Nasal Oxygen Tube Market to Reach USD 10.12 Billion by 2027
The global market size of the Nasal Oxygen Tube, estimated at USD 4.73 billion in 2019, is projected to hit USD 10.12 billion by 2027, with a CAGR of 7.7 percent, according to a recent review of Reports and Data. The nasal oxygen tube industry has evolved very quickly from nascent to advanced stages, fuelled by vital patient needs.
The key drivers of the industry are the growing demand for specialised healthcare from both paediatric and geriatric populations worldwide. Growth opportunities are also provided for the industry by the growing incidences of chronic respiratory diseases such as Chronic Obstructive Pulmonary Disease (COPD) and pneumonia asthma. These diseases need immediate hospitalisation and treatment, and to preserve their respiratory functions, patients need nasal oxygen tubing upon hospitalisation. The issue of hospital-acquired infection (HAI) and cross-contamination is being tackled as developed countries are improving their healthcare infrastructure. The market for single-use nasal oxygen tubes is also on the rise, which will have a positive impact on the growth of the industry.
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The WHO estimates that by 2050, the global population older than 60 years would reach 2 billion, which may contribute to the diagnosis of increased chronic respiratory diseases, increasing the need for nasal cannulas. Nasal oxygen tubes are very cost-effective and are currently available in several variants that often take elements such as patient satisfaction when using the items into account. Smith Medical and Salter Laboratories, for example, produce ultra-soft nasal tubes, which are expected to fuel development in the industry.
The leading share of North America in the nasal oxygen tube market is primarily due to factors such as an ageing population, an increase in the number and cases of chronic diseases and significant investments in healthcare.
Over the forecast period in the nasal oxygen tube industry, the Asia Pacific region will experience the highest CAGR due to cost benefits, expansion in ailing communities and an increased need for hygiene-based healthcare. In 2019, 10 per cent of the spending in healthcare is expected to be in R&D. As the ageing population in China and the Asia Pacific region grows by 2050, along with increased healthcare spending by governments in the region, China and India are expected to see a huge increase in the demand for nasal oxygen tubes. Developing countries are increasing their expenditure on public healthcare and as such, it is expected that the number of hospitals and clinics where these products are mainly deployed will increase.
By 2027, Latin America and the Middle East and Africa will also show an average growth of approximately 13.2 percent. Healthcare prices are considerably low in Latin America, and these items are a good investment for hospitals to provide patients with safe and efficient care.
Prominent market plyers in the nasal oxygen tube market include:
- Flexicare Limited
- Salter Labs
- Smiths Medical Inc
- Teleflex Inc
- Fairmont Medical
- Hamilton Medicals
- Neotech Products
- Sunset Healthcare Solutions Inc.
Nasal Oxygen Tube Market: Segmentation
For the purpose of this study, Reports and Data has segmented the Nasal Oxygen Tube market by type, by services, by product, by software and by region:
Product Type (Revenue in USD Million; Volume in Tons, 2017–2027)
- Low-flow nasal oxygen tube
- High-flow nasal oxygen tube
Applications (Revenue in USD Million; Volume in Tons, 2017–2027)
- Chronic Obstructive Pulmonary Disease (COPD)
- Acute Respiratory Failure
- Carbon Monoxide Toxicity
- Bronchiectasis
- Others
End Users (Revenue in USD Million; Volume in Tons, 2017–2027)
- Hospitals
- Ambulatory Service Centres (ASC)
- Others
Region (Revenue in USD Million; Volume in Tons, 2017–2027)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East and Africa
- Latin America
- Brazil
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