The global high flow nasal cannula market size reached USD 6 billion in 2022 and is projected to hit around USD 16.96 billion by 2032, registering a CAGR of 11% from 2023 to 2032.
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The U.S. high flow nasal cannula market size Surpassed USD 1.32 billion in 2022 and is expected to reach around USD 3.81 billion by 2032, growing at a CAGR of 11.20% from 2023 to 2032.
North America is estimated to be the Largest Market for High Flow Nasal Cannula
The research report covers key trends and prospects of high flow nasal cannula products across different geographical regions including North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Geographically, high flow nasal cannula market is conquered by North America owing to increasing prevalence of COVID-19, coupled with presence of key player in the countries of the region. Further, high prevalence of respiratory diseases as well as well-established healthcare facilities United States, Canada will augment target market industry in future. Asia Pacific is expected to register the fast growth rate, on account of expanding high flow nasal cannula manufacturing capacity, coupled with presence of leading companies in the countries of Asia Pacific.
Emerging applications of high flow nasal cannula are anticipated to create potential opportunities for the key players operating in global market. Due to outbreak of COVID-19, usage of high flow nasal cannula has been increased and has created tremendous opportunities for the major companies worldwide. Major players in the global market are focusing on the development of cost-effective advanced products to enhance market position. Increasing popularity and uptake of heated humidified high-flow nasal cannulas is key factor to propel industry growth over the forecast period 2023-2032. Further, ever-increasing number of respiratory disorders is growing at an alarming rate and in order treat such diseases adoption of high flow nasal cannula will continue to increase over next few years.
|Growth Rate from 2023 to 2032||CAGR of 11%|
|Market Size in 2023||USD 6.63 Billion|
|Market Size by 2032||USD 16.96Billion|
|Forecast Period||2023 to 2032|
|Historic Data||2020 to 2021|
|Segments Covered||Product, Application, End-User, Sales Channel, Region|
|Companies Mentioned||Armstrong Medical Ltd, Salter Labs Inc, ResMed, Inc., Teleflex Inc, Vapotherm Inc., Becton Dickinson, and Company, Smiths Medical, Flexicare Medical Ltd, Teijin Pharma Limited|
COVID-19 Impact on Global High Flow Nasal Cannula Market
Outbreak of COVID-19 has affected most of industries operating across the globe, however COVID-19 is projected to have positive impact on the target market as the use of high flow nasal cannula is finding special significance. The outbreak of COVID-19 has forced the key operating players to launch innovative products. The centers for disease control and prevention have acknowledged oxygenation therapy by high flow nasal cannula as ideal and recommended for the treatment of COVID-19.
Crucial Factors Accountable for Market Growth Are:
Future of Global High Flow Nasal Cannula Market
Usage of high flow nasal cannula has been increased, due to ongoing COVID-19 pandemic that can have positive impact on the growth of the high flow nasal cannula industry over the forecast period. Additionally, growing attractiveness and uptake of heated humidified high-flow nasal cannulas across the world will enhance the target industry growth in the near future. Due to its excellent benefits heated humidified high-flow nasal cannulas are used to treat the patients with severe COVID-19.
Active humidifier Product Type Segment Estimated Foremost Market Stake In 2022
Active humidifier recorded the prime market share in the global high flow nasal cannula market by product type in 2020. Increased adoption of active humidifier in increased as it offers heated and humidified breathing gas which preserves the viscosity of the mucus which in turn maintains the ciliary activity. Nasal cannulaproduct type segment is predictable to rise at a noteworthy CAGR during the forecast time-frame.
Acute Respiratory Disorder Segment Estimated to Hold Major Market Share over the Forecast Period
Acute respiratory disorder application is anticipated to dominate the target market by application during the forecast period 2023-2032. Growing demand for high flow nasal cannula in order to treat acute respiratory disorders worldwide is propelling growth of the segment. Acute respiratory failure (ARF) is a critical condition HFNC therapy to the patients in the helps to decrease the intubation rate and increase the patient’s comfort level. However, chronic respiratory disorder segment is expected to rise at a significant CAGR during the forecast time-frame.
Hospitals and Clinics Segment is Predictable to Dominate the End-user Segment of High Flow Nasal Cannula Market Revenue
On the basis of end-user segment the global market is segregated into hospitals and clinics, long-term care centers, ambulatory care centers and others. Hospitals and clinics end-user segment is expected to dominate in terms of revenue over the forecast time frame. Ambulatory care centers end-user segment will expand at a significant CAGR during the forecast time-frame. The growth is attributed to owing to increasing demand for modern healthcare facilities that do not require overnight stay in developed countries across the globe which is in turn fueling the growth of the segment.
Distribution Channel Segment is expected to Dominate the Sales Channel Segment of High Flow Nasal Cannula Market Revenue
On the basis of the sales channel segment, the distribution channel end-user segment is expected to dominate in terms of revenue over the forecast time frame. Direct distribution sales channel segment will expand at a noteworthy CAGR during the forecast time-frame.
The companies focusing on research and development are expected to lead the global high flow nasal cannula market. Leading competitors contending in global high flow nasal cannula market are as follows:
In order to better recognize the current status of high flow nasal cannula, and policies adopted by the foremost countries, Precedence Research predicted the future evolution of the high flow nasal cannula market. Research study offers key insights on high flow nasal cannula market and research analysis of market size and trend for probable global market segments.
Major Market Segments Covered:
By Product Type
By Sales Channel
Middle East & Africa (MEA)
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