PUBLISHER: Grand View Research | PRODUCT CODE: 1529621
PUBLISHER: Grand View Research | PRODUCT CODE: 1529621
The global nasal cannula market size is expected to reach USD 11.47 billion by 2030, based on a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.8% from 2024 to 2030. The rise in prevalence of respiratory diseases and the growing geriatric population contribute majorly to the growth of the market. The lifestyle changes, rising percentage of smokers, climatic conditions, and the increasing air pollution attributes majorly to the growing prevalence of respiratory diseases.
Moreover, the current Covid-19 pandemic has further propelled the demand for medical devices worldwide. The surge in the adoption of the single-use nasal cannula was prevalent in all the settings, including hospitals, home settings, and care centers. Furthermore, the medical device witnessed a surge in demand during the pandemic facilitating oxygen delivery in all settings, including hospitals and home care.
The development in the medical device by different key players of the market has further propelled the adoption due to innovation in the nasal cannulas to provide more flexibility and comfort to the patients. The recent developments in high-flow nasal cannula facilitate expanding the usage at low-level healthcare settings or home use leading to further market growth.