The global nasal cannula market was valued at US$ 7,150.00 million in 2022 and is projected to reach US$ 11,717.50 million by 2030. It is expected to register a CAGR of 6.4% in the forecast period.
Market Insights and Analyst View:
A nasal cannula is a medical device used to deliver supplemental oxygen to patients in need. It consists of a thin, flexible tube with two prongs that are inserted into the patient's nostrils. The other end of the tube is connected to an oxygen source, such as an oxygen tank or concentrator. One of the primary advantages of using a nasal cannula is its comfort and ease of use. Patients can continue with their daily activities and even talk while receiving oxygen through the cannula, making it a practical choice for long-term oxygen therapy. It is also a noninvasive method, which means it doesn't require any surgical procedures or puncturing the skin. Nasal cannulas are highly adjustable and can deliver a range of oxygen flow rates, making them suitable for various patient needs. Additionally, they are cost-effective and readily available, making them a preferred option for both healthcare professionals and patients.
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Nasal Cannula Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Nasal Cannula Market: Strategic Insights
Akshay
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Growth Drivers and Opportunities:
The nasal cannula market is experiencing significant growth, largely attributed to the increasing geriatric population. As the world's elderly demographic continues to expand, the demand for medical devices like nasal cannulas, which are commonly used for oxygen therapy, is on the rise. These lightweight and comfortable devices are essential for delivering a controlled flow of oxygen to individuals with respiratory conditions, a common concern among the elderly. The convenience and non-invasiveness of nasal cannulas make them a preferred choice for both patients and healthcare providers. This trend is expected to persist as the elderly population continues to grow, driving innovation and advancements in the nasal cannula market to meet the rising demand for effective respiratory care solutions. According to the United Nations, the global median age has changed notably in the last few decades; it increased from 24 in 1950 to 31 in 2020. This indicates that there has been a rise in the elderly population, along with the overall population, in every country. According to the World Health Organization (WHO), estimates published in October 2022, 1 in 6 people worldwide will be aged 60 or above by 2030; the number is further expected to surge from 1 billion in 2020 to 1.4 billion by 2030 and 2.1 billion by 2050. In addition, the number of people aged 80 and above is expected to reach 426 million by 2050.
According to the Population Reference Bureau (PRB), Italy has 23% senior citizens, followed by Finland, Portugal, and Greece, respectively, ranking among the top five European countries with the highest percentage of geriatric population. 22% of the total population in Finland, Portugal, and Greece, together, is geriatric population. Croatia, Greece, Italy, Malta, Portugal, Serbia, Slovenia, and Spain collectively accounted for 21% of the total elderly population in Europe. Similarly, in the US, the geriatric population accounts for 16% of its total population.
Furthermore, the rising prevalence of respiratory conditions like asthma is also driving the market growth. For instance, the Asthma and Allergy Foundation of America (AAFA) released numbers in April 2022 indicating that around 1 in 13 Americans, or 25 million people, had asthma in 2020. The same source estimates that 5.1 million children in America under the age of 18 have asthma. Furthermore, women are more likely than men to have asthma (9.8% vs. 6.1%). Furthermore, according to the Centers for Disease Control's (CDC) Interactive Summary of Health Statistics for Adults, 3.5% of adults suffered from asthma in 2020. Thus, patients with respiratory conditions frequently need high-flow oxygen therapy delivered by nasal cannulas, which raises demand for the device and accelerates market expansion.
Report Segmentation and Scope:
The "Global Nasal Cannula Market" is segmented based on type, material, end-use, and region. The type of segment of the nasal cannula market is broadly segmented into low-flow nasal cannula and high-flow nasal cannula. The nasal cannula market is classified on the basis of materials such as plastic and silicone. The end-user segment of the nasal cannula market is broadly segmented into hospitals, ambulatory healthcare services, long-term care centers, and others. The nasal cannula market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America)
Segmental Analysis:
Based on type, the nasal cannula market is segmented into low-flow nasal cannula and high-flow nasal cannula, denture products, toothbrushes and accessories, mouthwashes/ rinses, dental accessories/ ancillaries, dental prosthesis cleaning solutions, and other dental products. In 2022, the low-flow segment held the largest revenue share and dominated the market. Low-flow nasal cannulas are becoming more and more popular in long-term care, home care, and ambulatory care settings where low or medium concentration is needed and the patient is in a stable state. Furthermore, the low cost encourages adoption even more, which helps the low-flow nasal cannula get a larger market share. Due to the increasing use of high-flow nasal cannulas for respiratory support in critically sick patients, as well as recent advancements that increase its application in home or low-level healthcare settings, the high-flow nasal cannula market is expanding quickly.
Based on material, the nasal cannula market is segmented into plastic and silicon. Due to its low cost and ease of availability, the plastic nasal cannula dominated the market. It held the largest revenue share in 2020, giving patients-including long-term users-more comfort and flexibility. Conversely, silicone-made nasal cannulas are becoming more and more common, particularly among long-term oxygen therapy patients who have allergies to plastic and who get inflammations, skin irritations, and nose irritations.
