High Flow Oxygen Therapy Devices Market

Key Points Covered in High Flow Oxygen Therapy Devices Market Study

• Market estimates and forecast 2016-2031
• Key drivers and restraints impacting market growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on High Flow Oxygen Therapy Devices Market and How to Navigate
• Recommendation on Key Winning Strategies

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2016-2020 High Flow Oxygen Therapy Devices Demand Outlook Compared to 2021-2031 Forecast

According to Future Market Insights (FMI), the sales of high flow oxygen therapy devices have grown at a CAGR of -6.4% during 2021-2025 and 1.4% between 2025 and 2031. Increasing focus on research and development (R&D) activities to launch novel products & solutions with a focus on preventive measures is driving current sales figures.

The growing risk of community respiratory infection owing to the emergence of new or mutant viral and bacterial infections is expected to increase the demand for oxygen therapy. An unprecedented pandemic outbreak has created a huge gap between the demand and supply of a high flow nasal cannula system.

The increasing number of hospital-acquired respiratory infections is expected to drive the growth of the market. In December 2019, the COVID-19 pandemic engulfed the world. This highly transmissible respiratory disease significantly spiked the demand for medical masks, gloves and other medical equipment like oxygen therapy devices.

The World Health Organization (WHO) has recommended personal protective and medical equipment to contain the spread of the virus. Following the outbreak, governments across the globe increases manufacturing by 40% to meet the rising demand for medical equipment such as oxygen therapy devices

How is the Healthcare Recognition and Recommendation of High-Flow Nasal Cannula Oxygen Therapy Aiding Market Growth?

Incidence of highly transmissible acute respiratory diseases has significantly increased the demand for oxygen therapy devices required for the affected population. According to the Centers for Disease Control (CDC) treatment guidelines, high-flow nasal cannula oxygenation (HFNCO) has been recommended in the treatment of acute respiratory failure in COVID-19 patients over non-invasive positive pressure ventilation (NIPPV). This recommended use of high-flow nasal cannula oxygen therapy to treat mild to moderate COVID-19 affected patients is expected to boost the demand for high-flow nasal cannula amidst COVID-19 crisis.

What are the Key Opportunities for Market Players?

The rising prevalence of respiratory diseases, increasing community infections and hospital-acquired infections are creating opportunities for high-flow nasal flow cannula products. Furthermore, growing investments by key players for the development of advanced product that is easy to use and provide comfort to users are also expected to create growth opportunities shortly for the high flow oxygen therapy devices market.

Demand for high flow oxygen therapy in new pathogen outbreaks and high return on investment could be realized by increasing manufacturing capabilities in times of new pathogen/infection emergence is providing opportunities for key players in the market.

What are the Key Opportunities for Market Players?

The rising prevalence of respiratory diseases, increasing community infections and hospital-acquired infections are creating opportunities for high-flow nasal flow cannula products. Furthermore, growing investments by key players for the development of advanced product that is easy to use and provide comfort to users are also expected to create growth opportunities shortly for the high flow oxygen therapy devices market.

Demand for high flow oxygen therapy in new pathogen outbreaks and high return on investment could be realized by increasing manufacturing capabilities in times of new pathogen/infection emergence is providing opportunities for key players in the market.

Will the High Cost of High-Flow Nasal Cannula Oxygen Therapy Continue Disrupting Growth?

Direct costs related to respiratory disease is higher which requires an agreeable strategy that helps in real breathing help. The overall high cost associated with oxygen therapy, from hospitalization to post-discharge care, is expected to slow down the growth of the market. This hindrance is dominant in the developing and emerging regions.

What is the Impact of the COVID-19 Crisis on the Market?

COVID-19 is anticipated to have a high positive impact on the high flow oxygen therapy devices market due to the rapid increase in demand for high flow oxygen therapy devices for the treatment of COVID-19 Patients. As the pandemic is expanding, more and more manufacturers are focusing on introducing new and advanced products in the demand that will help to meet the demand for products that are useful in handling the crisis and treating the patients.

