NASAL CANNULA MARKET ANALYSIS

The global nasal cannula market is estimated to be valued at US$ 7.7 Billion in 2023 and is expected to exhibit a CAGR of 6.4% during the forecast period (2023-2030).

Analysts’ Views on Global Nasal Cannula Market:

The increasing inorganic growth strategies, such as investment funding by government authorities, are expected to drive market growth over the forecast period. For instance, in July 2020, the U.S. government, through the U.S. Agency for International Development (USAID), provided an additional US$3.5 million (R59 million) to support the National Department of Health’s (NDoH) oxygen supply, demand, and their efforts to procure supplies and equipment needed for critical care beds. The funds will also be used to support emergency preparedness and planning efforts at the provincial level.

Figure 1. Global Nasal Cannula Market Share (%), By Product Type, 2023

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Global Nasal Cannula Market– Drivers

• Increasing product launch: Increasing organic growth strategies, such as product launches by key market players to expand their product portfolios, are expected to drive the growth of the global nasal cannula market over the forecast period. For instance, in August 2020, 3B Medical, a medical device company, announced the launch of the Freedom X oxygen nasal cannula, intended to address the single most common complaint from oxygen patients, such as nose irritation. Constructed out of ultra-soft silicone, the patent-pending Freedom X cannula positions under the nostrils for contact-free delivery of oxygen.
• Increasing prevalence of respiratory diseases: The increasing incidence of respiratory disorders such as asthama is a major factor driving market growth. For instance, according to the statistics published by the Asthma and Allergy Foundation of America (AAFA), in April 2022, about 25 million people in America had asthma in 2020, which is roughly 1 in 13 Americans. As per the same source, about 5.1 million American children have asthma under the age of 18. In addition, the prevalence of asthma is high in females (9.8%) as compared to males (6.1%). Also, as per the Interactive Summary of Health Statistics for Adults by the Centers for Disease Control (CDC), 3.5% of the adult population had asthma in 2020. Thus, patients with respiratory illnesses often require high-flow oxygen therapy through nasal cannulas, thus increasing the demand for nasal cannulas, and thereby boosting market growth.

Figure 2. Global Nasal Cannula Market Share (%), By Region, 2023

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Global Nasal Cannula Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global nasal cannula market over the forecast period. North America is estimated to hold 33.5% of the market share in 2023. The global nasal cannula market is expected to witness significant growth in the near future, owing to increasing organic growth strategies such as product launches by key market players to expand their product portfolio in the North America region. For instance, in October 2021, Movair, a respiratory therapy company formerly known as International Biophysics Corporation, announced the U.S. commercial launch of Luisa, an advanced ventilator intended for use in homes, institutions, hospitals, or portable applications for both invasive and non-invasive ventilation. Luisa also provides the unique feature of switching back and forth between a high-flow nasal cannula (HFNC) and a non-invasive ventilator (NIV) with different modes with the push of a button.

Global Nasal Cannula Market: Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, were facing problems with the transportation of things from one place to another.

However, The coronavirus pandemic has disrupted the world's use of nasal cannulae as the disease has affected patients' airways, resulting in lower oxygen levels needed for supplemental oxygen to recover from respiratory illnesses. It is expected to have a positive impact on the market. Promoting the growth of the global nasal cannula market during the forecast period. For example, an article on high-flow nasal cannula (HFNC) therapy for COVID-19, published in PubMed on October 1, 2020, states that the use of high-flow nasal cannula in critically ill patients with COVID-19 is He says it helps with recovery. Oxygenation in severe acute respiratory failure. This study suggests that high-flow nasal cannulae (HFNC) reduce intubation and mortality rates in critically ill patients with COVID-19, and HFNC is safe to care for COVID-19 patients with respiratory failure. It was concluded that Use standard oxygen.

Global Nasal Cannula Market Segmentation:

The global nasal cannula market is segmented into product type, material, application, end user and region.

• By product type, the market is segmented into curved prong cannula, flared prong cannula, straight prong cannula, and curved and flared prong cannula. Out of which, curved prong cannula is expected to hold a dominant position in the global nasal cannula market during the forecast period, and this is attributed to increasing organic growth strategies such as product launches and approvals.
• By material, the market is segmented into plastic and sillion. Out of which, sillion is expected to dominate the market over the forecast period, and this is attributed to the increasing use of sillion material for the manufacturing of nasal cannula.
• By application, the market is segmented into asthma, lung cancer,, chronic bronchitis, pulmonary embolism, COPD, cystic fibrosis, pneumonia, and others. Out of which, COPD is expected to dominate the market over the forecast period, and this is attributed to the increasing use of nasal cannulas for the treatment of COPD.
• By end user, the market is segmented into hospital, long term care center, home care settings, ambulatory surgical centers, and others. Out of which, hospital is expected to dominate the market over the forecast period, and this is attributed to the increasing use of nasal cannula in hospitals.
• By region, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East and Africa. Out of which, North America is expected to dominate the market over the forecast period and this is attributed to increasing growth strategies such as product launches.
• Among all the segmentation, the product type segment is expected to dominate the market over the forecast period, and this is attributed to the increasing product launches by key market players to expand their product portfolio. For instance, in February 2021, Masimo, a medical device company, announced the U.S. introduction of softFlo, an innovative pulmonary care therapy that provides nasal high-flow warmed and humidified respiratory gases to spontaneously breathing patients. The technology, available on the softFlow 50, offers adult patients high-flow respiratory support through a soft nasal cannula by generating a consistent high flow of warm, humidified air or an air/oxygen mixture.

