The latest market report published by Credence Research, Inc. “Capnography Equipment Market Growth, Future Prospects, and Competitive Analysis, 2018 – 2026” the capnography equipment market was valued at US$ 264.3 Mn in 2017 and expected to reach US$ 390.5 Mn by 2026 at a CAGR of 4.5 % during the forecast period from 2018 to 2026.
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The global capnography equipment market shows productive growth during the forecast period from 2018 to 2026 attributed to an increase in the prevalence of respiratory disorders, rising surgical procedures and emergency cases globally. Capnography devices monitor the levels of expiratory carbon dioxide respiratory gases during intensive care, anesthesia, and procedural sedation. Novel technology advancement in capnography equipment technology, the rise in manufacturing and demand for sidestream, microstream capnographs & consumables is driving the market growth during the forecast period. Production of top quality devices with increased cost in the equipment segment such as multiparameter capnographs and standalone capnographs is also a major factor driving the overall growth. The sidestream capnography is leading the global market owing to its proficiency of patient monitoring in emergency & non-intubated conditions, ease of use, and availability of portable devices. Development of point-of-care/portable capnography devices and clinical benefits over pulse oximetry is gaining traction during the forecast period. Moreover, increasing applications in cardiac care, trauma & emergency care, respiratory monitoring, and home care is further generating the demand for capnography equipment globally.
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Other major factors driving the growth include rising hospitalizations for respiratory diseases, increasing ambulatory care segment (mainly to diagnose hypoxia during critical conditions), advancement in the digital industry, and utilization of advanced systems in the mainstream and sidestream capnography. Major external factors include expansion of healthcare facilities with high top quality equipment & tools, increasing mortality and morbidity rate of patients, increasing number of surgical procedures globally (procedural sedation), and new product launch is generating maximum revenue share during the forecast period. In addition, increasing partnerships with hospitals, strategic alliances by private players and utilization of top services in the capnography equipment (post-operative monitoring, patient monitoring for anesthesia, hypoventilation, esophageal intubation, endotracheal tube placement, and others) is growing significantly, majorly in the developed nations.
In addition, growing advancements in R&D for capnography equipment technology, implementation of point of care diagnostics, availability of medical reimbursements for capnography equipment, government and organizational support (American Society of Anesthesiologists, Association of Anaesthetists of the Great Britain & Ireland, European Resuscitation Council, Intensive Care Society) for various capnography applications is further going to spur revenue growth during the forecast period.
However, the high cost of the capnography equipment, less follow-up of guidelines related to the clinical use of capnography, low awareness about the treatment and management, shortage of skilled professionals in the developing nations to operate capnography, are few factors limiting the growth of the capnography equipment market globally. Other external factors include increased regulations for medical devices by governing bodies mainly in Europe, India, China, and Japan, and less availability of advanced systems in healthcare settings.
Key Market Movements:
- Globally, the capnography equipment market remains to exhibit a profitable growth with a CAGR of 4.5% for the period from 2018 to 2026
- Higher technology assessment in the microstream equipment segment is gaining traction in the market
- Latin America, Eastern Europe, and the Asia Pacific to show promising opportunities and shows growing CAGR during the forecast period owing to rising awareness among the individuals about new capnography equipment technology
- Growing number of advanced healthcare settings, easy accessibility of branded equipment, and increasing healthcare spending in developing nations along with rising cases for asthma will contribute to the growth of the market.
- Major players in this vertical are Drgerwerk AG & Co. KGaA, Burtons Medical Equipment, Ltd., Masimo Corporation, Koninklijke Philips N.V., NIHON KOHDEN CORPORATION, Smiths Group PLC, Welch Allyn, Inc., Medtronic PLC, Infinium Medical, Nonin Medical, Inc. and others.
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