The market for capnography device is expected to grow at a CAGR of around 17.8% from 2021 to 2028 and expected to reach the market value of around US$ 1,800.5 Mn by 2028.
Capnography is used to test airflow. Capnograph is a waveform that tracks the amount of CO2 during each step of the breathing cycle, is usually rectangular in shape, and is also used to calculate and view breathing rate. Capnography of the waveform is used to classify patients with modified mental state and need ventilation. The inhaled and increased amounts of carbon dioxide are displayed as a waveform on a graphical map, along with the corresponding numerical value, to further improve the world's capnography product market.
The report provides analysis of global Capnography Device market for the period 2017-2028, wherein 2021 to 2028 is the forecast period and 2020 is considered as the base year
Increasing respiratory disease incidences, technical developments in capnographic equipment and extended policy efforts to promote the use of capnography equipment are primary factors that have a positive effect on business development. Furthermore, an increase in number of operations is projected to fuel global demand growth in capnography during the forecast period. In 2016-2017, 2.7 million hospitalizations required surgery, according to the Australian Institute for Health and Welfare. In addition, the growing number of in-patient and out-patient procedures is projected to further raise the demand for capnography devices, which will accelerate the market growth of capnographic devices.
Improved capnography devices will improve the pulse oximetry which will boost the demand for capnography devices over the projected period. The rise in the market for capnography equipment is due to capnography benefits, such as testing CO2 in real-time and detecting ventilation automatically relative to oxymetry. In addition, technical advancements to make it compact and automatic in capnography devices are expected to drive the development of the target market during the forecast period. Capnography equipment is often versatile and requires competent practitioners. High prices for equipment and a lack of qualified practitioners are thus projected to curtail the rise in capnography during the forecast era.
Increased prevalence of respiratory disorders is projected to have a beneficial impact on business development. It is also predicted that increased efforts by authorities and policymakers to strengthen healthcare services and raise awareness about the benefits by capnographic tools would accelerate market demand.
Covid-19 Impact on Global Capnography Device Market
The pandemic has a positive effect on the capnography market, as most countries are on war against the pandemic. Moreover, most leading companies have been greatly affected by capnography devices, and as a result of COVID-19 there is a strong demand for extracorporeal life-support devices. Moreover, in 2020, the world capnography market experienced rise dramatically and is expected to continue the trend until the end of the forecast period. In addition, even after managing the pandemic situation, the capnography market is expected to sustain growth. Furthermore, according to the World Health Organization, 40 year-olds and above are vulnerable to coronavirus infections and face serious respiratory problems that are expected to have a positive effect on the development of the capnography industry. For example, some businesses combine their company with capnographic system manufacturers to address the shortage of capnograph required for the care of patients with COVID-19. All these aspects are expected to impact in the future on the capnography market.
Regional Instance of Global Capnography Device Market
North America was the main market for capnographic devices in 2020. The regional demand is led primarily by a rise in respiratory medicine, the emergence of prominent industry players providing capnography equipment, better healthcare services and a high degree of awareness among health professionals in the region. At the same time, the Asia Pacific market is expected to see the highest growth as there is a strong demand for better respiratory systems, increased awareness, increased numbers of government initiatives and increased premature delivery accidents in the region.
Key Market Players
The players profiled in the report include Participants include major CareFusion, Medtronic, Masimo Corporation, Smiths Medical and Others.
Other companies combine approaches such as releases of products, global extensions, joint partnerships and acquisitions to gain a larger market share. In 2015 for example, Covidien purchased Oridion, which led to revenue of US$ 100 Mn in 2013, to grow the capnography market. Covidien has also introduced the Capnostream 20p that enables its product range to be improved by the firm
Capnography Device Market By Product
Capnography Device Market By Application
Capnography Device Market By End Use
Ambulatory surgical centers
The market for Capnography Device is expected to reach a market value of around US$ 1,800.5 Mn by 2028.
The Capnography Device market is expected to grow at a CAGR of around 17.8% from 2020 to 2028.
North America held highest market share in 2019.
Asia Pacific is projected to be the fastest growing region in the global market.
Increasing respiratory incidences, technical developments in capnographic equipment and extended policy efforts to promote the use of capnography equipment are primary factors that have a positive effect on business development.
Lack of skilled professionals is the main challenge in the global market.
CareFusion, Medtronic, Masimo Corporation, Smiths Medical and others are the prominent players in the Capnography Device market.