Although, various pharmaceutical companies are working towards the development of vaccines and some have been successful as well, the continuous mutation of the possesses a continued threat to mankind. Where each new mutation is far more infectious than the previous one. Thus, it can be rightly anticipated that the demand for products used for the treatment of COVID-19 will continue to grow at least for the next two years.

Moreover, there may be a fall in overall sales of high flow oxygen therapy devices post the pandemic subsides and it will continue to grow at the growth rate projected in the pre-covid years. The pandemic has led to an increase in awareness which will lead the market to grow during the forecast period even though it may be not as high as the current growth rate.  

Country-wise Insights

Will the U.S. Remain a Key High Flow Oxygen Therapy Devices Market?

In 2021, the U.S. is estimated to account for over 96% value share in North America. Acute respiratory failure (ARF) remains a major cause of morbidity and mortality in both pediatric and adult demographics. The annual mortality rate is generally ranging between 50% and 70% with the incidence in the U.S. as high as 150,000 cases.

The risk of ARF increases with age and is especially high among people aged 65 and above. Thus growing ageing population with high incidences of respiratory diseases and the need for high flow oxygen therapy is creating lucrative growth opportunities in North America specifically in the U.S.

Why is Germany Considered a More Lucrative Market within Europe?

Germany is expected to account for over 24% of the Europe market in 2031. Continuous product development and new launches in are boosting the market growth in the country. Also, the presence of companies such as Drägerwerk AG & Co. KGaA is supporting expansion in Germany.  

Leading industry players are leveraging opportunities for technological developments to achieve product effectiveness and minimum complications. Manufacturers in Europe are focusing on aspects such as minimal surface contact friction of cannulation, optimum access, accurate delivery and positioning of cannula and physician’s and patient’s convenience to increase the demand for high flow oxygen therapy devices.

For example, in February 2019, Hamilton Medical AG launched a single-use nasal cannula- Nuflow for high flow oxygen therapy in neonates. The cannulas were made available in four different sizes and included a pair of fixation patches and one adapter (OD 15 mm).

What are the Factors Supporting High Flow Oxygen Therapy Devices Sales in Australia?

The Australia market will exhibit an -5.7% CAGR during 2021-2025 and 1.8% 2025-2031 throughout the forecast period. With increasing incidences of respiratory illness and growing adoption of high flow oxygen therapy devices i.e. approximately 4,394 heated humidifiers installed in the country in 2020, these factors are supplementing the market growth.

Will India Remain at the Forefront of High Flow Oxygen Therapy Devices Demand?

The India market will account for more than 58% of the sales registered in the South Asia in 2021. Various factors such as increasing government spending, growing investment by leading players, and awareness programs by various government and non-government organizations are supplementing market growth in the region.

What is the Scope for Sales of High Flow Oxygen Therapy Devices in China?

The market for high flow oxygen therapy devices in China is exhibiting an -0.3% CAGR and is expected to account for 36% of the East Asia market in 2031. The rising prevalence of respiratory diseases, growing geriatric population, and increasing adoption of high flow oxygen therapy in a patient with acute respiratory failure (ARF), pneumonia, asthma, and interstitial lung disease are expected to surge demand of high flow oxygen therapy devices in china.

Category-wise Insights

What are the Sales Prospects of Heated Humidifiers?

Heated humidifiers will show steady growth, reflecting a high share of 48% in 2021. Increasing awareness among customers about respiratory diseases such as asthma, sinusitis, and some other allergies are driving the demand for heated humidifiers in the market.

Why does Acute Respiratory failure hold a Larger Share?

Acute respiratory failure segment is projected to show steady growth in the forecast period with a CAGR of -3.1% accounting for a market share of 90% in 2021. The acute respiratory failure segment holds a higher share in the high flow oxygen therapy devices market.

This can be attributable to the rising COVID-19 cases that lead to acute respiratory failure in the infected patients and require non-invasive respiratory support. However, throughout the period, pneumonia is expected to gain considerable growth as the pandemic situation gets better.

What is the Scope of Growth in 500 beds and Above Hospitals Segment?

