Capnography Equipment Market Projected to Grow at a CAGR of 4.4% Over The Forecast Period 2022-2032
Future Market Insights report observes that from USD 334 million in 2021 to USD 536.35 million in 2032, the capnography equipment market is predicted to grow at a CAGR of 4.4%.
Capnography is a medical equipment used for measuring the levels of carbon dioxide in a patient’s blood. Capnography is used in various medical procedures, such as surgery, anaesthesia and intensive care.
Capnography Equipment Market is expected to grow at a CAGR of 4.4% from 2022 to 2032.
Capnography Equipment Market report analyses the growth, which is currently being hindered by the lack of skilled personnel.
The Capnography Equipment market is quite competitive with the presence of many large and small players operating in it.
Some of the key players in the Capnography Equipment market are Smiths Medical, Welch Allyn, Philips Healthcare, Masimo Corporation and Nihon Kohden Corporation.
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The key obstacles the capnography equipment market faces are:
- Logistical concerns.
- Treating patients with the disease.
- Prioritising patients with comorbidities and pre-existing disorders.
- Safeguarding the public and hospital frontline staff from COVID-19 infection.
Several hospitals have used various isolation methods to stop the illness from spreading.
Capnometers, patient monitors with capnography and another capnography device have seen a significant surge in demand.
While the lack of medical items became a significant problem, it also resulted in increased demand for portable capnography monitors, resulting in an almost tenfold rise in the output of the capnography equipment market.
Medical procedure rates may vary per nation in the future, depending on regional COVID-19 infection.
The need for portable/point-of-care equipment, portable capnography devices and portable capnography monitors is predicted to rise as the number of target patients for essential applications like trauma and emergencies grows.
In response to this shifting capnography equipment market trend, prominent capnography equipment market players are increasingly focused on producing portable/point-of-care or handheld capnography equipment that may be utilised for applications requiring convenient device mobility and patient access.
Stringent (particularly in the United States) and confusing regulatory standards impede the expansion of the capnography equipment market.
The FDA approves simple capnography equipment, but sophisticated devices that must meet several FDA regulations are a barrier to the widespread availability of capnography equipment.
State legal requirements and manufacturing restrictions are additional impediments to the capnography equipment market.
The healthcare industry in emerging countries (such as India, China, Brazil, and Mexico) provides:
- Significant growth opportunities for players in the capnography equipment market are due to the increased target patient population.
- Increasing prevalence of lifestyle disorders.
- Growing public-private investments for product development and commercialization.
- Less stringent regulatory environment.
- Growing medical tourism.
Healthcare personnel in developing and developing nations have little knowledge of the clinical use of capnography devices during operations and postoperative surveillance.
Furthermore, due to a lack of clinical data to support capnography equipment’s safety and effectiveness profile for diverse applications, its acceptance among surgeons in industrialised nations remains muted.
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- India, Saudi Arabia, France, Turkey, and Italy are among the fastest-growing economies of capnography equipment as of 2021. These emerging economies are expected to account for one-third of the global healthcare expenditure by 2023.
- Capnometers form the single largest segment, but capnography accessories & disposables hold the larger share of the capnography device market, i.e. 52.5%.
- The mainstream capnography segment accounted for 67.4% of the capnography equipment market. The cardiac surgeries segment held 40.5% of the capnography equipment applications market.
- Hospitals dominate the capnography equipment market, with a share of 82.3%. This segment is projected to reach USD 358.6 million by 2027 from USD 275.1 million in 2021, at a CAGR of 4.5% during the forecast period.
- North America accounted for the largest share in capnography instrument of 50.6% of the capnography equipment market, followed by Europe with 25.5%.
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Prominent players in the capnography equipment market include ZOLL Medical (Asahi Kasei) (Japan), Becton, Dickinson, and Company (US), Drägerwerk AG & Co. KGaA (Germany), Edan Instruments, Inc. (China), GE Healthcare (US), Hamilton Medical (Switzerland), Welch Allyn (a Hill-Rom company) (US), Koninklijke Philips N.V. (Netherlands), Masimo Corporation (US), Medtronic plc (Ireland), Mindray Medical (US), Nihon Kohden (Japan), Nonin Medical Inc.(US), Schiller (Switzerland) and Smiths Medical (UK).
- ZOLL Medical Corporation (ZOLL), an Asahi Kasei firm, acquired Itamar Medical Ltd. (Itamar Medical), an Israeli medical diagnostic equipment maker, in December 2021. Itamar Medical will operate as a subsidiary of ZOLL.
- Masimo and Philips struck a licencing deal in May 2020 that will deliver Masimo NomoLine Capnography and O3 Regional Oximetry to certain Philips pulse oximeters. Philips will include new Masimo measuring technology into certain IntelliVue MX-series multiparameter patient monitors with etco2 to assist doctors in determining cerebral pulse oximetry and ventilation status.
- Masimo and Dräger extended their Licensing Agreement in December 2019 to incorporate Masimo brain monitoring and capnography equipment. Masimo nomoline capnography equipment measures have been introduced to Dräger’s portfolio of advanced measuring parameters for ORs and critical care.
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