The high-flow oxygen therapy devices market revenue totaled USD 1,494.8 million in 2023, according to Future Market Insights (FMI) study. The overall sales of high-flow oxygen therapy devices are expected to reach USD 1,567.2 million by 2033, at a CAGR of 0.5% from 2023 to 2033.
With the growing incidence of acute respiratory failure in infected patients and the requirement for non-invasive respiratory support, sales are expected to improve over the forecast period. Demand for heated humidifiers is also projected to grow, accounting for more than 48.18% of high-flow oxygen therapy device sales in 2023.
| Attribute | Details |
|---|---|
| High-flow Oxygen Therapy Devices Market Size (2023) | USD 1,494.8 million |
| High-flow Oxygen Therapy Devices Market Size (2033) | USD 1,567.2 million |
| High-flow Oxygen Therapy Devices Market CAGR (2023 to 2033) | 0.5% |
| High-flow Oxygen Therapy Devices Market Size (2022) | USD 1,805.1 million |
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The rising prevalence of respiratory diseases, increasing community infections, and hospital-acquired infections are creating opportunities for high-flow nasal flow cannula products. Furthermore, growing investments by key players for the development of an advanced product that is easy to use and provides comfort to users are also expected to create growth opportunities shortly for the high-flow oxygen therapy devices market.
Demand for high-flow oxygen therapy in new pathogen outbreaks and high return on investment could be realized by increasing manufacturing capabilities in times of new pathogen/infection emergence providing opportunities for key players in the market.
Direct costs related to respiratory disease are higher, which requires a unified strategy that helps in real breathing help. The overall high cost associated with oxygen therapy, from hospitalization to post-discharge care, is expected to slow down the growth of the market. This hindrance is dominant in developing and emerging regions.
According to Future Market Insights (FMI), the sales of high-flow oxygen therapy devices are projected to expand at a 0.5% CAGR from 2023 to 2033. Going forward, the market is projected to be driven by the following factors:
The heightened cases of hospital-acquired respiratory infections led to market growth in the historical period, thus resulting in its high growth rate of 28.4% CAGR from 2018 to 2022. In December 2019, the COVID-19 pandemic engulfed the world. This highly transmissible respiratory disease significantly spiked the demand for medical masks, gloves, and other equipment like oxygen therapy devices.
The World Health Organization (WHO) recommended medical equipment and personal protection to contain the spread of the virus. Following the outbreak, governments across the globe increased manufacturing by 40% to meet the rising demand for medical equipment such as oxygen therapy devices. In 2022, the market stood at USD 1,805.1 million.
Over the forecast period, the market is projected to witness a significant low in terms of CAGR. From 2023 to 2033, FMI has predicted a reduced CAGR of 0.5%, in contrast to the 28.4% CAGR witnessed during the historical period, especially during the pandemic.
The historical growth was run by manic purchases of high-flow oxygen therapy devices. The growth has subsided, as have the Covid-19 cases.
Other aspects acting as non-cooperative factors include the high cost of these devices. The initial investment needed to obtain these devices and the ongoing operational costs could cut short their adoption, particularly in resource-constrained healthcare settings.
Intense competition from low-cost alternatives like nasal cannulas and standard oxygen masks might hinder the adoption of high-flow oxygen devices.
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| Country/Region | Market Share % (2022) |
|---|---|
| North America | 29.8% |
| The United States | 28.7% |
In 2023, the United States is estimated to account for over 96% value share in North America. Acute respiratory failure (ARF) is still a significant cause of morbidity and mortality among pediatric and adult demographics. The annual mortality rate is generally ranging between 50% and 70%, with the incidence in the United States as high as 150,000 cases.
The risk of ARF increases with age and is especially high among people aged 65 and above. Thus, the growing aging population with high incidences of respiratory diseases and the need for high-flow oxygen therapy is creating lucrative growth opportunities in North America, specifically in the United States.
| Country/Region | Market Share % (2022) |
|---|---|
| Europe | 16.6% |
| Germany | 4.5% |
Germany is anticipated to represent more than 24% of the Europe market in 2033. Continuous product development and new launches are boosting the market growth in the country. Also, the presence of companies such as Drägerwerk AG & Co. KGaA is supporting expansion in Germany.
