Market Study Report adds new research on Capnography Devices market, which is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, Capnography Devices market also includes an in-depth study of the industry’s competitive scenario.
The ongoing COVID-19 outbreak has led to a surge in the number of patients requiring surgical interventions and emergency medical care due to severe respiratory complications caused by the infection. Capnography has played a vital role in treating COVID patients. Capnography devices are an indispensable tool in the treatment of emergency medical services (EMS) patients to monitor ventilation and assess changes in perfusion and metabolism, which has played a vital role in product adoption during the pandemic.
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The capnography devices market is expected to gain significant traction by 2027 owing to growing prevalence of respiratory ailments across the globe.
Notably, key industry players are engaging in lucrative business strategies to monetize emerging market trends, which has enhanced overall market dynamics. For instance, in January 2020, Masimo Corporation, a leading medical technology company, announced the acquisition of NantHealth, Inc., a healthcare company specializing in evidence-based healthcare diagnostics. The acquisition strengthened Masimo’s non-invasive monitoring capabilities through integration of innovative technologies.
In terms of component, the market has been segregated into original equipment manufacturer (OEM) modules and others. The original equipment manufacturer (OEM) module sub-segment held the largest share with a valuation of around USD 234 million in 2020 and is predicted to amass profitable gains by 2027. High preference for OEM modules as they offer several advantages, such as precise monitoring of end-tidal carbon dioxide (EtCo2) concentrating, is estimated to drive segmental expansion through the study timeframe.
The capnography devices market has been segmented based on technology, product, component, end-use, application, and region. By product, the market has further been bifurcated into stand-alone, multi-parameter, and hand-held.
The hand-held sub-segment attained a valuation of more than USD 267 million in 2020 and is speculated to expand at a CAGR of nearly 7.1% over the review period primarily driven by mounting preference for hand-held capnography devices among surgeons as it allows precise movement of the equipment. Moreover, the design of these devices is suited to each individual patient’s condition, which is likely to boost segmental growth through 2027.
With respect to technology, the capnography devices market has been categorized into main stream, side stream, and micro stream. In 2020, the side stream sub-segment was valued at over USD 253 million and is projected to showcase steady growth, progressing at above 7.1% CAGR through the forecast period. Side stream technology enables devices to perform capnography through a non-invasive and diverting method, which is set to fuel market demand in the coming years.
From the application perspective, the capnography devices market has been divided into critical care, procedural sedation, emergency medicine, pain management, and others. In 2020, the emergency medicine sub-segment surpassed a valuation of USD 136 million and is foreseen to grow at a CAGR of approximately 7.7% over the study timeline. Capnography allows close evaluation of ventilation at the bedside based on waveform and value as well as gives real-time ventilation information, which is likely to impel segmental uptake in the upcoming years.
Based on end-use, the market has been categorized into ambulatory surgical centers, hospitals, and others. The ambulatory surgical centers sub-segment is anticipated to see optimistic growth to reach a valuation of about USD 286 million by 2027. Rising availability of cost-effective surgical procedures, shorter stay, and access to latest medical technologies at these centers is slated to promote segmental development over the following years.
Some of the major companies operating in the market are KGaA, Masimo Corporation, Medtronic, Nihon Kohden, Smiths Medical and Phillips Healthcare among others.
From the regional point of view, the Latin America capnography devices market valuation exceeded USD 19 million in 2020 and is anticipated to witness robust growth over the assessment period. Increasing incidences of respiratory diseases requiring surgical intervention in LATAM are expected to bolster regional market growth in the future.
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