Technological Advancement in Development of Portable and User-friendly Capnography Devices is Fueling the Market Growth
The capnography market is expected to witness a CAGR of 19.2% to reach $1.06 billion by 2024
Bangalore, India, July 4, 2018: With its recently published study “Capnography Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2022”, Infoholic Research forecasts the increase in the respiratory diseases is necessitating the development of respiratory monitoring device. The limitations of the usage of pulse oximetry to obtain the accurate status of the respiratory condition of the individual is also fueling the market. The provision of showing the current ventilation status of the device helps in providing real time analysis of the condition, thus helps in providing better care to the patients. However, the presence of alternative respiratory monitoring devices such as gas analyzers and pulse oximetry are posing a threat to the market.
The traditional capnography devices have restrictions with portability and ease to use. The development of smaller capnography devices has addressed these issues and increased the demand for the technology. The recently launched microstream capnographs have numerous benefits when compared to the traditional devices.
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The Capnography market is analyzed based on three segments – Product, End Users and Regions. The regions covered in the report are the North America, Europe, Asia Pacific, and Rest of the World (ROW). In the North American region, the US is set to be the leading countries. The Europe is set to be the second leading region and holds more than 20.0% of the market share in 2017. In Asia Pacific, India, Japan and China is one of the most attractive countries for the players and holds huge business opportunities. The ROW is set to be an emerging market in the next 5–6 years.
The capnography market is currently having two major segments devices and the disposables. The disposables market is fastest growing as each disposable lasts for an average of only two days. However, reusable disposable is being used in many hospitals and other clinics, but the risk of infection remains high. According to the “Centers for Disease Control and Prevention (CDC)” Annually, around 1.7 million people are getting infected by using these reusable consumables in US, out of which approximately 99,000 those lose their lives.
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Hospitals, ambulatory surgical centers and others are the major end-users in the market. The hospitals dominate the market in 2017 due to the good reimbursement facilities and availability of skilled professionals.
“Masimo Corporation, Philips Healthcare, Medtronic, Inc, Smith Medicals and Hill Rom, Inc (Welch Allyn) are the players dominating the market. These players are integrating strategies to increase their market share by product launches, expansion in the their geographical presence, merger & acquisitions and collaborative agreements. In June 2017, Medtronic started an international study to assess the risk of on opioid induced respiratory depression (OIRD), a preventable form of respiratory condition. The company claims that this is the first study to evaluate the clinical and economic aids resulting from the use of pulse oximetry and capnography. This helps the respiratory specialists in understanding the real incidents of respiratory compromise and other unmet needs,” said Rikitha K Murthy, Research Analyst, Infoholic Research.
Key insights of the report include:
- Main-stream Capnographs.
- Side-stream Capnographs
- Micro-stream Capnographs
- Capnography Disposables
- Ambulatory Care Center
- Industry outlook: Market trends, drivers, restraints, and opportunities