The Europe high flow nasal cannula market is expected to reach US$ 3,298.04 Mn in 2027 from US$ 1,327.65 Mn in 2018. The market is projected to grow with a CAGR of 10.8% from 2019-2027.
The key factors that are driving the growth of the High-Flow Nasal Cannula market are growing asthma cases in adults and children, and increasing lung cancer conferences across Europe. However, the factors restraining the market growth are side effects associated with high flow nasal cannula.
In Europe, lung cancer is the biggest cancer killer, accounting for 20.8% of all cancer deaths. Nevertheless, it has been observed that recent progress in lung cancer research now offers new hopes for the future. In the UK, during the year 2014 - 2016, there were around 47,200 new lung cancer cases every year. It is the 3rd most common cancer, accounting for 13% of all new cancer cases. In the UK, lung cancer is the 2nd most common cancer in females, with approximately 22,300 new cases in 2016. However, In males, it was the 2nd most common cancer during the year 2016, with 25,000 new cases. Incidence rates for lung cancer are highest in people aged 85 to 89. Over the last decade, lung cancer incidence rates have been increased by less than a twentieth (2%) in the UK. Other chronic diseases includes COPD, asthma, and etc. Older people with asthma often need high doses of medication, in spite of mild asthma attacks. Therefore, they are more likely to suffer from respiratory failure much faster as compared to the younger population. Also, COPD can appear at any age. However, it is more prevalent in the older population and can be fatal. The aging population is growing exponentially worldwide.
UK is anticipated to lead the adoptions of high flow nasal cannula across the Europe region through the forecast period. Respiratory diseases in the UK are a significant burden on the economy of the country and cost a substantial amount of their expenditure. The annual economic burden of respiratory conditions such as asthma and COPD on the NHS in the UK is estimated to be around US$ 3.0 billion (i.e., £3 billion) and nearly US$ 2.47 billion (i.e., £1.9 billion) respectively. Moreover, the overall expenditure of all the lung conditions, including lung cancer, directly costs the NHS in the UK approximately US$ 14.30 billion (i.e., £11billion) annually.
UK High Flow Nasal Cannula Market Revenue and Forecasts to 2027 (US$ Mn)
Europe High Flow Nasal Cannula market
By Country
Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 1,327.65 Million |
| Market Size by 2027 | US$ 3,298.04 Million |
| CAGR (2019 - 2027) | 10.8% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Component
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
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The Europe High-Flow Nasal Cannula Market is valued at US$ 1,327.65 Million in 2018, it is projected to reach US$ 3,298.04 Million by 2027.
As per our report Europe High-Flow Nasal Cannula Market, the market size is valued at US$ 1,327.65 Million in 2018, projecting it to reach US$ 3,298.04 Million by 2027. This translates to a CAGR of approximately 10.8% during the forecast period.
The Europe High-Flow Nasal Cannula Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe High-Flow Nasal Cannula Market report:
The Europe High-Flow Nasal Cannula Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
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