The nasal cannula market is classified on the basis of end-use, such as hospitals, ambulatory healthcare services, long-term care centers, and others. The hospital's segment held the largest share of the market in 2020, owing to increasing usage of high-flow nasal cannulas for patients with severe respiratory distress requiring high-flow oxygen. In addition, the aging population and patients experiencing chronic respiratory distress are predicted to fuel the expansion of the nasal cannula market segment in long-term care facilities. Because of the increasing number of older adults, the long-term care center market is predicted to rise significantly in the upcoming years. Furthermore, the need for long-term care facilities is anticipated to rise as more people experience chronic respiratory discomfort.
Regional Analysis:
Based on geography, the global nasal cannula market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Throughout the forecast period, North America is anticipated to maintain a leading position in the worldwide nasal cannula market. In 2023, North America is projected to account for 33.5% of the market share. The development of new products by major industry players to diversify their product offerings in North America is one of the growing organic growth strategies that are anticipated to propel the nasal cannula market into a considerable expansion in the near future. Movair, a respiratory therapy company that was formerly known as International Biophysics Corporation, announced in October 2021 that Luisa, an advanced ventilator meant for use in homes, institutions, hospitals, or portable applications for both invasive and noninvasive ventilation, would be going on sale in the United States. Luisa also has the special ability to alternate, at the touch of a button, between a noninvasive ventilator (NIV) and a high-flow nasal cannula (HFNC) in various modes.
The Asia Pacific region's need for nasal cannulas is predicted to increase as a result of the growing government initiatives. For instance, the United Nations International Children's Emergency Fund, a nonprofit that was assisting in the installation of nine oxygen-generating plants across hospitals in Gujarat, Arunachal Pradesh, and Tripura, faced a significant challenge in June 2021 as India battled the second wave of COVID-19. This was due to a critical shortage of oxygen for treating patients with respiratory diseases. Hospitals in Arunachal Pradesh, Gujarat, Nagaland, Maharashtra, Meghalaya, and Tripura were to receive the 26 oxygen-generating units. Additionally, 10 Indian states have received 512 High Flow Nasal Cannulas.
Industry Developments and Future Opportunities:
Various initiatives taken by key players operating in the global nasal cannula market are listed below:
- In June 2023, The Breas Medical Vivo 1-2-3 line of bilevel devices and accessories will be distributed in Canada by McArthur Medical Sales, a manufacturing and distribution company, in collaboration with Breas Medical. For non-dependent patients with chronic respiratory insufficiency, the Vivo 1-2-3 product family is a bilevel ventilator that provides both "noninvasive" and invasive (Vivo 3 only) ventilation. The devices provide SpO2 monitoring, a full range of modes with auto-EPAP and high-flow nasal cannula therapy, and an integrated humidifier with a heated wire circuit.
- In April 2021, A significant increase in its capacity to manufacture capital equipment was recently reported by Vapotherm. This medical technology business specializes in the development and marketing of its unique Hi-VNI Technology products, which are used to treat patients with respiratory distress. A sophisticated high-flow nasal cannula (HFNC) system that uses high velocity to treat COVID-19 patients' respiratory distress is called the Precision Flow Hi-VNI system.
- In February 2021, Masimo launched softFlow, a cutting-edge pulmonary care therapy that gives patients who are breathing on their own warm, humidified respiratory gases through their nose high-flow. Through the use of a soft nasal cannula, the technology on the softFlow 50 provides adult patients with high-flow respiratory assistance by producing a steady high flow of warm, humidified air or an air/oxygen mixture.
- In August 2020, The IIT Kanpur incubator business Nocca Robotics Pvt Ltd introduced the Noccarc H210, a high-flow oxygen therapy device. The state-of-the-art tool is user-friendly and pleasant for patients, and it has been demonstrated to be helpful in treating COVID-19 patients. The likelihood of intubation is significantly decreased with high-flow oxygen therapy.
Competitive Landscape and Key Companies:
Some of the prominent players operating in the global nasal cannula market are Allied Healthcare Products Inc., Teleflex Incorporated, Flexicare Medical Ltd., Vapotherm Inc., ResMed Inc.; Fairmont Medical; Fisher & Paykel Healthcare Limited; Well Lead Medical Co. Ltd.; Salter Labs and amongst others. These nasal cannula markets focus on new product launches and geographical expansions to meet the growing consumer demand worldwide and increase their product range in specialty portfolios. They have a widespread global presence, which allows them to serve a large set of customers and subsequently increase their market share. The report offers nasal cannula market trends analysis emphasizing various parameters such as technological advancements, market dynamics, and competitive landscape analysis of leading market players across the globe.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
- Allied Healthcare Products Inc.
- Teleflex Incorporated
- Flexicare Medical Ltd.
- Vapotherm Inc.
- ResMed Inc.
- Fairmont Medical
- Fisher & Paykel Healthcare Limited
- Well Lead Medical Co. Ltd.
- Salter Labs
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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