Capnography Device Market: Current Analysis and Forecast (2021-2027)

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Global Capnography Devices Market is anticipated to grow with an elevated CAGR of around 9% over the forecast period (2021-2027). Capnography devices are advanced etCO₂ monitors that simplify patient monitoring by allowing clinicians to measure terminal exhaled CO₂ and multiple vital signs on the same device. Mainly capnography is used to measure CO₂ concentrations in respiratory gas for the study of various respiratory diseases and precisely measure the level of CO₂ discharged into the bloodstream. The Capnography device shows the result in a graphical manner on the monitor.

The growing adoption of capnography devices can be attributed to the rising prevalence of various respiratory diseases, central airway obstruction, chronic obstructive pulmonary disease, asthma, etc. coupled with a rapidly growing geriatric population. According to the ODPHP, Currently more than 25 million people, in the United States have asthma. Approximately 14.8 million adults have been diagnosed with chronic obstructive pulmonary disease (COPD), and approximately 12 million people have not yet been diagnosed. COPD is the 4th leading cause of death in the United States. This increase in respiratory disease in the population is creating the demand for capnography devices. Thereby, boosting the capnography device market globally.

Furthermore, the capnography device market is anticipated to grow on account of the growing technological advancement, a large number of ongoing research activities in this field, and various advantages such as fast and accurate reading, associated with the capnography devices. Some other benefits include favorable reimbursement policies, higher reliability and efficiency, and satisfactory clinical outcomes. However, some of the restraints in the market include stringent regulatory frameworks for the equipment and high costs of devices that are impeding the growth of this market all over the world.

Masimo, Smiths Medical, Dragerwerk AG & Co. KGaA, Welch Allyn (Hill-Rom Holdings, Inc.), Koninklijke Philips N.V., Medtronic, Nonin Medical, Inc., Nihon Kohden Corp., Becton, Dickinson and Company, and Diamedica Ltd., are some of the prominent players operating in the capnography devices market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with capnography devices.

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Insights Presented in the Report

“Amongst Product Type, hand-held segment holds the major share”

Based on product type, the capnography devices market is segmented into hand-held, stand-alone, and multi-parameter. The hand-held segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe due to an increase in the adoption of handheld capnography devices due to the associated benefits such as high portability, increased oxygen saturation levels required during surgery, high durability, and low associated costs. In addition, the newly developed handheld device features visual and acoustic alarms and sidestream technology.

“Amongst Technology, side-stream segment holds the major share”

Based on technology, the capnography devices market is divided into sidestream, mainstream, and micro stream. The sidestream segment occupied the major share of the capnography devices market in 2020 and it is expected to grow with a substantial CAGR in the upcoming years. The growth of this segment is attributed to the considerable demand for anesthesia monitoring by using this technology. Further, sidestream technology-enabled devices have many advantages such as ease of connection and reduced sterility issues. These devices also help monitor non-incubated substances with the help of nasal adapters.

“Amongst Application, emergency medicine segment holds the major share”

Based on application, the capnography devices market is divided into emergency medicine, critical care, procedural sedation, and pain management. The emergency medicine segment occupied the major share of the capnography devices market in 2020 and it is expected to grow with a substantial CAGR in the upcoming years. Capnography devices are widely used in emergency medical centers to optimize pre-hospital ventilation and manage pediatric emergencies,  and as a prognostic indicator for pulmonary blood flow. Further, the wide array of applications of these devices and evolving guidelines and recommendations to include capnography in emergency medicine are also positively impacting the growth of the segment.

“Amongst End-Users, hospitals segment holds the major share”

Based on end-users, the market is fragmented into hospitals, ambulatory surgical centers, and others. In 2020, hospitals segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period owing to the increasing usage of these devices as a preventive measure to tackle critical events in ICUs.

“North America represents one of the largest markets of capnography devices market”

For a better understanding of the market dynamics of the capnography devices market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for the capnography devices market industry and generated revenue of USD XX Million in 2020 owing to strong healthcare infrastructure and growing adoption of capnography devices in the region.

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Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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Research Methodology

Research Methodology for the Global Capnography Device Market Analysis (2021-2027)

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global capnography devices market were the three major steps undertaken to create and analyze the adoption of capnography devices in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global capnography devices market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the capnography devices through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the capnography devices market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product type, technology, applications, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of capnography devices across the globe.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the artificial blood vessels. Further, we conducted factor analysis using dependent and independent variables such as growing advancements in technology and the increasing prevalence of respiratory diseases. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the capnography devices sector across the globe.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the capnography devices market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of capnography devices across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the capnography devices market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

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Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the capnography devices market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product type, technology, application, and end-users of the capnography devices market.

The main objective of the Capnography Devices Market Study

The current & future market trends of capnography devices were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of capnography devices in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of product type, technology, application, and end-users
• Define and analysis of the regulatory framework for the capnography devices industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the capnography devices market for the major region
• Major regions studied in the report include North America, Europe, Asia-Pacific and Rest of the world
• Company profiles of the capnography devices market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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