Active Humidifier segment is expected to drive the growth of the global High- flow nasal cannula market by Component
According to a new market research study of ‘High- flow nasal cannula to 2027 - Global Analysis and Forecasts by Component, Application and End-User.’ The global High- flow nasal cannula market is anticipated to reach US$ 11,198.78 Mn in 2027 from US$ 4,390.74 Mn in 2018. The market is anticipated to grow with a CAGR of 11.1% from 2019-2027. The report provides trends prevailing in the global High- flow nasal cannula market and the factors driving the market along with those that act as hindrances.
The number of cases of asthma and COPD has been growing all over the world at a substantial rate. In recent years, the number of smokers and the levels of air pollution in developed, as well as developing countries, is increasing across the globe. Asthma is a medical condition where the airways swell and narrow and also produces mucus. This further leads to wheezing, coughing, and recurrent attacks of breathlessness, which differ in severity and frequency from person to person.
According to the World Health Organization estimates, there are approximately 235 million people suffering from asthma around the world. Moreover, the Centers for Disease Control and Prevention (CDC) reported, approximately 19 million adults in the United States (18 years of age or above) are currently suffering from asthma, which accounts for almost 7.7% of the total adult population. Whereas, about 6.2 million patients below 18 years of age have asthma, which accounts for 8.4% of the total children population. Also, according to the WHO estimates published during December 2016, there were around 383,000 deaths due to asthma in 2015.
Thus, the rising prevalence of respiratory conditions such as asthma and COPD and increasing applications of High- flow nasal cannula in treating such diseases is anticipated to fuel the growth of the High- flow nasal cannula market across the globe at an exponential rate.
Moreover, in February 2017, Teleflex completed the acquisition of Vascular Solutions. It is an innovative medical device company that develops solutions for clinicians to assist them in minimally invasive coronary and peripheral vascular procedures. The acquisition aims to enhance Teleflex’s business of interventional procedures. Thus, partnerships, mergers, acquisitions and collaborations are expected to propel the growth of High- flow nasal cannula market over the forecast years.
The global High- flow nasal cannula market, based on component, was segmented as air oxygen blender, nasal cannula, heated inspiratory circuit and active humidifier. Active humidifier led the high-flow nasal cannula market in 2018, contributing a 33.11% share to the total market; it is expected to retain its dominance during the forecast period to account for a share of 34.66% of the overall market by 2027.
The leading companies operating in the High- flow nasal cannula market include Great Group Medical Co., Ltd., Salter Labs, Fisher and Paykel Healthcare Limited, TNI Medical Ag, Mek-Ics Co., Ltd., Flexicare Medical Limited, Vapotherm, Teleflex Incorporated, Resmed, Inc, Hamilton Medical, among others. The market has observed different organic and inorganic advancements during recent years in the High- flow nasal cannula market. For instance, in November, 2015 CareFusion, a subsiadiary of BD company signed an exclusive agreement with ResMed to distribute innovative nasal High- flow interface products from the company.
The report segments global High- flow nasal cannula market as follows:
Global High-Flow Nasal Cannula Market - By Component
Global High-Flow Nasal Cannula Market - By Application
Global High-Flow Nasal Cannula Market - By End User
Global High-Flow Nasal Cannula Market - By Geography
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