Nasal Cannula Market: The growth of the global nasal cannula market is propelled by the increasing prevalence of respiratory illnesses due to factors such as rising air pollution, changing climatic conditions, a growing number of smokers, and lifestyle changes. Manufacturers worldwide are responding to the rising demand for nasal cannulas. These devices are suitable for stable patients requiring low-flow, low, or medium concentrations of oxygen, adapting to the patient’s breathing rate and pattern. Nasal cannulas facilitate normal activities like eating and drinking for patients with chronic stable respiratory difficulties and reduce the risk of carbon dioxide rebreathing.
Factors Restraining Growth of the Global Nasal Cannula Market: The growth of the global nasal cannula market faces hindrances due to adverse factors. Nasal dryness, a common side effect of using nasal cannulas, results from the delivery of cold, dry oxygen to the patient’s nostrils. Long-term usage is associated with pulmonary oxygen toxicity, potentially causing damage to the airways, eyes, and lungs.
Opportunities for Players in the Global Nasal Cannula Market: Key players in the market are focusing on research and development (R&D) and technical innovation to provide more flexible and comfortable nasal cannulas. This enhances the utility of nasal cannulas in treating various conditions. The growing e-commerce capability and extensive distribution networks of companies contribute to increased product availability worldwide, fostering the acceptance of these products and, consequently, market growth.
Global Nasal Cannula Market Revenue Led by Type Segment: The low-flow nasal cannula segment is expected to dominate the market in terms of revenue over the forecast period. Low-flow nasal cannulas are gaining popularity in long-term care, ambulatory care, and home care settings due to their suitability for maintaining patients in stable conditions. Additionally, low-flow nasal cannulas are cost-effective compared to high-flow options, securing a larger market share.
Global Nasal Cannula Market Leading End-use Segment: Hospitals are expected to be the dominant end-use segment in terms of revenue generation over the forecast period. Factors contributing to this growth include a rising number of patients with long-term respiratory distress, an increasing geriatric population, and the adoption of high-flow nasal cannulas for severe respiratory distress in hospital settings.
North America Accounts for the Largest Revenue Share in the Global Nasal Cannula Market: In 2020, North America emerged as the largest market for nasal cannulas, attributing its revenue growth to the increasing use of continuous positive airway pressure (CPAP) and non-invasive ventilation (NIV) devices for patients with respiratory disorders. The region benefits from ongoing technological advancements and a well-developed healthcare infrastructure. Major companies in North America are expanding their manufacturing capacity of high-flow nasal cannula devices, further contributing to market growth.
Asia Pacific Continues to Lead in Terms of Revenue CAGR: The Asia Pacific nasal cannula market is projected to register the fastest Compound Annual Growth Rate (CAGR) over the forecast period. Factors driving this growth include the increasing number of local manufacturers, rising healthcare expenditures, a growing elderly population, and a higher prevalence of COPD and asthma in emerging economies.
Major Companies Profiled in the Report:
- Allied Healthcare Products, Inc.
- Teleflex Incorporated
- Flexicare Medical Ltd.
- Vapotherm Inc.
- ResMed Inc.
- Fairmont Medical
- Fisher & Paykel Healthcare Limited
- Well Lead Medical Co. Ltd.
- Salter Labs
Strategies and Objectives of Major Companies: In May 2019, Fisher & Paykel Healthcare introduced the Optiflow 3S nasal cannula, designed for Optiflow nasal high-flow treatment delivery. The cannula features innovative elements, including breathable headgear, a redesigned philtrum pillow, and side-swapping. Combined with Fisher & Paykel Healthcare’s patented Evaqua technology, it is touted as the most comfortable and stable nasal cannula developed by the company.
Detailed Segmentation in Our Report: For this report, the global nasal cannula market is segmented based on type, material, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Low Flow Nasal Cannula
- High Flow Nasal Cannula
Material Outlook (Revenue, USD Billion; 2018-2028)
Application Outlook (Revenue, USD Billion; 2018-2028)
- Cardiovascular Surgery
- Oxygen Therapy
- General Therapy
- Plastic Surgery
- Orthopedic Surgery
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Ambulatory Healthcare Services
- Long Term Care Centers
Region Outlook (Revenue, USD Billion; 2018-2028)
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East & Africa)
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