Capnography Device Market Size, Share, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Capnography Device Market


The global Capnography Device market size is projected to reach US$ 1580.06 million by 2026, from US$ 591.29 million in 2020, at a CAGR of 17.8% during 2021-2026. Rising incidence of chronic conditions, such as cancer and diabetes, is creating the need for efficient medication delivery, thereby driving the growth. According to the Cancer Research U.K., cancer results in highest number of deaths globally, which has raised the clinical urgency to adopt advanced alternatives, such as capnography device. According to the American Cancer Society, in 2018, almost 1.7 million new cancer cases were registered in U.S. while almost 0.6 million people died due to cancer.

Consequentially, increasing adoption of capnography in anesthesia administration in target applications, such as monitoring patients undergoing procedural sedation, intubated patients during patient transfer in hospitals, and in patient-controlled analgesia, is presumed to boost the product demand over the forecast period. In addition, rising application surgical procedures, such as hypoventilation, endotracheal tube placement, and esophageal intubation is anticipated to further drive the growth.

The aforementioned surgeries are accompanied with better patient outcomes that includes faster detection of respiratory insufficiency, increased acceptance towards due to higher sensitivity and improved patient safety profile. These benefits are expected to increase the usage in near future. Moreover, rising geriatric population and susceptibility of geriatric population towards developing lung disorders are further anticipated to widen the consumer base for capnography procedures over the forecast period.

Moreover, rising geriatric population being more susceptible towards developing lung disorders is anticipated to drive the demand for capnographs. The aforementioned surgeries are accompanied with better patient outcomes that include faster detection of respiratory insufficiency, increased acceptance of this technology due to higher sensitivity, and improved patient safety profile. These benefits are expected to increase the usage of these equipment.
Rising prevalence of respiratory diseases, such as Chronic Obstructive Pulmonary Disease (COPD), pulmonary embolism, and asthma that require intensive respiratory monitoring, is expected to drive the demand. Increasing need for capnography in emergency medicine, prolonged illnesses, and protracted treatments associated with lung diseases in children and adults is expected to drive the market growth. In addition, benefits of capnography such as better optimization of post-operative outcomes, long-term efficacy, improved overall efficiency, and rapid response time are expected to facilitate the growth.

Market Segmentation, Outlook & Viewpoint: Global Capnography Device Market

Component Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

  
OEM Modules
  
Infrared Sources
  
Others
  
Others

Product Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

  
Handheld
  
Standalone
  
Multi-parameter

Technology Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

  
Main stream
  
Side stream
  
Microstream

Application Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

  
Emergency Medicine
  
Pain Management
  
Procedural Sedation
  
Critical Care
  
Others

End Use Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

  
Hospitals
  
Ambulatory Care
  
Others

Key Players, Recent Developments & Regional Insights: Global Capnography Device Market

The handheld product segment held the largest share in 2018 as a result of the increasing adoption of the product due to the benefits associated with handheld capnographs. These majorly include high portability, facilitation of required oxygen saturation levels in operative procedures, high durability, and low associated costs.
Multi-parameter segment is expected to expand at a lucrative CAGR of 19.1% over the next seven years owing to increasing application of the product in emergency medicines and procedural sedation. Furthermore, advancements in capnographs inclusive of miniaturization of sensors and incorporation of multi-sensors in a single device to enable simultaneous monitoring of multi-gasses have resulted easy and faster sample collection and long-term deployment. The aforementioned factors are anticipated to propel demand for multiparameter capnographs during the forecast period.

Application Insights

This device has wide application in the treatment of procedural sedation in dentistry and is thereby expected to register a lucrative CAGR of above 19.0% over the forecast period. It offers non-invasive, real-time, and continuous measurement by producing capnograms, which help assess the present status of patients circulatory and metabolic systems. These benefits are expected to increase the adoption of these devices, thereby providing growth to the overall market in near future.

Emergency medicine is anticipated to expand at a steady CAGR during the forecast period. Capnographs are increasingly used in emergency medicine to optimize prehospital ventilation, to handle pediatric emergencies, in ambulatory care centers, and as a prognostic indicator for pulmonary blood flow. Moreover, evolving guidelines and recommendations to include capnography in emergency medicine by the American Heart Association (AHA) and European Resuscitation Council to improve patients odds of survival are fueling the demand.

Procedural sedation is anticipated to be the fastest growing segment at CAGR 19.1% during the forecast period. This lucrative growth can be attributed to the rising number of research activities exhibiting benefits of capnography in sedation procedures. In addition, new guidelines pertaining to procedural sedation by organizations such as American Society of Anesthesiologists (ASA) to promote capnography in diagnostic and therapeutic procedures due to associated benefits are expected to drive the market.

End Use Insights

The hospital segment held the largest market share in 2018. It is used as a preventive measure to tackle critical events in ICUs. The adoption of capnography procedures is increased in hospitals owing to their enhanced capabilities for calculating patient ventilators measurement, minimally invasive nature, and ease-of-usage. The industry is expected to register upward growth due to the rising incidences of cardiac arrest and thereby creating the need for the effective patient monitoring during the forecast period.

Moreover, organizations such as the American Society of Anesthesiologists and the Uruguayan Society of Anesthesiologists recommended capnography monitoring during anesthetics and procedural sedation. These guidelines support the importance of capnography device in hospital use. In addition, the high influence of the U.S. healthcare system on global healthcare industry has further driven the segment growth.

Regional Insights

In 2018, North America held the largest market share in terms of revenue. The rising prevalence of respiratory diseases as a consequence of unhealthy lifestyles and high stress levels are the high impact rendering drivers. Furthermore, the incorporation of new reimbursement models for respiratory and monitoring solution procedures and the stringent regulatory guidelines that are aimed towards medical efficacy, patients safety, and clinical efficiency are expected to drive the regional demand in the forthcoming years.

Asia Pacific capnography device market is anticipated to expand at a significant CAGR of 18.5% over the forecast period owing to the expeditiously improving healthcare systems and rising healthcare expenditure and awareness regarding the benefits of this technology.

Capnography Device Market Share Insights

Some key players are Smiths Medical; Dragerwerk AG & Co. KGaA.; Welch Allyn, Inc.; Masimo Corporation; Philips Healthcare; Medtronic, Inc.; Nonin Medical, Inc.; Nihon Kohden Corporation; CareFusion Corporation; and DiaMedica, Inc.

These players are incorporating strategies such as product launches, geographical expansions, collaborative agreements, and acquisitions, to capture bigger market share. For instance, in 2016, Covidien acquired Oridion for the expansion of capnography segment, which resulted in the sales of USD 100 million in 2013. Moreover, Covidien launched Capnostream 20p, which enabled the company to strengthen its product portfolio.

Key Insights Covered: Global Capnography Device Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Capnography Device industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Capnography Device industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Capnography Device industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Capnography Device industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Capnography Device industry.

Research Methodology: Global Capnography Device Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other