The global capnography equipment market is expanding rapidly, with a value of US$ 264.3 million in 2017 and a projected value of US$ 390.5 million by 2026. Globally increasing surgical procedures and post-operative monitoring, the high prevalence of respiratory diseases, and the use of advanced respiratory monitoring equipment drive overall market growth.
New technology advancement in the field of various applications, such as cardiac care, trauma, and emergency care, is growing significantly. New product launches in the point of care and portable equipment segments are driving growth in the developed regions. In the product segment, mainstream equipment is expected to lead market growth due to its higher accuracy and increased adoption. Worldwide associations and organizations (WHO, the Forum of International Respiratory Societies, the European Resuscitation Council (ERC), and others) are now recommending the use of capnography equipment during patient monitoring for anesthesia to improve patient safety. As indicated by the WHO and the Global Asthma Report, around 300 million people suffer from asthma globally. Also it has also been advocated by the WHO to utilize monitoring throughout certain medical procedures, such as endotracheal tube placement, hypoventilation, and esophageal intubation.
Moreover, the demand for portable equipment is gaining traction in hospital settings. Moreover, rising incidences of trauma, asthma cases, and emergency cases, increasing medical tourism for plastic and cosmetic surgery, easy affordability, demand for progressive diagnostic methodologies, and adoption of advanced equipment, along with favorable reimbursement policies, fuel the demand for capnography equipment globally. However, the high cost of equipment, lack of skilled technicians, lack of awareness, and affordability issues are responsible for restraining the growth of the capnography equipment market globally.
The Mainstream Capnography Product Segment is expected to register higher growth by the end of 2026.
The adoption of mainstream capnography is in demand due to its higher accuracy and benefits; however, the sensors are expensive to replace. In various areas, the micro stream method for end-tidal CO2 (EtCO2) measurement is utilized. Major applications of capnography can be seen in the severity of asthma patients, monitoring head-injured patients, cardiac arrest, and tube confirmation. Sidestream capnography is also widely utilized globally and holds the largest market share in the global market due to its ease of use with thin tubing sets, very few or no problems in sterilization, and support in the monitoring of non-incubated elements assisted with nasal adapters.
For instance, more than 360,000 cases of respiratory failure are filed every year in the U.S., and around 30% of deaths happen during hospitalization, as indicated by the American Thoracic Society. Preference for disposable consumables is high due to the high risk of hospital-acquired infections and other contamination risks associated with reusable consumables. The disposables segment is also generating a significant revenue share due to its regular requirement for evaluating and monitoring CO2 levels.
Increasing Admissions Due to Respiratory Disorders in the Hospital Segment to Witness a Significant CAGR
Respiratory diseases and other chronic diseases are significant variables expected in the growth and development of the capnography equipment market. As per the American Academy of Allergy, Asthma & Immunology, around 2,000,000 individuals in the U.S. are admitted to emergency centers due to asthma. There is a growing demand for mainstream and sidestream capnography products for various applications, such as intubated patients during patient transfer in ambulatory care and hospitals, monitoring patients experiencing procedural sedation, patient-controlled analgesia, and others. Increasing surgical procedures along with rising advanced healthcare facilities in Europe and the Asia Pacific are major factors in expanding the growth of the end-user segment.
The rise in usage of multiparameter products is gaining traction due to their growing applications in emergency medicine. A noteworthy development in hospitals, ambulatory centers, and research organizations has sustained the market for capnography equipment due to its ease of use, minimally invasive nature, and enhanced capabilities in respiratory and monitoring procedures.
North America has a dominant position due to its rising population, new product launches, and the presence of top players.
In 2017, North America generated the largest revenue share in the global capnography equipment market, which can be attributed to the rising prevalence of respiratory disorders and asthma, increasing surgical procedures, and increasing utilization of top equipment as a standard of care (critical and emergency medicine) for general anesthesia and deep or moderate sedation. Other factors contributing to the overall growth of the market include higher adoption of micro steam capnography products (which can be utilized for the neonatal population and on patients after surgery), high demand for effective CO2 monitoring, new product launches, and increased applications in emergency care, point-of-care, military, and veterinary segments globally. Furthermore, a few limitations in pulse oximetry applications may result in the positive adoption of capnography equipment.
Major external factors contributing to the growth include growing awareness, increasing hospitalizations, rising FDA approvals for new guidelines and products or services, and the presence of top key manufacturers in the U.S. and Europe. Nevertheless, in low-income nations such as China, India, South Africa, Brazil, and others, the availability of advanced equipment and services is limited. Lack of trained physicians, a poor supply chain, the inconvenient nature of the medical treatment, and the high cost of devices are restraining the development of the market.
The dominance of multinational manufacturers with strong product portfolios in the developed regions
Major players in the capnography equipment market are Drgerwerk AG & Co. KGaA, Burtons Medical Equipment, Ltd., Masimo Corporation, Koninklijke Philips N.V., Nihon Kohden Corporation, Smiths Group PLC, Welch Allyn, Inc., Medtronic PLC, Infinium Medical, Nonin Medical, Inc., and others. Topmost companies are executing growth strategies along with new technology advancements in capnography equipment models, new product launches, and partnerships with medical organizations. For example, in June 2017, IntelliVue X3 was launched by Philips in Europe, which is mainly aimed at continuous monitoring throughout in-hospital transportation and at the bedside. Also, in February 2017, Masimo Corporation declared U.S. FDA clearance and the universal launch of the full family of NomoLine capnography product sampling lines. In October 2013, Medtronic launched the Capnostream 20p bedside monitor, which featured the Apnea-Sat Alert algorithm.
Periods of History and Forecast
This study report includes an analysis for each segment from 2016 to 2026, with 2017 as the base year. The compound annual growth rate (CAGR) for each of the respective segments is estimated for the forecast period from 2018 to 2026.
Report Scope by Segments
The current report also includes qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities to provide a more comprehensive understanding of the overall capnography equipment market. Additionally, the global report also comprises a graphical representation of the competitive landscape based on their market initiatives and strategies, product portfolios, and business strengths.
Key questions are answered in this report.
- What are the current market trends and dynamics in the capnography equipment market, and what are the valuable opportunities for emerging players?
- What is the market positioning of the major market players?
- Which segment accounts for the fastest CAGR during the forecast period?
- Which product type holds a larger market share and why?
- What is the impact of high costs in the capnography equipment market?
- Are low- and middle-income economies investing in the capnography equipment market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and the Middle East and Africa?