New York, NY -- (SBWIRE) -- 11/30/2020 -- Nasal Oxygen Tube Market To Reach USD 10.12 Billion by 2027

According to a recent current analysis of Reports and Data, the global Nasal Oxygen Tube Market size that was valued at USD 4.73 billion in 2019, is expected to reach USD 10.12 billion by year 2027, registering a CAGR of 7.7%. The nasal oxygen tube industry has grown from nascent to the advanced stages very rapidly fueled by needs of critical patients.

Increasing demand for advanced healthcare from both paediatric and geriatric population worldwide are the main industry drivers. The increasing incidences of chronic respiratory diseases like Chronic Obstructive Pulmonary Disease (COPD), pneumonia asthma, are also creating growth opportunities for the industry. These diseases require urgent hospitalization and care, and upon hospitalization, patients need nasal oxygen tubing to maintain their respiratory functions. As developing countries are strengthening their healthcare infrastructure, the problem of hospital acquired infection (HAI) and cross-contamination are coming into focus which need to be addressed. Thus, the demand for single use nasal oxygen tubes is on the rise, which will positively affect industry growth.

The WHO predicts that global population older than 60 years will surpass 2 billion by 2050, which might lead to increasing chronic respiratory diseases being diagnosed which augments the demand for nasal cannulas. Nasal oxygen tubes are quite cost effective and are presently available in many variations which also take into consideration aspects such as patient comfort while using the products. For instance, Smith Medical and Salter Labs manufactures ultra-soft nasal tubes, which is expected to drive industry growth.

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North America has the leading share in the nasal oxygen tube market mainly because of such trends as an ageing population, rise in the number and cases of chronic disorders and massive investments in healthcare.

Asia Pacific region will witness the highest CAGR over the forecast period in the nasal oxygen tube industry due to cost advantages, expansion in ailing population and an increased need of hygiene-based healthcare. In 2019, 10% of healthcare investment is expected to be in R&D. China and India are anticipated to witness a huge surge in the nasal oxygen tube market as the aging population expands in China and Asia Pacific region by 2050, along with increased healthcare spending by governments in the region. Developing countries are increasing their public healthcare spending, and as such, the number of hospitals and clinics is expected to rise where these products are majorly deployed.

Latin America and Middle East and Africa will also be showing an average growth of around 13.2% till 2027. In Latin America, the healthcare cost is considerably low, and these products are a good investment by hospitals to provide safe and effective care to patients.

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:

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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

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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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