DUBAI, U.A.E, July 15, 2020
DUBAI, U.A.E, July 15, 2020 /PRNewswire/ -- Market research company Future Market Insights' projections on the high flow nasal cannula market reveal that the market is slated to be valued at ~US$ 18 Bn by 2030.
Growing prevalence of respiratory disorders have led to an increase in the uptake of high-flow nasal cannula (HFNC) devices. The Center for Disease Control and Prevention (CDC) acknowledges the high-flow nasal cannula oxygenation therapy as a standard recommended therapy across the United States, especially during the COVID-19 pandemic.
Following this development, healthcare providers are facilitating extensive research on how to better integrate this technology in providing relief for severely infected patients. In the pre-COVID-19 scenario, HFNC was being administered to patients with acute respiratory distress syndrome (ARDS) and acute lung injury (ALI). These conditions were responsible for a majority of respiratory casualties.
Such extensive applications to correct respiratory anomalies is anticipated to sustain the market demand for HFNC treatment solutions and devices throughout the forecast period.
"While COVID-19 is the primary growth accelerator for the short-term, prevalence of other chronic respiratory ailments will sustain HFNC demand for the remaining forecast," opines an FMI analyst.
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Key Takeaways from FMI's High Flow Nasal Cannula Market Report
High Flow Nasal Cannula Market- Key Trends
High Flow Nasal Cannula Market: Region-wise Analysis
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High Flow Nasal Cannula Market: Competitive Landscape
The high flow nasal cannula market is characterized by the presence of numerous players, making the market highly fragmented. The players are capitalizing on new product launches to acquire a market foothold.
For instance, in Jan 2019, ResMed unveiled its MOBI portable oxygen concentrator across the US market to address patients suffering from chronic obstructive pulmonary disease (COPD). Later that year, in May 2019, Fisher & Paykel Healthcare Ltd. launched the Optiflow 3S nasal cannula technology.
Likewise, Teleflex launched the Hudson RCI Comfort Flo Plus Cannula which concentrates on administering oxygen to the upper airway dead space, providing a greater level of comfort.
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High Flow Nasal Cannula Market Taxonomy
Middle East & Africa (MEA)
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High flow nasal cannula market, a new study from Future Market Insights, states the indications of high flow nasal cannula from 2015 to 2019 and presents demand projections from 2020 from 2030 on the basis of components (air/oxygen blender, active humidifier, nasal cannulas, heated inspiratory circuit, and consumables), application (acute respiratory failure, chronic obstructive pulmonary disease (COPD), bronchiectasis, carbon monoxide toxicity, sleep apnea, acute heart failure, and others), and end user (hospitals, specialty clinics, long-term care centers, ambulatory care centers, and homecare setting) across seven prominent regions.
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