500 beds and above hospitals currently leading the market, 500 beds and above hospitals have reflected significant growth with an -2.4% CAGR. The overburden of COVID-19 patients in large hospitals which were majorly catering to the infected population has primarily led to the dominance of this segment.

Competitive Landscape

The leading key players are focusing on innovation and launching new technologies for increasing the efficiency of products. These companies are investing increasingly in research and development to maintain their competitive edge and status in the market. Developing new technologies and delivering them for the betterment of the patients’ health is the key strategy adopted by most companies.

For instance, in June 2020, Armstrong Medical introduced the second generation FD140i, an improved dual therapy flow driver with an easier transition from CPAP to HFOT

In 2020, Resmed launched CPAP mask-Airlift f30i for Hospitals and Respiratory Care Physicians in the U.S

Scope of the Report

Key Questions Answered in Report

• How much is the High Flow Oxygen Therapy Devices Market worth?

  The high flow oxygen therapy devices market will reach worth of US$ 1.7 Bn in the year 2021 and is expected to reach US$ 1.4 Bn by 2031 owing to the rising prevalence of acute respiratory failures due to the covid-19 pandemic.

• What is the demand outlook of the High Flow Oxygen Therapy Devices Market?

  High flow oxygen therapy devices are projected to record high demand in the forecast period. The overall market is forecast to exhibit a CAGR of -6.4% during 2021-2025 and 1.4% from 2025-2031.

• At what rate did the High Flow Oxygen Therapy Devices Market rise in the last 5 years?

  Historically, the market has grown at a CAGR of 23.9% from 2016 to 2020.

• What are the key trends of High Flow Oxygen Therapy Devices?

  Growing community infection to increase high flow nasal cannula and continuous product development and new launches are some of the prominent trends which drive the demand for high flow oxygen therapy devices.

• What factors are driving demand for High Flow Oxygen Therapy Devices?

  The growing burden of respiratory diseases and increase in the ageing population are the major driving factors.

• What is the market share of the top players in the High Flow Oxygen Therapy Devices Market?

  The cumulative market share of the top players including Koninklijke Philips N.V., Fisher & Paykel Corporation Ltd., Resmed Corporation, Drägerwerk AG & Co. KGaA and Teleflex Corporation constitutes around 64.8% of the overall fragmented market.

• What are the top 5 countries driving demand for High Flow Oxygen Therapy Devices?

  India, China, the U.S., India, Japan, China and Germany are the top 5 countries that are driving the demand for High Flow Oxygen Therapy Devices.

• At what rate will the sales of High Flow Oxygen Therapy Devices rise in Europe?

  Europe accounts for significant revenue share in the overall high flow oxygen therapy devices Market in 2021. Germany remains the fastest growing country, and is forecast to record a CAGR of -7.2% during 2021-2025 and 1.7% over the forecast period of 2025-2031.

• At what rate will the high flow oxygen therapy devices market grow in East Asia?

  The East Asia market is set to exhibit a CAGR of -5.9% during 2021-2025 and 1.5% during 2025-2031.

• Which companies are key manufacturers of high flow oxygen therapy devices?

  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., Intersurgical Inc., Inspired Medical, WILAMed GmBH, Besmed Health Business Corp, Shenzhen Micomme Medical Technology Development Co., Ltd, Shenyang RMS Medical Tech Co. Ltd. and BMC Medical Co., Ltd.

• What are the key high flow oxygen therapy devices market statistics in Korea and Japan?

  Japan’s high flow oxygen therapy devices market is expected to hold a share of 37% in East Asia during the forecast period. South Korea is expected to account for 21% of sales in the region through 2031.

High Flow Oxygen Therapy Devices Market by Category

Product:

• High Flow Nasal Cannulas
• High Flow Oxygen Masks
• Breathing Circuits
• Heated Humidifiers
• Accessories

Application:

• Pneumonia
• Acute Respiratory Failure

End-User:

• Less than 100 Beds Hospitals
• 100-250 Beds Hospitals
• 250-500 Beds Hospitals
• 500 Beds and Above Hospitals

Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• The Middle East and Africa (MEA)