New York, Sept. 12, 2022 (GLOBE NEWSWIRE) -- The high flow oxygen therapy devices market was worth US$ 1.7 Bn at the end of 2021, according to detailed industry analysis by Persistence Market Research.
Initially only used in intensive care units, the use of high flow oxygen therapy has since been extended to emergency rooms, paediatric inpatient wards, pre- and inter-hospital transfer settings, and occasionally, home healthcare.
Despite the U.S. FDA only authorizing high flow oxygen therapy devices as a means of administering an optimal oxygen therapy humidification and not to provide positive pressure, the emergence of more elementary and portable devices has greatly favoured their propagation as an alternative for BiPAP or CPAP.
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In addition, HFNC is less expensive than CPAP or BiPAP in terms of device cost and routine management. High flow oxygen therapy devices are also a means of non-invasive ventilation. These devices display greater patient compliance, as tolerance and patient compliance are also key factors in the success of non-invasive techniques.
According to a large-scale randomized controlled trial that was published in the Annals of Translational Medicine journal in 2017, intolerance to non-invasive ventilation can affect 20%-25% of patients treated for hypoxemic acute respiratory failure and result in intubation in around 10% cases.
With the emergence of the global COVID-19 pandemic, the market for high flow oxygen therapy devices witnessed a worldwide surge.
Increasing burden of respiratory diseases, development of healthcare infrastructure and facilities, and rising advancements in technology are factors thus set drive the global market for high flow oxygen therapy devices over the coming years.
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Key Takeaways from Market Study
- Heated humidifiers held around 48.1% market share in 2021.
- By application, acute respiratory failure accounted for 90.5% of the global high flow oxygen therapy devices market share in 2021.
- By end user, 500 and above bed hospitals held a market share of 51.3% in 2021.
- Around 29% of the global market share, by region, was accounted for by North America in 2021.
“With greater patient compliance, ease of use, and cost-efficient use of products, the market for high flow oxygen therapy devices is set to gain traction over the forecasted years,” says an analyst of Persistence Market Research.
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Market Competition
- Leading manufacturers of high flow oxygen therapy devices are resorting to mergers and acquisitions to enhance their product portfolio and facilitate new product launch activities. Market players are also working to bring in new products owing to rising recall activities initiated by FDA for oxygen therapy devices.
- Vapotherm, Inc. declared a significant growth in its capacity to manufacture capital equipment in June 2020. This growth is anticipated to allow the company to produce Precision Flow® systems up to 20X than it did before the COVID-19 pandemic.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the high flow oxygen therapy devices market in its latest study, presenting a historical demand assessment of 2017 – 2021 and projections for 2022 – 2032.
The research study is based on the product (high flow nasal cannulas, high flow oxygen masks, breathing circuits, heated humidifiers, accessories), application (pneumonia, acute respiratory failure), and end user (less than 100 bed hospitals, 100-250 bed hospitals, 250-500 bed hospitals, and 500 and above bed hospitals), across seven key regions of the world.
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