Capnography Equipment Market worth $436 million by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, March 1, 2022 /PRNewswire/ -- According to the new market research report "Capnography Equipment Market by Product (Multiparameter & Standalone Capnometer, Accessories), Technology (Mainstream, Sidestream, Microstream), Application (Cardiac Care, Trauma, Emergency Care), End User (Hospital) - Global Forecast to 2027", published by MarketsandMarkets™, the global Capnography Equipment Market is expected to reach USD 436 million by 2027 from an estimated USD 334 million in 2021, at a CAGR of 4.6% from 2022 to 2027.
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192 – Tables
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232 – Pages
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Market growth is mainly driven by the development of portable/POC capnography devices, clinical benefits of capnography equipment over pulse oximetry, and increasing number of surgeries. In addition, healthcare industry in emerging countries are expected to offer growth opportunities for players in the capnography equipment market. However, issues related to stringent (especially in the US) and ambiguous regulatory guidelines for the approval of capnography medical devices are expected to hinder the growth of the capnography equipment market during the forecast period.
The Capnometers segment accounted for the largest share of the capnography equipment market, by product type, in 2021
Based on product, the capnography equipment market is categorized into two major segments, namely, capnometers and capnography accessories & disposables. Capnometers are divided into multiparameter & standalone categories, which are further segmented into handheld and conventional capnometers. Capnometers form the single largest segment, but capnography accessories & disposables hold the larger share of the market—52.5% in 2021. The increasing adoption of capnography equipment, recommendations for its use in patient monitoring, medical reimbursements for capnography equipment across developed countries, and the growing number of surgical procedures are driving the growth of the capnography accessories market.
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The Mainstream Capnography segment accounted for the largest share of the capnography equipment market, by technology, in 2021
Based on technology, the capnography equipment market is segmented into mainstream, sidestream, and microstream. The mainstream capnography segment accounted for 67.4% of the capnography equipment market in 2021. The advantages associated with mainstream capnography, such as ease of use and the ability to monitor breathing in intubated patients accurately, are expected to drive the growth of this market segment during the study period.
The Cardiac Surgeries segment, by application, accounted for the largest share of the global capnography equipment market in 2021
Based on application, the capnography equipment market is segmented into cardiac surgeries, trauma & emergency care, respiratory monitoring, and other applications. In 2021, the cardiac surgeries segment held 40.5% of the capnography equipment applications market. The large share of this segment is attributed to the increasing regulatory guidelines recommending capnography for cardiac surgeries and the rising number of cardiopulmonary surgeries performed across the globe.
On the basis of End Users, Hospitals segment accounted for the largest share of the global capnography equipment market, in 2021
Based on end users, the capnography equipment market is segmented into hospitals, ambulatory surgery centers & home care, and other end users. Hospitals dominate the capnography equipment market, with a share of 82.3% in 2021. This segment is projected to reach USD 358.6 million by 2027 from USD 275.1 million in 2021, at a CAGR of 4.5% during the forecast period. Factors such as evolving guidelines related to the use of capnography and the rising incidence of chronic disorders are expected to drive the demand for capnography equipment in hospital settings in the coming years.
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The Asia Pacific market is expected to grow at the highest CAGR during the forecast period
The global capnography equipment market is segmented into North America (comprising the US and Canada), Europe (includes Germany, France, and the UK), the Asia Pacific (includes Japan, China, India), Latin America (Brazil, Mexico), and the Middle East & Africa. North America holds the largest share of the global capnography equipment market. Growth in this market is attributed to the significant adoption of capnography monitoring, the large patient population for target diseases, and the strong presence of device manufacturers in the region. On the other hand, the Asia Pacific market is estimated to register the highest growth rate during the forecast period.
The presence of a large patient population base for target diseases in this region, increasing adoption of patient monitoring devices, and growing trend of medical tourism across RoAPAC countries are further fueling the growth of the capnography equipment market in the Asia Pacific. However, unclear guidelines for the use of capnography equipment, the high cost of product installation, and a shortage of skilled healthcare professionals will restrain the growth of this market.
As of 2020, the capnography equipment market is dominated by Becton, Dickinson, and Company (US), Drägerwerk AG & Co. KGaA (Germany), GE Healthcare (General Electric Company), Koninklijke Philips N.V. (Netherlands), and Medtronic plc (Ireland). Other leading players are ZOLL Medical Corporation (Asahi Kasei) (Japan), Masimo Corporation (US), and Nihon Kohden (Japan).
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