Global Capnography Devices Market is projected to experience significant growth from 2018 to 2024. Use of capnography devices in the chronic surgeries will drive the market growth. Increasing number of surgical procedures across the globe will have booming impact on the demand and adoption rate of capnography devices. The use of capnograph for the patients under mild sedation after surgery in order to monitor the vitals will propel the sales of devices in future.
Rise in number of respiratory or pulmonary diseases in the geriatric population will expand the capnography devices industry growth in the future. According to the recent survey, increasing evidence suggests that the use of devices was more frequently done in case of respiratory diseases. Also, declining preference of pulse oximetry devices will mark the growth of capnography devices market growth in the forthcoming years.
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Lack of skilled professionals and labors will be one of the major impeding factor. Capnograph is a complicated device that needs a trained and skilled professional that has complete knowledge of the device and knows how to operate it. Shortage of healthcare professionals will affect the growth of capnography devices market in future.
Capnometer devices are estimated to hold majority of market share over the forecast timeframe. Continuous analysis and recording of carbon dioxide concentrations in the respiratory gases with the help of capnometer devices will boost the segment growth.
Side-stream capnography technology will show considerable amount of growth in the future. The numerous advantages offered by this technology such as easy to connect, used in awake patients, easy to use in the patients that are in prone position and can be used simultaneously along with oxygen administration via a nasal prong, will favor the segment growth.
The use of capnography devices in cardio-respiratory patients is expected to grow at robust rate in the foreseeable future. Increase in number of people suffering from cardio-respiratory disorders and high patient admissions will increase the demand and adoption rate of capnography devices, fueling the business growth.
The growing patient admissions in the hospitals will lead to growing demand for capnography devices over the forecast timeframe. Increasing use of the devices in postoperative patient monitoring to manage the flow of gases in the hospitals will boost the industry growth.
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U.S. capnography devices market is estimated to hold majority of market share owing to large patient population, high prevalence of cardio-respiratory diseases, presence of device manufactures in the country. According to CDC, around 9 million people suffered from respiratory diseases such as bronchitis in the year 2016. Increasing patients suffering from cardio-respiratory diseases will result increasing use of capnography devices, fueling the regional industry growth.
Some of the key industry players Burtons Medical Equipment, Criticare Technologies, Drägerwerk AG & Co. KGaA, Edan Instruments, Infinium Medical, Koninklijke Philips N.V. , Masimo Corporation, Medtronic, NIHON KOHDEN, Nonin Medical, Schiller, Smiths Group and Welch Allyn. These companies mainly focus on strategic decisions to increase the research and development investment. Merger and acquisitions have increased the capabilities of the companies and increased their efficiency to sustain in the market by providing better solutions. Also, new product launches in developed geographical regions will enhance the growth of the companies.