Capnography Devices Market Size, Share & Trends Report

Capnography Devices Market Size, Share & Trends Analysis Report By Component, By Product, By Technology (Mainstream, Sidestream, Microstream), By Application, By End-use, By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Mar, 2021
  • Base Year for Estimate: 2020
  • Report ID: 978-1-68038-985-2
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 150

Report Overview

The global capnography devices market size was valued at USD 510.7 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 9.7% from 2021 to 2028. Growing technological advancements, prevalence of respiratory diseases, and supportive government initiatives are anticipated to boost the market growth. The growing adoption of capnography in patient monitoring, due to higher reliability and efficiency, in the treatment of respiratory diseases is expected to improve the medical efficiency of these devices in patient monitoring. According to the Office of Disease Prevention and Health Promotion, as of 2020, more than 25 million people in the U.S. are suffering from asthma.

North America capnography devices market size, by component, 2016 - 2028 (USD Million)

During the COVID-19 pandemic, market players such as Medtronic experienced a surge in the demand for capnography devices, among other respiratory system-related products. This was mostly because capnography devices fall under the category of non-invasive remote monitoring devices and can be used to support patient monitoring during the treatment of COVID-19, as per the guidelines of the U.S. FDA. This positively impacted the growth of the market for capnography devices during the pandemic.

Strategic initiatives by the key players have also fueled the growth of the market for capnography devices during the forecast period. For instance, in September 2020, Capsule Technologies received FDA approval for its new connected capnography-monitoring technology. With this, the company enhanced its product portfolio. Likewise, in August 2019, Smiths Medical entered into a partnership with Medline Industries for the distribution of new products, which increased its market penetration.

COVID19 capnography devices market impact: over 9% growth from 2019 to 2020

Pandemic Impact

Post COVID Outlook

The Capnography Devices market witnessed a positive impact due to the COVID-19 and witnessed a growth of 9.08% from 2019 to 2020

The market is expected to continue its growth trajectory as it was before COVID-19, due to its sustained demand for other respiratory diseases requiring the monitoring of CO2 levels

Medtronic experienced a surge in the demand for capnography devices, among other respiratory products used to support the treatment and monitoring of COVID-19 patients

EtCO2 monitoring has found many applications in the field of emergency medicine. Market players are expected to invest in emergency medicine beyond 2020, to gain a competitive edge in the market.

New product development and emergency use approvals remained the highlight of 2020. For instance, in September 2020, Capsule Technologies received US FDA approval for its new connected capnography-monitoring technology among others.

 

 

Component Insights

The others segment dominated the market for capnography devices and accounted for the largest revenue share of more than 50.0% in 2020. The OEM modules segment is further bifurcated on the basis of sources, into infrared sources and others. Other sources include thermal sources, filter detectors, connectors, pumps, brushless motors, and connector reprogramming firmware.

Product Insights

The handheld product segment dominated the market for capnography devices and accounted for the largest revenue share of 60.6% in 2020 as a result of the increasing adoption rate due to the associated benefits of handheld capnographs. These majorly include high portability, facilitation of required oxygen saturation levels in operative procedures, high durability, and low associated costs.

Multiparameter products are expected to witness a lucrative CAGR of over 8.5% during the forecast period owing to their increasing applications in emergency medicines and procedural sedation. Furthermore, advancements in capnographs inclusive of miniaturization of sensors and incorporation of multi-sensors in a single device to enable simultaneous monitoring of multi-gasses have resulted in easy and faster sample collection and long-term deployment. The aforementioned factors are anticipated to propel the demand for multiparameter capnographs during the forecast period.

Technology Insights

The sidestream technology segment dominated the market for capnography devices and accounted for the largest revenue share of 53.2% in 2020 as a consequence of its wide usage in anesthesia monitoring. Sidestream technologically enabled devices offer benefits, such as ease-of-connection, fewer problems in sterilization, and help in monitoring of non-incubated substances with the help of nasal adapters. These factors are responsible for segment growth.

On the other hand, the microstream segment is expected to register lucrative growth owing to its rising penetration over the forecast period. Increasing penetration of these products can be attributed to technological advancements in this field, thus expanding opportunities for growth. In addition, microstream technology can be used in intubated as well as non-intubated patients and patients of all age groups.

End-use Insights

The hospital segment dominated the market for capnography devices and held the largest revenue share of 58.5% in 2020. It is used as a preventive measure to tackle critical events in ICUs. The adoption of capnography procedures is increased in hospitals owing to their enhanced capabilities for calculating patient ventilators measurement, minimally invasive nature, and ease-of-usage. The industry is expected to register upward growth due to the rising incidences of cardiac arrest and thereby creating the need for effective patient monitoring during the forecast period.

