Capnography Devices Market Size, Share & Trends Analysis Report By Product (Stand-alone, Handheld), By Technology (Mainstream, Sidestream), By Application, By End Use, By Component, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the capnography devices market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for capnography devices market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of capnography devices market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Capnography Devices Market Categorization:

The capnography devices market was categorized into six segments, namely component (OEM Modules), technology (Mainstream, Sidestream, Microstream), application (Emergency Medicine, Pain Management, Procedural Sedation, Critical Care), product (Hand-held, Stand-alone, Multi-parameter), end use (Hospitals, Ambulatory Care) and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The capnography devices market was segmented into component, technology, application, product, end use and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The capnography devices market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-six countries, namely, the U.S., Canada, the UK., Germany, France, Italy, Spain, Denmark, Sweden, Norway, Russia, China, India, New Zealand, Singapore, Japan, Australia, Thailand, South Korea, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE, Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Capnography devices market companies & financials:

The capnography devices market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Smiths Medical -Smiths Medical is a publicly operated multinational organization and a division of the UK-based Smiths Group plc. The company is a global manufacturer of specialty medical devices and its product offerings cover diverse applications, including adult critical care, anesthesia, oncology, cardiology, pain management, veterinary, and home & alternate care. Smiths Medical serves a variety of customers including hospitals, clinics, homecare, and other surgery centers. The company operates in over 50 countries and markets its products to over 100 countries.

• Dragerwerk AG & Co. KGaA - Dragerwerk AG & Co. KGaA is an international company involved in the development of a wide range of devices and solutions for the medical and safety technology fields. The company has two major business divisions— Medical and Safety. It specializes in providing healthcare solutions with applications in areas such as neonatal care, intensive care, prenatal care & emergency care, gas management systems, and operating rooms. The company offers products that are used for monitoring, ventilation, anesthetics, warming therapy, and information management.

• Hill-Rom Services, Inc. - Hill-Rom Services, Inc. is a publicly operated multinational company involved in medical technology industry. The company focuses on improving health outcomes by advancing Connected Care. Hill-Rom’s products and services are intended to be used in diagnosis & treatment, optimizing surgical efficiency and accelerating patient recovery. Its portfolio includes smart bed systems, respiratory health devices, patient monitoring and diagnostic technologies, and advanced equipment for surgical space.

• Masimo - Masimo is a medical technology company involved in the development, manufacturing, and marketing of a wide range of non-invasive monitoring technologies globally. The company offers products such as pulse oximeters, capnographs & gas monitoring systems, noninvasive blood pressure & temperature monitoring systems, brain monitoring systems, and other connectivity devices. It specializes in providing its products directly and through a distribution network and original device manufacturers. It caters to a wide range of customers that include hospitals, physician offices, veterinarians, long-term care facilities, and emergency medical service providers.

• Koninklijke Philips N.V. - Koninklijke Philips N.V. is a diversified health and well-being company. The company operates across three main business areas: Healthcare, Lighting, and Consumer Lifestyle. It provides solutions for cardiac care, home healthcare, acute care, and energy-efficient lighting solutions. The healthcare business comprises four segments: Imaging Systems, Patient Care, Clinical Informatics, and Home Healthcare Solutions. Home healthcare solutions includes respiratory care, sleep management & noninvasive ventilation, medical alert, remote patient monitoring, and medication dispensing services.

• Medtronic - Medtronic is a publicly operated multinational organization involved in the manufacturing of medical devices. The company delivers value-based procedural systems and therapeutic level offerings globally. It operates in over 150 countries and is one of the global leaders in the medical devices industry. The company’s product offerings are divided across four business groups: Cardiovascular, Diabetes, Medical Surgical, and Neuroscience.

• Nonin - Nonin is a privately held company involved in medical devices industry. The company is a leader in non-invasive medical monitoring solutions market. Nonin’s portfolio includes products for pulse oximetry, cerebral & tissue oximetry, and capnography. The company serves customers from diverse areas such as military, veterinary, dentistry, emergency medicine, eHealth, homecare, and hospitals & clinics. The company sells its products in over 125 countries and has more than 200 OEM partners across the globe.

• Nihon Kohden Corporation - Nihon Kohden Corporation is a publicly operated multinational medical devices company. The company segregates its products into 4 categories: Physiological Measuring Equipment, Patient Monitors, Treatment Equipment, and Other Medical Equipment. The different products offered by Nihon Kohden include EEGs, ECGs, remote access software, clinical infomartion systems, AEDs, ventilators, heamatology analyzers, video laryngoscopes, and clinical chemistry analyzers.

• BD - BD (Becton, Dickinson and Company) is a publicly operated multinational organization. The company is a medical technology leader with a wide geographical footprint. BD develops, manufactures, and sells a variety of medical supplies, laboratory equipment, devices, and diagnostic products. The company serves a diverse clientele consisting of healthcare institutions, life science researchers, the pharmaceutical industry, physicians, clinical laboratories, and the public. The company operates through its 3 business segments: BD Medical, BD Life Sciences, and BD Interventional. The company focuses on innovating solutions for improving medical diagnostics, discovery, and delivery of care.

• EDAN Instruments, Inc. - EDAN Instruments, Inc. is a publicly listed healthcare company. The portfolio of the company includes products for ECG, patient monitoring, OB & GYN, ultrasound imaging, and point-of-care testing and veterinary. In the patient monitoring segment, the company provides vital signs monitor, transport & central monitoring systems, pulse oximeters, fetal & maternal monitoring systems, and telemetry systems. The company operates in over 150+ countries worldwide.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Capnography Devices Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Capnography Devices Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.