Capnography Devices Market to Surpass $736.6 Million Revenue by 2030 Says P&S Intelligence
NEW YORK, Aug. 25, 2021 /PRNewswire/ -- The global market for capnography devices is set to increase to $736.6 million by 2030 from $422.1 million in 2020, at a 5.7% CAGR between 2020 and 2030, according to the market research report published by P&S Intelligence.
The following are the major driving factors for the industry:
- Increasing Prevalence of Respiratory Diseases: Chronic obstructive pulmonary disease (COPD) led to 3.2 million deaths in 2019, while asthma led to 0.5 million deaths, as per the World Health Organization (WHO). This is driving the need for capnography devices to monitor the lung function of patients in acute- and long-term-care facilities.
- Technological Advancements: The capnography devices market is also being driven by technological advancements, which have made these systems more accurate and safer. Some of the latest innovations are photo detectors, miniaturized main-stream multi-gas monitors, and laser-based molecular correlation spectroscopy (MCS).
The COVID-19 pandemic has boosted the capnography devices market growth as COVID-19 is a respiratory disease. Capnography's ability to measure the concentration of carbon dioxide (CO2) in exhaled air is being leveraged in acute- and long-term-care settings to track the status of infected patients and ascertain the likelihood of unfavorable events. Thus, despite the closure of most non-essential hospital departments, the demand for capnography devices has increased during these times.
The hand-held category is set to dominate the capnography devices market in the coming years, based on product. These devices are small, easy to use, and portable. As a result, they are allowing doctors to conduct point-of-care respiratory monitoring of COVID patients.
In the years to come, the highest capnography devices market CAGR, of 7.7%, within the technology segment, will be seen in the micro-stream category. Capnography devices using this technology are quick to warm up, which allows for their usage in emergencies, and they also do not require calibration before usage.
The capnography devices market garnered the higher revenue from the original equipment manufacturer (OEM) modules bifurcation in the past, under the component segment. These components make measuring CO2 and end-tidal CO2 (EtCO2) more accurate and simpler even in portable and smaller monitors.
Browse detailed report on Global Capnography Devices Market Size and Growth Forecast to 2030
North America has been the largest capnography devices market till now because of the presence of numerous companies offering these products, increasing prevalence of respiratory diseases, and advanced healthcare infrastructure. Considering the total case and death counts, the U.S. is the worst affected by the ongoing pandemic, which has propelled the demand for capnography devices.
The key companies in the global capnography devices market are Diamedica (UK) Limited, Edan Instruments Inc., Shenzhen Comen Medical Instruments Co. Ltd., Nonin Medical Inc., Nihon Kohden Corporation, Drägerwerk AG & Co. KGaA, Masimo Corporation, Medtronic plc, Zoll Medical Corporation, Becton, Dickinson and Company, Smiths Group plc, Welch Allyn Inc., Koninklijke Philips N.V., and Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
Browse More Reports
Respiratory Care Device Market Report
Sleep Apnea Device Market Report
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
Contact:
Prajneesh Kumar
P&S Intelligence
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Logo: https://mma.prnewswire.com/media/1224988/P_and_S_Intelligence_Logo.jpg
Share this article