NASAL CANNULA MARKET ANALYSIS

Market Challenges And Opportunities

• Side effects associated with nasal cannula

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.

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.