Capnography Devices Market Research Report: By Product (Hand-Held, Stand-Alone, Multi-Parameter), Technology (Side Stream, Main Stream, Micro Stream), Component (Original Equipment Manufacturer Modules), Application (Emergency Medicine, Critical Care, Procedural Sedation, Pain Management), End User (Hospitals, Ambulatory Care Centers) - Global Industry Analysis and Growth Forecast to 2030

Capnography Devices Market Overview

The global capnography devices market generated the revenue of $379.9 million in 2019, and is set to progress at a CAGR of 6.0% during the forecast period (2020–2030). This is owing to high prevalence of respiratory diseases, technological advancements in capnography devices, and several government initiatives in this domain.

Due to COVID-19, the capnography devices market witnessed positive impact across the globe. This has created opportunity for key players in the market to gain competitive advantage and increase their market share. Moreover, the market is expected to grow on the account of rising coronavirus patients in developing nations of world.

Handheld Devices Expected to Be Largest Category in Capnography Devices Industry

The capnography devices market in terms of product is categorized into handheld, stand-alone, and multi-parameter devices. Among these, it is expected that handheld would be the largest category in terms of revenue in the coming years. This can be primarily due to advantages like point-of-care feature for patient’s comfort and ease of use, provided by these devices.

Micro stream Category to Witness Fastest Growth during Forecast Period

The capnography devices market on the basis of technology is categorized into side stream, main stream, and micro stream. It is expected that the market for micro stream technology-based capnographs would witness the fastest growth during the forecast period. This can be mainly due to the fact that the micro stream method requires no calibration before use and has an extremely short warm-up time, facilitating its use in emergency situations.

Original Equipment Manufacturer (OEM) Modules Category Is Expected to Dominate the Market throughout the Forecast period

OEM modules are expected to hold larger share in the global capnography devices market in the coming years, mainly on account of their ability of making end-tidal CO2 (EtCO2) or CO2 monitoring simple and accurate, even in the smallest and most portable monitors. Moreover, key players are focusing on providing innovative products. For example, EMMA Capnometer by Masimo Corporation is a portable mainstream measurement device used for short-term monitoring of EtCO2 in adults, neonates, and pediatric patients.

Increasing Safety Concerns in Emergency Department Is Expected to Result in Fastest Growth of Emergency Medicine Category

Capnography devices are most commonly used in emergency medicine, followed by critical care, procedural sedation, pain management, and other applications. The emergency medicine category is expected to witness fastest growth in the capnography devices market during 2020–2030. Capnography use has been considered to increase the safety of sedating patients in the emergency department, leading to the increasing use of these devices.

Hospitals Category to Be Fastest-Growing Category due to Rise in Healthcare Expenditures Globally

The hospitals category is expected to grow fastest in the global capnography devices market during the forecast period. This can be primarily due to the increasing demand for capnography devices in emergency and critical care departments of the hospitals. Moreover, increasing number of hospitals and rising number of chronic diseases are playing significant role in the growth of this category.

North America Largest Region in Industry

North America accounted for the largest share in the capnography devices market in 2019. The market growth in the region is mainly driven by the rising prevalence of respiratory medical conditions and presence of prominent market players offering capnography devices. According to the Centers for Disease Control and Prevention (CDC), chronic obstructive pulmonary disease (COPD) was the third leading cause of deaths in the U.S. in 2018–2019. The organization also stated that in 2018, more than 9.0 million Americans with chronic bronchitis and 3.8 million with emphysema were diagnosed. Both chronic bronchitis and emphysema are types of COPD.

APAC Fastest-Growing Region in the Global Market

During the forecast period, APAC is expected to witness fastest growth in the capnography devices industry on the account of increasing awareness, rising number of government initiatives, and surging prevalence of chronic diseases in the region. Moreover, increase in geriatric population that is prone to various chronic diseases contributes to higher adoption of capnography devices. According to the UN report World Population Ageing 2019, 395.3 million people were aged 60 years or above in Asia in 2019, and this number is expected to reach 954.6 million by 2050.

