|Status : Published||Published On : Sep, 2021||Report Code : VRHC1217||Industry : Healthcare||Available Format :||Page : 208|
The global capnography devices market was valued at USD 365.0 million in 2020 and is expected to grow at a CAGR of 6.3% during the forecast period (2021–2027). The market is growing due to technological upgradations being undertaken in emerged and emerging economies in capnography devices. Furthermore, extensive number of incidences pertaining to respiratory diseases and increasing initiatives being undertaken by the government authorities for the utilization of capnography devices is another factor that is significantly contributing towards the rapid growth of global capnography devices market.
Capnography is used for assessing ventilation that is different form oxygenation. Capnograph is a waveform that observes the CO2 level at each phase of the respiratory cycle and is generally in a rectangular shape and is also used for measuring and displaying the respiratory rate. Waveform capnography is used for identifying patients with an altered mental status that require assisting ventilation. The inhaled and exhaled levels of carbon dioxide are presented in a graphical manner as a waveform on the monitor along with display of corresponding numerical value and these benefits are further uplifting growth of global capnography devices market.
Insight by Product
On the basis of product, the global capnography devices market is segmented into stand-alone, hand-held, and multi-parameter. Amongst these segments, hand-held segment is anticipate to generate largest revenue by 2027 owing to various benefits pertaining to hand-held devices such as point of care features for the ease of use and comfort of patients that are provided by these devices.
Insight by Technology
Based on technology, the global capnography devices market is categorized into the mainstream, micro stream, and side stream. Amongst these segments, micro stream technology is expected to witness fastest growth during the forecast period, owing to excessive utilization of this segment for improving safety profile of patients.
Insight by Application
On the basis of application, the global capnography devices market is segmented into critical care, emergency medicine, pain management, procedural sedation, and others. Amongst these segments, emergency medicine is estimated to contribute largest revenue owing to use of these devices for safer treatment of patients in emergency department.
Insight by End User
Based on end user, the global capnography devices market is categorized into ambulatory care centers (ACCs), hospitals, and others. Amongst these segments, hospitals are anticipated to generate largest revenue owing to rapid use of these devices for treating various diseases globally.
Extensive number of complex surgeries across the globe is anticipated to drive the growth of global capnography device market. Capnography devices are rampantly being used in operating rooms that help in monitoring ventilation during sedation. Furthermore, increasing number of surgical process globally will further lead to increasing adoption and demand for the capnography devices that attribute towards increasing business growth. Moreover, extensive benefit of capnography devices such as portability, ease of use, light weighted and treatment efficiency are further expected to bolster the growth of global capnography devices market.
Increasing number of patients diagnosed with respiratory diseases, increasing government initiatives and technological upgradation in capnography devices are another factor that are pertaining towards the growth of global capnography devices market. Technological upgradation undertaken in this market comprises of molecular correlation spectroscopy, photo detectors and assimilation of diminished mainstream multi-gas monitors. Furthermore, owing to these advancements, capnography devices are considered to become safe, highly accurate and have adjustable rate of flow.
Additionally, technological enhancements will facilitate reclamation and moisture contamination of large sample volume and prevents moisture contamination as compared to that of traditional techniques.
However, wide scale availability of inexpensive alternatives in developing countries is the key factor that is anticipated to hamper the growth of global capnography devices market in the near future.
In 2020, North America held the largest market share in terms of revenue. The rising prevalence of respiratory diseases as a consequence of unhealthy lifestyles and high stress levels are the high impact rendering drivers. Furthermore, the incorporation of new reimbursement models for respiratory and monitoring solution procedures and the stringent regulatory guidelines that are aimed towards medical efficacy, patients’ safety, and clinical efficiency are expected to drive the regional demand in the forthcoming years.
Capnography devices market in North America is anticipated to generate largest revenue of owing to increasing number of respiratory diseases cases occurring in the region owing to unhealthy lifestyles of the population along with high level of stress prevailing amongst the citizens. Furthermore, strict regulatory procedures implemented in the region for securing patients along with new reimbursement plans are other factors that are pertaining towards the growth of capnography devices market in the region.
Moreover, Asia-Pacific is anticipated to witness highest CAGR during the forecast period owing to increasing expenditure towards healthcare domain, increasing benefits and awareness being developed amongst the citizens for pertaining to advantages of capnography devices along with rapid improvement in healthcare system in various developing countries are another factors that are driving the growth of capnography devices market in this region.
The eminent key players in the global capnography devices market are extending their product portfolios, undertaking product innovations and technological upgradations that are enabling the manufacturers to gain competitive advantage across the globe.
Some of the players having prominent presence in the global capnography devices market include Philips Healthcare, Smiths Medical, Welch Allyn, Masimo Corporation, Nihon Kohden Corporation, Dragerwerk AG & Co. KGaA, Inc., Medtronic, Inc., Nonin Medical, Inc., CareFusion Corporation, and DiaMedica, Inc.
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry includes, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behaviour.
Source: VynZ Research
Source: VynZ Research