Number of pages: 100 | Report Format: PDF | Published date: March 03, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
According to the deep-dive market assessment study by Growth Plus Reports, the global capnography equipment market was valued at US$ 345.27 million in 2022 and is expected to register a revenue CAGR of 4.31% to reach US$ 504.76 million by 2031.
Capnography Equipment Market Fundamentals
Capnography is a medical diagnostic instrument that measures the concentration of carbon dioxide (CO2) in a patient’s exhaled breath. It is a non-invasive way to track respiratory and metabolic activities. Capnography determines a patient’s breathing rate and depth, detects airway blockage and apnea, monitors CPR efficacy, and diagnoses and treats respiratory disorders. Capnography can also diagnose metabolic acidosis and metabolic alkalosis by indicating the patient’s metabolic rate. Capnography is often conducted using a capnograph, a device that monitors the concentration of CO2 in exhaled air. The capnograph comprises an airway adapter, a sampling line, a sample chamber, and a CO2 sensor. The sample line is linked to the airway adapter affixed to the patient’s airway. The CO2 sensor monitors the concentration of CO2 in the sample, which is filled with a sample of the patient’s exhaled breath. The capnograph then graphs the CO2 content in the patient’s exhaled breath.
Capnography Equipment Market Dynamics
The rising prevalence of respiratory diseases, such as chronic obstructive pulmonary disease, asthma, and sleep apnea, drives the demand for capnography equipment. Capnography is a non-invasive method for monitoring breathing patterns and detecting respiratory problems, making it a valuable tool in diagnosing and managing these diseases. Additionally, capnography is widely used in critical care settings, including emergency departments, intensive care units, and operating rooms. The increasing demand for capnography equipment in these settings contributes to the revenue growth of the global market.
Technological advancements have led to more advanced capnography equipment, including portable devices and capnography monitors with wireless connectivity. The increasing research on capnography technologies has made them more accessible and convenient for healthcare professionals, leading to market revenue growth. Moreover, this equipment is an effective tool for monitoring patient safety during procedures that require sedation or anesthesia. Hence, increasing awareness of the importance of patient safety is driving demand for capnography equipment in hospitals and other healthcare settings. Additionally, in many countries, capnography is covered by health insurance policies, making it more affordable for patients and healthcare providers. Moreover, favorable reimbursement policies and a rise in the number of acquisitions and/or partnerships drive market revenue growth by increasing demand for capnography equipment. Acquisitions and partnerships among players operating in the capnography devices market may improve patient access to new technologies, providing enhanced patient outcomes. For instance, in May 2020, Masimo Corporation and Koninklijke Philips N.V. announced their partnership. Philips was expected to integrate additional Masimo Corporation measurement technologies into select IntelliVue MX-series multi-parameter monitors, to help clinicians assess cerebral oximetry and ventilation status. With such acquisitions and partnerships, the manufacturing of capnography devices is expected to increase in the coming years.
However, the high cost associated with capnometers and the lack of skilled professionals may restrict revenue growth in the global market to some extent.
Capnography Equipment Market Ecosystem
The global capnography equipment market has been analyzed from five perspectives: product, technology, application, end-users, and region.
Capnography Equipment Market by Product
Based on the product, the global capnography equipment market can be segmented into capnometers and capnography accessories & disposables.
The capnometers segment is expected to lead the global market with a significant revenue share during the forecast period. The segment is sub-segmented into multi-parameter capnometers and stand-alone capnometers. Capnometers are the key component of capnography equipment. They play an important role in measuring the quantity of CO2 in the exhaled air. The growing need for enhanced and precise monitoring of respiratory functions is propelling the capnometer industry forward. Additionally, the rising cases of respiratory disorders and increasing awareness among healthcare professionals about the benefits of capnometry are likely to drive segment revenue growth.
Capnography Equipment Market by Technology
Based on the technology, the global capnography equipment market is segmented into mainstream capnography, side stream capnography, and micro stream capnography.
