COVID-19 Impact on High Flow Oxygen Therapy Devices in Healthcare Industry | Data Bridge Market Research


Posted July 8, 2021 by digitalmarketing7793

High flow oxygen therapy device has been proved to be the safe and efficient treatment for Coronavirus cases. Numerous organizations have taken initiatives in supplying high flow oxygen therapy devices

 
COVID-19 Impact on High Flow Oxygen Therapy Devices in Healthcare Industry

Coronavirus disease is an irresistible and fatal illness caused by novel severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2). This pandemic created an outbreak uncovering a significant shortcoming in healthcare systems. This potentially prompts acute respiratory distress syndrome (ARDS), causing intense respiratory trouble. As indicated by World Health Organization, the quantity of COVID cases continues to build, given which the demand for medical therapy devices additionally increments. This alongside increases the demand for respiratory support care for extreme pneumonia and ARDS conditions worldwide. According to a World Health Organization report released by October 2020 states, almost 50% of 3300 million worldwide labor force and markets are in danger of losing livelihoods. As per BBC, the overall global economy shrunk by 4.4% in 2020, considering the growth of Gross Domestic Product GDP during the COVID outbreak. The only economy to grow in 2020 was China as a 2.3% development. A significant portion of web-based retailing has definitely become an over Coronavirus effect of 3.9 trillion USD in 2020.
Considering the fact, COVID patients have severe breathing illness, need for oxygen therapies are higher. Contrasting other oxygen therapy device market, the increased flow oxygen therapy market has a high effect due to its immediate nasal action because of COVID-19, the demand for high flow oxygen therapy market with products like trans-tracheal catheters, venturi mask, aerosol mask, tracheostomy collars, t-piece, Non-rebreathing mask with reservoir and one way valve, high humidity face tents arise. Every product holds with different other strengthening items tag along.
According to the weekly operational update on the COVID-19 report by World Health Organization on 8th March 2021, uncovered affirmed cases to be 116,363,935 (116.4 Million) and affirmed death cases are 2,587,225 worldwide because of COVID.

IMPACT ON DEMAND:
Even without considering the COVID impact, the oxygen therapy market was anticipated valuation development of USD 2.8 billion by 2020. According to a study, around 350 million individuals are enduring acute to chronic asthma conditions, making due in the requirement for oxygen therapies to keep up stable for at some point until the body recuperates for characteristics respiration. Fundamentally, this market growth before the Coronavirus outbreak was subjected to the demand for medical treatment over conditions like COPD, Bronchiectasis, oxygen therapy, chronic cough, and other acute and chronic pulmonary diseases. Extended pollution throughout the year 2015-2019 likewise has been the reason for the said condition. Despite the fact that invasive ventilations saved various patients with respiratory misery, the invention of high flow nasal cannula created major impact over the market because they were less invasive. The conventional oxygen therapy can supply 16L per min oxygen however high flow oxygen therapies provide 60L per min which explains its massive achievement in market globally both on and before COVID-19. In any case, the effect of Coronavirus has seen noticeable spike in development over the market globally. According to NIH, The clinical trial usage of High flow nasal cannula for COVID 19 has successfully been completed by June 5, 2020.
The majority of Coronavirus patients are intended to have severe breathing issues and this market has given benefits of improved breathing conditions and a lower danger of cardiovascular breakdown. This demonstrates the high demand over the market and its advantages of overall market improvement globally. The high flow oxygen therapy device market has asserted novel devices to aid breathing inconvenience. They are normally applied with compressed air and controlled humidity in different Coronavirus cases. Nasal cannula and mask are given for COVID-19 patients with low risk, but high flow oxygen therapies are used.
During Coronavirus impact, the market's demand targets a product such as a nasal cannula, non-rebreathing masks or partial rebreathing masks, high flow nasal cannula and hyperbaric oxygen therapy.
Many companies have started producing high flow oxygen therapy device, For example, Nocca Robotics launched High flow oxygen therapy device, Noccarc H210 for critical care treatment specifically for COVID 19 patients. The product was released on September 1,2020.
IMPACT ON SUPPLY:
The pandemic and the lockdown announcements have marked their clear impact over supply chains globally from manufacturer’s to wholesalers and retailers in numerous markets. Most emergency clinics and Coronavirus treatment focuses are in significant requirement for high flow oxygen therapy devices because of their wide application.
As indicated by World Health Organization (WHO), the hypothetical computation for 100 patients, with 75% as severe and 25% critical case condition, explains the high necessity of high flow oxygen therapy devices at clinics, especially during this pandemic. The products in need include oxygen cylinders, concentrators (PSA), oxygen plants (PSA), and liquid oxygen.
Emergency delivery of high flow oxygen therapy devices to hospitals has been delayed because of lockdown. This condition has affected the supply chain of the global high flow oxygen therapy device market to a lower extent.

KEY INITIATIVES BY MARKET PLAYERS DURING COVID-19:
High flow oxygen therapy device has been proved to be the safe and efficient treatment for Coronavirus cases. Numerous organizations have taken initiatives in supplying high flow oxygen therapy devices, minding the fact they have crossed clinical trials successfully.
For instance, one of the market's significant players – Salter Labs, aside from their significant high flow nasal cannula production, has also delivered new products for Coronavirus. They are:
• CPAP masks released as best-rated masks for COVID patients, aiding in respiration.
• NIV masks for acute care with an affordable range
Likewise, Flexicare has taken additional initiatives regarding oxygen therapy products, like a non-rebreathing mask.
Most importantly, Smith’s Medicals has taken comprehensive initiatives towards the situation, including vaccine production. They provide wide delivery of protective equipment’s, high flow oxygen therapy devices globally. One of their major products in this market is inspired O2FLO, which has been claimed safe and no disinfection.

CONCLUSION:
COVID-19 outbreak has created a major impact not just on individuals' livelihoods but also in various market areas. Even though the government and medical services have taken numerous initiatives, its spread is continuously increasing. This expands the requirement for much medical equipment and emergency clinic necessities to treat Coronavirus patients regularly. Individuals are getting familiar with primary evaluated masks and oxygen therapy devices as the COVID-19 cases keep increasing. Comparing other regions, Asia-Pacific is anticipated to have wide development in this market in mind of rising patients and awareness. Even though the global high flow oxygen therapy devices market was in the step of development considering the pollution and raised respiratory cases, this emerged COVID-19 outbreak had expanded the market's growth enormously.
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Issued By DBMR
Business Address Pune
Country India
Categories Health , Medical
Tags high flow oxygen therapy devices market analysis , high flow oxygen therapy devices market by application , high flow oxygen therapy devices market by type , high flow oxygen therapy devices market development , high flow oxygen therapy devices market forcast , high flow oxygen therapy devices market future innovation , high flow oxygen therapy devices market , high flow oxygen therapy devices
Last Updated July 8, 2021