Nasal Cannula MarketSize and Trends

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).

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 – Market Trends

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.