MARKET OVERVIEW
High flow oxygen treatment is a non-invasive form of respiratory support provided to patient with warmed and humidified air with enhanced oxygen. Patients with spontaneous breathing require greater oxygen flow rates as high flow oxygen therapy can help patients with acute hypoxemic respiratory failure breathe by supporting their respiratory system and delaying intubation. Patients recover more quickly after extubation due to improvements in oxygenation, respiratory rate, dyspnea, and patient comfort which results in better outcomes and shorter stays in the ICU. This oxygen therapy is also less expensive because it can be used in several medical departments without ventilator.
Furthermore, the nasal cannula used in High flow oxygen therapy is more pleasant for the patient and may be worn continuously for long periods. Controlled heating and humidification are applied to the gas stream, this avoids mucosal dryness and its side effects. It just needs a heating/humidification system, a compressed air source, and an oxygen source.
A customized binasal High flow nasal cannula (HFNC) and a heated inspiratory breathing circuit are used to administer high flow oxygen treatment. It is used to apply heated, humidified, and oxygen-blend air at high flow rates, usually adjusted between 30 and 50 l/min. In addition to producing positive end-expiratory pressure, this high flow can deliver more consistent inspiratory oxygen concentrations than traditional oxygen therapy. Additionally, HFNC devices use oxygen-enriched gas to flush away expired CO2 from the inspiratory dead space in the airways. Patients with mild to severe hypoxemic respiratory failure can benefit from High flow oxygen therapy. As a preventive measure against post-extubation respiratory failure, high flow cannulas have shown to be effective and consistently be better tolerated then non-invasive ventilation (NIV) therapy.
MARKET SCOPE
The "Global high flow oxygen therapy devices market analysis to 2030" is a specialized and in-depth study of the medical device industry with a special focus on global market trend analysis. The report aims to provide an overview of the high flow oxygen therapy devices market with detailed market segmentation by product type, application, end use, and geography. The report provides key statistics on the market status of the leading high flow oxygen therapy devices market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The high flow oxygen therapy devices market is segmented based on product type, application, end use, and region. Based on product type, the global high flow oxygen therapy devices market is differentiated into high flow nasal cannulas, high flow oxygen masks, breathing circuits, and heated humidifiers & accessories. The high flow oxygen therapy devices market is bifurcated by application into pneumonia and acute respiratory failure. Based on end use, the high flow oxygen therapy devices market is bifurcated into home healthcare and non-home healthcare.
MARKET DYNAMICS
Drivers-
The COVID-19 outbreak's increased incidence of acute respiratory failures (ARF), the risk of community infection, the rising demand for high flow nasal cannulas, and developments in high flow oxygen therapy devices are some of the major drivers of the market. Global public health problems, such as pneumonia, asthma, interstitial lung disease, and acute respiratory failure (ARF), place a high socioeconomic cost on people and societies. The main risk factor for ARF is COVID-19 and patients with pneumonia and other COVID-19 symptoms are more likely to develop ARFs. The demand for high flow oxygen therapy equipment is fueled by the world's ageing population and greater exposure to risk factors, making ARF and pneumonia more prevalent health issues. According to estimates from the Child Health Epidemiology Reference Group of the World Health Organisation (WHO), there were 1,400 cases of pneumonia per 100,000 children in 2020. Of these, 13% were severe and required immediate hospitalization.
Furthermore, increasing funding for R&D activities to launch novel products & solutions and healthcare recognition & recommendation of high flow nasal cannula oxygen therapy will continue creating growth opportunities for manufacturers and users through the assessment period. For instance, In January 2020, Royal Papworth Hospital granted 1.5 million (£1.4M) to fund nasal oxygen study. Thus, increasing funding will drive the high flow oxygen therapy devices market growth.
REGIONAL FRAMEWORK
Due to the presence of major players, the high prevalence of respiratory disorders, and the developed healthcare infrastructure, North America is anticipated to dominate the global high flow oxygen therapy devices market over the forecast period. The rising prevalence of respiratory illnesses is one of the major factor promoting the market growth in the region. For instance, according to estimates provided by the Asthma and Allergy Foundation of America (AAFA), over 25 million Americans, or roughly 1 in 13 persons, were estimated to have asthma in 2022 and it is also estimated that 5.1 million American children under 18 have asthma. Additionally, as per the same source, women (9.8%) had a higher prevalence rate of asthma as compared to men (6.1%).
Furthermore, the high flow oxygen therapy devices market players are implementing various strategies, including alliances, partnerships, and product launches, which favors the market growth of high flow nasal cannulas. For instance, In February 2021, Masimo launched softFlow, its innovative pulmonary care therapy which offers nasal high flow warmed and humidified respiratory gases to spontaneously breathing patients. The technology offers adult patients High flow respiratory support via a soft nasal cannula by generating a consistently high flow of warm, humidified oxygen mixture.
MARKET PLAYERS
The report covers key high flow oxygen therapy devices market developments, such as organic and inorganic growth strategies. Various companies such as Draegerwerk AG & Co. KGaA, Teleflex Medical GmBH, Philips Respironics, Vapotherm, Inc., ResMed, Vyaire Medical, Inc., Fisher & Paykel Corporation Ltd., Armstrong Medical, Flexicare Medical, Hamilton Medical Inc. and among others are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the expansion of business and the customer base of market players. The key players from the high flow oxygen therapy devices market are anticipated to have lucrative growth opportunities with the rising demand for oxygen therapy products in the global market.
Key Developments in the Global High flow oxygen therapy devices market
- ?In August 2021, ResMed launched AirSense 11 in the United States, its a next-generation PAP (positive airway pressure) device particularly used for therapy to treat and manage obstructive sleep apnea.?In August 2020, Nocca Robotics Pvt Ltd launched a high flow oxygen therapy device, Noccarc H210. This deviced is used to treat COVID-19 patients and is simple to use and comfortable. High flow oxygen therapy significantly reduces the chances of intubation.?In June 2020, Armstrong Medical launched second generation FD140i, an enhanced dual therapy flow driver with an easier transition from CPAP to HFOT.
The report also includes key companies' profiles, their SWOT analysis, and high flow oxygen therapy devices market size and strategies. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information for the last three years, and key development in the past five years.
The Insight Partner's dedicated research and analysis team comprises experienced professionals with advanced statistical expertise and offers various customization options in the current study.