USD 688.45 Million
Report ID:
SQMIG35A2381 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|Tables:
63
|Figures:
75
Capnography Devices Market size was valued at USD 688.45 Million in 2023 and is poised to grow from USD 756.61 Million in 2024 to USD 1610.1 Million by 2032, growing at a CAGR of 9.9% during the forecast period (2025-2032).
The capnography devices market growth is anticipated to go up in the following years based on government support, an increase in respiratory disease cases, and upcoming technological development. The most significant factors contributing to this development are high efficiency and reliability in treating respiratory diseases through increased adoption of capnography. Capnography is becoming increasingly valuable in clinical settings with its ability to monitor a patient's respiratory status especially in cases of critical care. 4.6% of individuals were diagnosed with chronic bronchitis, emphysema, or chronic obstructive pulmonary disease (COPD) in the year 2022, and thus, in general, there is a need for improved respiratory surveillance. In addition, around 791,000 ED visits were associated with COPD-related issues, and 4.2% of office-based physician visits consisted of a diagnosis of COPD. Further, technological advancements such as the invention of portable and handheld capnography equipment have helped augment the market. These advances also made it easier to incorporate with other monitoring systems, increase its accuracy and usefulness, and thus, capnography is now an essential tool in a variety of healthcare settings. Since the devices used for capnography are essential for monitoring the CO2 level during procedures, there has also been an increased demand for them because of the number of surgeries and especially those involving anesthesia that have mushroomed in recent times. This promises the effectiveness of anesthetic management and protection of a patient. The capnography devices industry is anticipated to grow substantially in the expected period due to the combination of these factors.
US Capnography Devices Market is poised to grow at sustainable CAGR for the next forecast year.
Global Market Size
USD 688.45 Million
Largest Segment
Sidestream
Fastest Growth
Sidestream
Growth Rate
9.9% CAGR
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Global Capnography devices Market is segmented on the Product, Application and region. By Product, the market is segmented into Hand-held, Stand-alone, Multi-parameter. By Technology, the market is segmented into Mainstream, Sidestream, Microstream. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Technology
Based on the 2023 capnography devices market analysis, the sidestream segment accounted for the highest share of 53.2% in terms of market revenue. The considerable growth is due to its extensive use in anesthetic monitoring by side-stream technologies. Devices equipped with side-stream technology have easier connectivity, and there is less chance of sterilization problems. For instance, EtCO2 monitoring, which requires highly accurate and reliable sensors, is one effective technique for diagnosing severe medical conditions such as hyper or hypothermia. Even at respiratory rates of up to 150 breaths per minute, the LoFlo sidestream sensor from Philips Respironics delivers crisp programs due to its advanced infrared absorption spectroscopy, which ensures that respiration rate and EtCO2 values are within acceptable limits.
As per the capnography devices market forecast, the microstream category is expected to grow at the fastest CAGR of 10.7%. Due to their versatility, microstream capnography devices are highly valued in healthcare. It is used in several locations such as operating rooms, intensive care units, emergency rooms, and patient transport. Patient monitoring is enhanced through various applications in clinical areas. In another instance, Medtronic received FDA 510(k) clearance in September 2022 of the RespArray patient monitor intended for use in medical-surgical units and procedural sedation. It integrates some of the most advanced technologies, including temperature monitoring, Nellcor pulse oximetry, microstream capnography, ECG, and noninvasive blood pressure (NiBP).
Analysis By End Use
The hospitals segment accounted for the highest proportion with a 57.7% market revenue share in 2023. This is because they are more widely used, have more ventilation measuring devices available, and are better at monitoring patients. As more operations are performed and lifestyle problems such as diabetes and respiratory conditions such as asthma become more common, the market is probably going to expand. Besides that, the availability of sophisticated infrastructure in hospitals in developed countries is expected to drive the growth in the segment. In 2023, there were approximately 6,129 hospitals with about 919,649 staffed beds in the United States, based on data from the American Hospital Association.
However, over the forecast period, the ambulatory care centers category is expected to grow at the fastest CAGR of 11.0%. The main reason for this trend is the growing demand for shorter hospital stays, faster recovery periods, and lower healthcare costs. Outside of a traditional hospital setting, patients and healthcare professionals alike seek options that make effective care, reduced costs, and convenience available. The development of technological advancements in minimally invasive treatments has greatly fueled this tendency, as these often require careful monitoring of the patient's breathing while under anesthesia. Further encouragement of the use of capnography devices in ambulatory care settings comes from the fact that such devices, which provide real-time monitoring of CO2, play an important role in ensuring patient safety.
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In 2023, the North American capnography devices market dominated the market. The primary driver in the regional market is the rising number of respiratory conditions caused by unhealthy lifestyles and higher stress levels. Further demand for products will also be led by new reimbursement models in the area for respiratory and monitoring solutions, along with strict regulations geared toward clinical effectiveness, patient safety, and medical efficacy. According to a 2020 American Psychological Association poll, 49% of American people said that their conduct was negatively influenced by increasing stress, and 21% reported that their physiological tension worsened as a result.
In Europe, the capnography devices market was proven to be quite profitable in 2023. The use of capnography devices is anticipated to increase as they are necessary for ensuring proper positioning of endotracheal tubes and differentiation of successful and unsuccessful intubations. The need for effective drug delivery is also being driven by the increasing prevalence of chronic diseases such as diabetes and cancer, which is fueling the growth of the market. Smoking is reported to be the leading and most significant risk factor for chronic obstructive pulmonary disease (COPD), which is the fifth most common cause of death in Europe by the World Health Organization.
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Capnography devices Market Drivers
Increased Prevalence of Respiratory Disease
Advancements in Capnography Technology
Capnography devices Market Restraints
High Cost of Capnography Devices
Regulatory and Compliance Issues
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Medtronic, Philips Healthcare, and Respironics are dominating the competitive capnography devices industry. Through the production of advanced capnography solutions having more accuracy, mobility, and integration with other monitoring systems, innovation is the main concern of these businesses. Other smaller businesses, and new players, are adding to competition by developing portable and relatively affordable devices. In this industry, firms often enter strategic alliances, mergers, and acquisitions to expand their share of the market and enhance their product offerings.
Capnography devices Market Top Player’s Company Profiles
Capnography devices Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the capnography devices market is expected to develop significantly because of growing prevalence of respiratory conditions, technological improvements, and the growing need for effective monitoring of patients. The accessibility and usefulness of capnography are being improved by advancements in portable and hand-held devices with integration with other monitoring systems. Despite this, challenges such as expensive equipment costs and legal limitations are expected to negatively impact growth in regions with a shortage of resources. Despite this limitation, the growing use of capnography in anesthetic monitoring, critical care, and ambulatory care leaves much potential for the market, which are expected to continue growing as healthcare infrastructure improves globally, especially in developing regions. This presents both existing and rising firms with significant opportunities.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 688.45 Million |
Market size value in 2031 | USD 1465.06 Million |
Growth Rate | 9.9% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Million |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Capnography Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Capnography Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Capnography Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Capnography Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
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Report ID: SQMIG35A2381
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