High flow nasal cannula Global Market Report 2024

The high flow nasal cannula market size has grown rapidly in recent years. It will grow from $5.03 billion in 2023 to $5.61 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth observed in the historic period can be attributed to factors such as the rise in disposable income, shifts in lifestyle trends, globalization and trade, increased activities in home renovation and construction, and the growth of e-commerce.

The high flow nasal cannula market size is expected to see rapid growth in the next few years. It will grow to $8.23 billion in 2028 at a compound annual growth rate (CAGR) of 10%. The anticipated growth in the forecast period can be attributed to factors such as the adoption of sustainable and eco-friendly products, evolving demographics, the integration of smart textiles, trends in interior design, and the demand for health and wellness textiles. Noteworthy trends expected in the forecast period encompass the integration of smart home technologies, the use of sustainable materials and practices, a focus on customization and personalization, the incorporation of innovative textile technologies, and the enhancement of digital retail experiences.

The high-flow nasal cannula market is anticipated to experience growth due to the increasing incidence of asthma and COPD. Asthma, characterized by narrowed and inflamed airways with excessive mucus production, and COPD, a group of progressive lung diseases causing breathing difficulties, are contributing factors. The high-flow nasal cannula offers a potential treatment option by enhancing oxygen levels (PO2) while minimizing heart rate (HR) and respiratory rate (RR). This is particularly beneficial for severe bronchial asthma exacerbated by respiratory failure. Notably, in April 2023, Asthma + Lung UK reported a 149 percent surge in hospital admissions for children with asthma in England and Wales between 2021 and 2022, emphasizing the increasing prevalence of these respiratory conditions.

The high-flow nasal cannula market is poised for growth due to the expanding elderly population. Individuals aged 65 and older are considered part of this demographic, and the high-flow nasal cannula proves to be a safe and effective alternative for elderly patients with acute respiratory failure who may not respond to standard oxygen therapy, are intolerant of non-invasive ventilation (NIV) or continuous positive airway pressure (CPAP), and do not meet ICU admission criteria. In November 2022, the Office for National Statistics reported a significant milestone in England and Wales, with 18.6% of the population exceeding 11 million individuals falling within the 65-and-above age group. Notably, over half a million individuals (527,900) were at least 90 years old within this segment. Hence, the growing elderly population is a key driver behind the expansion of the high-flow nasal cannula market.

The primary obstacle hindering the growth of the high-flow nasal cannula market during the forecast period is the occurrence of side effects associated with its use. Typically, these side effects are mild to moderate and can be effectively managed by adjusting factors such as flow rate, humidity, or other parameters of the high-flow nasal cannula (HFNC) equipment. However, in rare situations, more significant adverse effects such as pneumothorax or airway obstruction may arise. For example, a study by the National Library of Medicine in August 2023 highlighted the potential risk of ineffective sealing of passageways, leading to air leakage and the loss of positive airway pressure effect. Consequently, these side effects are acting as a deterrent to the expansion of the high-flow nasal cannula market.

Major players in the high-flow nasal cannula market are concentrating on introducing advanced products, such as the SoftFlow High-Flow Nasal Cannula, to cater to their existing customer base. The SoftFlow High-Flow Nasal Cannula is a respiratory assistance device that utilizes a nasal cannula to provide warm, humidified, oxygen-enriched air to patients. For instance, in February 2021, Masimo Corporation, a U.S.-based medical technology manufacturer, unveiled the SoftFlow High-Flow Nasal Cannula Therapy. The innovative technology integrates an airflow generator and a water reservoir attachment, allowing the continuous provision of high-flow nasal cannula treatment for recovering COVID-19 patients in various settings, eliminating the need for a separate oxygen source. The softFlow 50, equipped with this technology, delivers a consistent high flow of humidified, warm air or an air/oxygen combination to adult patients via a soft nasal cannula. Notably, SoftFlow facilitates uninterrupted airflow through the nostrils, enabling patients to eat, drink, and speak, a challenge with mask-based respiratory support.

In January 2021, the UK-based medical device manufacturer Eakin Healthcare Group acquired Armstrong for an undisclosed sum. Through this acquisition, Eakin aims to diversify its portfolio by venturing into a new therapeutic area and fostering the development of innovative medical products in Northern Ireland to meet the global needs of patients. Armstrong, a U.S.-based company, is known for its high-flow nasal cannula called NeoFlow, specifically designed for infants.

Major companies operating in the high flow nasal cannula market report are Air Liquide Medical Systems Pvt. Ltd., Becton Dickinson and Company, Koninklijke Philips N.V., Teijin Pharma Limited, ResMed Inc., Drägerwerk AG & Co. KGaA, Teleflex Incorporated, Masimo Corporation, Medical Dynamics Inc., Fisher & Paykel Healthcare Corporation Limited, Smiths Medical Inc., Vyaire Medical Inc., DeVilbiss Healthcare LLC, Armstrong Medical Ltd., Vapotherm Inc., SunMed LLC, Medin Medical Innovations GmbH, Sterimed Group, MEK-ICS Co. Ltd., Narang Medical Limited, Breas Medical AB, Bio-Med Devices Inc., Flexicare Medical Ltd., Fairmont Medical Products Pty Ltd., Besmed Health Business Corp., Löwenstein GmbH & Co. KG, Great Group Medical Co. Ltd., TNI Medical AG, Guangdong Pigeon Medical Apparatus Co.Ltd., BLS Systems Limited.

North America was the largest region in the high flow nasal cannula market in 2023. The regions covered in the high flow nasal cannula market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the high-flow nasal cannula (HFNC) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A high-flow nasal cannula (HFNC) is a medical device designed for delivering a high flow of heated and humidified oxygen-enriched air to patients with respiratory conditions. It comprises a lightweight tube connected to a machine that regulates the flow of air and oxygen. The cannula, placed in the patient's nostrils, administers a continuous stream of warm and moistened air at a higher flow rate compared to traditional oxygen therapy methods.

The primary types of high-flow nasal cannulas include air or oxygen blenders, nasal cannulas, active humidifiers, single-heated tubes, and others. Air-oxygen blenders are medical devices that blend air and oxygen to deliver a precise combination of oxygen and air to patients experiencing breathing difficulties or undergoing anesthesia. These devices find applications in various medical conditions such as acute respiratory failure, chronic obstructive pulmonary disease (COPD), carbon monoxide toxicity, bronchiectasis, sleep apnea, among others. High-flow nasal cannulas are distributed through diverse sales channels, including direct channels, and are utilized by various end-users, including hospitals and clinics, ambulatory care centers, long-term care centers, and others.

The high-flow nasal cannula market research report is one of a series of new reports that provides high-flow nasal cannula market statistics, including high-flow nasal cannula industry global market size, regional shares, competitors with a high-flow nasal cannula market share, detailed high flow nasal cannula market segments, market trends and opportunities, and any further data you may need to thrive in the high flow nasal cannula industry. This high-flow nasal cannula market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The high-flow nasal cannula (HFNC) market consists of sales of flow generators, oxygen blenders, nasal prongs, and humidifiers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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