Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The Global Nasal Cannula Market, by Product Type (Low-flow Cannula, High-flow Cannula, and Others), by Application (Cancer, Respiratory Diseases, Cardiovascular Diseases, and Others), by End User (Hospitals, Neonatal Intensive Care Units, Home Care Settings, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 4,234.5 million in 2017 and is estimated to exhibit a CAGR of 7.4% over the forecast period (2018-2026).
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The global nasal cannula market is expected to witness significant growth over the forecast period. This is attributed to factors such as product development, coupled with high prevalence of diseases such as chronic obstructive pulmonary respiratory diseases (COPD), lung cancer, and stroke. Moreover, initiatives taken by several organizations related to treatment and awareness of respiratory diseases is further expected to drive the global nasal cannula market growth over the forecast period. Key players are focusing on developing new products and introducing new technology in the market. For instance, in January 2016, UODPS LLC launched a product: Uniflo-2 single nasal cannula, which was designed using ultra-smooth materials and is free from rubber latex, which minimizes the exposure to Di-2-ethylhexyl phthalate (DEHP), thereby preventing irritation. It consists of memory stabilizer and ensures continuous flow of air. Furthermore, in June 2018, the company conducted a survey wherein opinions were recorded from COPD patients using Uniflo 2 single nasal cannula. The study revealed that around 98% patients found this cannula as more comforting compared to dual prong nasal cannula. It allows minimum skin contact so as to avoid skin irritation, which occurs in dual prongs and is almost half in weight as compared to dual prong nasal cannulas.
Moreover, in October 2018, Vapotherm Inc. received an approval from the U.S. Food and Drug Administration (FDA) for Precision Flow Hi-VNI system (respiratory system), which involves designed nasal cannulas that assist high flow oxygen therapy.
Browse 26 Market Data Tables and 32 Figures spread through 168 Pages and in-depth TOC on Global Nasal Cannula Market, by Product Type (Low-flow Cannula, High-flow Cannula, and Others), by Application (Cancer, Respiratory Diseases, Cardiovascular Diseases, and Others), by End User (Hospitals, Neonatal Intensive Care Units, Home Care Settings, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2026
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Additionally, high prevalence of COPD is driving demand for nasal cannula, which is further expected to augment the global nasal cannula market growth over the forecast period. For instance, according to the World Health Organization (WHO), around 65 million people suffer from moderate to severe COPD and around 3 million deaths are recorded every year, across the globe. Moreover, COPD is the third leading cause of death worldwide. According to the WHO, acute lower respiratory tract infections are responsible for around 4 million deaths in children aged less than 5 years, each year, globally.
Furthermore, preterm infants are associated with complications related to breathing difficulties. For instance, according to the WHO, in 2018, around 15 million infants were born premature, globally. Nasal cannula can be used to give an accurate amount of airflow to children. Therefore, increasing prevalence of COPD in children and adults are expected to propel the global nasal cannula market growth over the forecast period.
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Key Takeaways of the Global Nasal Cannula Market:
- The global nasal cannula market is expected to exhibit a CAGR of 7.4% over the forecast period (2018-2026), attributed to increasing number of products offered by manufacturers, which broadens the range of available options to customers
- The increasing prevalence of diseases such as lung cancer, stroke, and COPD is expected to drive demand for nasal cannulas, which is expected to drive the global nasal cannula market growth over the forecast period
- Key players operating in the global nasal cannula market include Sunset Healthcare Solutions Inc., Flexicare Ltd., medin Medical Innovations GmbH, Salter Labs, Smiths Medical, Teleflex Inc., Neotech Products, Fairmont Medical, Medline Industries Inc., and Hamilton Medicals
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