Increasing Number of Acquisitions Is a Key Trend in the Market

Collaborations and acquisitions among the players in the capnography devices market are resulting in improved patient accessibility to new technologies, enhanced patient outcomes, and increased market reach and share of players. For instance, in May 2019, Salter Labs announced the acquisition of CapnoVue products from Monitor Mask Inc., which would help it in broadening its range of high-performing capnography products. With such acquisitions and partnerships, it is expected that players would launch more advanced products in the market that will witness increased demand in the coming years.

Technological Advancements Related to Capnography Devices Boosting Market Growth

Technological advancements, such as the incorporation of photo detectors and molecular correlation spectroscopy in microstream capnographs and the incorporation of miniaturized mainstream multi-gas monitors, are expected to drive the demand for capnography devices during 2020–2030. Advanced capnography devices demonstrate high accuracy and safety levels and also have adjustable flow rate, which prevents moisture contamination and facilitates retrieval of large sample volume in comparison to the conventional methods. In addition, associated 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 capnography devices industry growth over the forecast period.

Rising Government Initiatives to Expediate Entry of Key Players in Developing Economies during the Forecast Period

Applications of capnography include emergency medicine, critical care, procedural sedation, pain management, and others. American Heart Association (AHA), American Society of Anesthesiologists (ASA), Anesthesia Patient Safety Foundation (APSF), National Center Patient Safety (NCPS), and many other organizations are increasingly being involved in issuing guidelines to promote the use of capnography devices globally. Moreover, use of capnography has been made mandatory by the American Society of Gastrointestinal Endoscopy (ASGE) for endoscopic retrograde cholangiopancreatography (ERCP) or endoscopic ultrasound procedures. Owing to these factors, the capnography devices market is expected to grow in the near future.

Market Players Launching New Products and Services to Gain Competitive Edge

The global capnography devices market is fragmented in nature, with the presence of key players, such as Diamedica UK Ltd., Shenzhen Comen Medical Instruments Co. Ltd., Edan Instruments Inc., Nonin Medical Inc., Drägerwerk AG & Co. KGaA, Nihon Kohden Corporation, Masimo Corporation, Becton, Dickinson and Company, Medtronic plc, Smiths Medical, Koninklijke Philips N.V., and Shenzhen Mindray Bio-Medical Electronics Co. Ltd.

In recent years, major players in the capnography devices industry have taken several strategic measures, such as product launches and partnerships, to gain a competitive edge in the market.

• In December 2019, Drägerwerk AG and Masimo Corporation announced that they have expanded their partnership, whereby Drägerwerk AG will integrate additional Masimo Corporations measurement technologies into Drägerwerk AG’s family of multi-parameter patient monitors, to help clinicians assess brain function, oxygenation, and ventilation status.
• In March 2019, Masimo Corporation announced the FDA clearance of the Rad-67 Pulse CO-Oximeter with spot-check next-generation SpHb monitoring technology and the rainbow DCI-mini reusable sensor. Rad-67 offers rainbow noninvasive hemoglobin measurement (SpHb) and measure through motion and low Perfusion SET pulse oximetry in a compact, portable spot-check monitoring device. When used with the rainbow DCI-mini sensor, Rad-67 provides spot-check monitoring with next-generation SpHb.
• In February 2018, Medtronic plc and Lehigh Valley Health Network, a network of eight hospitals that has been serving in seven counties in Northeastern Pennsylvania, announced a five-year strategic partnership aimed at developing sustainable and innovative, integrated value-based solutions to improve the healthcare outcomes of the patients served by Lehigh Valley Health Network.

The Key Players in Capnography Devices Market include:

Capnography Devices Market Size Breakdown by Segment

The capnography devices market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.

Based on Product

• Hand-Held
• Stand-Alone
• Multi-Parameter

Based on Technology

• Side stream
• Main stream
• Micro stream

Based on Component

• Original Equipment Manufacturer (OEM) Modules
  • Infrared sensors

Based on Application

• Emergency Medicine
• Critical Care
• Procedural Sedation
• Pain Management

Based on End User

• Hospitals
• Ambulatory Care Centers (ACCs)

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • Australia
• Latin America (LATAM)
  • Brazil
  • Mexico
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • U.A.E