Global Nasal Cannula Market, By Product Type (Curved prong cannula, Flared prong cannula, Straight prong cannula, Curved and flared prong cannula), By Material (Plastic, Silicon ), By Application (Asthma, Lung cancer, Chronic bronchitis, Pulmonary embolism, COPD, , Cystic fibrosis, Pneumonia and Others ), By End User (Hospital, Long term care center, Home care settings, Ambulatory surgical centers, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
Key market players are focusing on adopting growth strategies such as the launch of new products, which will drive the global nasal cannula market. For instance, in January 2020, ResMed, a medical device company, announced the launch of i AirFit F30i, first tube-up full face CPAP mask, AirFit F30i’s tube-up design makes it easier to sleep in any position. The cushion rests under the nose to help prevent next-day red marks, soreness, and irritation on the nasal bridge.
Global Nasal Cannula Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. The virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems with regard to the transportation of things from one place to another.
The COVID-19 pandemic is expected to drive the growth of the global nasal cannula market over the forecast period. Market players are engaged in providing required devices and treatments for respiratory issues caused by various factors, such as COVID-19, asthma, and lung cancer, which is expected to drive the growth of the nasal cannula market over the forecast period. For instance, on July 17, 2020, Mr. Thiru M.K.Stalin, the health minister of Tamil Nadu sanctioned US$10.2 million to buy 2,414 high-flow nasal cannulas to manage patients with breathlessness due to COVID-19. The high-flow nasal cannulas were used to reduce distress in patients and help with quick recovery from affected lungs.
Global Nasal Cannula Market: Key Developments
In August 2022, the National Health Service, the publicly funded healthcare system in England, launched an awareness campaign encouraging people to get potentially lifesaving checks have long-standing symptoms of lung cancer. The launch comes after figures indicated that people at risk of lung cancer, which is England’s deadliest cancer, are not coming forward for care.
In July 2022, LivaNova PLC, a medical products manufacturer, announced the acquisition of ALung Technologies, Inc., the leading provider of low-flow extracorporeal carbon dioxide removal (ECCO2R) technologies for treating patients with acute respiratory failure, in marketing the product for the treatment of severe asthma, cystic fibrosis, and as a bridge to organ transplant.
In June 2021, Safe Work Australia, an Australian government statutory agency, launched occupational lung disease campaign. The campaign helps raise awareness about the risk of occupational lung disease.
Browse 36 Market Data Tables and 26 Figures spread through 210 Pages and in-depth TOC on “Global Nasal Cannula Market”- Forecast to 2030, by Product Type (Curved prong cannula, Flared prong cannula, Straight prong cannula, Curved and flared prong cannula) by Material (Plastic, Silicon ) by Application (Asthma, Lung cancer, Chronic bronchitis, Pulmonary embolism, COPD, , Cystic fibrosis, Pneumonia and Others ) by End User (Hospital, Long term care center, Home care settings, Ambulatory surgical centers, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/nasal-cannula-market-2694
Key Takeaways of the Global Nasal Cannula Market:
- The global nasal cannula market is expected to exhibit a CAGR of 6.4% during the forecast period, owing to the increasing prevalence of ‘noncommunicable’ diseases. For instance, according to data provided by the Pan American Health Organization, the international health agency, on August 31, 2023, noncommunicable diseases (NCDs) kill 41 million people each year worldwide, equivalent to 71% of all deaths globally. In the region of America, 5.5 million deaths are caused by NCDs. Each year, 15 million people-2.2 million in the region of the America-die from a NCD between the ages of 30 and 69 years; over 85% of these "premature" deaths occur in low- and middle-income countries. Cardiovascular diseases account for most NCD deaths, or 17.9 million people annually, followed by cancer (9.0 million), respiratory diseases (3.9 million), and diabetes (1.6 million), globally.
- Among application, chronic obstructive pulmonary disease (COPD) segment is expected to hold a dominant position in the global nasal cannula market during the forecast period, and this is attributed to the increasing awareness campaign by non-profit organization. For instance, in November 2021, American Lung Association, a non-profit organization, organized a Chronic Obstructive Pulmonary Disease (COPD) awareness campaign to educate and increase awareness of COPD in the population.
- Among regions, North America is expected to hold a dominant position in the global nasal cannula market owing to the developments of nasal cannula treatments, which is expected to drive growth over the forecast period. For instance, on July 28, 2021, Vyaire Medical, a S.-based company, launched a low-flow oxygen therapy device called the Airlife Open Oxygen Mask. Vyaire Medical is one of the leading manufacturers of medical devices. The device, an Airlife open oxygen mask, is constructed from patented designs. The device has the ability to provide 1L- 15L oxygen per minute without disturbing the patient.
- Major players operating in the global nasal cannula market are 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
