The global high-flow oxygen therapy devices market has demonstrated significant growth, reaching a revenue of USD 1,494.8 million in 2023, according to a recent report from Future Market Insights (FMI). Fueled by advancements in device manufacturing and development, the market is anticipated to expand steadily at a CAGR of 0.5%, projecting total revenue of USD 1,567.2 million by 2033.
High-flow oxygen therapy devices are essential in the treatment of severe respiratory diseases, a critical area of need given the high incidence of respiratory conditions worldwide. The FMI study highlights that the growth trajectory of this market is being supported by strong healthcare infrastructures in developed regions and an increased demand for precision-targeted, patient-specific medical devices.
The report emphasizes several factors expected to positively influence market growth over the coming years. Key drivers include rapid technological advances in medical assistive devices and growing investments in healthcare infrastructure, especially in developed economies. Manufacturers have a significant opportunity to innovate in response to increasing demands for high-performance, patient-tailored devices that support critical respiratory care needs.
However, the market faces notable challenges, such as high device costs, potential patient discomfort, and a shortage of trained healthcare personnel, which may impact overall growth. Furthermore, recent product recalls in the sector have underscored the importance of stringent quality controls and may pose obstacles to wider market adoption.
Despite these challenges, the future of high-flow oxygen therapy devices remains promising, with strong demand driven by an increasing focus on enhanced respiratory care solutions. Industry stakeholders are encouraged to leverage opportunities in innovation and patient-centric design to maintain a competitive edge in the evolving landscape of respiratory health.
Top Highlights from the FMI’s Analysis of the High-flow Oxygen Therapy Devices Market:
- The North America high-flow oxygen therapy devices industry is projected to attain a 29.8% value share in 2022.
- The United States high-flow oxygen therapy devices industry rules the North America market. The nation’s share in the market in 2022 was 28.7%.
- The Europe market gained a 16.6% value share in 2022.
- Germany has enjoyed a significant share of the high-flow oxygen therapy devices industry by attaining a 4.5% market share in 2022.
- The Japan high-flow oxygen therapy devices industry gained a market share of 7.8% in 2022.
- The Australian market is projected to register a CAGR of -0.7% from 2023 to 2033.
- The China high-flow oxygen therapy devices industry is expected to expand at 0.8% in the forecast period.
- The Indian market is anticipated to record a CAGR of -0.3% in the coming years.
- The United Kingdom’s high-flow oxygen therapy devices industry is projected to register a CAGR of -0.3% in the forthcoming years.
- Based on product, the heated humidifiers segment attained a 48.18% market share in 2022.
- Based on the application, acute respiratory failure is projected to acquire more than 90.46% in 2023.
- Under the end-user category, the ‘500 beds and above’ segment procured a market share of 51.5% in 2022.
Soaring Demand for Market Information: Uncover Detailed Trends and Insights in Our Report!
Market Update: New Developments Taking Place in the Market
- Movair, previously called International Biophysics Corporation, released Luisa in October 2021. The latter is a complex ventilator for use in institutions, homes, and hospitals or for portable applications for invasive and non-invasive ventilation. To cater to the increasing demand for effective and safe ventilators, Luisa was introduced to the masses post the FDA’s Emergency Use Authorization.
- Noccarc Robotics Pvt. Ltd, which is IIT Kanpur incubate firm, introduced the Noccarc H210 in August 2020. This device was effective in treating COVID-19 patients.
- Goa Medical College bought 274 Carina ventilators in 2020. These ventilators were bought from Draeger in the initial months of the COVID-19 outbreak.
- Inspired Medical stated that its Inspired O2FLOTM gained FDA permission for emergency use in May 2020. The device can be deployed to treat patients suffering from hypoxemia or other serious respiratory symptoms.
Key Players in the Market:
- 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.
- BMC Medical Co., Ltd.
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 in Hospitals
- 100 to 250 Beds Hospitals
- 250 to 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)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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