ALBANY, New York, May 20, 2019 /PRNewswire/ -- According to the
statistics provided in the TMR's report, the global high-flow nasal
cannula market is anticipated to attain a value of
US$9.08 bn at the end of the forecast
period between 2017 and 2025, progressing from US$3.42 bn earned in 2016. The market is expected
to rise at 11.8% CAGR over this period. These figures attribute to
the growing importance of high-flow nasal cannula for individuals
suffering from respiratory disorders.
Among the various components available, the demand for active
humidifier is high and is likely to hold dominant share in the
global high-flow nasal cannula market. Technological innovations
carried out by health care solution providers and manufacturers
fueled demand for active humidifiers. Based on regional growth,
North America is leading the
global market for high-flow nasal cannula due to the significant
rise in the number of people suffering with respiratory diseases.
Supportive reimbursement policies has also made the region lead the
market. Europe and Asia Pacific are contributing towards the
expansion of the high-flow nasal cannula market.
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High Applicability in Treating Respiratory Diseases to Boost
Market Performance
Increasing number of respiratory disorders is the key factor
that led the demand for high-flow nasal cannula. Growing
application of the high-flow nasal cannula while treating patients
suffering from COPD (chronic obstructive pulmonary disease), acute
heart failure, carbon monoxide toxicity, bronchiectasis, acute
respiratory failure, sleep apnea, and others is likely to boost the
market's growth.
Additionally, the heated humidified high-flow nasal cannulas
have gained huge popularity and increasing understanding about the
advantages of high-flow nasal cannulas has boosted growth in this
market. Huge investments made in research and development
activities by vendors to develop better products by using advanced
and sophisticated technologies is offering new growth opportunities
in the global high-flow nasal cannula market.
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Emphasis on Developing Low Cost Products to Drive Demand for
High-Flow Nasal Cannula
Limitation of the high-flow nasal cannula therapy is the key
restraint that is hampering the growth in the global high-flow
nasal cannula market. But with high tolerability and easy
application among pediatric and neonates patients will help in
overcoming this restraint. Furthermore, effective evaluation
process of this system on pediatric patients having different cause
of respiratory diseases, quality clinical outcomes, and quality
improvement to provide better treatment to patients in medical and
surgical units will boost the market's growth.
Moreover, increasing emphasis of local players in developing
cost-effective products is also expected to benefit growth in the
global high-flow nasal cannula market. Increasing focus of health
organizations across the globe towards home healthcare is further
contributing in driving growth in this market.
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The global high-flow nasal cannula market will experience high
growth in the forthcoming years, observes Transparency Market
Research (TMR). Competition among key players is expected to
increase, as players are engaged in research and development
activities to provide better and advanced products to their
customers. They are also investing in establishing strategic
alliances by carrying out various organic and inorganic
activities.
Few prominent players in the global high-flow nasal cannula
market are Vapotherm, Inc., TNI medical AG, Becton, Smiths Medical,
Teleflex Incorporated, Salter Labs, and Flexicare Medical Limited.
Recently, HUMIDOFLO HF-2900, a GGM's high flow oxygen system
received an award at the Taiwan Excellence Awards. This device
provides effective treatment to both adult and pediatric patients.
It presents a new state of art technology for delivering high
standard high flow therapy.
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The study presented here is based on a report by Transparency
Market Research (TMR) titled "High-flow Nasal Cannula Market
(Component - Air/Oxygen Blender, Active Humidifier, Single Heated
Tube, and Nasal Cannulas; Application - Acute Respiratory Failure,
Chronic Obstructive Pulmonary Disease (COPD), Acute Heart Failure,
Carbon Monoxide Toxicity, Sleep Apnea, and Bronchiectasis; End User
- Hospitals, Long-term Care Centers, and Ambulatory Care
Centers) - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2017 - 2025."
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