PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1400984
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1400984
Asia Pacific Nasal Cannula Market size was valued at USD 153.8 Million in 2022, expanding at a CAGR of 4.5% from 2023 to 2030.
A nasal cannula is a tool that helps a patient or someone in need of breathing assistance by providing more oxygen or greater airflow. Improved ventilation and oxygenation are achieved by reducing nasopharyngeal airway resistance with a high-flow nasal cannula.
Nasal Cannula Market- Market Dynamics
Increasing prevalence of respiratory disorders is expected to propel market demand
There has been rise in respiratory illness disease in the recent years. Asthma and COPD accounted for the majority of the 40% rise in chronic respiratory disease cases between 1990 and 2017, making chronic respiratory diseases one of the main causes of morbidity. It is anticipated that patient traffic will increase because of government measures under the public healthcare system for inexpensive healthcare and awareness, as well as the expansion in healthcare spending in the majority of the world. Furthermore, changing lifestyles, an increase in the percentage of smokers, environmental factors, and rising air pollution all significantly contribute to the rise in respiratory illnesses, which in turn fuels market growth.
Nasal Cannula Market- Key Insights
As per the analysis shared by our research analyst, the Asia Pacific market is estimated to grow annually at a CAGR of around 4.5% over the forecast period (2023-2030)
Based on Type segmentation, low flow segment was predicted to show maximum market share in the year 2022, Low flow cannula is widely used in homecare settings, ambulatory centers in disease treatment.
Based on Material segmentation, plastic was the leading market in 2022, due to easy availability and low cost of the product.
Based on End-User segmentation, hospital was the leading market in 2022, due to increasing demand nasal cannula in treating patient form different chronic diseases.
On the basis of country, China held significant revenue share in 2022 mainly due to the recent COVID-19 situation.
The Asia Pacific Nasal Cannula Market is segmented on the basis of Type, Material, End-User, and Region.
The market is divided into two categories based on Type: low flow and high flow. The low flow dominates the market. The high demand from low inflammatory short-term diseases is driving the market growth.
The market is divided into two categories based on Material: plastic and silicone. The plastic dominates the market and is likely to maintain its dominance during the forecast period. The low-cost availability and utilized for short-term diseases are driving the market growth.
The market is divided into four categories based on End-User: hospitals, ambulatory healthcare services, long term care centers, and others. Hospitals segment held the largest share in 2022. The long-term care center segment is expected to witness significant growth owing to rising older adults is mainly boosting the market growth.
Nasal Cannula Market- Country Insights
Country wise, this market is widespread into India, China, South Korea, Japan, Australia, Thailand, Indonesia, Philippines, Malaysia, Taiwan, Vietnam, Hong Kong, New Zealand, Singapore, Myanmar, and the rest of the Asia-Pacific (APAC) region.
Nasal Cannula Market is less moderately competitive in nature. The expansion of both domestic and international players makes low-cost items easier to get, and their increased use bolsters the nasal cannula market's growth in the Asia Pacific region. However, due to the high percentage of people with COPD and asthma, Asia Pacific is anticipated to increase at the quickest rate during the projection period. The market's participants are using a range of tactics, including joint ventures, product launches, and collaborations.
In 2021, ResMed launched AirSense 11, the company's next-generation positive airway pressure (PAP) device mainly designed for therapy treatment.
The scope of this report covers the market by its major segments, which include as follows:
ASIA PACIFIC NASAL CANNULA MARKET KEY PLAYERS
ResMed
Fisher & Paykel Healthcare Limited
Devatec
Teleflex Incorporated
Smiths Medica
Vapotherm
Hamilton Medical
Salter Labs
Allied Healthcare Products
Flexicare Medical Limited
Masimo
Fairmont Medical
Great Group Medical Co. Ltd.
Others
ASIA PACIFIC NASAL CANNULA MARKET, BY TYPE
Low flow
High flow
ASIA PACIFIC NASAL CANNULA MARKET, BY MATERIAL
Plastic
Silicone
ASIA PACIFIC NASAL CANNULA MARKET, BY END-USER
Hospitals
Ambulatory healthcare services
Long term care centers
Others
ASIA PACIFIC NASAL CANNULA MARKET, BY REGION
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Malaysia
Taiwan
Vietnam
Hong Kong
New Zealand
Singapore
Myanmar
Rest of APAC