Moreover, organizations such as the American Society of Anesthesiologists and the Uruguayan Society of Anesthesiologists recommended capnography monitoring during anesthetics and procedural sedation. These guidelines support the importance of capnography devices for hospital use. In addition, the high influence of the U.S. healthcare system on the global health care industry has further augmented segment growth.

Application Insights

The emergency medicine segment dominated the market for capnography devices and accounted for the largest revenue share of 23.8% in 2020. Capnography is used in a pre-hospital emergency setting to ensure that endotracheal tubes are placed correctly. In addition, the device can provide the information required to monitor and adjust ventilation parameters much more sensitively and quickly. Other applications of capnography include emergency medicine, pain management, critical care, and others.

Global capnography devices market share, by application, 2020 (%)

This device also has wide applications in the treatment of procedural sedation in dentistry and is thereby expected to witness a lucrative CAGR of 10.9% over the forecast period. It offers non-invasive, real-time, and continuous measurement by producing capnograms, which help in assessing the present status of a patient's circulatory and metabolic systems. These associated benefits are expected to increase the adoption of these devices, thereby providing growth to the market for capnography devices in the near future.

Regional Insights

In 2020, North America dominated the market for capnography devices and held the largest revenue share of 43.3%. The rising prevalence of respiratory diseases as a consequence of unhealthy lifestyles and high-stress levels are the high impact rendering drivers for this industry. Furthermore, the incorporation of new reimbursement models for respiratory and monitoring solution procedures in this region and the stringent regulatory guidelines that are aimed towards medical efficacy, patients’ safety, and clinical efficiency are expected to drive the demand in the coming years.

In Asia Pacific, the capnography devices market is anticipated to witness significant growth over the forecast period owing to the expeditiously improving healthcare systems, rising healthcare expenditure, and increasing awareness levels pertaining to the adoption of capnography technology.

Key Companies & Market Share Insights

Vendors are investing in product launches, geographical expansions, collaborative agreements, and acquisitions, to sustain in the market. The market for capnography devices is expected to become highly competitive as many startups are seeking opportunities in this sector. For instance, in May 2020, Koninklijke Philips entered into a licensing agreement, through which Philips integrated additional Masimo measurement technologies, such as NomoLine Capnography and O3 Regional Oximetry into select IntelliVue MX-series multi-parameter monitors. Also, in March 2020, Masimo acquired TNI Medical AG, a Germany-based company. Through this, it enhanced its presence in the European Union. Some of the prominent players in the global capnography devices market include:

  • Masimo

  • Smiths Medical, Inc.

  • Dragerwerk AG & Co. KGaA

  • Welch Allyn (Hill-Rom Holdings, Inc.)

  • Koninklijke Philips N.V.

  • Medtronic

  • Nonin Medical, Inc.

  • Nihon Kohden Corporation

  • BD

  • Diamedica (UK) Limited

  • Edan Instruments, Inc.

Capnography Devices Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 557.7 million

Revenue forecast in 2028

USD 1,065.9 million

Growth Rate

CAGR of 9.7% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Component, technology, application, product, end-use, region

Regional Scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country Scope

U.S.; Canada; Germany; U.K.; France; Italy; Spain; Russia; Japan; China; Australia; India; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE

Key companies profiled

Masimo; Smiths Medical, Inc.; Dragerwerk AG & Co. KGaA; Welch Allyn (Hill-Rom Holdings, Inc.); Koninklijke Philips N.V.; Medtronic; Nonin Medical, Inc.; Nihon Kohden Corporation; BD; Diamedica (UK) Limited; Edan Instruments, Inc.

Customization scope

Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global capnography devices market report on the basis of component, product, technology, application, end-use, and region:

  • Component Outlook (Revenue, USD Million, 2016 - 2028)

    • OEM Modules

      • Infrared Sources

      • Others

    • Others

  • Product Outlook (Revenue, USD Million, 2016 - 2028)

    • Handheld

    • Standalone

    • Multiparameter

  • Technology Outlook (Revenue, USD Million, 2016 - 2028)

    • Mainstream

    • Sidestream

    • Microstream

  • Application Outlook (Revenue, USD Million, 2016 - 2028)

    • Emergency Medicine

    • Pain Management

    • Procedural Sedation

    • Critical Care

    • Others

  • End-use Outlook (Revenue, USD Million, 2016 - 2028)

    • Hospitals

    • Ambulatory Care Centers

    • Others

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

      • Russia

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

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