A number of factors, such as the increasing incidence of respiratory diseases, growing aging population, rising technological advancements in the medical devices industry, and surging government initiatives are expected to drive the capnography devices market at a CAGR of 5.7% during 2020–2030. According to P&S Intelligence, the market was valued at $422.1 million in 2020, and it is expected to generate $736.6 million revenue by 2030. In recent years, partnerships and acquisitions among players have become a key market trend.
One of the key growth drivers for the market is the growing prevalence of respiratory diseases, such as chronic obstructive pulmonary disease (COPD), pulmonary hypertension, and asthma. According to the World Health Organization (WHO), asthma affected approximately 262 million people and accounted for 461,000 fatalities globally in 2019. Furthermore, the WHO states that COPD was responsible for 3.23 million deaths in 2019. To manage such respiratory diseases, physicians and patients are increasingly adopting capnography devices.
Request for sample pages of this report: https://www.psmarketresearch.com/market-analysis/capnography-devices-market/report-sample
Another growth driver for the capnography devices market is the rising technological advancements in such medical devices. Recent technological advancements such as the incorporation of molecular correlation spectrography (MCS) and photo detectors in micro-stream capnography devices and the adoption of miniaturized main-stream multi-gas monitors help in enhancing the safety and accuracy levels in such devices. Additionally, these advancements aid these instruments in adjusting the flow rate, which facilitates the retrieval of large sample volumes and prevents moisture contamination.
Under the product segment, the capnography devices market categories are hand-held, multi-parameter, and stand-alone. Among these, the hand-held category generated the highest revenue during the historical period (2015–2020), and it is expected to continue this trend throughout the forecast period due to the small size, portability, and smooth use offered by hand-held devices. Whereas, the multi-parameter category is expected to demonstrate the fastest growth during the forecast period, as multi-parameter capnography devices can be easily integrated into patient monitoring systems to detect various parameters of patients.
Geographically, North America accounted for the largest share in the capnography devices market in 2020. This was due to the strong presence of eminent market players, high prevalence of respiratory ailments, existence of developed healthcare infrastructure, and extensive knowledge about capnography among the healthcare professionals in the region. For instance, the U.S. Centers for Disease Control and Prevention (CDC) estimates that nearly 4.6% of adults in the country are living with emphysema, COPD, or chronic bronchitis.
Browse detailed report on Capnography Devices Market Trends, Business Strategies, Regional Outlook, Challenges and Analysis Through 2030
The Asia-Pacific (APAC) capnography devices market is projected to display the fastest growth during the forecast period. This will be on account of the increasing cases of respiratory disorders, booming demand for advanced respiratory monitoring systems, surging incidence of preterm births, and mounting number of government initiatives. For instance, the Australian Bureau of Statistics (ABS) estimates that chronic respiratory illnesses affected around 31% of the Australians in 2018. As per the ABS, asthma and chronic sinusitis affected around 2.7 million and 2.0 million people in Australia, respectively, in 2018.
Therefore, the surging incidence of respiratory diseases and rising technological advancements in capnography devices will facilitate the market growth.
Market Size Breakdown by Segments
By Product
- Hand-Held
- Stand-Alone
- Multi-Parameter
By Technology
- Side-Stream
- Main-Stream
- Micro-Stream
By Component
- Original Equipment Manufacturer (OEM) Modules
- Infrared sensors
By Application
- Emergency Medicine
- Critical Care
- Procedural Sedation
- Pain Management
By End User
- Hospitals
- Ambulatory Care Centers (ACCs)
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia-Pacific
- China
- Japan
- India
- Australia
- Latin America
- Brazil
- Mexico
- Middle East and Africa
- South Africa
- Saudi Arabia
- U.A.E.
Browse More Related Reports
Ventilator Market – Geographically, North America is currently dominating the ventilator market. This is attributed to the growing incidence of chronic diseases and the surging population of geriatric people in the region.
Respiratory Care Device Market – Globally, the North American respiratory care device market generates the highest revenue, due to the surging incidence of respiratory diseases, growing geriatric population, and mounting healthcare spending.
Media Contact
Company Name: P&S Intelligence
Contact Person: Abhishek
Email: Send Email
Phone: +918887787886
Address:Noida Sector 2
City: Noida
State: UP
Country: India
Website: https://www.psmarketresearch.com/market-analysis/capnography-devices-market