The global nasal cannula market size is expected to reach USD 11.47 billion by 2030, based on a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.8% from 2024 to 2030. The rise in prevalence of respiratory diseases and the growing geriatric population contribute majorly to the growth of the market. The lifestyle changes, rising percentage of smokers, climatic conditions, and the increasing air pollution attributes majorly to the growing prevalence of respiratory diseases.
Nasal Cannula Market Report Highlights
- The low flow nasal cannula segment dominated the market in 2023 owing to the growing prevalence of respiratory diseases, the low cost of the cannula, and the Covid-19 impact
- The plastic material segment dominated the market in 2023 in terms of revenue share owing to the higher adoption due to low cost and variations available in the market
- The hospital segment dominated the market in 2023 owing to the increasing adoption of the high-flow nasal cannula and the developments made to expand the usage and scope in various indication treatments
- On the other hand, the growing geriatric population and the patients with long-term respiratory distress are expected to support the growth of the long term care center segment
- In 2023, North America held the highest share in the market owing to the rise in the occurrence of respiratory diseases such as COPD and asthma, and growth in the local and international manufacturers facilitating swift availability of the medical device at low cost
- In Asia Pacific, the market is expected to witness the fastest growth over the forecast period owing to the rising geriatric population and prevalence of respiratory diseases, increasing healthcare expenditure, and rise in the local manufacturers
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Moreover, the current Covid-19 pandemic has further propelled the demand for medical devices worldwide. The surge in the adoption of the single-use nasal cannula was prevalent in all the settings, including hospitals, home settings, and care centers. Furthermore, the medical device witnessed a surge in demand during the pandemic facilitating oxygen delivery in all settings, including hospitals and home care.
The development in the medical device by different key players of the market has further propelled the adoption due to innovation in the nasal cannulas to provide more flexibility and comfort to the patients. The recent developments in high-flow nasal cannula facilitate expanding the usage at low-level healthcare settings or home use leading to further market growth.
List of major companies in the Nasal Cannula Market
- Allied Medical LLC.
- Teleflex Incorporated
- Flexicare (Group) Limited
- Vapotherm
- Fisher & Paykel Healthcare Limited.
- Well Lead Medical Co., Ltd.
- SunMED,LLC
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We have segmented the global nasal cannula market based on type, material, end-use, and region.
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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