According to Future Market Insights (FMI), the global high-flow oxygen therapy devices market generated USD 1,494.8 million in revenue in 2023 and is projected to grow to USD 1,567.2 million by 2033, reflecting a modest CAGR of 0.5% during the forecast period.
This market growth is driven by the rising prevalence of acute respiratory failure among infected patients and the increasing adoption of non-invasive respiratory support systems. High-flow oxygen therapy devices are proving to be vital in clinical settings, offering effective respiratory support while enhancing patient comfort.
Among the key components, heated humidifiers are in high demand, contributing to 48.18% of total high-flow oxygen therapy device sales in 2023. Heated humidifiers play a crucial role in optimizing oxygen therapy by preventing dryness and ensuring patient well-being, further driving their widespread adoption.
Key Takeaways:
- Market Performance: High-flow oxygen therapy devices market to grow from USD 1,494.8 million in 2023 to USD 1,567.2 million by 2033 at a 0.5% CAGR.
- Increased Demand: Rising cases of acute respiratory failure and growing use of non-invasive respiratory support are key growth drivers.
- Heated Humidifiers Lead: Heated humidifiers account for over 48.18% of sales in 2023, underlining their importance in therapy applications.
- Clinical Relevance: The effectiveness of high-flow oxygen therapy in enhancing patient outcomes solidifies its role in modern healthcare.
What are the Winning Strategies Adopted by Market Competitors?
The leading key players rely on innovation and release new devices equipped with advanced technology to boost production efficiency. These companies are investing increasingly in research and development to maintain their competitive edge and status in the market. Developing new technologies and delivering them for the betterment of the patient’s health is the key strategy adopted by most companies.
For instance, Armstrong Medical released the second generation FD140i in June 2020. The device is a better dual therapy flow driver with an easier changeover from CPAP to HFOT.
In 2020, Resmed launched the CPAP mask-Airlift f30i for hospitals and respiratory care physicians in the United States.
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.
A Full Report Analysis
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)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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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