According to The Insight Partners market research study of ‘High-Flow Nasal Cannula Market 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 market along with those that act as hindrances.
The global high-flow nasal cannula market, based on the component, is segmented into air oxygen blender, nasal cannula, heated inspiratory circuit, and active humidifier. The application segment is segmented into bronchiectasis, acute respiratory failure, acute heart failure, chronic obstructive pulmonary disease. The end user segment is segmented into ambulatory care centers, hospitals, and long-term care centers.
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The market for high-flow nasal cannula is expected to grow, owing to factors such as growing incidences of asthma and COPD across the globe and growing geriatric population in high-flow nasal cannula products. Moreover, emerging markets in Asia pacific region are likely to have a positive impact on the growth of the market in coming years.
The High Flow Nasal Cannula market is expected to witness substantial growth post-pandemic. The High Flow Nasal Cannula market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems.
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Similarly, the number of patients suffering from COPD across the globe is growing. Chronic obstructive pulmonary disease (COPD) is a long term lung disease that causes shortness of breath, chest tightness, chronic cough, respiratory infections, wheezing, and others. According to the WHO Global Burden of Disease Study report, in 2016, globally, around 251 million people were suffering from COPD.
Furthermore, the report also mentioned that approximately 3.17 million deaths across the globe were caused due to COPD in the year 2015, which accounts for almost 5% of all deaths in 2015. In recent years, the prevalence of COPD in developed nations is also increasing. For instance, COPD is the third leading cause of death in the United States, and over 11 million patients in the US have been diagnosed with COPD. 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.
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