Global Nasal Cannula Market- Cross Sectional Analysis:

The increasing government initiatives are expected to boost the demand for nasal cannula in Asia Pacific region. For instance, in June 2021, as India battles the second wave of COVID-19, a critical shortage of oxygen for treating patients with respiratory  diseases has posed a major challenge to the United Nations International Children's Emergency Fund, a non-profit organization that was helping to install nine oxygen-generating plants across hospitals in Gujarat, Arunachal Pradesh, and Tripura. All 26 oxygen-generating plants were for installation in hospitals in Arunachal Pradesh, Gujarat, Nagaland, Maharashtra, Meghalaya, and Tripura. In addition, 512 High Flow Nasal Cannulas have been delivered to 10 states in India.

Global Nasal Cannula Market: Key Developments

• In June 2022, McArthur Medical Sales, a manufacturing and distributing company, announced a distribution agreement with Breas Medical, a medical device company, to distribute the Breas Medical Vivo 1-2-3 family of bilevel devices and accessories in Canada. The Vivo 1-2-3 product family is a bilevel ventilator offering both ‘noninvasive’ and invasive (Vivo 3 only) ventilation for non-dependent patients with chronic breathing insufficiency. The devices feature a built-in humidifier with a heated wire circuit, a comprehensive set of modes with auto-EPAP and high-flow nasal cannula therapy, and SpO2 monitoring.
• In August 2021, ResMed, a medical device company, launched AirSense 11 in the U.S., the company’s next-generation PAP (positive airway pressure) device designed for therapy to treat and manage sleep apnea.
• In April 2021, Vapotherm, a medical technology company focused on the development and commercialization of its proprietary Hi-VNI Technology products that are used to treat patients suffering from respiratory distress, announced a major expansion in its capital equipment manufacturing capabilities. The Precision Flow Hi-VNI system is an advanced high-flow nasal cannula (HFNC) system using high velocity to treat the respiratory distress experienced by COVID-19 patients.

Global Nasal Cannula Market: Key Trends

• Increasing government initiatives: Increasing government initiatives by government organizations are expected to drive market growth over the forecast period. For instance, in June 2021, the Pan American Health Organization/World Health Organization (PAHO/WHO) and the Government of Canada donated six (6) high-flow nasal cannula (HFNC) systems and two (2) advanced patient monitors with carbon dioxide (CO2) and invasive blood pressure (IBP) monitoring, including accessories and consumables, to the Karl Heusner Memorial Hospital (KHMH). High-Flow Nasal Cannula (HFNC) Treatment is a non-invasive respiratory support therapy that delivers warm, humidified, oxygen-enriched air to patients, usually using a nasal tube called a cannula.

Global Nasal Cannula Market: Restraint

• Side effects associated with nasal cannula: The increasing use of nasal cannula can also cause side effects such as the transmission of pathogenic viruses through nasal cannula that can cause infection in patients, which is expected to hamper the growth of the market over the forecast period. For instance, an article by the Swedish agency for health technology assessment and assessment of social services (SBU) on August 6, 2020, stated the risk of viral infection transmission to patients via high-flow nasal cannula while providing oxygen therapy to patients. A patient can be infected through aerosol transmission, which means the inhalation of viruses through the nostrils. Key players are focusing on developing advanced products with safety and reduced side effects, which is expected to drive market growth over the forecast period.
• Counterbalance: The key players functioning in the market need to develop advanced products with the help of the latest technology, which will be more safer and will aid in lessening the side effects associated with the use of nasal cannula over the forecast period.

Global Nasal Cannula Market - Key Players

Major players operating in the global nasal cannula market include Medtronic, Devex, Edwards Lifesciences Corporation, Terumo Corporation, LivaNova PLC, medin Medical Innovations GmbH, Flexicare (Group) Limited, Medline Industries, LP, Teleflex Incorporated, Vapotherm, Salter Labs, Well Lead Medical Co., Ltd., Drive Devilbiss International, Allied Medical Limited, Besmed Health Business Corp., Fairmont Medical, Smiths Medical, Fisher & Paykel Healthcare Limited., and ResMed.

Definition: A nasal cannula is a device that gives additional oxygen (supplemental oxygen or oxygen therapy) through nose. It’s a thin, flexible tube that goes around head and into nose. There are two prongs that go inside nostrils that deliver the oxygen. The tube is attached to an oxygen source like a tank or container. There are high-flow nasal cannulas (HFNC) and low-flow nasal cannulas (LFNC). The difference between them is in the amount and type of oxygen they deliver per minute.