The global capnography device market size is expected to reach USD 1.58 billion by 2026
NEW YORK, July 1, 2019 /PRNewswire/ -- Capnography Device Market Size, Share & Trends Analysis Report By Product (Handheld, Standalone), By Technology (Microstream, Sidestream), By Component, By Application, By End Use, And Segment Forecasts, 2019 - 2026
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The global capnography device market size is expected to reach USD 1.58 billion by 2026. It is projected to expand at a CAGR of 17.8% during the forecast period. Introduction of regulatory guidelines for procedural sedation and growing adoption of capnography in patient monitoring due to higher reliability and efficiency are anticipated to propel the growth. In addition, advantages associated with these devices, such as ease of usage, minimally invasiveness, and medical efficiency, are the key growth drivers. Moreover, rising incidence of respiratory diseases necessitating continuous patient monitoring is expected to fuel the demand for capnography in the forthcoming years.
Furthermore, increasing focus of market leaders in R&D for the development of new generation capnography tools is expected to create lucrative growth opportunities for the capnography device market. For instance, Oridion's Micro stream technology which minimizes dispersion of gases in the sampling tube created a revolution in capnography market.
The market is highly competitive in nature and a limited number of players have a high level of dominance in terms of revenue share. The most notable market participants are Medtronic; Smiths Medical; Masimo Corporation; and Nonin Medical Inc. and account for a considerable market share owing to their product offerings.
Top players are involved in the establishment of extensive distribution systems as well as mergers &acquisitions to capture a larger market share. For instance, in March 2015, Nonin Medical, in collaboration with Welch Allyn, developed Wireless Vital Solutions, a patient monitor that helps improve the management of electronic health records and accuracy of the captured vital signs by capnographs and pulse oximeters.
Further key findings from the study suggest:
• Hand-held capnography led the product segment in 2018, owing to benefits associated with the product such as portability, light weighted, ease of use, and treatment efficiency
• Microstream capnography is expected to expand at the fastest CAGR, attributed to the fact that this technology is more effective and easier to incorporate as compared to side stream and main stream capnography
• Capnography device find the largest application in sedation and emergency medicine, owing to its usage for optimization of pre hospital ventilation, correction of pediatric emergencies, and as a prognostic indicator to maintain pulmonary blood flow
• Asia Pacific is anticipated to register rapid growth in the forthcoming years, owing to the presence of high unmet needs coupled with increasing patient awareness and improving healthcare infrastructure
• Hospitals led the end use segment of capnography device market owing to shifting of preference of hospitals from conventional patient monitoring devices to capnography
• Key players operating in this market include Smiths Medical, Dragerwerk AG & Co. KGaA, Welch Allyn, Masimo, Koninklijke Philips N.V., Medtronic
• Stringent norms for product approval and post-approval performance monitoring, regulated by authorities such as the U.S. FDA and American Academy of implant may act as a threat for new participants
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