Capnography Device Market Size, Share, Growth and Industry Analysis Report, 2019 to 2026
by Susan Hill Business ConsultantThe
global capnography device market size is expected to reach
USD 1.58 billion by 2026, according to a new report by Grand View Research,
Inc. It is projected to expand at a CAGR of 17.8% during the forecast period.
Introduction of regulatory guidelines for procedural sedation and growing
adoption of capnography in patient monitoring due to higher reliability and
efficiency are anticipated to propel the growth. In addition, advantages
associated with these devices, such as ease of usage, minimally invasiveness,
and medical efficiency, are the key growth drivers. Moreover, rising incidence
of respiratory diseases necessitating continuous patient monitoring is expected
to fuel the demand for capnography in the forthcoming years.
Furthermore,
increasing focus of market leaders in R&D for the development of new
generation capnography tools is expected to create lucrative growth
opportunities for the capnography device market. For instance, Oridion’s Micro
stream technology which minimizes dispersion of gases in the sampling tube created
a revolution in capnography market.
The market
is highly competitive in nature and a limited number of players have a high
level of dominance in terms of revenue share. The most notable market
participants are Medtronic; Smiths Medical; Masimo Corporation; and Nonin
Medical Inc. and account for a considerable market share owing to their product
offerings.
Top players
are involved in the establishment of extensive distribution systems as well as
mergers & acquisitions to capture a larger market share. For instance, in
March 2015, Nonin Medical, in collaboration with Welch Allyn, developed
Wireless Vital Solutions, a patient monitor that helps improve the management
of electronic
health records and accuracy of the captured vital signs by capnographs and
pulse oximeters.
Further key
findings from the study suggest:
- Hand-held
capnography led the product segment in 2018, owing to benefits associated
with the product such as portability, light weighted, ease of use, and
treatment efficiency
- Microstream
capnography is expected to expand at the fastest CAGR, attributed to the
fact that this technology is more effective and easier to incorporate as
compared to side stream and main stream capnography
- Capnography
device find the largest application in sedation and emergency medicine,
owing to its usage for optimization of pre hospital ventilation,
correction of pediatric emergencies, and as a prognostic indicator to
maintain pulmonary blood flow
- Asia Pacific is
anticipated to register rapid growth in the forthcoming years, owing to
the presence of high unmet needs coupled with increasing patient awareness
and improving healthcare infrastructure
- Hospitals led
the end use segment of capnography device market owing to shifting of
preference of hospitals from conventional patient monitoring devices to
capnography
- Key players
operating in this market include Smiths Medical, Dragerwerk AG & Co.
KGaA, Welch Allyn, Masimo, Koninklijke Philips N.V., Medtronic
- Stringent norms
for product approval and post-approval performance monitoring, regulated
by authorities such as the U.S. FDA and American Academy of implant may
act as a threat for new participants
Access full
research report on global capnography device market:
https://www.grandviewresearch.com/industry-analysis/capnography-device-market
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Created on Aug 26th 2019 06:07. Viewed 310 times.