Capnography Devices Market Overview
Besides, technological developments, such as the incorporation of miniaturized mainstream multi-gas monitors and integration of molecular correlation spectroscopy and photodetectors in microstream capnography, are expected to advance the capnography devices market at a CAGR of 6.0% during the forecast period (2020–2030). Such improved devices display high safety levels and accuracy, have an adjustable flow rate, and prevent moisture contamination. Moreover, these novel products offer a rapid response and better optimization of postoperative outcomes. This factor will increase the market value from $379.9 million in 2019 to $713.3 million by 2030.
The application of capnography in healthcare settings is rising due to the escalating support from the government. Organizations such as the American Society of Anesthesiologists (ASA), National Center for Patient Safety (NCPS), American Heart Association (AHA), and Anesthesia Patient Safety Foundation (APSF) are issuing numerous guidelines to promote the use of capnography devices globally. Further, the use of these devices has been made mandatory by the American Society of Gastrointestinal Endoscopy (ASGE) for endoscopic ultrasound procedures or endoscopic retrograde cholangiopancreatography (ERCP).
Capnography Devices Market Regional Analysis
Healthcare facilities such as hospitals and ambulatory care centers (ACCs) mostly use handheld capnography devices, as they offer benefits including easy usage and the point-of-care feature for patients’ comfort. Hospitals are the largest consumer of capnography equipment because they have a large patient base and offer a multitude of medical services, ranging from basic, primary care to advanced care. Apart from handheld devices, standalone and multi-parameter devices are widely utilized in operation theatres (OTs), labor rooms, and intensive care units (ICUs).
The aforementioned end-users use these devices for several applications, where they will continue to find significance in the foreseeable future. Thus, the application segment of the capnography devices market is categorized into pain management, critical care, procedural sedation, and emergency medicine. Among these, capnography devices are mostly used in the emergency department. Moreover, it is projected that this category will exhibit the fastest growth in the forecast period due to the rapid adoption of these devices to increase the safety while sedating patients in emergency rooms (ERs).
North America used the highest number of capnography devices in the past due to the presence of key medical equipment companies and increasing prevalence of respiratory disorders. As per the U.S. Centers for Disease Control and Prevention (CDC), in 2018–2019, chronic obstructive pulmonary disease (COPD) was the third-leading cause of death in the country. The CDC also stated that around 3.8 million Americans were diagnosed with emphysema and nearly 9.0 million were diagnosed with chronic bronchitis in 2018. Plus, the U.S. has been the worst-affected country by COVID-19, which has driven capnography volume, since the virus primarily hits the lungs.
Globally, the Asia-Pacific capnography devices market will witness the fastest growth during the forecast period. This can be attributed to the surging requirement for efficient respiratory monitoring systems on account of the escalating clinical urgency for treating respiratory diseases in emerging economies, such as China and India. The complexity of these ailments varies on a case-to-case basis, which is projected to broaden the adoption potential of capnography in the region. Additionally, the booming aging population, which is susceptible to several chronic ailments, will propel the adoption of capnography devices.
Thus, the rising awareness about capnography and the availability of technologically advanced products are expected to fuel their adoption in the coming years.
