The North America high-flow nasal cannula market is expected to reach US$ 4,261.14 Mn in 2027 from US$ 1,644.50 Mn in 2018
NEW YORK, Feb. 18, 2020 /PRNewswire/ --
The North America high-flow nasal cannula market is expected to reach US$ 4,261.14 Mn in 2027 from US$ 1,644.50 Mn in 2018. The market is projected to grow with a CAGR of 11.3% from 2019-2027.
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The growth of the market is majorly contributed by increasing government initiatives and growing asthma cases. However, adverse effects or risk of high flow nasal cannula is likely to have a negative impact on the growth of the market in the coming years.
In the US, cases of asthma and chronic obstructive pulmonary disease (COPD) are the significant public health burdens.Governments are, therefore, taking initiatives and patient-centric national guidelines for COPD that are accessible and easy to follow by healthcare professionals.
For instance, with existing COPD guidelines, the American Thoracic Society (ATS) and the global initiative for Chronic Lung Disease (GOLD), creates clinical practice guidelines that set consistent national standards for identifying people at risk for COPD as well as diagnosing and treating people with COPD across the care continuum. Additionally, significant funding is provided to ensure that quality clinical research is conducted into chronic respiratory conditions, and to maintain national monitoring and surveillance measures.
In 2018, the US high-flow nasal cannula market held the largest share of the North America high-flow nasal cannula market because it has highest COPD prevalence. During the year 2013 to 2017, an estimated 2.4 million U.S. working adults aged above 18 years had COPD who never smoked. The highest COPD prevalence among non-smokers were in the information (3.3%) and mining (3.1%) industries and office and administrative support occupation workers (3.3%).
The hospital segment expected to dominate the North America high-flow nasal cannula market.Additionally, this segment is also anticipated to witness the fastest growth rate during the forecast period, 2019 to 2027.
Similarly, in 2018 the active humidifier segment held the major market share among the component segments.
By Component, the active humidifier segment held a largest market share of the high-flow nasal cannula market, in 2018.The active humidifier is expected to dominate its market share in 2027 because for invasive and non-invasive ventilation, there are many players who provide this by heated circuits and systems.
The active humidifier segment is also anticipated to witness the fastest growth rate during the forecast period, 2019 to 2027.
Chronic Obstructive Pulmonary Disease segment a largest market share of the high-flow nasal cannula market, by application in 2018. However, bronchiectasis segment expected to have largest market in 2027 because patients with bronchiectasis are growing consistently since 2001 and its prevalence is more in elder population.
Some of the major primary and secondary sources for drug delivery systems included in the report are the American Thoracic Society (ATS) and the global initiative for Chronic Lung Disease (GOLD), NCD Alliance, etc.
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