Leading industry players are leveraging opportunities for technological developments to achieve product effectiveness and minimum complications. Manufacturers in Europe are focusing on aspects such as minimal surface contact friction of cannulation, optimum access, accurate delivery and positioning of the cannula, and physician's and patient convenience to increase the demand for high-flow oxygen therapy devices.
For example, in February 2019, Hamilton Medical AG launched a single-use nasal cannula- Nuflow, for high-flow oxygen therapy in neonates. The cannulas were made available in four sizes, including a pair of fixation patches and one adapter (OD 15 mm).
The Australia market is projected to exhibit an -5.7% CAGR from 2021 to 2025 and 1.8% from 2025 to 2033 throughout the forecast period. With increasing incidences of respiratory illness and growing adoption of high-flow oxygen therapy devices, i.e., around 4,394 heated humidifiers installed in the country in 2020, these factors are supplementing the market growth.
| Country | India |
|---|---|
| Value CAGR % (2023 to 2033) | -0.3% |
The India market is projected to account for more than 58% of the sales registered in South Asia in 2023. Various factors, such as increasing government spending, growing investment by leading players, and various government and non-government organizations' awareness programs, supplement market growth in the region.
| Country | China |
|---|---|
| Value CAGR % (2023 to 2033) | 0.8% |
The market for high-flow oxygen therapy devices in China is exhibiting a 0.8% CAGR and is expected to account for more than 36% of the East Asia market in 2033. The increasing prevalence of respiratory diseases, escalating geriatric population, and increasing adoption of high-flow oxygen therapy in a patient with acute respiratory failure (ARF), pneumonia, asthma, and interstitial lung disease are expected to surge demand for high-flow oxygen therapy devices in China.
| Segment | Heated Humidifiers Segment |
|---|---|
| Value Share % (2022) | 48.18% |
The heated humidifiers segment is projected to show steady growth, reflecting a high share of 48.18% in 2022. Increasing customer awareness about respiratory diseases such as asthma, sinusitis, and other allergies is driving the demand for heated humidifiers in the market.
| Segment | Acute Respiratory Failure |
|---|---|
| Value Share % (2022) | 90.46% |
The acute respiratory failure segment is projected to show steady growth in the forecast period with a CAGR of -3.1% accounting for a market share of 90.46% in 2022. The acute respiratory failure segment holds a higher share in the high-flow oxygen therapy devices market.
Pneumonia is expected to grow considerably throughout the forecast period as the pandemic improves.
Five hundred beds and above hospitals are leading the market; 500 beds and above hospitals have reflected significant growth with an -2.4% CAGR. The overburden of COVID-19 patients in large hospitals, which were primarily catering to the infected population, has primarily led to the dominance of this segment in the historical period. The segment is slowly losing its significance post the pandemic.
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
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value. |
| Key Countries Covered | The United States, Canada, Germany, the United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, South Africa |
| Key Segments Covered | Product, Application, End User, and Region |
| Key Companies Profiled | 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. |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The high-flow oxygen therapy devices industry is projected to reach a valuation of USD 1,567.2 million by 2033.
Vapotherm, Inc. and ResMed are the top players in the high-flow oxygen therapy devices industry.
The United States is projected to hold a sizeable market share over the forecast period.
The high-flow oxygen therapy devices industry is projected to thrive at a CAGR of 0.5%.
| Estimated Market Size (2024E) | USD 15.3 billion |
|---|---|
| Projected Market Value (2034F) | USD 21.6 billion |
| Value-based CAGR from 2024 to 2034 | 3.5% |
| Industry Value in 2023 | USD 59.28 billion |
|---|---|
| Industry Value in 2033 | USD 163.84 billion |
| Industry CAGR (2023 to 2033) | 10.7% |
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High-flow Oxygen Therapy Devices Market
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