Capnography Equipment Market
Number of pages: 100 | Report Format: PDF | Published date: 03 March, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market size value in 2022 |
US$ 345.27 million |
|
Revenue forecast in 2031 |
US$ 504.76 million |
|
Growth Rate |
CAGR of 4.31% from 2023 to 2031 |
|
Base year for estimation |
2022 |
|
Forecast Period |
2023-2031 |
|
Historical Year |
2021 |
|
Segments covered |
Product, Technology, Application, End-users, and Region. |
|
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
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.
Market Fundamentals
Capnography is a medical diagnostic instrument that measures the concentration of carbon dioxide (CO2) in a patient's exhaled breath. It's 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 is a technique for monitoring a patient's breathing rate and depth, detecting airway obstruction and apnea, and diagnosing and treating respiratory illnesses. It can also be used to examine the patient's metabolic rate, diagnose metabolic acidosis and metabolic alkalosis, and monitor the efficiency of CPR. Capnography equipment is manufactured by several companies, including GE Healthcare, Philips, and Masimo. The capnograph, airway adapter, sampling line, sample chamber, and CO2 sensor are commonly offered as kits.
[8567657]
Market Dynamics
Consistently, rising prevalence of respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, and sleep apnea is driving 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 (ICUs), and operating rooms. The increasing demand for capnography equipment in these settings contributes to the growth of the global market. Technology advancements have led to more advanced capnography equipment, including portable devices and capnography monitors with wireless connectivity. Due to growing research on the technologies, such innovations are making capnography more accessible and convenient for healthcare professionals, driving the market 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. In addition, favorable reimbursement policies and growing acquisition and/or partnerships drive market growth by increasing demand for capnography equipment. Acquisitions and partnerships among players operating in the capnography devices market result in improved 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 would integrate additional Masimo Corporation's 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
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
[85675765]
Based on the product, the global capnography equipment market can be further segmented into capnometers and capnography accessories & disposables.
The capnometers are expected to lead the global market with a significant revenue share. Capnometer is further bifurcated 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 carbon dioxide in the exhaled air. The growing need for enhanced and precise monitoring of respiratory functions is propelling the capnometer industry forward. Additionally, the rising frequency of respiratory disorders and increased awareness among healthcare professionals about the benefits of capnometry are likely to drive sector growth.
Capnography Equipment Market by Technology
Based on technology, the global capnography equipment market can be further segmented into mainstream capnography, side stream capnography, and micro stream capnography.
Mainstream capnography registered for the largest revenue share in the global market in 2022, ascribed to the vast range of applications and benefits. Mainstream capnography is known for accurately measuring 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, use on patients of all ages, from neonates to adults, making it a versatile tool in healthcare settings. Healthcare providers highly adopt this technology due to its accuracy, ease of use, and reliability. This has led to a 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 of the global capnography equipment market.
Capnography Equipment Market by Application
Based on the application, the global capnography equipment market can be further segmented into cardiac care, procedural sedation, respiratory disorder monitoring, emergency & trauma care, pain management, and others.
Cardiac care segment account for a significant share of the global market. The rising prevalence of cardiological illnesses such as coronary artery disease is a key market 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, cigarette use, obesity, sedentary behavior, diabetes, and other risk factors can all lead to heart disease. According to the Centers for Disease Control and Prevention (CDC), roughly 697,000 fatalities in the United States were caused by heart illness in 2020.
The respiratory disorder monitoring segment is estimated to show significant growth during the projected period. The growth of this segment can be attributed to rising demand for effective respiratory monitoring solutions, growth in the prevalence of respiratory disorders, and increasing 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 further segmented into hospitals, specialty clinics, ambulatory surgical centers (ASC), and home care settings.
Hospitals dominate 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 an increase in the number of procedures for respiratory illnesses. Additionally, due to growing, public and private organizations in emerging economies are focused on investing in healthcare. The widespread availability of new technology 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 with the same machine. This also makes it easier for pulmonologists to identify respiratory disorders. Thus, all these factors contribute to the dominance of the hospital segment, thereby propelling the global market.
Capnography Equipment Market by Region
Based on the region, the global capnography equipment market can be further 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 frequency of respiratory disorders due to unhealthy lifestyles and high stress levels is a major driving force in the regional market. Moreover, the adoption of new reimbursement models for respiratory and monitoring solution treatments in North America and severe regulatory criteria focused on patient safety, medical efficacy, and clinical efficiency are projected to fuel product demand in the coming years.
The market in the Asia Pacific region is anticipated to grow at a rapid pace during the forecast period. The continuous growth of this region can be attributed to the constant advancement in healthcare systems, a rise in healthcare expenditure, and growing awareness among end users in the region about the adoption of capnography technology.
Competitive Landscape
The prominent players operating in the global capnography equipment are:
Strategic Development
The global capnography equipment market is expected to be valued US$ 504.76 million in 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 CAGR of 4.31% during the forecast period from 2023 to 2031.
The growing prevalence of respiratory disorders, rising technological advancement, and growing acquisitions and/or collaborations are key drivers in the global market.
Medtronic Plc., BD, GE Healthcare, Koninklijke Philips N.V., and other notable players are prominent market players in the global capnography equipment market.
*Insights on financial performance are subject to the availability of information in the public domain
Using the fundamental research and knowledge services capabilities of GRG Health, Growth Plus Reports may now be tailored based on client needs.
GRG Health's unique GrowthMIX strategy and comprehensive research methodology enable us to provide unique and valuable insights to our clients while uncovering trends that would not be discovered using traditional techniques.
Snehal Deshmukh
Principle Consultant
Speak to analyst