Market Trends of Capnography Devices Industry
Side Stream in Technology Segment is Expected to Hold a Significant Share Market Share over the Forecast Period
- The side stream technology is expected to hold a significant market share over the forecast period owing to its wide usage in anesthesia monitoring.
- The major factor driving the growth of the market includes an increase in surgical procedures across the globe. The side stream capnography devices are easy to connect, and they can be used in collaboration with simultaneous oxygen administration via a nasal prong. The number of surgeries in developed nations of Europe is anticipated to drive the segment's growth due to the increased adoption of side-stream technology.
- According to the Organization for Economic Co-operation and Development (OECD), in January 2023, the number of surgeries performed in European countries such as Denmark, Ireland, and Portugal in 2021 were 49,308, 32,844, and 94,872, respectively. Such a huge number of surgeries in developed countries will drive market growth due to the increased adoption of side-stream capnography devices to monitor the concentration of carbon dioxide in exhaled breath, driving the segment growth.
- Furthermore, the importance of side-stream capnography in infant ventilation is also expected to bolster market growth. For instance, according to the study published in the Journal of Perinatology in March 2021, the introduction of side-stream capnography reduces the magnitude of difference in CO2 levels in mechanically ventilated newborns in the first week after birth, and the number of blood samples would be reduced. Furthermore, according to the same source, side-stream capnography was associated with a reduction in severe intraventricular hemorrhage. Such studies show the importance of side stream capnography devices driving segment growth.
- The rise in surgical procedures and the importance of side-stream capnography during surgeries is expected to increase the demand for side-stream capnography devices, leading to significant growth in the market.
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North America is Expected to Hold a Healthy Market Share over the Forecast Period
- North America holds a significant market share and is expected to do the same over the forecast period. In North America, the United States is expected to have the largest capnography devices share owing to the rising technological advancements and an increase in the prevalence of respiratory diseases.
- The rising prevalence of respiratory diseases such as asthma is also expected to drive market growth in the region. For instance, according to the Centers for Disease Control and Prevention (CDC), in October 2022, the percentage of adults aged 18 and over who currently have asthma in the United States in 2021 was 8.0%, and the annual number of office visits for asthma was 5.8 million in 2021. Such a huge incidence of asthma is expected to drive the adoption of capnography devices in the management of asthma, driving the market growth.
- According to the study published in the European Journal of Pediatrics in September 2021, the Masimo EMMA Portable Capnograph was found to be an effective monitoring device for mechanically ventilated preterm infants. For patients of all ages, EMMA offers smooth mainstream capnography in a small, portable instrument. Such technologically advanced products from the companies of the United States will lead to increased adoption of the device in the region, driving market growth.
- The rising approvals of capnography devices from international regulatory agencies are expected to drive market growth in the region. For instance, in April 2021, the United States Food and Drug Administration (US FDA) approved Radius PCG, a portable real-time capnograph with wireless Bluetooth connectivity developed by Masimo. The approval of innovative devices is anticipated to increase the adoption of capnography devices, driving market growth in the region.
- Thus, owing to the rising initiatives from the market players and rising technological advancement, the market is expected to witness high growth over the forecast period.
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