The global high flow oxygen therapy devices market was worth US$ 1.7 Billion in the year 2021 and is expected to reach US$ 1.4 Billion at a receding CAGR of 2% between 2021 and 2031.
The global high flow oxygen therapy devices market witnessed a boom in the pandemic era. However, the market has declined in the post-pandemic era and would continue to do so; especially with high flow oxygen therapy devices getting used for treating respiratory disorders rather than Covid. Though the WHO has stated that Covid-19 hasn’t been eradicated in entirety, the frequency of usage of high flow oxygen therapy devices is flattening as the severity of Covid-19 has minimized. Home care is being increasingly preferred by the patients; and the recovery rate is also beyond 90%.
On the other hand, the usage of nasal cannulas is on the rise by the ones suffering from acute respiratory disorders; but this rise would be linear and not exponential like it was during the pandemic.
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Future Market Insights has entailed these facts with future prospects in its latest market study entitled ‘High Flow Oxygen Therapy Devices Market’. It has its indigenous team of analysts and consultants to deploy a 360-degree view in its primary, secondary, and tertiary modes of research.
“India is expected to sway the high flow oxygen therapy market going forward”, says an analyst from Future Market Insights.
Key Takeaways from High Flow Oxygen Therapy Devices Market
- North America holds more than 30% of the market share due to numerous trials related to O2 therapy herein. On these grounds, North American Nocturnal Oxygen Therapy, in collaboration with the British Medical Research Council, did conduct research for studying long-term O2 therapy’s efficacy. Plus, hyperbaric oxygen therapy and TWO (Topical Wound Oxygen) therapy are gaining popularity.
- The Asia-Pacific is expected to witness maximum growth in high flow oxygen therapy devices market with continuous upgradation of medical infrastructure in India, especially in the post-Covid era.
Competitive Therapy Devices
- Armstrong Medical, in June 2020, came up with the 2nd generation FD140i; an enhanced dual therapy flow driver with simpler transition to HFOT from CPAP.
- Resmed, in 2020, tabled CPAP mask-Airlift f30i for the US-based hospitals and respiratory care physicians.
- UNICEF, in November 2021, entered into partnership with the government of the UK as well as Oxygen CoLab for developing a sturdy oxygen concentrator for usage in low resource settings. This development is a part of initiative for fighting Covid-19 and cater to demand for oxygen in the critical care settings.
- Movair (erstwhile International Biophysics Corporation), in October 2021, came up with Luisa (one of the advanced ventilators designed to be used in institutions, homes, portable applications, or hospitals for non-invasive as well as invasive ventilation. As such, Luisa has now been made available through the US FDA’s EUA (Emergency Use Authorization).
- Nocca Robotics Pvt. Ltd., in August 2020, came up with Noccarc H210 high-flow oxygen therapy device that has been reported to be more effective in treating Covid-19 patients. It’s compact and portable home ventilator.
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What does the Report say?
- The research study is based on product (high flow nasal cannulas, high flow oxygen masks, breathing circuits, heated humidifiers, and accessories), by application (acute respiratory failure and pneumonia), and by end-user (less than 100 beds hospitals, 100-250 beds hospitals, 250-500 beds hospitals, and 500 beds and above hospitals).
- With increasing occurrences of acute respiratory failure all across, the global high flow oxygen therapy devices market is expected to grow on a splendid note in the near future.
Key Players:
- 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.
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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
About FMI:
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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