The mainstream capnography segment registered the highest revenue share in the global market in 2022, ascribed to the vast range of applications and benefits of the technology. Mainstream capnography accurately measures patients’ end-tidal carbon dioxide (EtCO2) levels. It provides continuous real-time monitoring of EtCO2 levels, making it ideal for use in critical care settings, such as anesthesia and intensive care units. It is used for a wide range of applications on patients of all ages, from neonates to adults, making it a versatile tool in healthcare settings. Healthcare providers adopt this technology due to its accuracy, ease of use, and reliability. This has led to high market demand for mainstream capnography equipment. Moreover, the development of new technologies has improved the accuracy and reliability of mainstream capnography equipment, further driving its demand in the market. Overall, mainstream capnography’s accuracy, versatility, and reliability have made it the preferred choice of healthcare providers, leading to its domination in the global capnography equipment market.
Capnography Equipment Market by Application
Based on the application, the global capnography equipment market can be segmented into cardiac care, procedural sedation, respiratory disorder monitoring, emergency & trauma care, pain management, and others.
The cardiac care segment account for a significant revenue share of the global market. The rising prevalence of cardiological illnesses such as coronary artery disease is a key segment driver. A lack of suitable nutrition leads to numerous cardiological disorders, and urbanization can be a major cause of the rise in cardiac ailments. Smoking cigarettes, obesity, sedentary lifestyles, and diabetes can all lead to heart disease. According to the Centers for Disease Control and Prevention, about 697,000 fatalities in the United States were caused by heart illness in 2020.
The respiratory disorder monitoring segment is estimated to register significant revenue growth during the projected period. The growth of this segment can be attributed to the rising demand for effective respiratory monitoring solutions, the increasing prevalence of respiratory disorders, and growing government initiatives to raise awareness about the importance of timely diagnosis and treatment of respiratory disorders.
Capnography Equipment Market by End-user
Based on the end-user, the global capnography equipment market can be segmented into hospitals, specialty clinics, ambulatory surgical centers (ASC), and home care settings.
The hospitals segment dominates the global market with the highest revenue share. The dominance of this segment can be attributed to improved hospital healthcare infrastructure, an increase in the number of multispecialty hospitals, and a rise in the number of procedures related to respiratory illnesses. Additionally, the growing focus of public and private organizations from emerging economies on investing in healthcare is driving revenue growth in the segment. The widespread availability of the latest technologies has increased the demand for capnography equipment among hospital medical professionals to simplify patient monitoring by allowing physicians to measure end-tidal CO2 and multiple vital signs using the same machine. This also makes it easier for pulmonologists to identify respiratory disorders, contributing to the dominance of the hospital segment.
Capnography Equipment Market by Region
Based on the region, the global capnography equipment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America accounts for the largest revenue share in the global market. The increased cases of respiratory disorders due to unhealthy lifestyles and high-stress levels are major drivers of the regional market. Moreover, the adoption of new reimbursement models for respiratory and monitoring solution treatments in North America and stringent regulatory criteria focused on patient safety, medical efficacy, and clinical efficiency are projected to fuel the product demand in the coming years.
The market in the Asia Pacific is anticipated to grow at a rapid pace during the forecast period. The continuous growth of this region can be attributed to the constant advancements in the healthcare system, a rise in healthcare expenditure, and an increase in awareness among end-users in the region about the advantages of capnography technology.
Capnography Equipment Market Competitive Landscape
The prominent players operating in the global capnography equipment are:
Capnography Equipment Market Strategic Developments
The global capnography equipment market is expected to be valued at US$ 504.76 million by 2031
The high cost of capnography devices and a lack of skilled professionals are expected to hinder market expansion throughout the projected period.
The global capnography equipment market is expected to grow at a revenue CAGR of 4.31% during the forecast period from 2023 to 2031.
The growing prevalence of respiratory disorders, rising technological advancements, and an increasing number of acquisitions and/or collaborations are driving revenue growth in the global market.
Medtronic Plc., BD, GE Healthcare, and Koninklijke Philips N.V. are among the notable players in the global capnography equipment market.
*Insights on financial performance are subject to the availability of information in the public domain