The capnography equipment market is expected to grow from US$ 447. 59 million in 2021 to US$ 716. 38 million by 2028; it is estimated to grow at a CAGR of 7. 1% from 2022 to 2028. The report highlights trends prevailing in the market and factors driving the market growth.
New York, Sept. 27, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Capnography Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type, Technology, Application, and End User" - https://www.reportlinker.com/p06321021/?utm_source=GNW
The market growth is attributed to the prevalence of respiratory disorders and the clinical benefits of capnography equipment over pulse oximetry.
Additionally, advancements in handheld capnography equipment are likely to emerge as a significant trend in the market during the forecast period. However, the stringent regulations for approval of capnography equipment hamper the growth of the market.
Pulse oximetry is a technique used to measure the oxygen level/saturation of the blood.The oxygen level is detected with the use of infrared and red light to determine the extent of oxygenation of hemoglobin.
On the other hand, in capnography, CO2 absorbs infrared radiation, and thus, the procedure involves the passage of infrared radiation over a gas sample collected from exhalation.In many cases, oxygen levels in the blood can remain normal for several minutes after a patient stops breathing.
Therefore, pulse oximetry can provide false positive results of the presence of oxygen in the blood.As capnography detects the CO2 present in the body, the detection is more accurate than pulse oximetry.
The equipment can read every phase of the respiratory cycle, thereby providing more in-depth readings than those offered by pulse oximetry monitors. The ability of capnography machines to provide robust data sets makes it easier for healthcare providers to diagnose the root causes of respiratory problems. The capnograph wavelength shows the entire breathing cycle, making it easier to track exact symptoms. Capnography is used to understand how a patient is responding to treatment as they can display the ongoing data in real time. They can also be used to determine when a patient should be ventilated, in case of a patient progressing to respiratory failure. Pulse oximetry cannot detect respiratory conditions as they do not provide any data in real time. This, the advantages of capnography equipment over pulse oximetry are fueling the growth of the capnography equipment market.
Chronic respiratory diseases are prevalent noncommunicable diseases worldwide due to the commonness of noxious environmental, occupational, and behavioral inhalation.This spectrum of diseases includes chronic obstructive pulmonary disease (COPD), asthma, interstitial lung disease, pulmonary sarcoidosis, and pneumoconiosis (such as silicosis and asbestosis).
According to The Lancet Respiratory Medicine, ~545 million people in the world were suffering from a chronic respiratory disease in 2017. According to the Office of Disease Prevention and Health Promotion, ~14.8 million adults in the US were diagnosed with COPD in 2020. The National Health Service states that ~1.17 million people in the UK were diagnosed with COPD in 2021, i.e., ~1.9% of the total population. According to The Lancet Global Health study, ~55.3 million people in India were suffering from COPD in 2016. The Global Asthma Report states that ~300 million people have asthma worldwide, and the estimates indicate this number will surge by 100 million people by 2025. According to the estimates by the Centers for Disease Control and Prevention (CDC), ~24.8 million people in the US were suffering from asthma in 2018. Moreover, in 2017, asthma resulted in an estimated 1.6 million emergency department (ED) visits and 183,000 hospitalizations in the country. The prevalence of respiratory disorders is driving the growth of capnography equipment market.
On the other hand, the stringent regulation for approval of capnography equipment hinders the overall capnography equipment market growth.In 2010, the International Consensus on Cardiopulmonary Resuscitation and Emergency Cardiovascular Care Science and the American Heart Association (AHA) restructured their guidelines for Adult and Pediatric Advanced Life Support to include recommendations for capnography used during serious events.
The new guidelines endorsed the routine use of quantitative waveform capnography for both intubation and during CPR.In the US, the process of proving the medical safety of a device takes ~3–7 years of a manufacturer.
Per the law in the country, even if there is a slight change in the size of a previously approved device, the modified product needs to go through the entire process of approval before commercialization.Nevertheless, the FDA approval process for simple capnography equipment is easier than that of complex capnography equipment.
The complex capnography equipment needs to comply with various FDA requirements which act as a hurdle for approval of capnography equipment on a large scale. The current FDA regulations consider capnography equipment in the category of traditionally manufactured medical products for their approval. Thus, variations and lack of standardization in regulations are hampering the growth of the capnography equipment market.
Based on product type, the capnography equipment market is segmented into capnometer and capnography accessories & disposables.Capnometers are bifurcated into multiparameter capnometers and standalone capnometers.
Multiparameter capnometers are further classified as conventional capnometers and handheld capnometers.On the other hand, standalone capnometers are categorized as bifurcated into conventional capnometers and handheld capnometers.
In 2021, the capnography accessories & disposables segment held a larger market share.However, the capnometer segment is expected to register a higher CAGR from 2022 to 2028.
Based on technology, the capnography equipment market is segmented into mainstream capnography, sidestream capnography, and microstream capnography. The mainstream capnography segment held the largest market share in 2021. However, the sidestream capnography segment is anticipated to register the highest CAGR during the forecast period. Based on application, the market is segmented into cardiac care, trauma and emergency care, procedural sedation, respiratory monitoring, and others. The cardiac care segment held the largest market share in 2021. However, the respiratory monitoring segment is anticipated to register the highest CAGR during the forecast period. Based on end user, the capnography equipment market is segmented into hospitals, ambulatory surgery centers, home care settings, and others. The hospitals segment held the largest market share in 2021. However, the home care settings segment is anticipated to register the highest CAGR during the forecast period.
Several organic and inorganic strategies are adopted by companies in the capnography equipment market.The organic strategies mainly include product launches and product approvals.
Further, inorganic growth strategies witnessed in the capnography equipment market are acquisitions, collaborations, and partnerships.These growth strategies allow the market players to expand their businesses and augment their geographic presence, thereby contributing to the overall market growth.
Further, acquisition and partnership strategies help the market players strengthen their customer base and expand their product portfolios. A few of the noteworthy developments by key players in the capnography equipment market are listed below.
• In June 2022, GE Healthcare obtained CE mark clearance for the integration of advanced INVOS regional oximetry and Microstream capnography technologies on the CARESCAPE precision monitoring platform
The Centers for Disease Control and Prevention (CDC), Infectious Disease Research Institute (IDRI), World Health Organization (WHO), International Diabetes Federation (IDF), and American Heart Association (AHA) are a few of the major primary and secondary sources referred to while preparing the report on the capnography equipment market.
Read the full report: https://www.reportlinker.com/p06321021/?utm_source=GNW
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